BAFT News and Press Releases

Please direct all media inquiries to Blair Bernstein (Public Relations) or Gregory Kramer (General Communications).

BAFT-IFSA Applauds European Recognition of Trade Finance in Basel III Implementation, Urges Global Harmonization

by Tod Burwell, President and CEO, BAFT-IFSA | Apr 16, 2013
“We commend the European Union for recognizing how important trade finance is to economic growth in their adoption of the Capital Requirements Directive IV, implementing Basel III in the EU. Amendments agreed by the EU institutions on capital, leverage and liquidity requirements for trade finance recognize the intrinsically safe nature of these products and their importance to companies, consumers and job creation.

          “Through these amendments, the European Union has taken significant steps to alleviate the regulatory burden for trade finance and to ensure it remains available and affordable to importers and exporters. This is a positive outcome for the real economy, and we ask the G-20 and the Basel Committee to recommend that these Basel III changes be adopted in all member jurisdictions around the world.

          “We will continue to work with the business community and other financial industry groups to encourage regulators to harmonize these sensible, pro-growth changes during the global implementation process.”

Click here to read a one-page summary of these amendments.