Corporate bonds could suffer sharp price falls in stressed markets because of the reduced capacity of investment banks to provide liquidity, a decade on from post-crisis regulations that restricted Wall Street’s ability to take on risk.

The International Organization of Securities Commissions, a global body of securities regulators, said in a June 21 report that rules put in place since the 2008 financial crisis may have “curtailed” banks’ willingness to provide liquidity to investment managers looking to sell bond holdings.