Singapore banks at risk over FX settlement
NEWS
SINGAPORE -- Financial institutions in Singapore should do more to protect themselves against FX settlement risk, according to survey results released last Tuesday by the Monetary Authority of Singapore (MAS).
Of 39 banks surveyed by the MAS, 15% admit they do not use established methods for measuring their FX exposures.
The survey also found that 77% of correspondents could be underestimating their FX settlement exposures because they calculate exposure using a single-day calendar method, when
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