外汇交易结算风险治理研究

On controlling FX trading settlement risks

普遍存在的外汇交易结算风险具有灾难性的系统性影响。该文将外汇交易结算风险归纳为信用性结算风险和流动性结算风险两种形式,并针对不同形式的特点提出了相应的治理原则和措施。近年来,国际社会为治理外汇交易结算风险做了许多努力,CLS银行的成立具有较为有效的治理作用。

FX trading settlement risks have disastrous systematic influence. This paper divides risks of this type into two kinds,i.e, settlement risks on credit and liquidity, and offers corresponding principles and measures for controlling them based on their distinguishing features. In recent years, great efforts have been made worldwide to control these risks, while the establishment of the CLS bank has also shown effectiveness in this field.