By Lionel Laurent
Oct 3 (Reuters) - Tougher Basel III capital adequacy rules for banks may be tweaked to grant an exemption to the "crucial" activity of trade finance, the International Chamber of Commerce (ICC) business lobbying group said on Monday.
The ICC has spent the past year trying to persuade the Basel rule-setting committee that the banks' role in keeping the wheels of global trade turning is too important to be stifled with the same requirements on solvency ratios as other lending activities.
Against the backdrop of a slowing global economy and the unfolding euro debt crisis, the ICC is hopeful there will be an exemption, its secretary-general told reporters at a briefing lunch in Paris.
"We are hoping, and certainly it's our expectation, that there will be (an exemption)," said Jean-Guy Carrier. "I think everyone will be seeing some light there."
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