Business Currency

The UK Financial Conduct Authority (FCA) plans to transition from the London Interbank Offered Rates (LIBOR) to Risk-Free Rates (RFRs) by the end of 2021, to restore trust and integrity in the market. This shift comes after several banks manipulated their interest rates for profit, disturbing trust in the global economy.

The UK’s financial regulator has confirmed that LIBOR will cease on December 31, 2021.

How has SWIFT changed, what challenges have they faced and how will they continue reinventing themselves in the highly competitive global payments market? 

Smart Currency Business has collated predictions from major banks and highlighted key factors which may influence the pound, euro and dollar in their latest Quarterly Forecast.

Everything you need to know about how the transition away from Libor will impact your business

Plain sailing ahead for UK freeports? Probably not. TFG’s McKenzie summarises the key points from the UK budget and what it means for trade.

Philip Bowkley, co-chair of BAFT’s Global Payments Industry Council talks to TFG about the future of global payments, cash and liquidity

Smart Currency Business have collated predictions from major banks and highlighted key factors which may influence the pound, euro and dollar in their latest quarterly forecast.

The Local Currency System – SML – resurfaces as an alternative to recover trade flows not only in the Mercosur but also in other regions of the world which can implement it.

SMEs need to explore innovative financing options like trade credit insurance as they plan and prepare for the “new normal”.

By leveraging technology for insights, a banker can make well-informed decisions, in compliance with audit and ethics, which are in the best interest of the bank.

Here the story has been less dramatic. After the initial collapse in the pound to a 35-year low against the USD and 11-year low against EUR, we’ve seen a recovery to a level slightly above the average since the Brexit vote.

Unexpected and unpredictable, COVID-19 has already made a huge impact on global economies and markets, including the currency market.

TFG explores the current fiscal stimulus as a result of COVID-19 and how it might affect UK SMEs, as well as the overall market reactions from Coronavirus

ISO 20022 is the messaging standard for all types of financial services messaging. Dominic Digby discusses ISO 20022 for trade finance.