A survey by the Centre for the Study of Financial Innovation (CSFI) has warned that the current turmoil in the financial markets has transformed the landscape of
banking risks.
In the latest Banking Banana Skins study, conducted by the CSFI in association with PricewaterhouseCoopers, the views of almost 300 senior financial figures from 38 countries rank the 30 main banking risks.
Concerns over market conditions and fears of a future global recession are high and two of the top three risks, liquidity and credit spreads, have never previously appeared in the rankings.
David Lascelles, survey editor, said: "Although some respondents thought there had been crisis over-reaction, the great majority were very pessimistic. This is the darkest banana skins survey in more than ten years."
Results showed that those in the
banking industry thought market risks posed the strongest threats and non-bankers blamed weaknesses in the banks themselves, highlighting poor risk management and generous bonus systems.
The CSFI is an independent thinktank for research into the financial services industry and provides a meeting ground for practitioners to share ideas and explore future possibilities.
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