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

Letter Supporting Anti-Money Laundering (AML) Reform Provisions in National Defense Authorization Act

by Samantha Pelosi | Jul 21, 2020
On July 20, BAFT, along with the ABA and others, urged House Armed Services Committee leaders to include key AML provisions in the 2021 NDAA.
BAFT along with nine other trade associations had urged House Armed Services Committee leaders to include key anti-money laundering provisions in National Defense Authorization Act (NDAA). The provisions would direct the Financial Crimes Enforcement Network to establish and maintain a registry of beneficial ownership information and also modernize Treasury authorities and certain anti-money laundering requirements.

The groups noted that these provisions will “assist in preventing money laundering, human trafficking, drug smuggling, terrorism financing, fraud and other illicit activity.” These provisions passed the House with a bipartisan majority in a standalone bill last year.

To view the joint letter, visit our Library of Documents under the Comment Letters section.