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page 161 chapter V
the approach of the ethic of responsibility is the most
sustainable in the field of business ethics.
Banks: the intermediaries …
Being the universal intermediaries in the economic
process, banks are confronted particularly intensively
with the consequences of business activity. This central
function in the modern economic process gave
rise to the exposed position of the banking sector in
the current public debate. What are the causes of the
often negative attitude towards the financial sector,
despite the fact that no one can dispense with its services?
Banks indisputably have substantial influence in
the economic process. It is particularly their dual function
as financial intermediaries that often leads to a dilemma:
by granting them financial strength, they enable
individuals and enterprises to pursue and achieve
goals. However, they can also impede this by ceasing
to provide liquidity. Investors expect security, dependability
and maximum returns – although, unfortunately,
no one likes to mention the latter at the moment.
Borrowers look for open-mindedness, risk
capital, flexibility, good terms and the lowest possible
charges.
This dual function between necessary profitability
and social obligation creates tensions. A reticent lending
policy to avoid defaulted loans in times of general
economic weakness meets with the reproach of practising
a liquidity policy that strangles the economy; in
the event of insolvency, a policy of providing the economy
with generous, risky liquidity has to defend itself
against accusations of obviously careless lending. Similarly,
and especially in a weak economic environ-