FILE PHOTO: ABN AMRO logo is seen at the headquarters in Amsterdam, Netherlands May 14, 2019. REUTERS/Piroschka van de Wouw
The $21 billion liquidity hole left by the Dutch bank will be hard to fill, presenting a more uncertain future for smaller commodity traders without a strong presence in a niche market. * Major oil and commodity trading firms make use of another type of loan called a revolving credit facility . Under an RCF, a consortium of banks allow a company to borrow up to an agreed upon maximum threshold. The company can repeatedly borrow and repay this credit, as long as it not exceed the threshold.
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ABN Amro exits trade, commodity finance in corporate bank shake-upABN Amro is to end all trade and commodity financing after a string of losses, in a massive overhaul of its activities that will see the Dutch bank cut 800 jobs.
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