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 Why trade finance is soaring at ADB
Why trade finance is soaring at ADB
Katharine Morton
11 June 2018

Trade finance business is booming at the Asian Development Bank. Katharine Morton spoke to Steven Beck, the ADB’s head of trade and supply chain finance, at the ICC Banking Commission annual meeting in Miami about the reasons underpinning the growth and whether derisking is having an impact.

Change of clothing: Can ECAs become champions of sustainability?
Change of clothing: Can ECAs become champions of sustainability?
Oliver Gordon
5 June 2018

The ICC has established a working group aimed at fostering a greater sustainable development agenda in export finance. Is it just tinkering? And does it have any chance of making real change?

Beyond the wild west in factoring
Beyond the wild west in factoring
Katharine Morton
31 May 2018

Peter Mulroy, Secretary General of FCI spoke to Katharine Morton at the ICC banking commission annual meeting in Miami about how trust is helping factoring move beyond the ‘wild west syndrome’ and how transparency is vital for building trust in the future of reverse factoring

Expert briefing: Turning BAD into good?
Expert briefing: Turning BAD into good?
Alvin Shen
25 May 2018

Have you ever wondered how Chinese companies finance domestic trade? Alvin Shen, CEO and managing partner of Broader Way Group, explains what at first glance may seem an opaque tool, Banker Acceptance Drafts (BADs), and how they are evolving.

ICC Global Survey: Compliance and regulation stifling future trade finance
24 May 2018

Compliance and regulation are the biggest drags to the provision of trade finance in the future. That’s according to 93% of respondents to the I...

ICC survey finds tech solutions not yet boosting efficiency of banks
23 May 2018

Sixty per cent of banks are moving towards greater digitalisation - but only 9% say technology solutions have so far boosted efficiency, according to the International Chamber of Commerce's 10th annual Global Survey.   In what the report describes as a "reality check", 30% of respondents say their banks remain between one and two years away from implementing technology solutions, while 7% say digitalisation is not on their agenda at all.

Trade risk: Two measures in one
Trade risk: Two measures in one
Katharine Morton
23 May 2018

TXF’s Katharine Morton caught up with Daniel Schmand, chair of the ICC Banking Commission and global head of trade finance at Deutsche Bank, at the ICC Annual Meeting in Miami to talk about his outlook for trade and trade finance, and how non-financial risk in trade should be measured before making bold statements about how risky trade finance is.

Beyond the wild west in factoring (24 mins)
Beyond the wild west in factoring (24 mins)
Henry Nichol
18 May 2018

Peter Mulroy, Secretary General of FCI spoke to Katharine Morton at the ICC banking commission annual meeting in Miami about how trust is helping factoring move beyond the ‘wild west syndrome’ and how transparency is vital for building trust in the future of reverse factoring.

Pricing dip: TXF-ICC Global Export Finance Survey 2018
Pricing dip: TXF-ICC Global Export Finance Survey 2018
Max Thompson
11 May 2018

The TXF-ICC Global Export Finance Survey 2018 incorporates the pricing and liquidity views of 65 senior export finance practitioners at leading banks, ECAs, exporters and importers. The findings are familiar.

The dog that didn’t bark: Is derisking over?
The dog that didn’t bark: Is derisking over?
Katharine Morton
9 May 2018

The hush that has fallen over the banking markets about derisking correspondent banking relations could be read as meaning derisking is the dog that didn’t bark. Is derisking over? Or has the dog been muzzled?

Another confusing link to the blockchain
Another confusing link to the blockchain
Oliver Gordon
8 May 2018

As a growing number of blockchain initiatives start live testing, albeit in controlled environments, trade tech is moving to an even more confusing level – a plethora of rival product claims backed by proofs of concept. Choice of tech and provider is about to get even more complicated.

ICC’s Schmand: Focus on non-financial risk measurement before saying trade finance is low risk (12 mins)
ICC’s Schmand: Focus on non-financial risk measurement before saying trade finance is low risk (12 mins)
Henry Nichol
8 May 2018

Daniel Schmand, chair of the ICC Banking Commission and global head of trade finance at Deutsche Bank caught up with TXF’s Katharine Morton at the ICC Annual Meeting in Miami about his outlook for trade and trade finance and how non-financial risk in trade can be viewed.

