CLS welcomes new Basel working group on FX settlement risk

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Foreign exchange central settlement provider CLS Bank has welcomed the creation of a joint working group to ensure financial institutions adequately control their foreign exchange settlement exposures.

On March 17, the Basel Committee on Banking Supervision and the Committee on Payment and Settlement Systems (CPSS) announced the establishment of a joint working group to revise a report published by the Basel Committee in 2000 to give supervisory guidance on managing settlement risk in foreign

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