1.42%

1.39%

2.01%

4.21%

Replacement risk

Settlement risk

Legal risk

Basis risk

Deliberate attempts at gaming and abuse using the flashing of orders without the intent to deal should be classified as proprietary trades.

Management should ensure that the complete e-trading process, from pricing to risk impact through to settlement, conforms to recognized standards and market conventions.

All bid-offers presented to electronic platforms should remain in the Matching System for no more than the minimum period of time defined within their respective Minimum Quote Life (MQL) rules.

Trades which occur at off-market rates, by agreement between the two counterparts and as soon as practically possible, should stand and any profit be equitably divided between them.

The interest rates of the two currencies

The spot exchange rate

Thedaycount

Market expectation

Sell and buy GBP/USD T/N

Buy and sell GBP/USD T/N

Sell GBP/USD spot, and sell and buy GBP/USD T/N

Buy GBP/USD spot, and buy and sell GBP/USD T/N

In the case of short date deposits, if the borrower is not prepared to repay the deposit prior to notice of receipt of the funds from the correspondent bank.

The borrower has no lending line for the placer of the funds and does not wish to be embarrassed by being unable to reciprocate.

If he secures a better rate elsewhere.

The borrower would be in breach of internal or regulatory depositor concentration limitations.

6.5825

6.5820

6.5815

6.5830

the gold price fixed twice a day to balance supply and demand in the London bullion market

the gold price fixed at the end of the day in the London bullion market

the gold price fixed at 11:00 am. local time in the London bullion market from a panel of gold traders

the gold price fixed at 11:00 a.m. to settle gold contracts in the London bullion market

A prerequisite for hedge accounting is that a hedging instrument is designated as an offset to changes in the fair value or cash flows of a hedged item.

Hedge accounting enables gains and losses on a hedging instrument to be recognised in the income statement in the same period as offsetting losses and gains on the hedged item.

If one of the criteria for hedge accounting is no longer met, there is an option to discontinue hedge accounting.

Strict criteria must be met at inception and throughout the term of the hedge relationship in order for hedge accounting to be applied.

A contract to exchange one stream of interest payments for another

A temporary exchange of one deposit for another of a longer maturity in the same currency

A forward-forward contract

A contract to exchange an interest rate stream in one currency for another one in a different currency

bid side of the near leg swap points minus offered side of the far leg swap points

bid side of the far leg swap points minus offered side of the near leg swap points

offered side of the far leg swap points minus bid side of the near leg swap points

offered side of the near leg swap points minus bid side of the far leg swap points

BBA LIBOR

Fed funds

ISDALIBOR

EURIBOR

an exposure in Latvian Lats (LVL)

an exposure in Russian Rouble (RUB)

an exposure in Romanian Leu (RON)

an exposure in Bulgarian Lev (BGN)

Sell 3x6

Buy 3x6

Sell 4x7

Buy 4x7

to promote globalization and deregulation of the financial markets

to maintain the professional level of competence and to disseminate a high level of ethical and professional behavior

to act as the official international market regulator in the absence of government regulation

to become the sole global corporation of wholesale financial market professionals