ACI Council Focuses On Crisis Management Eye On Central Banks, Shrinking FX Market

REGULATION

The main substantive issue discussed at last week's council meeting of the Association Cambiste Internationale (ACI) in Madrid was the industry's lack of preparedness for the freezing of Kuwaiti banks' foreign exchange transactions during the Gulf crisis, says Willy Kestens, president of the organization, in an interview with FX Week. The ACI has therefore designated a committee, mostly composed of German members--who brought up the issue at its annual meeting last Thursday--to create some

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