ITFA paper proposes European receivables register for cross-border business

The International Trade and Forfaiting Association (ITFA) has published a discussion paper proposing a common European receivables register to help simplify cross-border business. Prepared by its Regulatory Advocacy Committee, the paper presents an interoperable register as a potential way to improve transparency and support the use of receivables as assets that can be transferred and financed.

According to ITFA, receivables provide an important source of working capital for businesses and play an essential role in European supply chains. Yet differences in national and operational practices can leave participants in cross-border transactions struggling to establish whether a receivable has previously been assigned, bought or pledged. The proposal addresses that difficulty in identifying existing transactions involving a receivable, rather than announcing the launch of a register.

ITFA says a shared register could reduce administrative friction and give participants greater confidence in receivables as financeable assets. The discussion paper places the idea within a broader Single Market initiative aimed at making cross-border business simpler, safer and more accessible. These are potential benefits of the proposed framework, rather than results from an existing system or completed pilot.

The paper recommends a staged approach, starting with evidence gathering and the development of a minimum model. A controlled cross-border pilot would follow only if the evidence supported taking that step. ITFA is seeking to use the publication to encourage discussion among its members, policymakers and other relevant stakeholders, and has invited contributions to the workstream.

The work is led by Christian Hausherr, whose roles include Product Management Trade Finance at Deutsche Bank and chair of GSCFF, and Silja Calac, whose positions include PDM GTB at Banco Santander and chairing ITFA’s Regulatory Advocacy Committee as a board member. Their workstream provides the route for members and others wishing to contribute to the discussion.