外汇操作风险管理(Ⅰ)

Management of Operational Risk in Foreign Exchange(Ⅰ)

纽约联邦储备银行外汇委员会于2004年11月发布了《外汇操作风险管理》,列举了一系列有关外汇操作风险管理的最佳做法。作为其1996年版的更新版本,它介绍了市场实践的最新进展。从本期开始,《中国货币市场》杂志将分期刊登,希望能对我国金融机构和企业更好地审视其政策和程序、管理外汇操作风险有所帮助。根据外汇交易流程的七个步骤,《外汇操作风险管理》分为几个部分,即1)交易前准备、2)交易的实现、3)确认、4)轧差、5)结算、6)往来帐核对及7)会计/财务控制过程。其中每一节都对该节所讨论的交易过程涉及的步骤进行了描述,并列出了该阶段所特有的一些最佳做法。文章最后列出了一系列普通最佳做法,它们更广泛地适用于操作风险的总体管理,包括应急计划的指导。

Editor's note The Foreign Exchange Committee of the Federal Reserve Bank of New York published the 2004 version of Management of Operational Risk in Foreign Exchange, which lists the best practices of managing FX operational risk. As the updated one of the 1996 version, the document introduces the latest development of market practices. From this issue on, CHINAMONEY is going to publish it in series, hoping that it will be beneficial for China's financial institutions and enterprises in examining policies and procedures and managing FX operational risk. This document is divided into sections based on the seven steps of the FX trade process flow 1) pre-trade preparation, 2) trade capture, 3) confirmation, 4) netting, 5) settlement, 6) nostro reconciliation, and 7) accounting/financial control processes. Each section of this paper provides a process description of the steps involved in the trade phase discussed in that section, followed by a list of best practices specific to that phase. The paper concludes with a list of general best practices that apply more widely to the overall management of operational risk, including guidance for contingency planning.