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SIBOS 09 – Swift TSU in a changing market
10 September 2009
Michele Martensen assesses the development of the TSU and looks at the most recent initiatives from Swift.
Read more:
SWIFT TSU
Swift supply chain
Swift for corporates
David Hennah
BPO
ISO20022
correspondent banking
This article appears in the September 2009 print edition of Trade Finance under the headline Carrying market changes.
When money was cheap and easy to come by, corporates paid little attention to working capital. But in an economic environment presenting “the worst conditions the world has faced since the Great Depression”, it has become a major focus. There is increasing pressure on supply chains, particularly in sectors such as retail, automotive, hi-tech, telecoms and chemicals, where big buyers are generally sourcing from a number of suppliers running on tight margins in low-cost geographies.
For banks, the problems have been at least twofold. “First of all, a lot of lending was taken on without adequate due diligence and subsequently resulted in foreclosure and loss,” says David Hennah, senior product manager at Swift in London. “Second, banks’ capital bases have been severely impaired. The natural instinct has been to reduce exposures. That...
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