The Banking Inquiry has been told that it would be good for the banking system if more bankers were to be brought to court.

An expert says bankers should face a personal cost for any reckless actions - including being brought to court.

The inquiry is currently concentrating on banking policy, systems and practices.

Professor Edward Kane from Boston College has been giving evidence at the inquiry today.

His research includes financial crisis management, deposit insurance and causes and implications of financial change.

He says any new system of bank regulation will only work if bankers will face personal consequences for breaking the rules:

Professor Kane said bankers should be held personally responsible if they run banks recklessly: