Liquidity risk in a new world order

As geopolitical forces reshape global capital flows, de-dollarisation emerged as the most urgent and widely discussed subject among senior liquidity risk leaders at the Risk.net Leaders’ Network meeting held in London in June. Experts revealed that they are not just monitoring the possibility – they are modelling for it. Several leaders flagged growing client concerns about dollar exposure and noted shifts in behaviour, particularly among wealth management clients.

Key takeaways:

• De-dollarisation is shifting from theory to strategic planning, with banks actively modelling for a world less reliant on the US dollar.
• Behavioural assumptions across risk types are being challenged, prompting a push towards unified stress-testing frameworks.
• Contingent liquidity has become central to resilience planning, with term funding and central bank access under renewed focus.
• Regulatory divergence is reshaping competitive dynamics, with US, UK and European regimes pulling in different directions.
• Artificial intelligence and infrastructure modernisation are moving from experimentation to implementation, especially in data consolidation and forecasting.