Bank of America Merrill Lynch’s strong performance in global trade and supply chain finance has been recognized throughout the industry, highlighted recently by a number of key awards. Reflecting the opinions of prestigious financial trade publications and their readers, these industry awards underscore Bank of America Merrill Lynch’s market-leading offering in supporting its clients around the globe.
- Most recently, Trade Finance honored BofAML with the “Best Trade Bank in the USA” award in the Trade Finance Awards for Excellence 2013, derived from a comprehensive poll surveying the market in recognition of the ongoing evolution of the bank’s offering to its expanding client base in the region.
- Trade Finance along with Global Trade Review also recognized BofAML in their respective “Deals of the Year” programs. When Cummins, a global power leader, issued an RFP for its global supply chain finance (SCF) program to nine major providers, it was a testament of BofAML’s global trade and supply chain capabilities that it was selected as the sole provider.
- Global Finance magazine named the “World’s Best Trade Finance Banks” by region and country in an exclusive survey published in its February issue, which named BofAML as Best Trade Finance Bank in the United States. Criteria for choosing the winners included trade-related transaction volume, scope of global coverage, customer service, competitive pricing, risk management and innovative products, services and technology.
- In January, Global Trade Review published the results of its Leaders in Trade 2012 Readers' poll, proving that for the second year running, BofAML leads the North American trade market. These awards underline the achievements of the bank during the past year, including the introduction of Trade Pro, the latest in trade technology. BofAML was also recognized for undertaking a huge expansion of its longer-term structured trade finance business globally, taking on 18 export credit agencies in Europe, Asia and North America.
Bruce Proctor, head of BofAML’s Global Trade and Supply Chain Finance, commented: “Bank of America Merrill Lynch’s clients comprise thousands of large multinational and middle-market importers and exporters, as well as financial institutions involved in international trade, each with very different needs.
“Increasingly, companies are realizing the importance of expanding internationally as a way to grow their business. Bank of America Merrill Lynch is committed to enhancing the expertise and services we offer to best meet the needs of our clients wherever we serve them around the world. It is critical that they view us as a vital source of knowledge and expertise, as well as providing the services they need to optimize their businesses globally. These awards not only recognize our clients’ confidence in us, but also that of the wider trade finance industry.”
A Partial List of Runaway Inflations
Not Worth A Continental:
The Continental Currency ("Not worth a Continental") that American colonists issued for the Continental Congress to finance the Revolutionary War was replaced by the US Dollar in 1785 when The Continental Congress adopted the dollar as the unit for national currency. At that time, private bank-note companies printed a variety of notes. After adoption of the Constitution in 1789, Congress chartered the First Bank of the United States and authorized it to issue paper bank notes to eliminate confusion and simplify trade. The U.S. Constitution (Secti
China: Obama is destroying America
IT is getting harder for governments to buy United States Treasuries because the US's shrinking current-account gap is reducing supply of dollars overseas, a Chinese central bank official said yesterday.
In a discussion on the global role of the dollar, Zhu told an academic audience that it was inevitable that the dollar would continue to fall in value because Washington continued to issue more Treasuries to finance its deficit spending.
"The United States cannot force foreign governments to increase their holdings of Treasuries," Zhu said, according to an audio recording of his remarks