Browsing: Trade finance

Commercial Lending

The American Bankers Association and a coalition of financial trade groups wrote in support today of the Adjustable Interest Rate (Libor) Act to address “tough legacy” contracts that currently reference Libor but lack adequate fallback language and can’t be amended to add it.

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In a joint statement today, the Commodities Futures Trading Commission’s Market Participants Division and Division of Market Oversight emphasized to market participants and swap execution facilities the importance of an orderly transition away from Libor.

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BAFT, the American Bankers Association subsidiary association for international transaction banking, today released a frequently asked questions guide on the Libor transition.

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BAFT—ABA’s global transaction banking subsidiary—today published a set of principles regarding the essential criteria for use and structuring of payables finance, a financial product providing support for the global economy.

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