GTR Magazine - May/June 2008
GTR Magazine: May/June 2008
IFC Update
IFC leaps defiantly into new markets. In March, the IFC's global trade finance programme hit the US$2bn mark in terms of cumulative guarantees issued. It seems the emerging market-focused scheme has yet to feel the impact of any economic downturn.
Legal Review: Toughening up on deal structures
With liquidity tightening globally, trade finance deals are likely to become more tightly structured, with the finer details of transactions facing heightened scrutiny. Coupled with the potential threat of increasing defaults and litigation cases, law firms will have plenty of work on their hands, writes Helen Castell.
Who's the best law firm in trade finance?
GTR has received and counted votes by email for its annual readers' poll of the best trade finance law firms 2008.
Legal Review: Roundtable Discussion
Weighing up legal perspectives. GTR brought together nine leading lawyers in the trade and commodity finance market to discuss key issues affecting the way they advise their clients. The lively debate provided an enlightening perspective on the pitfalls and challenges of structuring trade deals in an uncertain marketplace. Stephenson Harwood kindly hosted and sponsored the roundtable.
The Nordic Region: Swedish Focus
Applying Swedish style to trade finance. Interest in the emerging markets has heightened among Swedish corporates. Trade finance is one way exporters can support their overseas growth, but Sweden's trade banks will need to ensure they can offer an efficient service to secure their business, writes Rebecca Spong.
The Nordic Region: EKN adjusts to new mandate
In July 2007, EKN, Sweden's export credit agency (ECA), was granted a new mandate aimed at better supporting the increasingly globalised nature of Swedish corporates" business. Its new policy removed the need to ensure a required level of national content in an export transaction.
The Nordic Region: Denmark & Norway
Despite a high level of competition for business in Denmark and Norway, the trade finance market still manages to attract new players. Rebecca Spong reviews bank tactics and economic developments in the Nordic region.
China: Agencies to the rescue
Once considered a backwater source of trade finance, China's Sinosure and the Export-Import Bank of China are supporting more and more transactions as funding becomes more expensive, writes Erika Morphy.
US Ex-Im and Local Currency Financing
US Ex-Im considers waiving crystallisation clauses in local currency financing. The US Export-Import Bank (US Ex-Im) is holding internal discussions whether it should strike crystallisation clauses from its local currency finance offerings.
A banker's perspective on US Ex-Im
In April the US Export-Import Bank (US Ex-Im) held its annual conference in Washington DC. GTR catches up with one of the delegates, Gema Sacristan, director, export and agency finance - Americas, global trade finance, at BBVA, to chat about the conference and how US Ex-Im is supporting BBVA's export finance activities.
Brazil: Barren market for long-term funding
The credit crisis is thrusting Brazilian trade banks further into the international market. Long-term financing is drying up. Luis Waldmann caught up with some of them in So Paulo recently.
Factoring Focus: Market Update
Once a second-tier form of finance, factoring's new value proposition is meeting the needs of even large multinationals, writes Erika Morphy.
Factoring Focus: Fimbank Q&A
Factoring in the emerging markets. GTR catches up with Gilbert Coleiro, managing director of Fim Business Solutions, and Silvio Mifsud, executive vice-president, head of information and administration, Fimbank, to find out more about the bank's future in factoring.
Collateral Management: Market Review
Stabilising your risks in commodity financing. Volatility in food and energy prices and changing government export legislation are just some of the market trends forcing commodity companies to re-address their risk profiles. Using a collateral manager is becoming a popular option to mitigate risks. Cotecna's Matthieu Delorme examines the collateral management industry.
Post-Sibos SCF Developments
SCF weathering economic doom. Following on from the last Sibos where there was much talk of adopting supply chain finance. GTR contacted a few exhibitors to see how that potential business has developed since then. Justin Pugsley reports.
SME Financing Technology
New light LC to boost small transactions. The area of small international transactions has been ill-served by the payments industry. As a result SMEs find it difficult to trade with foreign counterparties securely. But this about to change thanks to an innovative UK technology company. Justin Pugsley reports.
