They are also beefing up their distressed-debt and bankruptcy teams, a source of profit that should mitigate any pain from a rise in defaults and tougher debt markets.
"Many of these expressions have served to greatly mitigate the pain and trauma of those worst affected, especially the children, who become the most vulnerable in these crises, " she said.
"Unfortunately, their positive impact on competitiveness, employment and activity will take time to materialize and will do little to mitigate economic pain in the short term, " said Herve Goulletquer, an analyst at Credit Agricole CIB.