NAB welcomes FX Global Code of Conduct

Share

Share

National Australia Bank today welcomed the Foreign Exchange Global Code of Conduct, which was published by the Bank for International Settlements’ Foreign Exchange Working Group last week.

NAB said it would fully comply with the new code within the next 12 months, as recommended by the Working Group.

The code is a set of principles that guides good practice and effective functioning of the wholesale foreign exchange market. It was developed over two years by central banks and market participants from 16 jurisdictions around the globe.

“This code will enhance transparency and efficiency in the Australian FX market and is an important step towards more robust, fair, liquid and open currency trading globally,” said Drew Bradford, Executive General Manager Fixed Income Currencies & Commodities at NAB.

“NAB particularly recognises the work of the Reserve Bank of Australia and its Deputy Governor Guy Debelle in successfully leading this important global initiative.”

The code will be maintained by a new Global Foreign Exchange Committee, a global association of FX committees.

Economy

SEE ALL TOPICS

Related Articles

  • Business

Businesses amp up green investments with electric vehicles and solar panels topping the shopping list

New data from Australia’s largest business bank shows many small and medium sized businesses are continuing to invest in new or used energy efficient equipment, with the value of the bank’s Green Finance for Vehicles & Equipment loan book growing 80% compared to the same period last year.

  • 13.06.2024
  • Time to read 2 min read
  • Half Year Results

Video: NAB CEO Andrew Irvine discusses 2024 Half Year Result

In this video interview NAB CEO Andrew Irvine reflects on NAB’s 2024 Half Year Results, economic conditions and the bank’s strategic direction.

  • 02.05.2024
  • Time to read 1 min read
  • Half Year Results

NAB announces 2024 Half Year Results

NAB has today released its 2024 Half Year Results to the market.

  • 02.05.2024
  • Time to read 1 min read

Quick links

Business Research and Insights

For more economic news, insights and analysis, visit NAB’s Business Research and Insights