The stability or otherwise of banks has been centre-stage throughout the financial crisis. But while investment banking activities have attracted the most attention, corporate treasurers have become increasingly focused on the risks they run with their corporate banking counterparties.

Matthew Davies, head of strategic relationships, global transaction services Emea at Bank of America Merrill Lynch, said: "The way corporates look at bank counterparty risk has changed enormously in the last few years. It started post-2008 but increasingly has become a hot topic."