Korea issues FX risk management guidelines
SEOUL – South Korean regulators released foreign exchange risk management guidelines for banks last week (January 5), ahead of the implementation of new rules to prevent corporates from over-hedging their underlying exposures.
The Financial Services Commission revealed plans for new rules last November, to cap corporates' derivatives holdings at 125% of the notional value of exports (FX Week, November 30, 2009). The guidelines, drafted jointly by the Financial Supervisory Service (FSS) and the
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