International Bank Of Commerce Occupations
The International Chamber of Commerce (ICC) says rules set by bank regulators impose what it calls “unwarranted capital requirements” that are choking world trade and affecting growth. A meeting this week by the Basel Committee on Banking Supervision agreed that trade finance was a relatively low-risk activity for bankers. The Basel report was based on an analysis of the ICC trade finance default register, which tracks data from international banks and covers 60% of traditional global trade finance activity totalling $2500bn. The ICC report, titled Global Risks: Trade Finance 2011, shows fewer than 3000 defaults were observed out of 11,4-million transactions. “Trade will play a key role in tackling the jobs crisis,” said Jean-Guy Carrier, secretary-general of the ICC. “Economic growth depends largely on the capacity of Group of 20 governments to improve the conditions for international trade, including easing trade finance rules. Read More: Business Day The International Chamber of Commerce (ICC) says rules set by bank regulators impose what it calls “unwarranted capital requirements” that are choking world trade and affecting growth. A meeting this week by the Basel Committee on Banking Supervision agreed that trade finance was a relatively low-risk activity for bankers. The Basel report was based on an analysis of the ICC trade finance default register, which tracks data from international banks and covers 60% of traditional global trade finance activity totalling $2500bn. The ICC report, titled Global Risks: Trade Finance 2011, shows fewer than 3000 defaults were observed out of 11,4-million transactions. “Trade will play a key role in tackling the jobs crisis,” said Jean-Guy Carrier, secretary-general of the ICC. “Economic growth depends largely on the capacity of Group of 20 governments to improve the conditions for international trade, including easing trade finance rules. Read More: Business Day
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