District Circular Letters
January 13, 2014
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Managing Foreign Exchange Settlement Risks for Physically Settled Transactions
On December 23, 2013, the Federal Reserve issued SR letter 13-24, “Managing Foreign Exchange Settlement Risks for Physically Settled Transactions.” This letter transmits the Basel Committee on Banking Supervision (Committee) “Supervisory Guidance for Managing Risks Associated with the Settlement of Foreign Exchange Transactions” (guidance), issued in February 2013.
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