Federal Reserve Board Guidance on Counterparty Credit Risk Management Federal Reserve supervisory guidance that is particularly pertinent to issues surrounding bank relationships with hedge funds was first issued in the Federal Reserve’s Trading Activities Manual (TAM), published in 1994. This manual discusses general sound practices for managing the market, credit, legal, liquidity and operating risks involved in bank trading and derivatives activities.
The ECB does not embark on a particular multimonthly pre-commitment on interest rates or on the path of future policy interest rates.