Singapore banks urged to protect more against currency settlement risk

NEWS

SINGAPORE -- Banks in Singapore should do more to protect themselves against foreign currency settlement risk, according to the results of a survey released in July by the Monetary Authority of Singapore (MAS).

Of the 39 banks surveyed by MAS, 15% admitted they do not use established methods for measuring their currency exposures.

The survey found that 77% of respondents could be underestimating their currency settlement exposures because they calculate exposure using a single-day calendar me