DCM SCB CVA (IFC-39507)

Regions
  • World
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jun 29, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
RSF Standard Chartered CVA
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 250.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 250.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Feb 27, 2019

Disclosed by Bank Apr 30, 2018


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Project Description

According to IFC website, the project consists of IFC providing up to US$250 million of unfunded risk protection on a global portfolio of derivatives related EM counterparty exposures held by Standard Chartered Bank. The transaction would support Standard Chartered Bank's management of its derivatives-related Emerging Markets credit exposures. 

Investment Description
  • International Finance Corporation (IFC)
Private Actors

Standard Chartered Bank is among the top 100 largest companies listed on the London Stock Exchange.  It is also listed on the Hong Kong Stock Exchange and the Bombay and National Stock Exchanges in India. Standard Chartered Bank’s credit ratings as at 31 December 2017 were A+ with stable outlook (Fitch), A with stable outlook (S&P) and A1 with stable outlook (Moody’s). Major shareholders of Standard Chartered Bank as at 22 February 2018 include Temasek Holdings (Private) Limited (15.68% stake), BlackRock, Inc (5.11% stake) and Standard Life Aberdeen plc (5.05% stake).  

Contact Information

Borrower: Standard Chartered Bank
Sam Phillips, Managing Director, CVA Trading
Office Address: Standard Chartered Bank, 1 Basinghall Avenue, London, United Kingdom, EC2V 5DD
Website: www.sc.com

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/