Globalisation has been a major force in recent decades, leading to substantial change in markets and economies. International banking has not been any different, with globalising financial systems, rapid developments in technology, mergers of large financial institutions into large multinational financial services giants and ever increasing competition. Some suggest that this has resulted in a more efficient global financial system, with freer international capital flows, but others point to the broader parameters of risk that have been created. A key risk that has intensified with this process is that of contagion. Your task here is to:

a. research contagion in the global financial services industry

b. determine the extent of this risk and means of managing it both on an individual (institutional level) and international level

c. include in your report a detailed examination of a recent international case in which contagion risk has developed.