Industry resilient to shocks
FX WEEK USA CONGRESS
This was a central message of the keynote speech given by Christiane Mandell, global head of foreign exchange at Bank of America at the FX Week USA Congress on July 14.
Mandell said that the industry would be able to withstand a significant market shock caused by global imbalances. She pointed to the improved ratio of equity capital to liabilities as a demonstration of the durability of the banking industry.
This had reached 11% in the first quarter of this year, compared with 6.4% following the
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