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The events of the last five years have reshaped companies’ understanding of the risks they face when dealing with their banks. While concerns about bank counterparty risk have subsided from the levels seen in the immediate wake of the U.S. financial crisis and during the various flare-ups of Europe’s sovereign debt crisis, the lessons have sunk in.

“Corporate treasurers certainly have wakened up to the fact that when it comes to the banks they’ve dealing with, things can happen,” said Matthew Dunn, senior manager in Deloitte’s treasury risk management practice. “Things can happen fairly quickly. As we saw in the crisis, even large banks could not exist anymore overnight. It really can happen that fast.”

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