Corporate hedging crisis
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NEW YORK -- Banks are suffering from a dearth of corporate FX business in the US, as firms continue to shy away from hedging exposures in the post-Enron climate.
Following the energy giant’s accounting scandal in December 2001 -- and bolstered by that of communications firm WorldCom earlier this summer -- corporate treasurers in the US remain unable to hedge their risk due to uncertainty over future events, officials told FX Week.
"The accounting concerns surrounding Enron and others have meant a
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