SAN FRANCISCO - A majority of 200 multinational companies surveyed by Bank of America made no change in their hedging practices in the wake of serious risk management failures reported in 1994.

The events caused more than half the responding companies to review their hedging policies and practices, nearly 40% presented their review findings to senior management, and one in four submitted those findings to boards of directors, but in the majority of companies, no significant changes were implemented.

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