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

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

Apple Result

Apple Result

Apple's iPhone sales beat Street but iPad volumes slide.  Full Article 

Nadella's Paycheck

Nadella's Paycheck

New Microsoft CEO Nadella's pay tops $80 mln with big stock awards.  Full Article 

Deregulation Impact

Deregulation Impact

Private fuel retailers to dip toe, not dive back, into India  Full Article 

Airport Accident

Airport Accident

Total CEO de Margerie killed in Moscow plane accident - airport spokeswoman.  Full Article 

Gold Import

Gold Import

RBI will not change gold import rules - sources  Full Article 

Idea Results

Idea Results

Idea Cellular Q2 profit up 69 percent  Full Article 

An RBI First

An RBI First

RBI releases minutes of financial stability council's Aug meet  Full Article 

IBM Earnings

IBM Earnings

IBM ditches 2015 operating EPS target, shares slump 7 pct  Full Article 

Reuters India Mobile

Reuters India Mobile

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