International Finance

Tag : David Herstatt

Fintech

Herstatt Risk- Systemic Risk in the Forex Market

The time zone difference meant that the banks sending the money never received their US. dollars, on June 26, 1974, German regulators forced the bank into liquidation. 11th October 2013 The world has seen failure of banks and corporates due to creative accounting strategies such as Repo-105 in case of Lehman Brothers, transferring accumulated losses...