New York Fed demands better management of FX risks

Jeanmarie Davis, New York Fed

Banks must improve the monitoring and management of all risks associated with foreign exchange trading, paying more attention to the possible need for collateral to mitigate counterparty risk, a senior official at the Federal Reserve Bank of New York has warned.

In an exclusive interview with's sister publication FX Week, Jeanmarie Davis, senior vice-president and head of the financial market infrastructure function at the New York Fed and chair of an international working group on

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