CLS, the bank that plays a pivotal behind-the-scenes role in the global foreign exchange (FX) market, has added to warnings of a build-up of post-trade risks. Foreign exchange is the […]
Domestic payments—those within a single currency area—are becoming faster, easier and safer. But the opposite is true when payments go global. There are six deep-rooted reasons for the opacity, high […]
Last week the general manager of the Bank for International Settlements (BIS), Agustín Carstens, made a spirited defence of central banks’ role in the global monetary system. “The monetary and […]
Transferring money from one person to another is relatively easy if you are in physical proximity, in the same time zone or national financial system. But what if your counterparty […]
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