Basel regulators say aware of trade finance issues

GENEVA Thu Oct 14, 2010 6:14pm IST

A combination of photographs shows (top L-R) a worker silhouetted against an illuminated sign in a branch of HSBC; two people walking out of the headquarters of the Royal Bank of Scotland; (bottom L-R) a Lloyds bank branch near St Paul's Cathedral and a customer using a Barclays ATM, in central London, July 23, 2010. REUTERS/Andrew Winning/Files

A combination of photographs shows (top L-R) a worker silhouetted against an illuminated sign in a branch of HSBC; two people walking out of the headquarters of the Royal Bank of Scotland; (bottom L-R) a Lloyds bank branch near St Paul's Cathedral and a customer using a Barclays ATM, in central London, July 23, 2010.

Credit: Reuters/Andrew Winning/Files

Related Topics

Priyanka Gandhi Vadra, daughter of Congress party chief Sonia Gandhi, adjusts her flower garlands as she campaigns for her mother during an election meeting at Rae Bareli in Uttar Pradesh April 22, 2014. REUTERS/Pawan Kumar

Election 2014

More than 814 million people — a number larger than the population of Europe — are eligible to vote in the world’s biggest democratic exercise.  Full Coverage 

GENEVA (Reuters) - The Basel Committee on Banking Supervision declined to comment on Thursday on a meeting it had held the previous day with the International Chamber of Commerce (ICC) and Asian Development Bank (ADB) on trade finance.

But in a statement mailed in response to a Reuters inquiry, the Basel regulators said they had received formal comments from the ICC on the impact of proposed new rules, adding: "... in the case of trade finance, we are fully aware of the issues."

Trade finance practitioners say that proposed new banking regulations will push up the cost of trade finance, for which rules are set by the Paris-based ICC, although trade finance is safer than other forms of lending.

(Reporting by Jonathan Lynn; Editing by Stephanie Nebehay)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Asian Markets

Asian Markets

Asian stocks flat after China PMI meets expectations  Full Article 

Chinese Economy

Chinese Economy

Factory activity shrinks for 4th month; pace of decline slows   Full Article 

International Gold

International Gold

Gold hovers near 2-1/2 month lows on firm equities, fund outflows  Full Article 

GM Lawsuit

GM Lawsuit

GM seeks U.S. court protection against ignition lawsuits  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage