Export finance banks call for level playing field

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22 January 2010

Global heads of export finance from 13 leading banks gathered today in Paris to discuss issues that impact on the ECA-backed business line.

The inaugural Global Heads Export Finance Forum (GHEFF) took place in Paris today (22 January 2010) hosted by Sociéte Générale (SG) Export Finance and in cooperation with Euromoney’sTrade Finance Magazine. With 13 heads taking part, this was the largest and first such gathering of global heads outside of Euromoney Seminars annual Global Export Finance (GEF) Conference. Banks taking part in the Forum are estimated to represent around 80% of the ECA-backed global trade market.

Key issues of the export finance business line were discussed that have serious implications for global trade. Topping the list of topics was the detrimental effect on banks that the Basel II proposals to strengthen capital and liquidity are expected have. Takahisa Yano, Global Head of Trade Solutions and Export...

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Poll

Will Russia’s recent ban on grain exports result in a significant rise in private risk insurance claims from grain traders unable to fulfil their contracts?

Yes – there will be more claims. The government’s actions allow traders, with PRI cover, to make claims through contract frustration.

No - the majority of Russia’s wheat production, some 70%-80%, is used for domestic consumption so the contracts represent only a small portion of the total wheat market, limiting the amount of potential claims.

23%

No - traders had a week’s notice before the ban allowing them to secure alternative supplies to fulfil contracts stated as optional origin.

23%

Maybe - but claims are likely to be limited to traders dealing in soft wheat whose contracts demand they source wheat only from Russia.

46%