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
- Missouri grand jury makes decision in fatal shooting of black teen
- Hagel, under pressure, resigns as U.S. defense secretary |
- Congress signals it could back Modi's insurance reform plan
- Jindal Steel shelves $10 bln project after coal setback
- EU lawmakers say not forging ideological war against Google
The reformist government that many Indians and free-market flag-bearers had hoped would emerge after this year's election isn't in New Delhi - at least not yet. Rajasthan, derided as a poverty-stricken laggard, has taken the lead on structural reforms that, their backers argue, could also help Asia's No.3 economy as a whole to attract business and employ a fast-growing workforce. Full Article
Hyundai Motor, Kia Motors lift 2014 global sales target on China, emerging markets Full Article