HERSTATT RISK
\hˈɜːstat ɹˈɪsk], \hˈɜːstat ɹˈɪsk], \h_ˈɜː_s_t_a_t ɹ_ˈɪ_s_k]\
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The cross currency risk when working hours of the banks to not meet due to time zones. It can cause a chain of cross defaults if business is not handles in a timely manner. A german bank called Bankhaus Herstatt is what it is named after when this occured
By Henry Campbell Black
Word of the day
basidiomycota
- comprises fungi bearing the spores on basidium: Gasteromycetes (puffballs); Tiliomycetes (comprising orders Ustilaginales (smuts) and Uredinales (rusts)); Hymenomycetes (mushrooms; toadstools; agarics; bracket fungi); in some classification systems considered a division of kingdom comprises fungi bearing spores on a basidium; includes Gasteromycetes (puffballs) Tiliomycetes comprising the orders Ustilaginales (smuts) and Uredinales (rusts) Hymenomycetes (mushrooms, toadstools, agarics bracket fungi).