BBA, FX Net, ECHO Draft Responses To BIS' Farrant Report On Netting

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Replies from major banks and bank groups to a discussion paper on foreign exchange netting circulated by the Bank for International Settlements' (BIS) Farrant Committee in April are beginning to trickle in--many of them focusing on the contentious legal questions surrounding netting. The British Bankers Association (BBA), the European Clearing House Organization (ECHO), FX Net, and major banks who received the Farrant Committee paper plan to submit their comments to the Bank of England by the

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