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Trade Finance and Basel III


04 July 2012

Basel III will align the manner in which the leverage ratio is to be measured internationally by providing for the imposition of a flat 100% credit conversion factor to almost all off-balance sheet items.  This will increase the cost of letters of credit, import financing and other trade loans. Banks have been investigating legal structures to transfer trade finance obligations off their balance sheets to third party investors.  This article looks at the possibility of extending the principles of securitisation to trade finance.



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