THE ICC BANKING COMMISSION MAIN ACTIVITY AREAS OVERVIEW OF DOCUMENTS AND PUBLICATIONS

Transcription

1 THE ICC BANKING COMMISSION MAIN ACTIVITY AREAS OVERVIEW OF DOCUMENTS AND PUBLICATIONS The Russian National Committee of the International Chamber of Commerce the World Business Organisation (ICC Russia) Moscow 2017

2 INTERNATIONAL CHAMBER OF COMMERCE THE WORLD BUSINESS ORGANIZATION (ICC) ICC is an influential international non-profit non-governmental organization established in ICC is the world business organization, whose mission is to promote open trade and investment and help business meet the challenges and opportunities of an increasingly integrated world economy. We work to promote international trade, responsible business conduct and a global approach to regulation through a unique mix of advocacy and standard setting activities together with market-leading dispute resolution services. ICC s global network comprises over 6 million companies, chambers of commerce and business associations in more than130 countries. The ICC organizational structure consists of the headquarters in Paris, 90 national committees, and regional groups in Chinese Taipei, Macao, Hong Kong and Palestine. In addition, ICC has direct members in 35 countries. The ICC activities are organized through 13 specialized policy commissions comprised of leading international experts. Official website:

3 Arbitration and ADR Banking Commercial Law and Practice Competition Social Responsibility and Anti-corruption Customs and Trade Facilitation Digital Economy Environment and Energy Intellectual Property Marketing and Advertising Taxation Trade and Investment Policy Group on Economic Policy POLICY COMMISSIONS

4 ICC BANKING COMMISSION Being an expert body and a professional forum, the Commission produces universally accepted rules and guidelines for international banking practice; as well as market intelligence on the trade finance market. 85+ years of experience 600+ members in 100+ countries 15+ task forces and working groups focusing on various key industry areas 1,500+ participants at our events yearly 30+ institutional partners 5 key sponsors every year (Preferred Partnership agreement) members in our online platforms network 1 Regional Banking Commission in Middle East and North Africa x3 winner of the Trade and Forfaiting Review s (TFR) Excellence Award (2013, 2014, 2015). ICC Banking Commission official web page:

5 THE ICC BANKING COMMISSION ACTIVITIES 1) Unified rules and standards Rules and Guidelines on Documentary Credits (UCP 600). Uniform Rules for Forfaiting (URF). Uniform Demand Guarantees Rules (URDG 758). Uniform Rules for Bank Payment Obligation (URBPO). International Standard Banking Practice (ISBP). Drafting of new rules and updates of existing documents in accordance with current practice. Issue of the ICC Banking commission Official opinions upon request from the ICC members in case of disputes arising from different interpretations of the ICC uniform rules. 2) Policymaking («Global voice of business») The ICC Banking Commission is helping policymakers and standard setters to translate their vision into concrete programmes and regulations to enhance business practices throughout the world.

6 3) Publications and Market Intelligence Official ICC publications for trade finance experts: Unified rules and standards, guidances and handbooks: International ICC bookstore: Selected publications at the ICC Russia bookstore: ICC Banking Commission recommendations and Policy papers: Market Intelligence, analytic reports: ICC reports can be freely accessed on the ICC Banking Commission web page under the Market Intelligence section: Key projects: ICC Trade Register ICC Global Survey

7 4) Dispute Resolution The ICC Banking Commission and International Centre for Expertise administer the ICC Rules for Documentary Instruments Dispute Resolution Expertise (DOCDEX) to facilitate the rapid settlement of disputes concerning trade finance-related instruments. 5) The ICC Academy e-learning and professional certification platform launched in 2015 Distance education. Professional certification in the field of international trade. 6) Specialized Training and Events Bi-annual summits, the spring meetings are open to the public: 3-6 April 2017 Open meeting in Jakarta, Indonesia. 6-9 November 2017 Technical meeting (members only) in London, UK. In addition to its bi-annual summit gathering 300+ international delegates every six months, the ICC Banking Commission organizes regular seminars and conferences around the world in partnership with ICC NCs and other sponsors. Supply Chain Finance Conference: 2-3 March th Annual Conference in Singapore.

