HKMA ups pressure on banks
HONG KONG - The Hong Kong Monetary Authority (HKMA) became the latest central bank to increase pressure on banks to reduce forex settlement risk, in revised guidelines for foreign exchange risk management last Wednesday (Jan 14).
The new guidelines are in response to recommendations made last May by the Bank for International Settlements (BIS) Committee on Payment and Settlement Systems (CPSS) report, which called for more action to reduce settlement risk, Rita Yeung, acting executive director
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