BIS Gives Industry Efforts To Reduce Settlement Risk Cautious "Thumbs Up"

DEALING & NETTING

BASLE--Industry efforts to reduce foreign exchange settlement risk have received a cautious "thumbs up" from the Basle Committee of the Bank for International Settlements (BIS). A progress report released earlier this month by the BIS commends recent initiatives by central banks and the private sector, but warns that a number of individual banks still haven't made progress in tackling forex settlement risk.

The BIS's findings on individual banks are based on a survey of 63 banks based in G10