Central Banking

CLS Bank may reduce foreign exchange risk

ARTICLE - The Economist magazine reports in its Apr 14 edition on the introduction of a new financial institution later in 2001 which is designed to reduce the risk of a crisis in foreign exchange payments.

There will be a change in October 2001 in the way the worlds main currencies are traded. Supporters claim the result will be to reduce risk and make the world safer. Pessimists believe it will merely push risk elsewhere.

Whatever the outcome, it does present a radical alternative. It will

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