New CPSS/Basel guidance on FX risk management to be published soon

FX Week USA 2012

New supervisory guidance on risk management practices within the foreign exchange market could be released for consultation as early as this month, according to a senior official at the Federal Reserve Bank of New York. The new paper, issued jointly by the Committee on Payment and Settlement Systems (CPSS) and the Basel Committee on Banking Supervision, will update previous supervisory guidance issued in 2000, and will reflect the changes that have taken place in the FX market over the past 1