Global Body Sets Out Ways To Reduce Foreign Exchange Risk

By Alex Davidson (July 29, 2022, 7:05 PM BST) -- The Bank for International Settlements set out on Friday new ways to reduce the risk of nonpayment related to $8.9 trillion in daily settlement obligations in the global foreign exchange market, in a report requested by the Group of 20 top economies.

The global standards setter for central banks said potential losses derived from these settlement obligations are up to $2.8 trillion in its report, central to its G-20 program to improve cross-border payments.

Banks participating in the forex market are putting at risk regulatory capital they hold to stay in business or pay other losses, the BIS said. But they can...

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