Treasury & FX in Nigeria

The immediate trigger for this call was a recent move by the Nigerian central bank, which devalued the naira and made a move to unify the FX market by eliminating the dual rate system, which provided different official rates according to the use of the funds. The participants in the call welcomed this move, but none was finding it any easier to access foreign currency: the dollar availability is typically a small fraction of the requirement.

This call was chaired by Damian Glendinning whose commentary appears below.

The full report, compiled by Monie Lindsey is available to premium members in our REPORT LIBRARY

If you would like a complimentary copy of this report, PLEASE GET IN TOUCH.

Read More

ESG in Treasury Practice

What can treasury do to support ESG initiatives? This report covers the experiences of eight senior treasurers from Europe and the USA who have started the journey. ESG now seems to be very seriously at the board level, with companies prepared to accept reduced financial returns to meet ESG objectives. Some participants are even reviewing business models and calling into question the traditional focus on growth. Many expressed frustration at the lack of generally accepted standards to set targets and measure progress, though, over time, progress is being made.

This report was based on a Treasury Peer call chaired by Damian Glendinning

This report was compiled by Monie Lindsey.

Download the full report FREE here

Read More

FX & Treasury in Indonesia

Our Treasury Peer Report on Indonesia, explores the experiences of a small group in a detailed exchange on their current treasury activities. Although Indonesia has a strong commitment to liberal economic policies, it has, over the years, introduced measures designed to protect the local currency (the rupiah, IDR), as well as the financial system. It has a notoriously difficult tax system, and, despite repeated attempts at reform, it continues to perform poorly in the annual perception surveys of Transparency International: it comes in 102nd out of the 180 countries surveyed, with a score of 37/100.

This call was chaired by Damian Glendinning, whose commentary appears below.

This report was compiled by Monie Lindsey – the full report is available to subscribers and premium members in our Report Library or if you would like a complimentary copy, please get in touch quoting ‘Indonesia Report’

CHAIR’S COMMENTARY

Read More

Treasury & FX in Turkey

The current situation in Turkey has all the hallmarks of the situations treasurers typically face in complex countries: political uncertainty, fast changing regulations, difficulty repatriating cash, FX volatility, high interest rates, liquidity issues, unexpected tax increases, etc, etc. In addition, the country has borders with one of the world’s most volatile regions, and it relies heavily on tourism, with the associated impact from COVID 19.

The report is based on a Treasury Peer Call which took place on 30th March 2021.

The call was expert chaired by Damian Glendinning, whose commentary appears below.

This report was produced by Monie Lindsey

Click here to get updates & find out more about CompleXCountries

Read More

Treasury & FX in Taiwan

Our Treasury Peer Report on Taiwan covers the approaches of multinationals to issues such as intercompany netting, cross border sweeping and cash transfers and hedging (onshore and offshore) – see moderators comments below.

The report is based on a Treasury Peer Call which took place on in February 2021 .

The call was expert chaired by Damian Glendinning, whose commentary appears below.

This report was produced by Monie Lindsey

Please get in touch of you would like a FREE copy of the full report

Read More

Pricing intercompany loans in China

How do companies price intercompany loans in, and from, China, especially when these are part of a cash pooling arrangement? The main concern here is tax, and participants are finding their tax departments are becoming more involved in this question .

The report is based on a Treasury Peer Call which took place on 13th March 2021.

The call was expert chaired by Damian Glendinning, whose commentary appears below.

This report was produced by Monie Lindsey.

Click here to get updates & find out more about CompleXCountries

CHAIR’S COMMENTARY

China will continue to provide employment to treasurers for a long time to come. As always, cash pooling and cross-border intercompany loans are a good story: it is possible to do most things. But, as usual with China, there are complexities and unresolved issues.

Read More

Approaches to funding subsidiaries

The increase in use of equity funding, the complexity of transfer pricing discussions and using house banks for long term funding are some of the topics covered in this report which explores the different approaches that companies take to funding their subsidiaries and how their processes are evolving.

The report is based on a Treasury Peer Call which took place on 18th March 2021.

The call was expert chaired by Damian Glendinning, whose commentary appears below.

This report was produced by Monie Lindsey.

Click here to get updates & find out more about CompleXCountries

CHAIR’S COMMENTARY

This call came out of a series of discussions with treasurers: we spend a lot of time worrying about intercompany loans, external funding locally, etc. But a lot of these issues arise as a result of a series of key decisions, which are strategic and often historical: how do we structure our subsidiaries?

This is a complex decision. A non-exhaustive list of considerations includes:

Read More

Treasury & FX in Ukraine

This call, attended by six senior treasury peers representing five multinational corporations
across the UK, Europe, and US, was focused on peers’ perspectives of the current situation in
Ukraine, the issues they face and their approach to these issues.

The call was chaired by Arnaud Francq

This report (in full below) was compiled by Monie Lindsey

Summary of peer call findings

Read More

Treasury & FX in Mexico

For the Latin American region, Mexico stands out as being unusually easy to operate in: there are no exchange controls, pooling is allowed, accounts can be operated from offshore, hedging is easy. So it works….however, nothing is perfect. This report explores issues related to banking in light if Citi’s exit, and opening bank accounts, maquiladore structures, tax issues and FX.

The report is based on a call chaired by Damian Glendinning whose summary appears below.

This report was compiled by Monie Lindsey is available in our Report Library.

If you would like a Free copy of the full report, please get in touch

Read More

Treasury & FX in the Caribbean

Senior corporate treasurers from companies based in USA, Europe and Latin America share their experiences of treasury & FX in the Caribbean, including accessing FX, the impact of Covid 19, Regional Banking and dealing with Cuba

Call date: 11th March 2021

The call was expert chaired by Damian Glendinning, whose commentary appears below.

This report was produced by Monie Lindsey.

Would you like a copy of the full report?

Please contact us if you would like a copy of the full report (8 pages) & we’d be happy to share.

Premium members and subscribers can access the full report in our Report Library.

Read More