ABA’s international trade finance subsidiary, BAFT, yesterday launched a new Middle East and North Africa regional council to focus on the needs of banks in the region.
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Rep. Stephen Fincher (R-Tenn.) last week introduced a bill that would reauthorize the Export-Import Bank, whose congressional authority lapsed on July 1. The bill, H.R. 3611, is a companion to bipartisan legislation that enjoys broad support in the Senate.
ABA’s international finance subsidiary BAFT yesterday announced a new initiative to drive awareness of how innovative technology is transforming cross-border payments, trade finance and other transaction banking areas.
The U.S. Export-Import Bank has contributed positively to economic growth and its current expired state could “damage the U.S. economy,” Democratic staff for the Joint Economic Committee said yesterday in a new report.
Noting that many lenders turn to the U.S. Export-Import Bank to add balance sheet capacity and meet their customers’ needs, ABA’s global finance subsidiary BAFT today expressed its disappointment in Congress’ failure to reauthorize the Export-Import Bank before its charter expired last night.
As debate swirls on Capitol Hill about the future of the U.S. Export-Import Bank — whose charter is scheduled to expire on June 30 — the Senate Banking Committee will hold two hearings on Ex-Im this week: a roundup of perspectives on the bank’s function and usefulness tomorrow and an oversight hearing with the bank’s president, Fred Hochberg, on Thursday.
BAFT, the international financial services association that is an ABA subsidiary, today joined the Financial Services Roundtable in urging Congress to reauthorize the U.S. Export-Import Bank before its charter expires at the end of June.
The OCC today updated its Comptroller’s Handbook guidance on trade finance and services, consolidating three previous booklets issued in 1994, 1998 and 1999.