What role can treasury play in Investor Relations (IR), and what value can be added? TMI talks to Dino Nicolaides, Managing Director, Head of Treasury Advisory UK & Ireland, Redbridge Debt & Treasury Advisory, and new President of the Association of Corporate Treasurers, about the demands of fulfilling the IR role. Generally, what is the […]
The rules related to the taxation of securitisation vehicles in the UK are changing. What will be the impact on UK-based corporations and in particular, their access to capital markets and raising debt? Lawyer, Christy Wilson, Associate, Katten UK, explains. The UK Government is in the midst of making changes to the securitisation of the […]
Aaron Lee and Joseph Lee (DBS Bank) join TMI’s Eleanor Hill to discuss how the OECD’s Two-Pillar Solution aims to address the tax challenges arising from the digitalisation of the economy. Ahead of the 2023 implementation date multinational corporates will have much to consider around these reforms. With this tight timeframe in mind, our guests […]
A new Two-Pillar Solution from the OECD aims to address the tax challenges arising from the digitalisation of the economy. Aaron Lee and Joseph Lee from DBS Bank recently joined TMI’s Eleanor Hill in the TreasuryCast virtual studio to discuss these reforms and outline actions treasurers should be taking ahead of the 2023 implementation date. […]
With the recent publication of new guidelines on transfer pricing for financial transactions, two experts examine the impact these will have on multinationals, their treasurers, and tax auditors. For decades the business case for treasury has included the management of cash as a corporate asset. In-house banks are designed to use cash when it becomes […]
With high-profile firms such as MicroStrategy, Tesla and Twitter all announcing major investments in Bitcoin in recent months, it looks like digital assets have come of age. But investing in them as part of a diversified treasury cash strategy has implications for finance and accounting. With all still lacking clear accounting rules, treasurers looking for […]
Treasury teams must keep abreast of regulations to avoid paying high penalties for compliance breaches. Are debt securities’ continuing obligations being fully met? This was the initial question Clifford Chance Applied Solutions asked itself when embarking on the creation of its new digital tool, Continuing Obligations: Debt Securities. Many issuers of debt securities are also […]
The recent default of a sukuk, which is a Sharia-compliant financial certificate similar to a bond, in a Saudi Arabian money market fund (MMF) was a highly unusual event. Nevertheless, it raises important questions for short-term investors in the Gulf Cooperation Council (GCC) region regarding the investment guidelines and risk appetites of the funds in […]
Every treasurer knows the frustration that arises from receiving a payment and not knowing to which customer or supplier it relates. Challenges in reconciliation can cause cash flow and supply chain delays and potentially damage business relationships when settled invoices are chased unnecessarily. As B2B payments are rarely sent by direct bank transfer from one […]
Prime money market mutual funds are once more on the ropes, Fidelity just closed certain of its treasury money funds to new investors, and many government funds are holding repos, which have their own associated risk. While not yet quite a repeat of 2008, where credit events led to the Reserve Primary Fund breaking the […]
I recently took some time to look into the Google Analytics for our blogs and noticed this blog post on Payments-on-behalf-of (POBO) and Collections-on-behalf-of (COBO) is getting a lot of traffic. I think this is because companies are increasingly focusing on harmonising their banking landscape to obtain better visibility of cash balances, to mitigate fraud […]
Across Europe, businesses are facing significant treasury challenges and the need to produce stress test scenarios and short-term plans. CFOs are grappling with macroeconomic volatility, which is inevitably impacting cash flow forecasting and working capital too. A UK report argues 20% of small and medium-sized enterprises (SMEs) in the UK will collapse due to a […]
It seems like a lifetime ago, that I worked on our whitepaper about ‘Modern Cash Forecasting’. Back then I remember we used the subheading ‘Cash Forecasting in Turbulent Times’. Little did I know how turbulent times would become just a few months down the road. Now, it’s June 2020 and the world as we know […]
The only way for banks to recapture value is through leveraging automation technology, says fast-growing fintech Kantox. Multi-dealer platforms (MDPs) such as 360T and FXall have probably been the biggest innovation in the corporate FX space in the past 20 years, enabling corporate treasurers to compare prices from different banking partners in real time and […]
Thanks to advances in technology and Open Banking, optimising international payment flows has never been easier for US multinationals. But there is no one-size-fits-all solution and sometimes local regulations don’t always work in a treasurer’s favour. Helping US-based corporate treasurers manage their core payment flows to support their operations abroad is anything but straightforward these […]
As December creeps ever closer, for many in the workplace this means finalising year-end performance and setting plans, targets and budgets for the next year; ‘top-down’, ‘bottom-up’ and ‘stretch’ become the business buzzwords of choice. However, for many retailers the months of November and December mean an intense pressure and focus on tight revenue and […]
UK businesses have received the strongest indication yet from government ministers that 2020 will mark the end of ‘frictionless’ trading between the UK and EU. This marks a step into the unknown for many businesses accustomed to smooth cross-border flows – not just with the EU but with other trading nations around the world. A […]
In the face of rising costs, increased competition and uncertain economic and political environments, corporates have amassed a record amount of cash. Bobby Jackson, Managing Director and Co-Founder of money broker and deposit specialist FXD Capital, reveals its new partnership with TreasuryXpress, a leading provider of digital and on-demand treasury management solutions, to better identify […]
“A payment, is a payment, is a payment.†This sums up how many have traditionally viewed transaction banking products – largely undifferentiated and commoditised. Today, despite the not-insignificant investment in product development across the industry, a strong sense of commoditisation still remains. In a recent industry study “Striking the right note: building resonant propositions for […]
The advent of ISO 20022 looks set to ready the world’s payments systems for the future. Christian Westerhaus, Head of Cash Products, Cash Management, Corporate Bank, Deutsche Bank, and author of the “Ultimate guide to ISO 20022 migration”, explores the opportunities and challenges ahead. The world’s primary payment market infrastructures (PMIs) are the beating heart […]
Can new payments technology and regulations that streamline data-sharing help financial decision-makers solve their toughest challenges? There’s no shortage of worries. In the 2019 Business Payments Barometer, they expressed concern about fraud and payments, be they real-time, late or international. The good news is that the evolving payments landscape offers innovative technologies that can make […]
The unsecured money market remains one of the least modernised areas of finance. Despite volumes of around €200bn a day in Europe, it continues to be dominated by voice brokerage and bilateral trading, which together comprise roughly 85% of the market. Institutional money markets have remained relatively untouched by new digital models and solutions. As […]
By Thomas Egner, Secretary General of the Euro Banking Association A key responsibility of all corporate treasurers is to ensure their organisations meet any financial obligations as they fall due. To achieve this, treasurers rely on their banks and other payment service providers to process payments – both disbursement and collection – accurately and in […]
FX risk management has been long at the heart of the treasury function’s remit and played a key role in the establishment of treasury activities in response to the relaxation of UK exchange controls in 1976, increased market volatility and the international expansion of UK plcs. Given the potential impact that FX movements can have […]
