At the end of 2017, the European Central Bank and 14 of its European peers signed a statement of commitment to the FX Global Code of Conduct, while FX Week reported that the Bank of England and the remaining members of the European System of Central Banks will follow suit in early 2018.
David Clark, EVIA Chairman and a member of the Bank of England’s FX Committee led a recent panel debate featuring the European Central Bank, Riksbank and the Central Bank of Russia which discussed international cooperation and the Global Code.
In the film below David discusses the origins of the FX Global Code of Conduct and what success, to him, would look like. He points out that one vision for success is the view from the ‘man in the street’ of financial institutions; he states “financial institutions have lost their reputation, they did that 10 years ago and we haven’t satisfactorily regained that. That is the key test and one day we’ll wake up and someone will say something nice about financial institutions, then I’ll think to myself it’s [the FX Global Code of Conduct] working.”