Then he moves the meeting along to more typical banking risks - those involving money, not human life.

Its proponents argue that it offers a more realistic assessment of modern banking risk.

GCC central bank governors meeting in Manama (Bahrain) on July 16 agreed to co-operate to reduce banking risks in their countries.

He said: "With the government implementing its tough deficit-cutting measures, and while the eurozone's problems create worldwide banking risks, UK monetary policy must remain as expansionary as possible."

Other certifications offered by GARP include the International Certificate in Banking Risk and Regulation (ICBRR) and the Certificate in Risk Management for Islamic Financial Institutions.

Consumer Banking Risks While some analysts, like Mr. Cohen, warn that even consumer banking can be made risky by poor management, Mr. Bryan notes that regulators would still have a role in making sure that core banks follow sound business procedures.