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ICC BANKING COMMISSION
11/04/2019 | Buenos Aires
POLICY AND BUSINESS PRACTICES
The International Chamber of Commerce (ICC) is the
world’s largest business organization promoting
international trade, responsible business conduct and a
global approach to regulation. In 2017, ICC was granted
Observer Status at the United Nations General Assembly
(UNGA), the first time a private sector organization has been
admitted formally into the United Nations system.
The ICC Banking Commission serves as a global forum and rule-
making body for banks worldwide, with particular focus on the
financing of international trade. It further aims to help policy-makers
and standard setters create a regulatory framework that facilitates
trade finance throughout the world.
With 85 years of experience and more than 600 members, the ICC
Banking Commission has rightly gained a reputation as the most
authoritative voice in the field of trade finance.
WHO WE ARE
Global ICC National Committee representation
POLICY AND BUSINESS PRACTICES
ICC BANKING COMMISSION STRATEGY 2020
Rule-making
Be the authoritative rule-making body and produce
accepted standards and guidelines for all forms of trade
finance
1. Update ICC rules according to market needs and extend ICC standards into all trade finance areas
2. Advance digitalisation by identifying and supportinginnvoation in trade finance
Advocacy
Support the development of a sound financial system
and serve as trusted industry leader for regulators
1. Ensure equitable regulatory treatmentof trade finance as low risk asset class
2. Support establishment of effective financial crime risk management standards
Financial Inclusion & Sustainability
Integrate “unbankable” regions and segments into the
global financial system
1. Collaborate with partners around the globe and promote membershipdiversity
2. Encourage and provide guidance on sustainable practices
Our mission: “Safety, Stability, Growth”
POLICY AND BUSINESS PRACTICES
•Advises on development and execution of goals and strategy
•Guides prioritization of the commission’s work programme
•Advises on new partnerships and opportunities for industry engagement
AdvisoryBoard
•Executes work programme and strategy
•Provides subject matter expertise
•Determines goals of regulatory engagements and industry initiatives
ExecutiveCommittee
•Fosters collaboration with other ICC Commissions and drives partnerships with relevant industry bodies and organizations
•Serves as commission’s operational arm, organizes biannual meetings
•Manages and publishes ICC Trade Register and ICC Global Report
ICC Headquarters
in Paris
ICC BANKING COMMISSION GOVERNANCE
POLICY AND BUSINESS PRACTICES
TASK FORCES & WORKING GROUPS
•Digitalisation Michael Vrontamitis (Standard Chartered)
•Forfaiting Sean Edwards (SMBC)
•Guarantees Andrea Hauptmann (Raiffeisen Bank International)
•Supply Chain Finance Forum Christian Hausherr (Deutsche Bank)
Rule-making
•Regulatory Capital Advocacy Henri d’Ambrières (HDA Conseil)
•Global Export Finance Forum Jonathan Joseph-Horne (SMBC)
•Financial Crime Risk and Policy Graham Baldock & Graham Finding (HSBC)
• ICC Trade Register Krishnan Ramadurai (HSBC)
•Legal Committee Georges Affaki (Affaki Société d’Avocats)
•Wolfsberg Principles Guidance Drafting Group Willem Toren (Standard Chartered)
Advocacy
•B20-G20 Policy Consultation Steven Beck (ADB) & Alexander Malaket (Opus Advisory)
•Market Intelligence Alexander Malaket (Opus Advisory)
•Sustainable Trade Finance Ruediger Geis (Commerzbank) & Harriette Resnick
Financial Inclusion & Sustainability
The work of the ICC Banking Commission is executed through dedicated task forces and working groups.
POLICY AND BUSINESS PRACTICES
ICC BANKING COMMISSION RULES AND GUIDELINES
Forfaiting Supply Chain Finance Guarantees Digitalisation
Serve as representative body
for banking experts in export
financing and facilitate
standardization and harmonization
of processes and regulations
Develop Standard Definitions for
Techniques of Supply Chain
Finance and provide additional
guidance to address the global need
for a common understanding of
terminology, nomenclature and
techniques related to SCF
http://supplychainfinanceforum.org/
Promote the wider use of the
Uniform Rules for Demand
Guarantees (URDG) in all
business sectors and
geographical regions
Evaluate and ensure “e-
compatibility” of ICC rules, i.e.
enable banks to accept data vs.
documents
Develop a set of minimum
standards for digital connectivity of
service providers
Conduct a legal survey to
understand the rights of third parties
under paper vs. electronic bills of
lading and provide rules regarding
the acceptance of data vs.
documents
Used by letter of credit practitioners worldwide, the Uniform
Customs and Practice for Documentary Credits (UCP) are
the most successful private rules for trade ever
developed. Bankers, traders, lawyers, transporters and
academics refer to UCP 600 on a daily basis.
