Basel Committee praises progress in reducing FX settlement risk

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The Basel Committee on Banking Supervision (BCBS) today (August 17) released a consultative document that updates guidelines on managing foreign exchange settlement risk. The committee said the forex market had made "significant strides" towards reducing risk, but the rapid growth of trades had brought the potential for further problems.

The latest document updated the previous Supervisory guidance for managing settlement risk in foreign exchange transactions, published in 2000. Seven new

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