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BNY Mellon’s Dominic Broom features in TFR’s roundtable discussion on how to reduce the trade finance gap

Due to increased compliance checks as part of heightened banking regulations, many banks are shying away from markets that might be regarded as “too expensive”. This has exacerbated an already large trade finance gap, which recent Asian Development Bank (ADB) figures quantify at US$1.6 trillion. In a TFR roundtable discussion which examines factors influencing the trade finance gap and what can be done to reduce it, Dominic Broom, Head of Trade Business Development, Treasury Services, BNY Mellon, considers the stresses on the current banking model, calls on regulators to address the problem, and discusses the importance of correspondent banking.

 

To read the full discussion, please click here. (Please note this article is behind a paywall)

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