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Best Trade Finance Bank - North America

18 June 2009

Coast to coast solutions

Winner: Wells Fargo/Wachovia Highly commended: Citi With the United States at the eye of the economic storm that has gripped the world over past year, US banks have had a rough ride. By contrast, across the border in Canada the different regulatory environment and attitude has largely shielded banks from the worst effects of the crisis. In short, banks in North America have suffered a...


Poll

Will Russia’s recent ban on grain exports result in a significant rise in private risk insurance claims from grain traders unable to fulfil their contracts?

Yes – there will be more claims. The government’s actions allow traders, with PRI cover, to make claims through contract frustration.
8%
No - the majority of Russia’s wheat production, some 70%-80%, is used for domestic consumption so the contracts represent only a small portion of the total wheat market, limiting the amount of potential claims.
23%
No - traders had a week’s notice before the ban allowing them to secure alternative supplies to fulfil contracts stated as optional origin.
23%
Maybe - but claims are likely to be limited to traders dealing in soft wheat whose contracts demand they source wheat only from Russia.
46%

Quote

From a Brazilian perspective a lot of work still needs to be done in getting foreign lenders more comfortable to finance the second-tier players again.

Ian Henderson, Texel Capital - Brazil: Agri-sector bounces back - Trade Finance July/August 2010