The International Chamber of Commerce (ICC) Banking Commission has announced a long-term agreement with Global Credit Data (GCD), boosting the scope of the market-leading ICC Trade Register.
With the next report due to be released in early 2019, the GCD will oversee the collection of banks’ credit-related data, strengthening the breadth and analysis of the Trade Register.
The ICC Trade Register is one of the few comprehensive sources to provide an objective and transparent view of the credit risk profile and characteristics of trade and export finance. This new cooperation will now allow ICC and GCD to provide more granular data and detailed benchmarking reports to members.
Established in 2011, the ICC Trade Register had since grown to 22-member banks, covering over $10.5 trillion of exposures and more than 20 million trade finance transactions.
Krishnan Ramadaurai, Chair of the ICC Trade Register project, said: ““The ICC Trade Register is an indispensable tool for the global banking system and policymakers, enhancing market understanding of the nature of trade finance and contributing to informed policy and regulatory decision-making.
“This agreement with GCD, which is at the forefront of data collection and analysis, will allow us to further develop and evolve the ICC Trade Register as the go-to source for quality and trusted data, which can be used for robust analysis.”
David Bischof, Senior Policy Manager at the ICC Banking Commission, added: “There is a direct and critical link between the availability of timely and affordable trade finance and the conduct of international trade.
“Since its inception, the ICC Trade Register has been instrumental in promoting dialogue and advocacy around trade finance as an asset class in its own right.”
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.
ICC Banking Commission signs partnership with Global Credit Data
The International Chamber of Commerce (ICC) Banking Commission has announced a long-term agreement with Global Credit Data (GCD), boosting the scope of the market-leading ICC Trade Register….
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