FX traders to kiss goodbye to settlement risk
Continuous Linked Settlement (CLS) is the industry's answer to the risk of a counterpart default in the two days between paying out on a currency deal, and that deal settling.
The danger of a chain of defaults in the $1.2-trillion a day global currency markets was
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Approach tends to be more common among African and American institutions
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External managers hired to set up new asset classes and train staff
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No respondent reports expansion into non-conventional assets
Boards responsible for benchmark approval at most central banks
Over half of lower-middle income respondents favour investment committee over other methods
Central banks’ average import coverage ratio falls further
Upper-middle income institutions tend to have a higher ratio