Current Issues

We serve as the industry’s voice before multilateral agencies, export credit agencies, finance ministries, central banks and legislative bodies. We collaborate around the world with other industry groups and trade associations. As a member of BAFT, we represent you in continually striving to:

  • develop international standards such as the “Master Participation Agreement” for trade risk
  • support the “national treatment” of financial firms in the markets where they do business
  • promote the harmonization of financial services regulation and supervision between countries
  • coordinate with private and public sector stakeholders to ensure that governments, multilateral agencies, and leading policymakers around the globe have substantive feedback and reliable data on market dislocations and industry trends
  • Advocate for the positive consideration of trade finance and transaction banking under the Basel capital and liquidity framework
  • Use common Trade Finance Definitions to standardize industry/regulatory terminology and facilitate prioritization of trade risk in sovereign events
  • Ensure the continuation of benefits afforded companies via ECA financing

Policy News

BAFT Updates USD Payments Information Chart

by Samantha Pelosi | Feb 26, 2020
BAFT recently updated its chart of information required by over 50 jurisdictions for the processing of both inbound and outbound USD wire transfers.

BAFT first issued the chart in 2016 as an appendix to the paper entitled Practices and Guidance for Formatting Payments and Handling Inquiries Related to the Financial Action Task Force (FATF) Recommendation 16.

A group of experts on large-value, cross-border payments sitting on BAFT’s Payments Committee brought the information in the chart up to date through end of calendar year 2019.  Samantha Pelosi, Senior Vice President for Payments & Innovation at BAFT remarked that, “We are happy to provide this invaluable resource to the correspondent banking community again this year.”

The chart available to BAFT members at no charge and to non-members for a nominal fee.  It can be found on the BAFT website in the Library of Documents, under “Best Practices and Industry Standards”.