Basel regulators say aware of trade finance issues
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)
- Tweet this
- Share this
- Digg this
- In his native Alabama, Apple CEO's announcement he is gay prompts discomfort for some
- Air strikes hit Kobani as Kurdish peshmerga prepare to enter
- Islamic State fighters kill 220 Iraqis from tribe that opposed them
- SEBI piles pressure on Sahara to sell overseas hotels
- China expresses concern about Indian plan to build border posts
Shares Hit Record
The BSE Sensex and Nifty surged to record highs for a second consecutive session on Friday after Bank of Japan's surprise expansion of its massive stimulus programme raised hopes for additional foreign inflows, boosting blue-chips such as Larsen & Toubro. Full Article
China's shadow banking sector growing rapidly, third largest in world - FSB. Full Article