As financial institutions around the globe continue preparing to transition financial contracts away from the London Interbank Offered Rate, which is not guaranteed to be sustained after 2021, BAFT—ABA’s global transaction banking subsidiary—and the International Trade and Forfaiting Association noted that the transition could have implications for master participation agreements.
Browsing: Trade finance
With $1.57 billion in assets, HAB Bank isn’t big — but it’s a community bank with global reach. The New York-based institution provides correspondent banking services for 140 banks in 20 countries, primarily in South Asia and East Asia. Saleem Iqbal discusses how HAB Bank competes in this global marketplace.
In a 71 to 23 vote this afternoon, the Senate approved a spending package for the current fiscal year, funding the government through Sept. 30, 2020.
The House today approved a spending package for the current fiscal year, funding the government through Sept. 30, 2020. The Senate is expected to vote on the spending bills later this week.
ABA and BAFT—the association’s global transaction banking subsidiary—today joined several other trade groups in a letter to members of Congress urging them to support bipartisan legislation granting a 10-year reauthorization to the U.S. Export-Import Bank.
U.S. Export-Import Bank Chairman Kimberly Reed said today that she is currently in the process of working through $40 billion in applications that the bank received while it was awaiting reauthorization by Congress.
Ten factors financial institutions should look out for in strengthening their OFAC compliance programs.
BAFT—ABA’s global transaction banking subsidiary—today joined a coalition of more than 200 organizations and companies calling on Congress to pass a robust and long-term reauthorization of the U.S. Export-Import Bank before its charter expires at the end of September. T
The Global Supply Chain Finance Forum—which includes BAFT, ABA’s global transaction banking subsidiary—today released a new guidance document on receivables discounting technique.
BAFT, ABA’s global transaction banking subsidiary, today released an updated New York law master participation agreement, which serves as the industry standard for secondary market transactions to facilitate the buying and selling of trade finance-related assets globally.