Fed: Costello says claims of Treasury forex losses are false =2

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Fed: Costello says claims of Treasury forex losses are false =2

Asked whether he authorised the suspension of guidelines to allow further transactionsto occur after October 2000, Mr Costello said: "We ended the policy. That's what I said.

We ended the policy. I ended the policy."

Asked again, he said: "I ended the policy of having a benchmark of foreign currency.

That's what I did."

Mr Costello said he ended the policy in the last year or so.

"The …