In the case of contingent funding obligations stemming from trade finance instruments, national authorities can apply a relatively low run-off rate (eg 5% or less). Trade finance instruments consist of trade-related obligations directly underpinned by the movement of goods or the provision of services, such as:

• documentary trade letters of credit, documentary and clean collection, import bills, and export bills; and
• guarantees directly related to trade finance obligations, such as shipping guarantees.