BBA Discusses Settlement Risk Solution As Groups Debate Clearing House Plans
REGULATIONS
The British Bankers Association (BBA) is talking to market participants and regulators in London about what some officials call a "quick and dirty" method of drastically reducing FX settlement flows, pending more permanent solutions to the problem of FX settlement risk.
BBA secretary Bob Blower says the method, essentially the implementation of bilateral closeout netting on a daily basis, would help banks meet central bank demands for rapid action on settlement risk -- preferably by the end of
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