ICC UK calls for unified voice for progress on digital trade
18 April 2018

Many barriers to digital trade, such as misaligned national regulations, poor infrastructure, low use of electronic payments, undeveloped legal systems, low purchasing power, lack of enforcement capability and low levels of digital skills, can be solved by better aligning development assistance with digital trade priorities, says the International Chamber of Commerce UK.

Why trade finance is soaring at ADB (16 mins)
Why trade finance is soaring at ADB (16 mins)
Henry Nichol
13 March 2018

Trade finance business is booming at the Asian Development Bank. Katharine Morton spoke to Steven Beck, the ADB’s head of trade and supply chain finance, at the ICC Banking Commission annual meeting in Miami about the reasons underpinning the growth and whether derisking is having an impact.

John Denton and Paul Polman to take up ICC leadership roles
8 March 2018

John Denton, currently Chief Executive Officer of Australian law firm Corrs Chambers Westgarth, has been elected as the next Secretary-General of the International Chamber of Commerce (ICC). He will succeed outgoing ICC Secretary General John Danilovich. Paul Polman, CEO of Unilever, has also been elected as ICC's new First Vice-Chair. Mr Polman will succeed current ICC Chairman Sunil Bharti Mittal from 1 July, who in turn will take the position of Honorary Chair.

ICC report highlights low risk of trade and export finance products
7 March 2018

Default rates for trade finance products ranged from 0.03% to 0.24% - a more favourable credit risk than is posed by other banking activities, such as enterprise lending, according to the International Chamber of Commerce's 2017 Trade Register. The report also found that the average time it takes banks to recover their loans for trade finance products is 120 days, compared to 437 days for other asset classes.

ICC Banking Commission announces Annual Meeting in Miami
28 February 2018

The Banking Commission of the International Chamber of Commerce (ICC), in collaboration with the Florida International Bankers Association, has announced details of the 2018 Annual Meeting, to be held for the first time in Miami on 3-6 April. Under the theme "Navigating Trade in a World of Disruption", the event will focus on thriving in an environment where the "new normal" is one of uncertainty. The Annual Meeting will gather more than 500 trade experts, banking professionals, business leaders, lawyers and government officials from over 65 countries, featuring a series of informative and interactive plenary and breakout sessions, as well as roundtable discussions addressing global challenges and financing trends.

Navigating trade finance: how should banks monitor suspicious shipping activity?
Navigating trade finance: how should banks monitor suspicious shipping activity?
Byron McKinney
8 February 2018

Byron McKinney, product manager at Accuity, discusses the latest case of illicit shipping activity and why financial institutions need to keep a close eye on the trades they finance, including how the goods are transported.

ICC Trade Register confirms low risk profile for trade and export finance
8 February 2018

The International Chamber of Commerce (ICC) Banking Commission has released its 2017 Trade Register report - Global Risks in Trade Finance. The report reveals the low-risk nature of transactions that support global trade, and confirms that trade finance products continue to present banks with low levels of credit risk.

Ruta al Mar: Opening a new 4G funding fast lane
Ruta al Mar: Opening a new 4G funding fast lane
Oliver Gordon
5 February 2018

A pioneering loan/bond financing for Colombia's Ruta al Mar highway project may serve as the shot in the arm needed to reignite appetite for the country’s 4G roads financing programme after a year spent on the sidelines.

ICC Global Trade Finance Survey 2018 - take part now
18 January 2018

Participate now in ICC’s Global Survey to include your voice in the world’s most comprehensive study on trade finance and supply chain finance developments. Due to be released in April, the 10th anniversary report will inform trade finance practitioners of the latest industry trends. Register here and complete the questions before 30th January.

Blockchain in trade: are we missing the point?
Blockchain in trade: are we missing the point?
Helen Castell
8 January 2018

Amid the hype around blockchain, is the market losing sight of what the technology can really do for trade finance – and what it can’t?

ICC launches its 10th global survey on trade finance
7 December 2017

The International Chamber of Commerce is once again asking banks from around the world to voice their experience and expertise in the ICC Banking Commission trade finance survey. The study covers banks' traditional trade finance and supply chain finance activity and comprises 38 questions in two separate sections.

