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I don't think so given the recession unlike 2008 is not banking driven this time. Banks due to regulatory requirement have to submit models, and keep stuff both in tech, products and other function like trading, risk etc...which should keep running. Also liquidity buffer generally in banks is decent again due to regulatory pressure unlike in tech firms..

helpful

Thanks 👍

No news is good news!!

I mean in general does revenue of these captives gets impacted in recession particularly the retails business?? Yes corporate and wealth business will be impacted but still does it impacted to such extent as like product companies?

Is such impacts seen in previous recessions if any??

How will we know?

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