HKMA revises forex guidelines
The Hong Kong Monetary Authority (HKMA) released revised guidelines for foreign exchange risk management in mid-January.
The guidelines are in response to recommendations made last May in a report by the Committee on Payment and Settlement Systems of the Bank for International Settlements, which called for more action to reduce settlement risk, says Rita Yeung, acting executive director of banking policy at the HKMA.
The guidelines say settlement risk exists for any traded product "but the size of
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