ICC Banking Commission explores trade finance digitisation
9 November 2017

The International Chamber of Commerce (ICC) Banking Commission's new working group on digitisation explored at its recent 2017 technical meeting in London how digitisation might help the trade finance industry improve transparency, make time and cost savings and cut compliance and operational risk.

Time to stand up and be counted
Time to stand up and be counted
Peter Sprent
26 September 2017

The volume of private insurance market credit risk mitigation is growing – but does the industry do enough to voice its activities and concerns to regulators?

Blockchain or blocked chain?
Blockchain or blocked chain?
Lucy Palfreeman
23 August 2017

What happens to a blockchain proof of concept (PoC) after delivery? TXF looks back at the prototypes that didn’t progress, those that still might, and questions whether the digital ledger truly has the potential to disrupt the trade finance industry.

Aela Energia: Shaking the DFI money tree
Aela Energia: Shaking the DFI money tree
Max Thompson
16 August 2017

Having just closed a $410 million DFI-backed wind portfolio financing in Chile, Aela Energia is talking to the same lenders about financing for the next stage of its pipeline of Chilean wind projects.

Aela Energia wind farm financing in Chile closed
15 August 2017

The Inter-American Investment Corporation (ICC) is providing $135 million as part of $410 million of project debt to back Aela Energia's contruction of three wind projects in Chile. MUFG, SMBC, Korean Development Bank, CaixaBank and KfW are providing the remainder of the debt. The projects are being funded on a 70/30 debt-to-equity ratio.

Growing trade with China could boost use of documentary products
3 August 2017

While documentary trade globally continues to decline in favour of open account, Beijing's preference for being able to track imports and exports and detect global capital flight could support the use of documentary trade products, according to the ICC's annual Trade Finance report.

UN endorses ITFA, ICC forfaiting rules
3 August 2017

The Uniform Rules for Forfaiting (URF 800) published by ITFA and the ICC have received further distinction of approval and endorsement by the United Nations Commission on International Trade Law.

Part 2: TXF-ICC Global Export Finance Survey 2017
Part 2: TXF-ICC Global Export Finance Survey 2017
Max Thompson
27 July 2017

The second instalment of the TXF-ICC Global Export Finance Survey 2017 – which complemented the ICC’s 2017 Rethinking Trade & Finance report – incorporates the more general market trends witnessed by 100 senior export finance practitioners at leading banks, ECAs, and exporters and importers. Again, the results will surprise.

Terna raises cheap debt for Melo-Tacuarembo transmission
19 July 2017

Terna has raised an $81 million A/B loan from the Inter-American Investment Corporation (IIC) – part of the Inter-American Development Bank (IAD...

The power of SMEs: Driving the digital trade finance revolution
The power of SMEs: Driving the digital trade finance revolution
Raphael Barisaac
13 July 2017

Although large and multinational corporates tend to grab the trade tech headlines, when it comes to digital trade finance innovation, SMEs not only stand to benefit from digital trade finance tools, but are well placed to help drive wider adoption.

Pricing perceptions: TXF-ICC Global Export Finance Survey 2017
Pricing perceptions: TXF-ICC Global Export Finance Survey 2017
Max Thompson
13 July 2017

The TXF-ICC Global Export Finance Survey 2017 – which complemented the ICC’s 2017 Rethinking Trade & Finance report – incorporates the pricing and liquidity views of 100 senior export finance practitioners at leading banks, ECAs, and exporters and importers. The results will surprise.

ICC survey confirms trade finance supply/demand imbalance
4 July 2017

The International Chamber of Commerce (ICC) Banking Commission has released its 2017 report, Rethinking Trade and Finance. It finds that 61% of banks report more demand than supply for trade finance in the global market.

ICC Academy launches digital trade finance course
20 June 2017

The International Chamber of Commerce's educational arm has launched an advanced-level e-course entitled Digital Trade Finance and Fintechs. The ICC Academy course will give executives from banks, corporates, fintechs and insurers an overview of digital trade finance and commerce, plus legal and regulatory challenges.

ICC launches working group on digitalisation of trade finance
7 June 2017

The ICC Banking Commission has launched a working group to coordinate all work relating to the digitalisation of trade finance. It will be chaired by Michael Vrontamitis, global head of trade, product management transaction banking at Standard Chartered.

ICC: UK 7th out of G20 countries in participation at B20
25 May 2017

The UK ranks seventh out of all G20 countries in participation at B20, which provides the platform for businesses to engage with G20 governments in shaping global trade and economic policy. The ranking highlights the need for UK business to improve engagement at global level.

