The UK Financial Conduct Authority (FCA) plans to transition from the London Interbank Offered Rates (LIBOR) to Risk-Free Rates (RFRs) by the end of 2021, to restore trust and integrity in the market. This shift comes after several banks manipulated their interest rates for profit, disturbing trust in the global economy.
Steven Lauricella explains the five things CFOs and Treasurers need to know about the new regulations, and how alternative solutions can be harnessed to fund crucial supply chain initiatives.
Merchants would go on voyages for several weeks, if not months, in a caravel, carrack or clipper to the Far East, or elsewhere, to buy cotton, wool, tea, spices or other commodities. They would be equipped with a Letter of Credit in their trunk, often handwritten by the clerk of their high street banks.
The UK and ten major trading partners have agreed to end export credit support for unabated coal-fired power plants
Your Monday morning coffee briefing from TFG: The UK agrees to a historic trade deal with New Zealand – among the first of such deals in the post-Brexit era. A new ICC report estimates that full digitalisation could add $9 trillion to G7 trade by 2026. The UK Financial Conduct Authority (FCA) offers more details on its synthetic LIBOR plans. Macquarie strengthens its position as a global shipping lender, with a total market value of over $3 billion. And we hear from ITFA’s Andre Casterman and Johanna Wissing on fintech and ESG for trade finance respectively.
The pandemic and the ensuing disruptions in how the world produces, transports, stores, and consumes bulk commodities is placing physical inventory control and monitoring in the cross-hairs of revolutionary change.… read more →
A new ICC report, released yesterday, estimates that if G7 countries can deliver on legal reform, standardisation, and adoption of digital records, then trade between them could rise by about 43% above its 2019 value by 2026.
Trade and supply chain finance provide innovative solutions for the working capital gap faced by growing companies.
A ‘synthetic LIBOR’ safe house will be available following LIBOR cessation at the end of 2021
In most countries, small and medium enterprises are important contributors to economic welfare. This is the main reason why a digitalized trade system can open more opportunities to further SME growth.
