Anxiety among bankers has reached a near-record high and is close to the level experienced after the dotcom collapse of 2000, according to a new survey of financial risks. Regulatory overkill, credit risks and derivatives top the poll as the three greatest worries to the financial sector.

The annual Banking Banana Skins survey of financial risks, a poll of bankers, regulators and analysts undertaken by London think-tank the Centre for the Study of Financial Innovation, has found for the second year running that concerns about regulation topped the rankings.