Increased transparency requirements introduced by the Financial Accounting Standards Board (FASB) in 2022 have had a mixed reception among professionals working in trade finance.
Demica’s 2023 benchmark report for banks in trade finance shows that 92% of respondents working in payables teams don’t expect the new accounting disclosure rules to change the nature of the payables finance products they offer, with just 5% saying that changes to the requirements were presenting big challenges when setting up payables transactions.
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