FIVE YEARS AGO IN FXW

FIVE YEARS AGO IN FXW

New Basle Committee Examines Options For Reducing FX Settlement

The head of the payment, settlement and clearing systems division at the Bank of England, Peter Allsopp, is spearheading a new effort by the Basle-based G-10 central bank governors group to study ways of curbing settlement risk in the foreign exchange market. Allsopp is heading the steering group of the G-10 Committee on Payment and Settlement Systems run by New York Federal Reserve chief William McDonough, Bank of England

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