NAB revamping and re-opening foreign exchange options desk
The bank has received approval from the Australian Prudential Regulation Authority (APRA), the local financial watchdog, to reopen the desk following changes made by the bank.
The desk was closed over 12 months ago by APRA as it exposed numerous risk management problems and flaws in back-office procedures following the scandal.
"When you look at the APRA report you will find that everything that could go wrong did go wrong," said John Hooper, executive general manager of institutional markets and
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