The risk of another global recession and a renewed banking crisis is high according to a new survey of the dangers currently facing the world’s banking industry – this is one of the conclusions from Banana Skins Banking Risk Survey carried out by the Centre for the Study of Financial Innovation (CSFI) and PwC.
The survey puts macro-economic risk at the top of the list of 30 possible risks to banks. The poll is based on responses from more than 700 bankers, banking regulators and close observers of the banking industry in 58 countries. The survey received responses from 31 Russian bankers.
The poll also shows that anxiety about the outlook for banks is at its highest level since the survey was started 13 years ago. Many respondents expect to see further bank failures and nationalisations.
The main cause of anxiety is the eurozone crisis which contains the threat of sovereign default by several countries. The shock of a euro collapse would hit banks not just in Europe but in all major regions of the world. Bankers in countries as wide apart as the US, Canada, China, Argentina and Australia put the euro crisis at the top of their list of concerns.
|PwC Russia is a Partner of the XXII Olympic Winter Games and XI Paralympic Winter Games to be held in the city of Sochi in 2014
|PwC Russia is a Partner of the XXVII World Summer Universiade 2013 in Kazan