You have to be increasingly vigilant in the coming days as the trend of forex inflows is likely to reverse thereby exposing the banks to more stringent KYC requirements from the host countries in the West. (d)  Managing risk  24.
Nevertheless, in these heady times, one wonders whether some market participants may treat recent developments as a testament to an all-but-assured path to complete markets. In my remarks today, I will discuss how liquidity and financial innovation are making markets more complete – or more precisely, less incomplete – than in earlier periods.