ADB, ICC Meet Basel Secretariat to Discuss Trade Finance

News Release | 14 October 2010

MANILA, PHILIPPINES - The Asian Development Bank (ADB) and International Chamber of Commerce (ICC) yesterday met with the Basel Secretariat to discuss the findings of the ICC-ADB Trade Finance Default Register in relation to impending Basel III rules on bank capital adequacy.

ICC and ADB teamed up to create the pilot ICC-ADB Register - a compilation of 5.22 million trade transactions from commercial banks - which shows that trade finance carries a relatively low probability of loss and therefore should be considered a different asset class from more risky forms of finance.