BAFT, ABA’s global transaction banking subsidiary, today announced the publication of two updated best practices guides on the Distributed Ledger Payment Commitment, a global standard for payment commitment that can be used on any blockchain network and can operate across networks.
BAFT, ABA’s global transaction banking subsidiary, announced today that Jose Luis Calderon has been appointed the new chairman of its Transaction Banking Global Leaders group.
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.
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.
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.