“A U.S. dollar/Hong Kong dollar trade that is done in London between an Australian and a Swiss bank. That is how the fx market trades. So where do you report that?”
“A U.S. dollar/Hong Kong dollar trade that is done in London between an Australian and a Swiss bank. That is how the fx market trades. So where do you report that?”
Picking the wrong deal to finance can lead to public opprobrium. Banks must abandon the fiction that they are mere conduits for their clients if they care about reputational risk