I propose to touch on only three areas of banking risk: -  old-fashioned credit risk; interbank settlement risk; and the Year 2000 problem - a kind of operational risk visited upon the world by the approach of the new millenium, and the short-sightedness of 1970s computer programmers with a penchant for abbreviation!
Those speculating in the New Zealand dollar need to be aware that the exchange rate is not a one-way bet; they need to be cautious.