Treasury Management Internation Logo
Published 
Please note: this article is over 10 years old. If you feel this article is inaccurate or contains errors get in touch here . Many thanks, TMI

提供完整方案 滿足客戶現金管理需求 (Executive Interview: Emerging from the Crisis)

专访渣打银行George Nast

2008和2009年间,金融危机对贵行国内/国际客户的业务产生了什么影响?

对我们的客户来说,他们最关心的无疑是流动资金和风险管理。在危机期间,随着资金的枯竭,客户开始着手保存流动资金,并且与渣打银行密切合作,因为渣打银行不但仍然“敞开大门做生意”,还设法进一步改善长期的合作关系。

 说到风险,这场危机使人们认识到交易对手风险管理的重要性,这里的交易对手既包括合作银行也包括商业合作伙伴。在金融危机早期,客户将现金转到他们认为更为稳定的银行,我们是这类避险操作的获益者,此后我们的客户流动资金基础一直都很好。对于交易对手的信用风险,客户也变得更为谨慎,并且更加关注供应链的稳健状况。由于供应商的融资出现问题,因而不能及时提供零部件,进而导致大公司的生产流程出现问题,这样的例子不在少数。就因为这样,我们2009年开出的信用证反而比2008年还多——这是一个有趣的现象,因为同期的全球贸易量是下降的。

金融危机对目前有何影响?

我认为过去两年的教训在客户的意识中仍然非常清晰,但是现在乐观情绪正在抬头,尤其是在亚洲、非洲和中东我们业务所覆盖的地区,这一点则更为明显。尽管受到政府巨额财政刺激计划的影响,流动性约束出现了暂时的缓解,但是我们还有很多事情需要谨慎对待。全球范围内企业现金水平屡创新高正说明了这一点。所以说,而今客户对于动用现金储备一事显得更为谨慎,他们现在更加关注如何进行营运资本管理,他们希望营运资本循环中的每一个环节都具有较高的透明度。我们还看到很多西方跨国公司想要把剩余资金从亚洲主要的增长型市场转移到欧美去偿还债务。

Published 
Please note: this article is over 10 years old. If you feel this article is inaccurate or contains errors get in touch here . Many thanks, TMI

Executive Interview: Emerging from the Crisis

An Interview with George Nast, Standard Chartered Bank

During the course of 2008 and 2009, how did the financial crisis affect your clients’ business (domestic/international)?

For our clients, not surprisingly, the biggest concern was liquidity and risk management. As funding dried up during the crisis, clients focused on conserving liquidity and worked closely with Standard Chartered, which remained ‘open for business’ and helped improve on already long-term relationships.

In terms of risk, the crisis drove home the seriousness of counterparty risk management – both bank counterparty and commercial counterparty risk. In the early days of the crisis, we benefited from a significant flight to quality as clients shifted their cash to banks that were considered more stable, and we continue to enjoy a strong base of client liquidity. Clients also became more cautious about the credit risk of their counterparties and concerned about the viability of their supply chains. There were many examples of large companies running into problems with their manufacturing operations because a supplier could not deliver parts due to a lack of financing. As such, we issued more letters of credit in 2009 than in the previous year - an interesting development given that global trade volumes decreased over the same period.

What is the impact today?

I think the lessons learnt in the last two years are still ripe in client’s minds, but there is also more optimism, particularly within our footprint in Asia, Africa, and the Middle East. Whilst there has been a reprieve in the liquidity constraints given the myriad government fiscal stimuli, there is still much to be cautious about. The record levels of corporate cash globally illustrate that. So clients are being more careful about dipping into cash reserves and are paying more attention as to how they manage their working capital, and they want a high level of transparency on every part of their working capital cycle. We also see many Western multinationals wanting to move surpluses from key growth markets of Asia to fund borrowings in Europe and the US.