Concerns raised over Basel settlement risk guidance as consultation closes

The revised guidance on managing settlement risk could distort the forex market if implemented inconsistently, but should ultimately lead to greater use of CLS, say market participants


A new set of supervisory guidance on the management of foreign exchange settlement risk should make risk management practices more consistent across the forex industry, but it could reap unintended consequences if implemented inconsistently by regulators, senior bankers have warned.

The new guidance, which was published by the Basel Committee on Banking Supervision in August, has been open for public consultation for the past eight weeks and market participants had until last week to submit

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