Category Archives: DCW News

LC Statistics 2019

LC Statistics Spotlight

DCW LC Statistics

Each year DCW releases quarterly LC statistics, showing letter of credit activity for nearly 700 US banks and Non-US Banks with domestic branches. 

Using these statistics, we've put together a series of graphics depicting the Top 10 banks in...

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DCW Trade Finance Year-in-Review

Looking Back: DCW's Trade Finance Headlines from 2018

Since 1996, Documentary Credit World has had it's finger on the pulse of the LC industry, producing monthly issues featuring news, articles, statistics, and more. Each year, DCW Executive Editor Christopher Byrnes pulls together his picks for the...

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Are Free-Trade Zones a Money Laundering Threat?

Do Free Trade Zones encourage Money Laundering?

In its July 2019 report “on the assessment of the risk of money laundering and terrorist financing affecting the internal market and relating to cross-border activities”, the European Commission identified 47 products and services as potentially vulnerable to money laundering or terrorist financing. Of seven products and services added to...

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ICC Approves eUCP 2.0 and eURC

eUCP and eURC go into effect this summer

Voting ICC National Committees Overwhelmingly Approve Revised eUCP, eURC.

During last week’s 2019 ICC Banking Commission Annual Meeting in Beijing, the ICC announced on 11 April that its National Committees have voted to approve final text of an eUCP revision...
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Is “LC lite” the future of Commercial LCs?

commercial LC Lite

The Argument for Stripped Down LCs

Have commercial credits become so burdensome and unwieldy that a trimmed down version of the rules governing their practice could streamline the LC process? Could simplified rules and practices perhaps even spark increased use of this traditional (some...

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ICC Resumes eURC Development and eUCP Update 

IIBLP - ICC resumes digitisationICC Resumes Digitization Process for URC, Update to eUCP

On 3 January 2018, the ICC Banking Commission Executive Committee announced that it would proceed with updating the existing eUCP rules (eUCP Version 1.1, 2007) and drafting new rules addressing electronic...

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eUCP Revision, eURC Process Temporarily Paused

trade finance_LC_Guarantee

November Update on eUCP and eURC

At the ICC Banking Commission meeting in London on 8 November, an update was given on the progress of the ICC Banking Commission’s Digitisation Working Group, including an initiative underway to draft an update of the existing eUCP...

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Back to Back LCs & Money Laundering

trade based money laundering

Back to Back LCs seen as Money Laundering Tool

DCW reports in the current issue that so called "back to back LCs" are increasingly being used in money laundering and terrorist financing schemes. Reporting from a recent AML, Compliance and...
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