A survey of 252 CFOs, treasurers and senior finance decision-makers in North America mid-sized corporates conducted on behalf of FX-as-a-service provider MillTechFX in May hinted at trouble ahead for the major FX banks.
The headline finding was that the vast majority (88%) of the corporates surveyed were looking to diversify their FX counterparties, concerned by the potential risks associated with having only one or two banking partners in the wake of the problems experienced by Silicon Valley Bank, First Republic Bank and Signature Bank.
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