International Treasurer – October 2011

The RMB’s Long March to International Currency

China has embarked on an ambitious and carefully planned journey to make the renminbi more global—and more widely respected.

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• Settlement Risk to the Fore 

  Following up on September’s notes concerning reassessing bank counterparty risk, we have further corroboration new analysis is being performed by treasuries and the result is increasing the attention.

• SIBOS: Incremental Advances Amidst the Meltdown 

  The conference highlighted some important achievements, but market and regulatory uncertainty kept new blockbusters at bay.

• Peer Insight: EuroTPG Spring 2011 Meeting 

  At its spring meeting, the EuroTPG discussed: 1) Impact of Reform and Regs, SEPA; 2) Counterparty and Settlement Risk; 3) Cash-Flow Forecasting and Systems; and 4) Working Capital Enhancement.

• A Regulation Timeline But Still No Certainty 

  The CFTC offers a first glimpse of compliance deadlines for new derivatives regulations.

• Banking Relations: Banks Already Pricing in Basel III 

  But “cheap” loans may not always be the best value.

• Capital Markets: Company Cash Continues to Grow 

  Tech companies in particular see cash hoards growing; will dividends increase?

• Market Update: BofA Looks to Expand by Leveraging Merrill More 

  Bank of America hopes to leverage its Merrill Lynch acquisition for greater market share.

• Regulatory Watch: The Dodd-Frank Act and the Impact on Corporations 

  The next several months will show more clearly how the Dodd-Frank Act will affect the way companies do business.