Banks face losses from three sources: their own position if short or long in

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问题 Banks face losses from three sources: their own position if short or long in a particular currency ; dealing positions taken by employees who gamble with the bank ’ s money; and defaults by counter-parties to forward exchange contracts and covering transactions. These risks were well illustrated by events in 1974 : Bankhaus Herstatt, cologne, collapsed due largely to losses on its foreign exchange exposures; Lloyds Bank, Lugano, lost USD77 million due to unauthorised trading by staff. Herstatt’ s closure by the Bundesbank during working hours left many banks with unfulfilled foreign exchange transactions. Since then banks and authorities have tightened their control. Banks still take a position on foreign currencies and put traders on commission to speculate on their behalf, but mainly on within-day trading or on overnight positions. On longer-term positions banks aim to match liabilities and claims in a particular currency or cover the difference in the swap market. [br] Banks face losses from three sources; their own position; dealing positions taken by employees, and defaults by counter parties to forward exchange contracts and covering transactions.

选项 A、Right
B、Wrong
C、Doesn’t say

答案 A

解析从文中第一句话Banks face losses from three sources…可以直接找到。

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