LOOSE CHANGE

LOOSE CHANGE

Jyske Bank of Denmark has decided to join the Exchange Clearing House (Echo) and use the service for multilateral settlement of interbank foreign exchange. Jyske, the fourth largest Danish bank, is the first to take advantage of Echo's recently announced decision to relax its criteria to include banks with a Tier 1 capital of less than $900 million. Earlier this month HSBC became the first Hong Kong bank to join Echo (FXW, June 10). In an attempt to stimulate further interest in Echo, the c

To continue reading...