Basel Committee seeks to eliminate principal risk from FX trades

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The Basel Committee on Banking Supervision has targeted the reduction of lost payments in foreign exchange (FX) settlement in new supervisory guidance issued today.

Since its last guidance on the topic – in 2000 – there have been "significant strides" in reducing settlement-related risks in FX trades, the committee says, but the rapid growth in FX trading has ensured that many remain.

The guidance addresses governance, principal risk, replacement-cost risk, liquidity risk, operational risk

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