Publication date: Oct 2010
Powers of observation
Archimedes may have been talking about the power of levers, but the idea that you need to be sure of your own position before you can achieve great things is an evocative one.
Publication date: Sep 2010
Onwards and upwards
This month, regular readers will notice a new look to Treasury Today. While keeping the accessible style we pride ourselves on, we hope that you will find our new design cleaner, crisper and easier to read.Read more
Publication date: Jul 2010
How safe are Europe’s banks?
At the start of summer, the spread between what banks lend in euros at three months and overnight rates had risen considerably. Although nowhere near the levels of September 2008 when spreads hit 1.95%, the widening was a warning sign that all was not well in the banking sector. In response, the EU announced it would stress test and publish the results for around 100 European banks.Read more
Publication date: Jun 2010
Time to prepare for possible rate hikes?
How can you sift through the confusion on the global outlook and be prepared for whatever the future may bring? There are always two schools of thought. Currently, pessimists believe the danger is very real, that the Eurozone is falling apart and the China bubble is about to burst.Read more
Publication date: May 2010
A smouldering issue
The recent crisis of volcanic ash might not seem as much of an international financial disaster as the collapse of Lehman Brothers, but it should once again focus treasurers’ attention on potential risks and disruptions in the supply chain.Read more
Publication date: Apr 2010
Beware country risk
Last month’s announcement of an EU support mechanism to bankroll the Greek government out of its mess should it need it, ought not obscure the big issues which face treasurers on what to do with their Greek exposures – whether you produce goods there, source them or sell them.Read more
Publication date: Mar 2010
Something new to bank on?
The British comedy actor, Tony Hancock, observed half a century ago that blood banks were like any other sort of bank. “Bang it in when you’re flush, draw it out when you need it.” It’s as good enough a definition as any other. Banks are there for investing surplus funds and then to provide credit when their customers need it.Read more
Publication date: Feb 2010
Politics and policy
It was certainly a disappointment to see US President Barack Obama recently announcing banking reforms on such an unprecedented scale without reference to the global community, and in particular the G-20. He wants to do two things: the first is to limit the size of banks to get rid of the ‘too big to fail’ dilemma which costs taxpayers money when banks are threatened or go under.Read more
Publication date: Jan 2010
With the start of a new year, a new decade and a tentative world recovery, one would hope for some cautious optimism from the treasury community. But the spectre of recovery is still overshadowed by uncertainty and volatility in commodities, currencies and markets.Read more
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.Read more