BIS Highlights Risks Of Further CLS Delays

NEWS

BASEL—The Bank for International Settlements has highlighted the risk of higher foreign exchange settlement costs for banks if the development of continuous linked settlement is hit by further delays.

Continuous Linked Settlement Services (CLS), a private sector initiative designed to eliminate FX settlement risk by constructing a global clearing and settlement network, has so far postponed its launch date from October 2000 to late 2001.

In a statement the BIS referred to recent comments from the

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