ICC Banking Commission teams with Global Credit Data for ICC Trade Register

Tuesday 9 October 2018 11:37 CET | News

The ICC Banking Commission has announced a long-term agreement with Global Credit Data to strengthen analysis within the ICC Trade Register.

The ICC Trade Register provides an objective view of the credit risk profile and characteristics of trade and export finance. Global Credit Data will now manage and oversee the collection of credit-related data from ICC Trade Register member banks. The cooperation will allow ICC and Global Credit Data to provide more granular data and detailed benchmarking reports to members.

The ICC Trade Register was established in 2011 and has since grown to include 22 member banks, covering over USD 10.5 trillion of exposures and more than 20 million trade finance transactions. The trade finance products included in the register have traditionally been letters of credit, loans for import/export and performance guarantees. The next edition, to be released in the first quarter of 2019, with Boston Consulting Group as a strategic partner, will expand to include supply chain finance products and export finance provided by non-OECD export credit agencies. Data collection for the report will begin in October 2018.

The latest ICC Trade Register, released in February 2018, revealed the low-risk nature of transactions that support global trade, and confirmed that trade finance products continue to present banks with low levels of credit risk.

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Keywords: ICC, International Chamber of Commerce, Global Credit Data, Trade Register, trade finance, trade, agreement
Countries: World

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