International Treasurer – November 2010

EuroFinance: In the Shadow of Regulations to Come

At EuroFinance the mood reflected the Geneva weather in early October: OK for now but partly cloudy with a good chance of rain (read: lots of regs and a good chance for a double dip).

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• How “Open Kimono” with Banks Leads to Discussing FTP 

  Post-credit crisis bank-group analysis raises all types of share-of-wallet considerations for both treasurers and their banks.

• IRS Keeps Up Pressure on Transfer Pricing 

  The IRS is taking an aggressive approach in examining transfer pricing policies of companies in their jurisdictions. Here are a few things to do about it.

• Peer Insight: E&C TPG 2010 Summer Meeting 

  The Engineering and Construction Treasurers’ Peer Group met for its second meeting in September and discussed a wide variety of topics, including: 1) Export Credit Agencies and Project/Export Finance Update; 2) Hedging Commodity Risk; 3) Letters of Credit, Bank Guarantees and Surety Bonds; and 4) Staffing, Motivation, Talent and Training.

• Corporate Comment Letters Seek Clarity 

  Corporate comment letters on hedge accounting portions of proposed update to Financial Instruments accounting look for more clarity and the continued ability to voluntarily de-designate hedging relationships.

• Transparency in Swap Markets Will Push Valuation Costs Down 

  With global financial regulation demanding more transparency in OTC derivatives trading, the cost of valuations could fall.

• US Treasury Cracks Open Door on Swap Exemptions 

  US Treasury Cracks Open Door on Swap Exemptions.

• QE2 Boon and Bane for Treasury 

  For corporates, the Federal Reserve’s plan to juice up the recovery by buying billions in US Treasuries is both good and bad.