FSB report finds mixed progress on benchmark reforms
Report welcomes ‘good progress’ on many recommendations
There has been "good progress" in implementing many of the recommendations on foreign exchange benchmarks, the Financial Stability Board (FSB) says in a report released today (October 1), but less so in others.
In particular the FSB stresses the recommendations, published in September 2014, were "to all FX benchmarks". While "useful steps" have been taken to reform the WM 4pm London fix, it is "less advanced" in other benchmarks.
The report also looks at the effect of widening the calculation
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