The International Accounting Standards Board (IASB) is investigating the establishment of an advisory forum, following comments from euro official Frits Bolkestein last month that standards for the treatment of derivatives are still unsuitable for…
National Australia Bank (NAB) has revised its pre-tax losses arising from unauthorised foreign exchange options trading to A$360 million ($277.4 million), double last week's initial estimate.
The Australia Prudential Regulatory Authority (APRA) is launching an investigation into the risk management controls at National Australia Bank's (NAB) treasury division.
Mark Snyder, US bank State Street’s global head of currency and money market sales and trading, has been appointed chairman of the Foreign Exchange Committee, a trade body.
Marco van der Burgt constructs a model of emerging market transfer risk based on a country’s foreign exchange reserves that is combined with facility-dependent risk factors that determine counterparty exposure in the event of a moratorium. He then…
LONDON - The Financial Services Authority, the UK regulatory body, has highlighted key areas of weakness in UK treasury management following a survey of banks and building societies.
PHILIPPINES - The Philippines' Securities and Exchange Commission (SEC) last week announced draft guidelines on the preparation of foreign currency-denominated financial statements for corporations in the country.
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The Basel Committee on Banking Supervision may investigate the risks associated with outsourcing trading systems to third parties, a senior Bank for International Settlement (BIS) official told FX Week.
Banks are developing new structuring models for corporate clients to ensure the IAS39 accounting standards do not result in a reduction of complex foreign exchange hedging activity, Risk's sister publication FXWeek reports.
The Foreign Exchange Committee, a 20-dealer industry liaison group to the New York Federal Reserve Bank, has made new recommendations for the exercise of in-the-money foreign exchange options in a revision to its 1996 forex operational risk best…
NEW YORK - The Professional Risk Managers' International Association (Prmia) is considering issuing guidelines recommending banks separate their risk management budgets from FX and other business lines.
Market consolidation and a reliance on electronic trading in the foreign exchange markets could lead to an over-concentration of risk and liquidity among too few market participants, the European Central Bank has warned.
TAIWAN — Citigroup appears to be winning the battle for third-party CLS business in Asia.
NEW YORK — Continuous Linked Settlement, the new settlement service for foreign exchange, settled a record $1 trillion in FX payments on February 18.
What is the appropriate statistical description of tail risk in a market portfolio? In the context offoreign exchange, Peter Blum and Michel Dacorogna address this problem using extreme valuetheory. Using 20 years of data, they estimate parameters for an…
Californian software company Integral Development said it has secured a patent for its Web-based straight-through processing transaction technology. The patent applies to Integral’s Integral Direct FX, Direct Derivatives, AutoDealer and Integral…
Banks are expecting to see increased forex trading revenues for the second quarter from increased volatility in the major currencies, officials told RiskNews ’ sister publication FX Week .
Foreign exchange proprietary traders are altering their strategies in response to increased price transparency. They are taking risk across more products, referring more to market strategy and turning to FX derivatives for speculative trading, according…
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