Concerns raised over Basel settlement risk guidance as consultation closes

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A new set of supervisory guidance on the management of foreign exchange settlement risk should make risk management practices more consistent across the FX industry, but it could reap unintended consequences if implemented inconsistently by regulators, senior bankers have warned. The new guidance, which was published by the Basel Committee on Banking Supervision in August, has been open for public consultation for the past eight weeks and market participants have until tomorrow to submit thei