Ifema Goes Into Effect In U.S. And U.K. With Extension To Japan In December
REGULATIONS
The International Foreign Exchange Master Agreement (Ifema) officially goes into effect this week in the U.S. and the U.K. and will be effective in Japan in the middle of this month, according to officials at the British Bankers Association (BBA). Canada is also expected to implement the agreement, but no date has yet been fixed, they say.
BBA secretary Bob Blower says the Ifema will require no immediate action for banks in the U.K.--the Ifema becomes standard market practice under the London
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