The International Chamber of Commerce (ICC) Banking Commission has released its 2017 Trade Register report—Global Risks in Trade Finance. The report reveals the low-risk nature of transactions that support global trade, and confirms that trade finance products continue to present banks with low levels of credit risk.
The 2017 Report draws on information from 22 member banks to present a global view of the credit risk profiles of trade and export finance transactions. It is based on over US$10.5 trillion of exposures and more than 20 million trade finance transactions from 2008 to 2016. The trade finance products in the register are Import Letters of Credit (L/Cs), Export L/Cs, Loans for Import/Export, and Performance Guarantees, and the 2016 Trade Finance data set includes approximately 40% of global traditional Trade Finance flows, excluding Loans for Import/Export.
Following Moorgate’s outreach, the news was covered by: TXF, Trade Finance Global, Hellenic Shipping News, FTSE Global Markets, FinTech Finance, TRF, Global Banking & Finance, Freight & Trade Weekly, New Telegraph, CPI Financial, Cash & Trade, Export Manager, Trade Arabia, Leasing Life, PYMNTS and L’Economiste.