Trade Finance & Liquidity Management. - 5 May
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1 Trade Finance & Liquidity Management - 5 May
2 Agenda Trade Finance Concepts & Trends SWIFT Trade Finance Offering BIS Solutions in the Trade Space Managing Liquidity BIS Solutions on Liquidity Mgt. 2
3 Trade Finance Market Perspective Growth in international trade 3
4 Trade Finance Risk Cash-in-advance Letters of Credit Documentary Collections Open Account Most Secure Seller Least Secure Buyer Documentary Collections Letters of Credit Open Account Cash-in-advance 4
5 Trade Finance - Trigger Points PROCESSING EFFICIENCY Risk - Compliance - FX hedging - PO authentication Services - Cash forecasting - Discrepancy handling - Dispute management In-Sourcing - Document preparation - Managed a/c payables - A/c Reconciliation Order Make Ship Invoice Receive Pay Sell Collect Inventory finance Pre-shipment finance Post-shipment finance Receivables finance LIQUIDITY MANAGEMENT 5
6 Traditional Documentary Credit Workflow 6. Payment Buyer s bank 4. Settlement Sellers s bank 3. Documents 5. Acceptance of documents by buyer Settlement Risk mitigation Financing Information 4. Payment 3. Documents 2. Shipment of goods Buyer 1. Creation of PO and transmission to vendor Seller Trigger points Logistics 7 High transaction visibility reduces risk and cost of finance APEC E-trade and Trade Supply Finance Chain Management & Liquidity Management Training, Nov 2008
7 Open Account Workflow Buyer s bank Seller s bank Settlement Buyer 1. Purchase Order 2. Shipment of goods 4. Vendor presents documents to be checked by buyer Seller 5. Acceptance of documents by buyer Trigger points 3. Documents Logistics 8Low transaction APEC E-trade visibility and Trade Supply Finance Chain increases Management & Liquidity Management Training, risk Nov 2008 and cost of finance
8 Migration to Open Account SWIFT messaging shows an increase in Cat 1 / 2 payment volumes whilst Cat 4 / 7 trade volumes are stagnating. This is a visible confirmation of the global shift to open account 9
9 Trade Finance Environment Pre- crisis World trade USD billion 20% involves secured documentation 80% open account Trends - importers and exporters are moving to open account Migration to open account limits the bank involvement in trade to settlement Current First time since 1982 we seen a contraction in world trade expected 6% for 2009* Exporters finding pre and post-shipment financing hard to obtain Importers profile as trading partners is riskier Less confidence in importers, importer s country and its import regulations Unstable market are a threat Contraction in trade - risk or liquidity issue 10 * Source: International Chamber of Commerce
10 SWIFT Trade Services Market Offering Guarantees (MT 76x) Collections (MT 4xx) Buyer s bank Documentary Credits (MT 7xx) Seller s bank TSU 12 MT-based MX-based
11 SWIFT Answer to Open Account Buyer Seller SWIFTNet TSU SWIFTNet Trade Services Utility: industry standards shared application community engagement 13
12 C2B Space - Concept Architecture SWIFT qpayintegrator Value-added functionalities electronic services distribution for treasury and trade finance BackOffice Trade documents issuance, amendments, advice, presentation and inquiries qpayintegrator Connector Bank Manage activity dates, payment dates, fees deducted ERP Corporate Automatic payments based on received invoices 20
13 Trade Financing Flow 21
14 Intra-day Liquidity Visibility Better communication flow with external world Build a central intra-day view on liquidity In addition to endof day statement intra-day info must be supplied Provide central view on their liquidity High resilience - connection & reporting facilities 26
15 Liquidity Forecasting Improve communication, connection and collection of transaction data from various systems to build a central transaction repository Central view of transactions Predict short term liquidity requirement Calculate exposure Generate reports 27
16 Treasury Forecast; 3-way Reconciliation Paymentsprocessing Processing Direct Debits Intraday Real-time Reconciliation 1 Cash Reporting Transaction details Processing Cheques Investmentbanking Own forecast DB (Real-time) 3 3-way reconciliation 28 AM / Custody Other Business processing Own ledger (partially batch) End-of-day reconciliation batch 2 FIN-Statements MT 950 / 940 end of day Source: SWIFT Cash Reporting 28
17 BIS Solutions Intraday liquidity & forecasting tool (REGIS, NOSTRO, Target2) Minimizing counterparty risk by filtering suspicious transactions Account Reconciliation 29
18 Interactive slide Let s discuss more Thank you! 30
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