Bankers hit out at Basel III trade finance rules
Top bankers have urged regulators to soften the Basel III capital accord's stance on trade financing, at an event on the sidelines of the G20 summit in Seoul.
Bank chief executives including Josef Ackermann of Deutsche Bank, Peter Sands of Standard Chartered and Vikram Pandit of Citigroup, who were part of a working group on financial sector and regulatory policy at the G20 Business Summit, on Thursday called on G20 governments to "give trade finance favourable treatment under the new capital
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