ANZ appoints new head of sustainable finance New Zealand; ArcelorMittal Nippon Steel India signs $5.5bn JBIC-backed refi; and new accounting rules pose threat to banks

In today's daily round-up of export, trade and commodity finance news, TXF's Max Thompson covers the latest stories and trends across the market:

• ANZ has appointed Dean Spicer as head of sustainable finance New Zealand

• ArcelorMittal Nippon Steel India – a joint venture between Japanese steelmaker Nippon Steel and ArcelorMittal – signed a 10-year $5.15 billion JBIC-backed loan to refinance its acquisition of Essar Steel India on 17 March.

• As the coronavirus pandemic threatens to plunge the world into recession, new accounting rules pose a significant threat to part of the banking sector by forcing earlier recognition of loan losses.