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The following is an op-ed written by Tom Quaadman, vice president of the Center for Capital Markets Competitiveness at the U.S. Chamber of Commerce. This week, five federal regulators met Treasury Secretary Jacob Lew’s directive to finish the Volcker Rule (named after former Federal Reserve Chairman Paul Volcker) by the end of the year. Lew
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Bolstered by one of its largest quarterly increases on record, cash held by corporations in the U.S. rose by over 6% in the third quarter. Corporate cash now stands at $1.925 trillion, up from $1.811 trillion at the end of June. Treasury Strategies’ analysis of data released this week by the Federal Reserve showed that
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Basic aspects of dealing with banks – opening a new account, configuring a lockbox, structuring file delivery, and so on – are too painful, according to a survey of corporate treasurers and banks released on Monday. Corporate clients said they experienced problems like lack of a clear view into the implementation process, poor communication with
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Amid the most challenging environment for corporate treasurers in recent times, Fitch invited Anthony Carfang, founder of Treasury Partners, to discuss best practices for treasurers to better manage cash and access a wider range of securities. Click here to view the video. Fitch Ratings
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LaRock told MMI that it is important for people to use the calculators to arrive at implementation-cost projections for a switch to VNAV MMFs and then communicate with the SEC. “This is not a topic people should be passive about. They should accept the SEC’s invitation to comment on this.” Money Market Insight 13mmi08.pdf
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“It could be a highly profitable activity for Blackstone,” said Anthony Carfang, a partner at Treasury Strategies Inc., a Chicago-based treasury consulting firm. “The investment management business is highly scalable.” U.S. corporate cash increased to $1.79 trillion at the end of last year from $1 trillion in 2000, according to an April 4 report
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“A lot of treasurers are now thinking that at some point we’re going to see an increase in these rates, and that point is getting closer and closer,” said Anthony Carfang, partner at Treasury Strategies Inc., which advises corporate treasurers. For treasurers that hold long-dated assets, “they don’t want to get caught holding a ten-year note with a 2%
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Laurie McCulley, a partner at the Treasury Strategies’ consultancy, corporate technology practice unit, believes that the new SIP requirements are a positive but bold step, which will definitely lead to change in the marketplace: “The certification will be good for the SSBs that are able to comply,” she says. “SWIFT is being very aggressive here
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A session entitled ‘Treasury payments – the journey towards centralisation’ saw Monie Lindsay, managing director of consultancy group Treasury Strategies Inc (TSI), suggest that from a corporate perspective treasury payments are steadily becoming blended with other payments. “Centralisation has being occurring for a while and both the 2008 financial crisis and SEPA have merely accelerated
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Nonetheless, corporate cash should be well protected from harm, even for companies that have operations in the country, according to Tony Carfang, a partner with Treasury Strategies. The largest multinationals typically have what’s known as a pan-European pooling structure, by which they move euros on a daily basis into one large European bank, or perhaps
