International Treasurer – December 2010

Time Again for HIA 2.0?

As the US economy continues its mostly jobless recovery, people from all sides are continuing to talk about bringing overseas cash home, aka HIA 2.0. But it won’t be easy.

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• Cracks in the Corporate Exemption 

  Poll most corporate treasurers about the impact of Dodd-Frank-initiated derivatives reform and the majority will respond that it will do little to change business as usual.

• World-Class FX Benchmarks Trigger Self-Assessment, Action 

  After the FX Managers’ Peer Groups determined benchmarks for best practices, they looked in the mirror. What did they see and what actions are on the 2011 to-do list?

• Peer Insight: FXMPG Summer 2010 Meeting 

  When the two FXMPGs met in September, they discussed such topics as: 1) Financial Reform and Hedge Accounting Overhaul; 2) Managing China Exposures; 3) Management and External Reporting of FX Results; and 4) Hedge programs.

• A Budding British (Treasury Tech) Invasion 

  British treasury technology companies continue to make inroads into the US; MyTreasury is the latest entrant.

• Fund Managers Continue to Pile into Risk 

  QE2 has further prompted fund managers to embrace risky assets; but do low cash levels point to a correction?

• Caterpillar Orders Up Dim Sum Before Thanksgiving 

  The US heavy equipment manufacturer taps into China’s response to QE2.

• Risk Awareness Continues to Grow for Corporations 

  New survey points to growing acceptance of formal risk management. But there’s still a ways to go.

• Treasurers Should Prepare for Lots of M&A in 2011 

  A Thomson Reuters survey of CFOs reveals global M&A activity will pick up in 2011; what should treasury be doing?