Working Group on Trade, Debt and Finance - Changes to the prudential framework governing trade finance - Information note by the Secretariat
- Secretariat
- 2011/11/07
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World Trade
Organization WT/WGTDF/W/60
28 October 2011 (11-5469) Working Group on Trade, Debt and Finance
Changes to the prudential framework governing trade finance
Information Note by the Secretariat
On 25 October 2011, the Basel Committee on Banking Supervision (BCBS) announced changes to the prudential framework governing trade finance, in particular changes aimed at facilitating the financing of trade between low-income countries and the rest of the world, while not jeopardizing the safety and soundness of the financial system. A review of certain regulatory provisions governing trade finance had been commissioned by the G-20 Summit in Seoul, in particular under Article 41 of the Seoul Summit Document. The BCBS held several rounds of discussion with the representatives of the WTO, the World Bank and the International Chamber of Commerce. Progress reports have been provided by the WTO Secretariat to Members through its regular reporting of the activ