September 2008 saw the emblematic moment of the Global Financial Crisis (GFC) when Lehman Brothers collapsed. Intraday liquidity was fundamental to this collapse. Correspondent banks were not willing to provide intraday credit lines with Lehman Brothers looking such a bad risk and demanded Lehman either prefund accounts or collateralise the credit required. Once the run on the firm began, Lehman Brothers could not both pay out depositors and provide sufficient liquidity to cover its intraday requirements. Regrettably for the global financial system, Lehman had to file for Chapter 11 bankruptcy protection.