New York Fed demands better management of FX risks

FX Week USA 2012
Jeanmarie Davis, New York Fed

Banks must improve the monitoring and management of all risks associated with foreign exchange trading, paying more attention to the possible need for collateral to mitigate counterparty risk as well as capital to mitigate all risks, a senior official at the Federal Reserve Bank of New York has warned.

Speaking in an exclusive interview with FX Week, Jeanmarie Davis, senior vice-president and head of the financial market infrastructure function at the New York Fed, and also chair of an

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