Trésorier/Treasurer magazine - N°93 - Apr/May/Jun 2016 - (Page 27)

FORUM According to Peter Matza, from the Association of Corporate Treasurers', the professional life of the treasurer is one of tradeoffs and compromises. One of the most common questions the treasurer considers is: "What are we funding and, what are the risks to our stakeholders?". Matza, a former treasurer and now engagement director at the ACT, said the essence of the job is the "transfer of risk in support of business strategy". the repo markets is increasingly clear. On the supply side, many corporates have built up substantial cash holdings as they ride out prolonged macro-economic uncertainty for the right opportunity for expansion or acquisition. Counterparty risk concerns and negative interest rates are among the reasons they cannot or will not countenance posting more cash in bank deposits. On the demand side, both banks and asset managers are in When considering greater corporate participation in the repo greater need of collateral, the latter to support initial margin markets, it is therefore no surprise that liquidity and councalls from central counterparts once central clearing of OTC terparty risk are among the top priorities for treasurers. To be derivatives becomes mandatory in Europe, in the second half of blunt, they don't want to get into something they can't get out 2016. Banks are reviewing their collateral needs of. And they do not want to do business with too, largely to comply with Basel III, which someone who might not be able to honour - perhaps ironically, certainly unfortunately - the deal. One of the most common has also had the effect of limiting their appetite questions the treasurer for repo market activity, thereby denting Nevertheless, the case for growing the supconsiders is: "What are we volumes. ply of cash collateral by large corporates to N°93 - LE MAGAZINE DU TRESORIER / TREASURER MAGAZINE Corporate treasurers are cautious folk. They have to be. Their role is to ensure that a complex, multinational company can fund itself, in any circumstances. Regardless of economic slumps, financial market turmoil or strategic mistakes by the c-suite, the treasurer has to make sure the bills get paid, the acquisition is financed and the expansion into new markets is supported. - APR / MAY / JUNE 2016 Treasurers proceed with caution funding and, what are the risks to our stakeholders?" 27

Table of Contents for the Digital Edition of Trésorier/Treasurer magazine - N°93 - Apr/May/Jun 2016

Cover
Table of contents
EDITORIAL
FINANCIAL HIGHLIGHTS Luxembourg Tax News
INTERVIEW David Blair - How should we set up an efficient KYC Process?
FOCUS
IFRS 9: Hedging - Treasurers will love it
From 17 to 16 reLEASE of the new LEASE accounting standard
Block chain - Is this buzz word turning into a reality?
Bank Single Gateway, the Plumbing of Bank Connectivity
FORUM
Geopolitical threats for the year ahead
Treasurers proceed with caution
Des difficultés en série pour les nouveaux entrants
Easing the Burden - Is a global KYC standard needed?
European trade repository of the year
La dette senior Européenne, un regard nouveau sur l'obligataire
CORPORATE FINANCE
Stay connected with cloud treasury technology
From stone age to straight through processing
Differentiators for treasury management systems
Complete securities financing solutions for corporates
A full and balanced "meal" for your retirement?
15 MINUTES WITH FinMetrics
THE FINANCIAL RISK OBSERVATORY
NEWS
LIFE BEYOND NUMBERS

Trésorier/Treasurer magazine - N°93 - Apr/May/Jun 2016