As the primary risk mitigation payment mechanism between importers and exporters, letters of credit facilitate shipments of goods and payments to enable quick and efficient transactions.
Use in lieu of a Letter of Credit when buyers and sellers want a third party document-handling entity such as Citibank involved in the transaction.
Trade Services Online
Use CitiDirect®, the online access portal for corporate clients around the world, to issue, amend, and advise a Letter of Credit; initiate an Export Documentary Collection; review, track and settle Import Documentary Collections.
Banking (trade finance) careers?
I currently work in a bank as staff accountant for 5 months, but I'm very much interested in getting into trade finance departments of commercial banks. I want to take part in export/import side of the banking indusrty and maybe use my trilingual skills.
Any recommendations? Would a sertification from American Banking Association be helpful?
Gotta Love it... Big Banks getting "Theirs"..
Buybacks Mount for Big Banks as Regional Lenders Offload Nonperformers.
The GSEsâ are forcing lenders who sell them mortgages to buy back billions in soured loans.
.. Freddie Mac required lenders to buy back $2.7 billion of loans in the first nine months of 2009
.. Fannie Mae wouldnât disclose its figure,
(?? A Public, Taxpayer supported agency won't Disclose Public Info ??)
but the Journal cited trade publication Inside Mortgage Finance, who reported Fannie made $4.3 billion in loan-repurchase requests in the first nine months of 2009