Mexico and Brazil come to terms with meaning of exotic
Central banks save the day
Suitability debate
Banks in Mexico are looking closely at their internal controls in the wake of the derivatives crisis. A US fund manager directly involved says: “I couldn’t believe that the banks purely took the corporates’ word on how much exposure each had to derivatives.”
A senior Latin America banker in New York says: “The issue was corporates doing a lot more derivatives than the banks knew about.
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