Please participate in a short survey to investigate the Trade Finance Gap.  The survey is anonymous and BNY Mellon will treat the information you provide in this survey as strictly confidential.  No individual respondents will be identified. Please ensure you do not provide information that could either breach client confidentiality/bank secrecy or information that can amount to commercially sensitive data. Your input will be combined and reported along with that provided by other respondents and only shared internally with our product development, technology, and innovation teams.  It will also be used to support the development of a short paper that will examine what is required to overcome the Trade Finance Gap.

Questions are multiple choice and the survey should take about 5 minutes to complete.

Thank you for your participation in our survey.  Your feedback is important.

What type of institution do you work for?

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* 1. What type of institution do you work for?

What is your role?

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* 2. What is your role?

Tick all the regions in which you do business

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* 3. Tick all the regions in which you do business

In the past 24 months, has there been an increase in rejection rates for trade finance transactions from your institution?

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* 4. In the past 24 months, has there been an increase in rejection rates for trade finance transactions from your institution?

If yes, are transactions mainly being rejected due to (please rank in order of importance on a scale of 1 – 6, with 1 being the highest and 6 being the lowest)

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* 5. If yes, are transactions mainly being rejected due to (please rank in order of importance on a scale of 1 – 6, with 1 being the highest and 6 being the lowest)

  1 2 3 4 5 6
An increased demand for trade finance in emerging markets
Poor credit quality of applicant/inability for applicants to provide financial statements
Compliance constraints/inability for applicants to provide quality KYC
Limited institutional capacity to underwrite trade business
A reduction in correspondent banking relationships
Geopolitical risk/economic factors
What could most effectively help to address the issue of the trade finance gap? (please rank in order of importance on a scale of  1 to 4 with 1 being the highest and 4 being the lowest)

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* 6. What could most effectively help to address the issue of the trade finance gap? (please rank in order of importance on a scale of  1 to 4 with 1 being the highest and 4 being the lowest)

  1 2 3 4
Enhanced technology solutions
Provision of additional bank liquidity
Revised regulatory environment
New or alternative funding sources
With respect to addressing compliance related issues, which of the following technological solutions do you think the most effective? (please rank in order of importance from 1-4 with 1 being the highest and 4 being the lowest)

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* 7. With respect to addressing compliance related issues, which of the following technological solutions do you think the most effective? (please rank in order of importance from 1-4 with 1 being the highest and 4 being the lowest)

  1 2 3 4
Centralising KYC databases
Legal Entity Identifiers (LEIs) 
Common credit scoring for SME borrowers
Use of distributed ledgers to enhance transaction management
Would your institution be prepared to provide more trade finance for SMEs, or in geographies where there are high levels of unmet demand for trade finance, if any of the following were addressed? (please rank in order from 1-3 with 1 being the highest and 3 being the lowest)

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* 8. Would your institution be prepared to provide more trade finance for SMEs, or in geographies where there are high levels of unmet demand for trade finance, if any of the following were addressed? (please rank in order from 1-3 with 1 being the highest and 3 being the lowest)

  1 2 3
Creating trade asset marketplaces
Improving visibility/efficiency of transaction processes
Reducing overall transaction costs
How could additional financing capacity best be made available? (please rank in order from 1-4 with 1 being the highest and 4 being the lowest)

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* 9. How could additional financing capacity best be made available? (please rank in order from 1-4 with 1 being the highest and 4 being the lowest)

  1 2 3 4
Risk sharing partnerships with global banks
Risk sharing partnerships with alternative finance providers
Promotion of development bank-sponsored trade facilitation programmes
Use of structured products that mitigate or pool risks
With respect to potential regulatory revision, what would be the most helpful? (please rank in order from 1- 3 with 1 being the highest and 3 being the lowest)

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* 10. With respect to potential regulatory revision, what would be the most helpful? (please rank in order from 1- 3 with 1 being the highest and 3 being the lowest)

  1 2 3
Industry bodies establishing partnerships to collaborate on regulatory advocacy
Corporates and SMEs advocating for regulatory flexibility/convergence
Greater collaboration between banks and regulators on the design of appropriate regulation
How could correspondent banks help to address the issue of the trade finance gap? (please rank in order from 1 – 5 with 1 being the highest and 5 being the lowest

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* 11. How could correspondent banks help to address the issue of the trade finance gap? (please rank in order from 1 – 5 with 1 being the highest and 5 being the lowest

  1 2 3 4 5
Education of local banks on deal structuring taking account of the underlying transaction, rather than simply obligor/  market credit risk
Collective lobbying of government trade bodies, regarding the benefits of trade finance solutions
Mobilising supply-chain technology (including apps) to simplify transaction processes and make trade financing more broadly accessible
Collaborative risk-sharing initiatives that allow local banks to increase the number of exporters/importers they support
Encouraging alternative financiers to provide additional liquidity through bi-lateral arrangements and multi-party risk asset exchanges

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