SWIFT thinking: what the MT760 changes mean for standby letters of credit
Автор: Trade Finance Global
Загружено: 2023-07-13
Просмотров: 2055
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In the geographically dispersed world of international trade finance, efficient communication is crucial.
This is why the Society for Worldwide Interbank Financial Telecommunication - better known as SWIFT - created its messaging types, which have long served as a means for banks around the globe to communicate and facilitate transactions.
Among these messaging types, the MT760 messages - recently updated to enhance efficiency, compliance, and fraud prevention - are significant in issuing standby letters of credit and bank guarantees.
To learn more about this vital message type, explore the implications of these changes, and see how they will impact standby letters of credit, Trade Finance Global (TFG) spoke with Ledia Dervishaj, assistant manager of trade finance operations, standby letters of credits and global wholesale operations at Scotiabank Global Banking and Markets.
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