Emerging market growth continued to disappoint in 2015, with the slowdown in China, recessions in Brazil and Russia and weak commodity prices dominating the outlook going forward. China continues to rebalance its economy, and according to the IMF is expected to have grown by 6.8 per cent in 2015, and achieve growth of 6.3 per cent in 2016.
In the banking sector, it is not uncommon for there to be questions as to what level of understanding a bank should have of its vendors’ models, due to the balancing of risk management, on the one hand, and protection of proprietary  17  See, e.g., Eric Lipton, David E. Sanger, and Scott Shane, “The Perfect Weapon: How Russian Cyberpower Invaded the U.S.,” New York Times, December 13, 2016, https://mobile.nytimes.com/2016/12/13/us/politics/russiahack-election-dnc.html; and Cormac Herley, “Why Do Nigerian Scammers Say They Are from Nigeria?” Microsoft Research, June 1, 2012, https://www.microsoft.com/en-us/research/wpcontent/uploads/2016/02/WhyFromNigeria.pdf.