Despite recent industry and government attempts to strengthen the financial system, this statement remains valid today. One of the most important lessons from the financial crisis a decade ago was that the financial world we lived in was not as secure as we imagined. What is the difference between credit risk and counterparty risk?.What type of risk is counterparty risk?.Is Counterparty Risk Increasing as a Result of Present Market Conditions?.What Is the Importance of Counterparty Risk to Me?.Transaction Types Involving Counterparty Risk.