Global banks are taking steps to weather the wider impact of war and runaway inflation as the stream of central bank money that kept them afloat for more than a decade is switched off.
But if policymakers are hoping banks will help avert recession by turning on their own lending taps, they could be disappointed, bankers, analysts and investors said.
Banks are having to quickly get to grips with a sharp rise in the risk of doing business as corporate and retail borrowers juggle higher loan costs with soaring costs.