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