8 THE ICC BANKING COMMISSION AREAS OF WORK Area 1) Traditional trade services. This service line includes the traditional rule-making activities of the Banking Commission, in particular UCP, URDG, Collections, ISBP, Standbys, Opinions and DOCDEX. Area 2) Open account and supply chain financing. This service line includes projects related to global supply chain financing, in particular the Bank Payment Obligation (BPO) project, and the drafting of guidelines in the fields of open account, factoring and forfaiting. 3) Global regulation. This area handles the relationship with, or projects linked to, the work of international organizations apt to making overarching recommendations to regional or national organizations. 4) Legal issues and compliance. This service line will act as general forum to member banks' legal and compliance departments. It has been established for the discussion of topics of interest to the membership, who can recommend action at the commission or ICC level where needed. The service line deals with implementation through regional or national laws relating to banking and financial transactions, and acts as legal advisor on any legal and compliance aspect relevant to the work of any of the other four topic areas or any topic selected by the commission. 5) Risk management and asset management. This service line includes credit insurance, assignments and standardization of credit documents, Export Credit Agency (ECAs)/Multilateral Development Banks (MDBs).

9 THE ICC BANKING COMMISSION ANALYTICAL REPORTS OVERVIEW TRADE FINANCE TRANSACTIONS MARKET RESEARCH Project: ICC Trade Register The ICC Trade Register was established by the ICC Banking Commission in 2009 to advance understanding of various products and their risk characteristics in trade and export finance. The project pilot phase was initiated and funded by the Asian Development Bank. The Register can be described as an extensive database containing performance information on numerous trade finance transactions in order to underpin a data-based objective dialog between Trade Finance practitioners and regulatory authorities around the world. The project engages major global banks and consulting companies: Boston Consulting Group (BCG) and Global Credit Data (GCD). The latest report published in December 2016 features data analysis for 25 banks participating in the project. Covering US$9.1 trillion of exposures and 17 million transactions the data continues to verify that trade finance presents banks with little credit risk across major products and regions. Report: 2016 ICC TRADE REGISTER REPORT. GLOBAL RISKS IN TRADE FINANCE. Free online access. ICC website: ICC Russia website: Should your bank be interested in joining this project, contact ICC Russia at sderkach@iccwbo.ru

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11 THE ICC BANKING COMMISSION ANALYTICAL REPORTS OVERVIEW TRADE FINANCE TRANSACTIONS MARKET RESEARCH Project: ICC Global Survey on Trade Finance The project was launched in 2008 when the WTO approached ICC with the request to prepare analytical materials on current trends and state of the trade finance market within the framework of G20 activities. ICC has been carrying out these surveys since 2009 and every year publishes corresponding reports. The latest report published in October 2016 features analysis of data provided by 357 banks from 109 countries. The project is supported by 16 institutional partners. Report: 2016 RETHINKING TRADE & FINANCE Free online access. ICC website: ICC Russia website: Should your bank be interested in joining this project, contact ICC Russia at

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13 ASSOCIATION THE RUSSIAN NATIONAL COMMITTEE OF THE INTERNATIONAL CHAMBER OF COMMERCE THE WORLD BUSINESS ORGANIZATION (ICC RUSSIA) Principle objectives of the ICC Russia Banking Commission (active since 2000) To develop an expert position on international trade finance matters and present this position in the international ICC Banking Commission as well as in Russia upon request from interested parties; To contribute to the enhancement and wider use of modern trade finance instruments in Russia; To inform Russian exporting and importing companies about leading international experience and standard practice with regards to trade finance instruments. Main activity areas Following the principles of the international ICC Banking Commission, the activities of the ICC Russia Banking Commission can be roughly divided into three dimensions: 1) Unified rules and standards 2) Development of a consolidated position and international integration through the mechanisms of representation at the international ICC Banking Commission. 3) Educational mission: Translation and distribution of the ICC official publications. Organization of business events.

14 For more information on membership in the International Chamber of Commerce (ICC) contact the Russian National Committee ICC Russia Moscow 15 build 8 Rochdelskaya str. T.: +7 (495) F: +7 (495) iccoffice@iccwbo.ru THANK YOU FOR YOUR ATTENTION