TTP Liquidity Brief | Issue 65 - Permission to slow down

Before you head into August, catch up on the week's biggest stories in trade, treasury, and payments.

🌟 A note from the Deputy Editor

Maybe it’s just that time of year, but nearly all of the articles I was reviewing this week had, somewhere in them, a message to slow down. It makes sense. On one side, many of us in the industry are gearing down for some time away in August. On another side, all the tech around us is constantly screaming to go faster and faster and faster and always be doing more. A bit of a double whammy on that intrinsic desire to slow it down a notch or three.

On that note, our slow read for the week explores how the Nordic countries are responding to an increasingly uncertain international landscape. Long reliant on exports and open markets, the region offers an interesting perspective on how governments, exporters, and financial institutions are adapting to a new world order.

Elsewhere, we look at the European Commission's latest plans to strengthen the EU banking sector, the growing cooperation between ASEAN and the UK, and SWIFT's latest currency data. We've also rounded up the latest developments in treasury technology, including Embat's AI-powered banking platform.

From the studio, we explore how digital infrastructure is changing risk management across borders, before turning to a discussion on what it really means to become an AI-first organisation without losing the human element.

As always, there's plenty to read, watch, and learn.

Until next time — slow it down.

The TTP Editorial Team

Country of the Week: Norway

Did you know that Norway is home to the world's largest sovereign wealth fund? Built from the country's oil and gas revenues, the fund owns, on average, around 1.5% of every listed company in the world. Rather than spending its resource wealth today, Norway has invested it to help support future generations.

Norway trade stats (2024):

Total exports: $175B

Total Imports: $100B

Largest export destination: United Kingdom ($30.8B)

Largest import partner: Sweden ($12.4B) 

Largest Export: Petroleum Gas ($55.3B)

Largest Import: Cars ($5.52B)

Source: OEC

Slow Read

A Nordic perspective on a new world order

By: Kenn Torben Jensen

The Nordic countries – Denmark, Sweden, Norway, and Finland – are all deeply dependent on international trade.

Unsurprisingly, given their similar history and geographical traits, they also share a number of other common characteristics. Their economies are all highly export-oriented, perhaps because they all have relatively small domestic markets, which makes internationalisation necessary. They all tend to have a specialisation in technology, energy, maritime solutions, life sciences, and advanced industry. And they all have strong public export credit institutions.

Trade digest

Treasury, payment and global banking digest

Topic of the week: Commodity finance

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Don’t miss your chance to join the Trade Treasury Payments (TTP) x Sullivan & Worcester LLP Commodities Finance Breakfast Club on 15 September.


Structuring commodity trade finance deals in 2026 and beyond!

From 8.30 to 10.00 AM, the breakfast clubs will bring together leaders from across commodities and trade finance, and we would like you to join us at The Lansdowne Club in London!

For the first time, the average commodity finance deal has crossed the $1 billion mark. Much of that volume is concentrated at the top of the market. Larger players negotiate better rates, faster financing, and more favourable terms simply by virtue of size.

As global commodities markets are more fragmented than ever and financial access is concentrated among top players, this is putting pressure on SMEs and startups, constraining capital access and limiting growth in global economies.

TTP and Sullivan are thrilled to invite professionals across industries to join the conversation to unlock these financing gaps and explore how commodity financing can enhance collaboration for global economic growth!

If you have any questions, please don’t hesitate to reach out. We look forward to welcoming you on 15 September!

👇 Register now.
https://tradetreasurypayments.com/events/ttp-x-sullivan-breakfast-club-structuring-commodity-trade-finance-deals-in-2026-and-beyond

🗓️ Upcoming events

The Central Bank Payments Conference (CBPC)

  • Date: 31 August - 2 September 2026

  • Location: Istanbul, Turkey

  • Apply here

Advancing digital trade in Indonesia

  • Date: 20 August 2026

  • Location: TBC, Indonesia

  • Apply here

BAFT 2026 virtual trade finance workshop

  • Date: 22-24 September 2026

  • Location: Online

  • Apply here

TTP x Sullivan Breakfast Club: Structuring commodity trade finance deals in 2026 and beyond

  • Date: 15 September

  • Location: The Lansdowne Club, London

  • Apply here

The ITFA 52nd Annual International Trade and Forfaiting Conference – Split, Croatia 2026

  • Date: 9-11 September 2026

  • Location: Rome, Italy

  • Apply here

Sibos 2026

  • Date: 28 September - 1 October 2026

  • Location: Miami, United States

  • Apply here

What’s coming up over the next few weeks?

From the Studio

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