Toxic Tonnage: How the Dark Fleet puts the world at environmental & economic risk
The “Dark Fleet” exposes financial institutions to sanctions violations, lawsuits, and losses. Learn how to mitigate these hidden risks.
According to published reports, the EU appears to be on a path for abandoning a planned tenet of Basel reforms which would raise the credit conversion factor (CCF) from 20% to 50% for off-balance sheet products such as performance bonds, guarantees, and standby letters of credit.
In a 24 January 2023 press release, the European Parliament announced its Economic and Monetary Affairs Committee voted to finalize the Capital Requirements Regulation (CRR) and Directive (CRD) for implementation of Basel III reforms in Europe, while avoiding a significant increase in overall capital requirements for the EU banking system by maintaining the CCF at 20% for off-balance sheet trade finance instruments.
Receive updates on the latest DCW releases