ITFA responds to UK PRA and FCA letter on trade finance

Regulators in the UK published a letter to all CEOs warning of certain shortfalls in the conduct of trade finance business in the UK. See here for the letter.

Whilst we support the general sentiment for banks to carefully due diligence their transactions and mitigate risk, some of their suggestions cut across well-established and safe market practice in supply chain finance. ITFA has therefore responded to the regulators to request further guidance for this market. The letter can be accessed here.
Copy link
Powered by Social Snap