ICC welcomes UN focus on $1.6trn SME trade finance gap
25 May 2017

The International Chamber of Commerce (ICC) has welcomed official recognition in the UN's annual Financing for Development review of the estimated $1.6 trillion trade financing gap for SMEs.

Unveiling the companies represented at TXF Venice 2017
Unveiling the companies represented at TXF Venice 2017
Hesham Zakai
23 May 2017

Hundreds of market leading organisations have confirmed their attendance at the most spectacular event of the year for project, infrastructure, export and agency finance.

ICC UK AGM: Building Bridges Post-Brexit
15 May 2017

The International Chamber of Commerce UK's Annual General Meeting on 24 May will be followed by a panel session, 'Building Bridges Post Brexit'. It takes place at the Law Society, Chancery Lane, London, and will focus on giving business a practical insight into WTO and UNCTAD priorities. The panel will be chaired by the Rt Hon Baroness Bottomley of Nettlestone, and speakers will include Bernard Kuiten, Head of External Relations, WTO; Sir Roger Carr, Chairman, BAE Systems; Steve Varley, Chairman and UK&I Managing Partner, EY; and James Zhan, Director of Investment and Enterprise, UNCTAD.

Time to stand up and be counted
Time to stand up and be counted
Peter Sprent
9 May 2017

The volume of private insurance market credit risk mitigation is growing – but does the industry do enough to voice its activities and concerns to regulators? By Peter Sprent, Head of Global Financial Risk at Liberty Specialty Markets and Audrey Zuck, Director, A2Z Risk Services Ltd.

ICC Jakarta conference focuses on world trade digitisation
21 April 2017

Ian Kerr, CEO of Bolero International, reports on a strong focus on digitisation in trade finance at the International Chamber of Commerce (ICC) Banking Commission's 2017 conference.

Getting the balance right: EBF advocating wider ECA exemptions to leverage ratios
Getting the balance right: EBF advocating wider ECA exemptions to leverage ratios
Sean Keating
5 April 2017

Despite progress last year, key clauses in the Capital Requirement Regulation Leverage Ratio (CRR LR) regime still threaten to hit the availability and cost of European ECA-covered loans. The European Banking Federation is generating support for further revisions to ensure fair treatment and an ECA-covered loan 0% leverage ratio without caveats.

ICC Banking Commission launches questionnaire for annual trade finance report
31 March 2017

The International Chamber of Commerce (ICC) Banking Commission has released the questionnaire behind its annual trade finance report, urging banks globally to participate by April 20. The 2017 survey will examine trade finance and supply chain finance trends, strategy and evolution, plus operational, product and sales-related areas.

Opinion: An evolving Trade Register is essential to trade finance
Opinion: An evolving Trade Register is essential to trade finance
Olivier Paul
31 March 2017

Olivier Paul - Head of Policy, the International Chamber of Commerce (ICC) Banking Commission - outlines the continuing value of ICC’s Trade Register project, its successes to date, and its challenges and future evolution given current market conditions.

Last chance to register for the ICC Banking Commission Annual Meeting in Jakarta, 3-7 April 2017
14 March 2017

Don’t miss out on the opportunity to attend the event, gathering 400+ banking executives and government officials from more than 65 countries to rethink the future of trade finance, and encourage governments, regulatory bodies and G20 leaders to discuss the most challenging issues in this ever-changing industry. Registration deadline: 17 March.

ICC appoints trade finance expert Dominic Broom to committee
3 March 2017

Dominic Broom, global head of trade business development for treasury services at BNY Mellon, has been appointed a member of the International Chamber of Commerce (ICC) Banking Commission's Executive Committee.

Spring 2017 ICC Banking Commission Annual Meeting
1 March 2017

The ICC Banking Commission meetings are the only events of their kind gathering 500+ banking executives and government to rethink the future of trade finance, encourage governments, regulatory bodies and G20 leaders to remove obstacles to stimulate economic. Find out more and sign up here.

Fit for purpose
Fit for purpose
Sean Keating
22 February 2017

As Basel IV looms, the trade finance industry persists with claims about low default risk, market shrinkage and cuts in availability. But the data is simply not there to make a definitive case.