PolicyPaper - Trade Finance - Financial and Insurance Services - Correspondent Banking - Overcoming Barriers: How the EU Can Improve

Common instruments used in trade finance include Letters Furthermore, environmental, social, and governance risks of Credit, which are commitments by a bank on behalf of requirements , were introduced by the Capital Require- the buyer to pay the seller, provided the terms specified in ments Directive in 2020 (CRD V) and the Capital Require- the Letter of Credit are met. [...] Recital 41 MiFIR ( ), which talks of highly differ- entiated and fragmented regimes, and Commission Staff Working Paper Impact Assessment accompanying the document Proposal for a Directive of the European Parliament and of the Council on Markets in financial instruments (Recast) and the Proposal for a R. [...] The notable gaps in financial services provisions in In 2015, Albania, the Federation of Bosnia and Herzegovi na, the EU’s agreements with its neighbourhood the Republic of Srpska, Montenegro, the Republic of Mace - The EU has concluded Stabilisation and Association Agree- donia, Serbia signed a Memorandum of Cooperation with ments or Association Agreements (AAs) of varying depths the European Ban. [...] Eastern Partnership Regardless of the different stages of the accession process, With the exception of Belarus and Azerbaijan, countries candidates or potential candidates are expected to adhere from the Eastern Partnership have the largest and most to various legal instruments for the progressive adoption robust set of provisions on financial services trade in of the acquis communautaire, which b. [...] eus-new-tightrope-walk-on-the-late-payments-regulation/ 21 Memorandum of Cooperation between the European Banking Authority (the ‘EBA’) and the Banking Agency of the Federation of Bosnia and Herzegovi- na, the Banking Agency of the Republic of Srpska, the National Bank of the Republic of Macedonia, the Central Bank of Montenegro, the National Bank of S.