Magazine
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 morePublication 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 morePublication 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 morePublication 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 morePublication date: Jan 2010
All change?
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 morePublication 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 morePublication date: Oct 2009
Sober SIBOS
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.
Read morePublication 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.
Read morePublication 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.
Read morePublication 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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