Task Force and Working Groups
POLICY AND BUSINESS PRACTICES
Global Export Finance Forum Financial Crime Risk and Policy Sustainable Trade Finance
Serve as representative body for
banking experts in export financing
and facilitate standardization and
harmonization of processes and
regulations
Monitor regulatory developments
in relations to financial crime
aspects and evaluate possible
consequences for the trade finance
industry
Identify certification schemes and standards that
effectively mitigate risks associated with clients’
business and transactions to be financed
Develop training modules that promote
sustainability policies and practices by banks and
their customers.
Legal Committee Regulatory Capital Advocacy
Discuss, analyse and provide
guidance on recent legal
developments in relation to trade
finance and bank regulation
Monitor regulatory developments
and their consequences and draft
industry comment letters
ICC BANKING COMMISSION POLICY ADVOCACY
Regulatory and Policy Advocacy GroupsFinancial Inclusion & Sustainability
POLICY AND BUSINESS PRACTICES
ICC National Committee based in the location of the initiator forwards
request to Secretariat
Secretariat relaysrequest to Technical
Advisors
Technical Advisorsissue Draft Opinion –
sent to initiator via National Committee
Consolidated DraftOpinions are circulated
for comment to all National Committees
Draft Opinions are discussed and approved at the
Banking Commission bi-annual meetings
Final Opinions are circulated to all
National Committeesand commission
members
SERVICES: BANKING COMMISSION OFFICIAL OPINIONS
• Opinions provide expert interpretation and analysis of the ICC rules in given situations. Official Opinions are given in respect of transactions
subject to ICC Rules such as the UCP, URC, URDG, URBPO etc. They are often cited by courts to assist in dispute resolution and are
considered a major resource for lawyers, bankers, judges, and scholars and other professionals in the industry.
• Opinions are issued with the support of the Technical Advisory Team.
POLICY AND BUSINESS PRACTICES
ICC TRADE REGISTER
The ICC Trade Register – an unparalleled way to measure global risk in trade and export finance
facilitated by ICC and the world’s leading banks
22
banks22
banks
20 million
transactions
Exposure
> USD 10
trillion
40% of
global
traditional
trade
finance
Provides objective and transparent view of the credit risk profile and
characteristics of trade, supply chain and export finance whereby
contributing to informed policy and regulatory decisions.
Members have access to high-quality up-to-date data on trade, supply
chain and export finance, which can be incorporated as an integral
component of annual credit risk factor reviews and model calibration for
trade finance.
Aims to deliver a common understanding of the international
regulations affecting bank capital requirements for trade and export
finance as part of the ICC’s commitment to effective and collaborative
advocacy.
POLICY AND BUSINESS PRACTICES
ICC GLOBAL SURVEY ON TRADE FINANCE
Conducted annually since 2008, the ICC Global Survey report is the world’s most authoritative review of the trade finance industry,
based on exclusive information from over 250 banks in more than 90 countries.
The survey results are bolstered by contributions
from an international array of leading voices on
trade and finance, including experts from the
World Bank, the Boston Consulting Group (BCG)
and the World Trade Organization.
To access the full reports, click on the respective covers
POLICY AND BUSINESS PRACTICES
BANKING COMMISSION MEETINGS
Twice a year, the ICC Banking Commission brings together bankers,
business leaders, finance experts, lawyers and representatives from
international organizations to promote dialogue, make policy
recommendations, and develop rules to enhance trade finance
practices throughout the world.
+250 participants TechnicalMeeting
everyspring and
autumn+500
participants AnnualMeeting
+65 countries
represented
POLICY AND BUSINESS PRACTICES
ICC BANKING COMMISSION
https://iccwbo.org/global-issues-trends/banking-finance/
https://fr.linkedin.com/company/icc-banking-commission
#ICCBanking