Tag: ITFA
May 24, 2019 (London) – International law firm Sullivan has advised ITFA (the International Trade and Forfaiting Association), on its recently published guide to accounting and legal issues under International Financial Reporting Standard (IFRS) 9 for the trade receivables and supply chain finance industry. These are ITFA’s first set of guidelines on the standards aimed […]
(London) – International law firm Sullivan has advised ITFA (the International Trade and Forfaiting Association), on the launch of the new ITFA Unfunded Master Risk Participation Agreement (MRPA) and associated user guidelines, published yesterday, and will be issuing a CRR compliant legal opinion shortly. The master risk participation agreement (MRPA) is for use for unfunded […]
The Alternative Reference Rates Committee (ARRC) is now formally recommending CME Group’s forward-looking Secured Overnight Financing Rate (SOFR) term rates (SOFR Term Rates), following the completion of a key change in interdealer trading conventions on July 26, 2021. This is a significant stepping stone in the transition away from U.S. dollar LIBOR as well as providing market participants with an essential transition tool and marking the completion of the Paced Transition Plan that the ARRC outlined in 2017 and has been working toward since.
Estimated reading time: 1 minute ITFA announced a new template that is being made available to its members in order to facilitate transactional information sharing. The ITFA NDA (Mutual Non-Disclosure Agreement for risk sharing in trade transactions – English law) has been designed as a two-way master document that can be used when parties to […]
The existing regulatory frameworks overseeing sustainability reporting in the Financial Institutions sector are giving rise to numerous unexpected outcomes that will ultimately hinder the global pursuit of long-term sustainability goals. These unforeseen consequences stem from a distortion in the market, which is generating counterproductive incentives for banks and possesses the capacity to: Disincentives lending the […]
The International Trade and Forfaiting Association (ITFA) has announced that it will provide its members with access to an industry framework for open account distribution. HSBC developed the Master Account Receivables Assignment Agreement (MARA) template in collaboration with law firm Dentons in London in 2018. Since then, the framework has been in use with positive […]
