FOR CORPORATES, THE financial crisis that erupted in September 2008 brought to the fore an issue many had scarcely considered in relation to their bank providers: counterparty risk. The implosion of Lehman Brothers demonstrated for the first time in a generation that big-name banks can disappear, with all the negative repercussions that entails for their clients.
In the months that have followed, some banks have lost business as corporates have reacted to concerns about their solvency and sought to diversify the risks presented by their treasury providers.
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