Fourth, is the importance of stress testing or, at least, of anticipating and preparing for potential worst case scenarios. For many corporates, the last few years of slower growth and trade, would arguably have been easier to handle, had they focussed on proper management of currency and interest rate risks.
Fifth, the risks associated with excessive leverage have very clearly been brought out by the crisis. The recent experiences have, thus, under-scored the age old lesson of the downside of excessive “greed”.