Treasury Today Country Profiles in association with Citi


treasurytoday Magazine November/December 2009 cover

Nov/December 2009

Publication date: Nov 2009

Not a pretty sight

We are reaching the end of the year and the banking system has survived. At the beginning of 2009 it was far from clear what would happen. The fears of a financial Armageddon were fading but it was difficult to tell how, and if, bank balance sheets would be repaired. As this year draws to a close however, the shape and future of the banking industry is becoming clearer.

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treasurytoday Magazine October 2009 cover

October 2009

Publication date: Oct 2009


SIBOS is one of the banking industry’s biggest conferences. Originally an event for back-office staff, it is now attended by the transactional banking sales teams as well. Hong Kong was the venue for this year’s conference and it was good to see the Chinese banks represented in force. However, the mood was sombre with fewer attendees than previous years and those that were there just grateful they still had jobs and their banks still existed.

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treasurytoday Magazine September 2009 cover

September 2009

Publication date: Sep 2009

Interesting times

For the last two years, late summer has been a disruptive time of the year for the financial community. In August 2007, news of the sub-prime crisis began reverberating throughout the world, although few predicted the far reaching consequences at that stage. September of the following year was even more dramatic, seeing the collapse of a number of financial institutions starting with Lehman Brothers.

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treasurytoday Magazine July/August 2009 cover

July/August 2009

Publication date: Jul 2009

Celebrating success

Last month, Award winners and other guests from around the world were invited to the annual Treasury Today Adam Smith Awards lunch in London. Held at the Four Seasons Hotel in Canary Wharf, the lunch was once again an enjoyable and inspiring occasion, and the mood was one of optimism and celebration despite the challenges that continue to shape the market.

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treasurytoday Magazine June 2009 cover

June 2009

Publication date: Jun 2009

Trust, but verify

In a recent survey of 290 corporate treasurers by EuroFinance Conferences, 65% of respondents stated that their trust in bankers had declined since the onset of the financial crisis. At a time when markets remain turbulent, companies are understandably less inclined to place their confidence in another party.

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treasurytoday Magazine May 2009 cover

May 2009

Publication date: May 2009

Green shoots

When Shriti Vadera, economic adviser to UK prime minister Gordon Brown, spoke of seeing “a few green shoots” in January, her comments were widely criticised as premature. However, the sentiment has been echoed by other, more prominent, figures in recent weeks: US president Barack Obama has claimed “we are beginning to see glimmers of hope,” while Ben Bernanke, chairman of the Fed, has spoken of “tentative signs that the sharp decline in economic activity may be slowing”.

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treasurytoday Magazine April 2009 cover

April 2009

Publication date: Apr 2009

Anger management

As the impact of the financial crisis and global economic downturn continues to spread, people are increasingly looking for someone to blame. Riots across Europe have made the news in the last couple of months and governments have fallen in Iceland, Latvia and Hungary as a direct result of the crisis. Elsewhere, corporate bosses are being targeted: in France, there have been several recent cases of disgruntled employees holding their managers hostage while demanding improved redundancy packages.

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treasurytoday Magazine March 2009 cover

March 2009

Publication date: Mar 2009

Too good to be true?

Warren Buffet once famously said, “You only find out who is swimming naked when the tide goes out.” In other words, it is not until favourable conditions become unfavourable that it is clear who has been covering their back and who has gambled that the high tide was here to stay.

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treasurytoday Magazine February 2009 cover

February 2009

Publication date: Feb 2009

What’s in a number?

Even in the world of treasury, where large sums of money are a fundamental aspect of the job, the figures we have been seeing in the news in the past few weeks are staggering. The news continues to be dominated by stories such as the alleged $50 billion fraud run by Bernard Madoff and bank bailout packages with price tags like £200 billion, €500 billion and $800 billion.

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treasurytoday Magazine January 2009 cover

January 2009

Publication date: Jan 2009

Facing the future

In times of crisis it is only natural to focus on the past. How did we get into this situation and why? When was the last time anything like this occurred? What were the consequences and how long did it take for the situation to recover?

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