Citi FX survey: Crisis prompts companies to alter counterparties, risk management approach

The US bank’s survey of more than 300 multinational non-financial corporates conducted in September revealed 61% had re-examined their risk management policy and 43% had changed their mix of counterparties. Of the total surveyed, 33% reduced their notional hedge amount and tenor.

The survey found 17% used options more than forwards, as they are likely to avoid the large derivatives losses incurred by forwards during the crisis, the bank said.

Only 6% of those surveyed said they'd stopped hedging

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