(cnbc.com) - In 2016, Standard Chartered said it will stop providing finance to parts of the jewelry industry as part of a broader review on exposure to riskier sectors of the market. Loans on diamonds only accounted for small percentage of the bank's assets, but $400 million was reportedly lost on the sector with consumer demand falling and the price of diamonds dropping. Speaking specifically about safeguards on the commodity markets, Chief Financial Officer Halford said that the bank had "done a lot of work" having learned the lessons of what happened a couple of years ago. "So the visibility across the business now of the level of exposure we are prepared to take to each individual sector is much, much heightened, the standards there are very, very closely scrutinized," Halford said.
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