Entries by treasuryXL

Constructing a yield curve for local authority loans

| 22-06-2016 | Lionel Pavey | So far in this series we have constructed yield curves based on Interest Rate Swaps. This route was chosen as Swaps provide the benchmark for pricing many loan products. Let us look at constructing a yield curve for local authority loans. Yet again, the choice has been made for […]

Foreign bank accounts, how to include them in your cash pool

| 21-06-2016 | Jan Meulendijks | Significant balances on your foreign bank accounts which are really of better use in the country where your operation is? Include them in an automated cash pooling scheme so that all your funds are available in The Netherlands and no more unnecessary interest is paid! There are a number of […]

Walk the walk into FX exposure: my first baby steps

| 20-06-2016 | Pieter de Kiewit | Being a treasury recruiter I know how to talk about many aspects in corporate treasury, never having to prove I understand and can execute. Apparently this is not necessary to do a proper recruitment job. As a small business owner I do have my miniature corporate treasury tasks. Below I […]

Lionel Pavey about the German Bund Yield. Is there a solution?

| 17-06-2016 | Lionel Pavey | This week’s headlines were all about the German Bund Yield hitting a historic low. On Wednesday we also published an article about this subject and asked our experts to respond. Expert Lionel Pavey reacts with a full article on the German Bund Yield and asks himself; is there a solution? […]

Talk of the day: German Bund Yield Below 0%

| 15-06-2016 | Udo Rademakers, Rob Söentken, Douwe Dijkstra & Lionel Pavey |   For the first time ever the German bund yield hit negative territory. The ‘Deutsche Welle’ writes: “With the prospect of Britain leaving the European Union looming ever larger ahead of referendum in 9 days, global investors are increasingly fleeing to safe havens […]

Zero Coupon Yields and implied Forward Yields

| 13-06-2016 | Lionel Pavey |   Having constructed our 20 year yield curve with both observable data and discovered data in my previous article,we are now in possession of 3 sets of data: Spot par rates Spot zero coupon rates Discounted Cash Flow factors (DCF) The most important of these, for calculation purposes, is […]

McKinsey beats Warren Buffett

| 10-06-2016 | Victor Macrae | According to investigations made by the Financial Times, McKinsey Investment Office (MIO), a formerly unknown investment daughter of the top tier strategy consulting firm, has shown a stunning performance over a long period of time. MIO holds $9.5 billion in assets from current and former McKinsey partners, half of which […]

FX Global Code of Conduct

| 09-06-2016 | Simon Knappstein |   Last month the BIS published the first phase of the FX Global Code. The final version is planned for completion by May 2017. What is this Global Code and what is the BIS trying to achieve by the establishment of this Code? Recent history In the wake of the […]

How to improve Cash Awareness without targets

| 08-06-2016 | Olivier Werlingshoff | Many CFO’s and Financial Managers would like to improve the cash awareness inside their companies. The most obvious action is to set up financial targets but how could a change of mindset be reached without new targets? One way is to see cash awareness as a product and to try […]