The Berne Union response to the European Banking Authority (EBA)
The European Banking Authority (EBA) has published a consultation paper with draft guidelines on credit risk mitigation for banks, see https://bit.ly/30ADJxh
The Berne Union has recently provided feedback to the EBA with arguments why credit insurance is a strong risk mitigating tool meriting favourable capital requirements for banks using the product. The Berne Union response can be found here
The Berne Union Legal and Regulatory Task Force was leading the draft of the response. Members of this task force include representatives of private sector insurers, Export Credit Agencies and multilateral insurers. The task force was set up earlier this year to facilitate a coordinated approach in engagement with financial regulators. A favourable treatment of credit insurance as a risk mitigating tool will ensure the availability of bank financing for exporters and investors.