Entries by treasuryXL

Cash Pooling – where is the money

| 01-02-2018 | François de Witte | The main objectives of the cash & liquidity management are to: Have the cash funds available to meet all known and unknown commitments In the right currency In the right place At the right time Optimize the return of the cash and/or minimize the cost of the short […]

Liquidity Management – show me the money

| 31-01-2018 | treasuryXL | Treasury is a function which entails many different roles and responsibilities. The main task is to monitor and manage the cash within a company ensuring there is sufficient liquidity. This means monitoring all the cash flows – both inflow and outflow, together with the sources of the flows – current […]

Do treasurers really need instant payments? some implications.

| 30-01-2018 | Patrick Kunz |   Per 13 January 2018 we have a new payments service directive (nr. 2) live in the European union, PSD2 for short. One part of PSD2 is the possibility for banks to offer instant payments between banks in the EU. Within max 10 seconds money flows from one bank […]

Beware of Greeks bearing bonds

| 29-01-2018 | Lionel Pavey | Over the last year there have been impressive price gains in Greek Government bonds leading to equally impressive falls in yields. Greek 2-year bonds are now yielding 1.35% – down from around 7% at the start of 2017. Similarly, 10-year bonds are now yielding 3.66% – a significant fall […]

It’s India, you stupid

| 26-01-2018 | Rob Beemster | In our daily business, we attend to corporations and institutions in their foreign activities.  We notice among our clients more and more attention and interest in India.  Several of our clients have invested in factories, what can be economically seen as Foreign Direct Investment in India. Others are increasing […]

BEPS and its impact on Corporate Treasury

| 25-01-2018 | treasuryXL | The BEPS (base erosion and profit shifting) initiative is an OECD initiative, approved by the G20, to identify over a period to December 2015, ways of providing more standardised tax rules globally. Phases two and three involve implementation and monitoring (together with some remaining standard setting and clarification). BEPS is […]

Blockchain and payments: further on the Gartner Hype cycle?

| 24-01-2018 | Carlo de Meijer | Payments is increasingly seen as an area that is ripe for disruption, having the potential to enhance payment processing. To overcome the current structural weaknesses in the payments area including low speed, high expenses, financial institutions are increasingly adopting the idea of blockchain or distributed ledger technology (DLT). […]

What will be the new “normal” for interest rates?

| 23-01-2018 | Lionel Pavey | Despite interest rate being very low for the last few years, general consensus is that rates will eventually rise – rates will become more normal. Rates are being held down by the actions of central banks with their quantitative easing. As QE is scaled backed and stopped this should […]

How to fix a problem like “IBOR”

| 22-01-2018 | treasuryXL | In the last year both the ECB in regard of EURIBOR and the FCA in London in regard of LIBOR have come to the same conclusion – the fixing of interest rate indices can not carry on in their present form. The current benchmarks are tainted by allegations of fraud […]

PSD2 – has it hit the ground running?

| 18-01-2018 | treasuryXL | On the 13th January 2018, PSD2 came into force. In previous articles we have discussed the meaning of this legislation. To recap – it is a directive to regulate the payment market and payment service providers, whilst also opening the market to non-banks. This should lead to a uniformity in […]