BoE edges closer on FX settlement risk clarity
Central bank’s FX head says new survey will help to identify where risks may lie
When the Bank for International Settlements (BIS) published its first findings on foreign exchange settlement risk in 2019, it raised alarm bells throughout the industry.
Since then, global regulators and central banks, such as the European Central Bank (ECB), have tried to assess what market participants can do to mitigate the apparent decline in using payment-versus-payment (PvP) settlement systems. But as the data collection was very broad, it wasn’t clear exactly how big a problem it was and
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