The leading international transaction banking association

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On January 16, BAFT made its’ submission to the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation (FDIC)  in response to the agencies proposed Basel III Endgame Framework. The Comment Letter included supporting documentation including the ICC Trade Register and the ICC GCD Guarantee Update.

BAFT has released an updated version of its guidelines for respondent banks in a bid to better equip them to maintain their correspondent banking relationships amid an increasingly complex regulatory environment. The Respondents’ Playbook 2.0: A Correspondent Banking Relationship Guide serves as a roadmap for respondent banks on international anti-money laundering (AML) and combating the financing of terrorism (CFT) standards. The updated document is available via download to BAFT members for free and to non-members for purchase.

BAFT's Senior Vice President of Trade, Scott Stevenson, moderated the session 'Receivables Financing for Mid-caps: Democratization through Innovation' at GTR US 2023 New York. The panel of industry peers from U.S. Bank, FCIA Trade Credit Insurance, and Peridot Financing discussed working capital financing, corporate treasury, trade tech and more. This discussion highlighted the trends driving demand for these working capital lines and enabling mid-caps access, from increasing tech adoption to supplier diversification and the arrival of new non-bank financing providers.

Tod Burwell, BAFT President & CEO, lead the BAFT Africa Council roundtable and luncheon hosted by J.P. Morgan at their London office. BAFT Africa Council Co-Chairs Derryn Faure, representing Investec Bank, and John Kinyangi, representing Standard Bank Group, were in attendance and key to arranging the agenda and logistics along with May Okail Wafa from J.P. Morgan. Thank you to all of our Africa Council members for your participation, support and leadership.