International Treasurer – July 2011

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• Trouble in IFRS 9 Attempts to Align Hedge Accounting with Risk Management 

  With all the focus on the impact Dodd-Frank rules will have on their hedging, treasurers should not lose sight of the implications of the IASB’s proposed changes to hedge accounting under IFRS 9.

• Calculating Hurdle Rates in the New (Ab)Normal 

  The financial crisis cast doubt upon many “fundamentals” of financial theory and overturned market behavior expectations, making hurdle rate calculations a more subtle art.

• Peer Insight: ERM Spring 2011 Meeting 

  In spring, the ERM discussed: 1) Creating Value at the Business Units; 2) Board Reporting and Risk Metrics; 3) Aligning ERM with Strategy and Planning; and 4) Effective Trends for ERM Development.

• Best Execution: Going for Algos 

  Corporate FX traders can benefit from “algos” to improve execution performance and reduce transaction costs. International Treasurer sits down for a Q&A with Citi.

• Accounting and Regulation: ISDA to Global Regulators: Coordinate 

  Swaps and derivatives group says a lack of international regs coordination will be harmful to markets.

• Cash Management: Explosive Dim Sum Bond Growth Continues 

  More “dim sum” bonds for McDonald’s and lots of others, too, as attractive features beckon.

• Treasury Management: Moody’s Not Promoting HIA 2.0 

  What a recent research note by the rating agency says about tech firms’ off-shore cash.