Treasury Today Country Profiles in association with Citi

Magazine

treasurytoday Magazine April 2009 cover

April 2008

Date published: Apr 2008

Only two weeks to submit your nomination...

As the end of April approaches, we wanted to remind all our readers that the deadline for submitting a nomination for the Treasury Today Adam Smith Awards is Wednesday 30th April.

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treasurytoday Magazine March 2008 cover

March 2008

Date published: Mar 2008

Return of the rogue

Thirteen years after Nick Leeson famously brought down Barings, the rogue trader is back. An individual has once again been able to circumvent the safety controls of a respected bank, this time to lose Société Générale a record €4.9 billion – not enough to bring the bank down, but enough to damage its reputation for risk management and leave it vulnerable to takeover.

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treasurytoday Magazine February 2008 cover

February 2008

Date published: Feb 2008

First Annual Adam Smith Awards for Best Practice and Innovation

Last month we announced an exciting new initiative at Treasury Today, the Treasury Today Adam Smith Awards for Best Practice and Innovation in corporate treasury.

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treasurytoday Magazine January 2008 cover

January 2008

Date published: Jan 2008

First Annual Adam Smith Awards for Best Practice and Innovation

We have been writing about corporate treasury for over ten years and during that time we have seen lots of excellent innovative ideas and many examples of best practice.  These are not always recognised for their contribution to the treasury profession.  We would like to change that and Treasury Today is, therefore, delighted to announce the launch of the annual Adam Smith Awards which will recognise best practice and innovation in corporate treasury.

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Treasury Today November/December 2007 magazine cover

November/December 2007

Date published: Nov 2007

Risk in everything

Recent events have led to a better understanding of how the banking system works. The main foundation of the banking industry is that it is built on confidence. This enables banks to borrow short and lend long – something they would not encourage their customers to do. Banks also borrow heavily – with a gearing ratio of eight times their capital – and again this is a lot more than they would ever allow their corporate customers to do.

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Treasury Today October 2007 magazine cover

October 2007

Date published: Oct 2007

Business as usual

One of the more interesting themes coming out of the EuroFinance conference in Vienna last month is that there was no one theme that everyone was talking about. Previous years have seen the banks talking about the same subject. Whether you go back a few years to systems and Y2K or the introduction of the euro, or in more recent times working capital management and managing the supply chain, there have always been dominant themes. This year was different. ABN AMRO as lead sponsor talked about the commercial impact of environmental issues but other banks all followed different themes.

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Treasury Today September 2007 magazine cover

September 2007

Date published: Sep 2007

SEPA – the good news or the bad?

Treasury Today has carried some critical editorial pieces on the SEPA (Single Euro Payments Area) project over the last few months and has highlighted some of the problems. Now is the time to reflect on the longer-term benefits of this important initiative.

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Treasury Today July/August 2007 magazine cover

July/August 2007

Date published: Jul 2007

The SEPA debate continues

Bob Lyddon of IBOS Association writes:

Good exchange of views in the June magazine! IBOS’ working definition is that only 2% of payments (ie credit transfers) in the EU result in movement of money across borders. There is no cross-border Direct Debit scheme at present of course, so cross-border payments represent an even smaller proportion than 2% of EU non-card business.

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Treasury Today June 2007 magazine cover

June 2007

Date published: Jun 2007

SEPA debate continues

Our April editorial provoked an exchange of correspondence with the EACT.

Olivier Brissaud, Board Member, European Associations of Corporate Treasurers Chairman ATEB, Treasury for Financial Professionals in Belgium, wrote:

Reading your last editorial I was very surprised that you would spread this story about pan-European payments being just 3% of the total payment’s volume. As you must know, as you speak for corporates, it is like that precisely because the payment/clearing systems are not interoperable and thus all international corporates have developed workarounds in order to cope with the inefficiencies of the payments industry in the cross border area. Banks used to use this argument against SEPA because they make a huge amount of money from system inefficiencies. SEPA is not perfect – and we know it – but a serious magazine like you should not spread these figures without further explanation.

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Treasury Today May 2007 magazine cover

May 2007

Date published: May 2007

Global Treasury Management – is this our new mantra?

You cannot go to a treasury conference these days without being bombarded by talk of global treasury management. This seems to be becoming the fashionable catch-phrase in treasury circles. Not surprisingly the banks with global capabilities are keen to encourage such talk and the consultants are not far behind as they explain that the benefits of ‘getting to global’ are difficult to attain without the appropriate expertise.

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