Manage Asia derivative risk locally, says Bank of England
Offshore booking may result in weak regulatory oversight – UK regulator
Banks in Asia should book and manage transactions closer to home as it leads to better risk management according to Paul Fisher, deputy head of the Prudential Regulation Authority and executive director, supervisory risk and regulatory operations at the Bank of England.
Speaking on a panel discussion at the Thomson Reuters Pan Asian Regulatory Summit in Hong Kong today, Fisher responded to a question about global banks booking all of their Asia risk into their US or EU affiliates and he queried
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