Global representatives from the banking sector at this year’s World Economic Forum took stock of the economic crisis and the perilous challenges which lie ahead. Writer Brian Caplen.

Even with the creation of Continuous Linked Settlement Bank (CLS), foreign exchange settlement risk persists, with a large number of currencies remaining outside the scope of the industry utility. How much risk persists, and how can it be eliminated? Writer Frances Maguire.

More liquid than most derivative markets, foreign exchange products still suffered in the turbulence of late 2008. But hedging exchange rate risk has never looked more important, creating growth opportunities for banks that can stay in the game. Writer Philip Alexander.

With company insolvencies set to hit epidemic proportions in 2009, all eyes are on corporate treasurers to guide their businesses through the turmoil. Writer Charlie Corbett.

Not every banker is staring into the abyss of 2009 with frozen horror; those involved in transaction services realise their skills are needed more than ever. The heads of transaction banking across some of the industry’s major players offer their predictions for 2009. Writer Charlie Corbett.

Falling international equity markets have swept Africa’s capital markets along with them. But the world’s poorest continent will continue to improve the sophistication of its exchanges. Writer Stuart Theobald.

Banco Santander’s capital raising last November was unexpected but investors responded surprisingly well. While Spanish banks have largely managed to avoid the fallout of the subprime crisis, the government is taking measures to ensure that any further global setbacks only have a minimal impact upon the country. Writer Jules Stewart.

The AIG and Lehman debacles have convinced regulators globally that a central clearing counterparty is critical for the future of the credit default swaps market. But many market participants feel that the idea is flawed. Writer Michelle Price.

The European payments landscape is undergoing a period of dramatic transformation as regulatory, infrastructural and commercial pressures force Europe’s payment providers to invest colossal amounts of human and financial resources in new technological and compliance projects.Faced with SEPA, the PSD and UK Faster Payments, the transaction banking business has rarely been busier or more inflamed by competitive pressure.

It has been an unprecedented year for the world’s banking industry. Once seen as the drivers of economic growth and prosperity, bankers are regarded by many as pariahs. This image is unfair. The collapse of confidence in the credit markets was driven by the recklessness of a few, but the impact of their actions has sent shock waves across the industry. Cash has become king and, increasingly, banks are looking towards their transaction services teams to drive revenue in 2009. Paul Camp, head of cash management for financial institutions at Deutsche Bank, talks about cash management’s evolution in 2009.