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How negative interest rates will affect treasury

A few years ago it was deemed highly unlikely that euro interest rates would move below the perceived floor of zero. Nowadays, we encounter a sub-zero interest-rate environment that raises many challenges for a treasury department. In our opinion, the challenge of negative interest rates for treasurers can be considered as challenges for the treasury operations and challenges from an investment perspective.

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Investment grade corporates, use your refinancing window!

The effects of the credit crisis on corporate funding options have often been discussed. The general message is that it has become much more difficult for companies to attract bank financing since the start of the crisis in 2008. This is mainly due to worldwide deleveraging by banks, fueled by new regulations such as Basel III. However, these developments have also created an interesting opportunity for European investment grade corporates.

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Liquidity risk associated with the AIFM directive

The shutdown of the American government illustrated once again the potentially huge implications of liquidity risk. Recent history is littered with liquidity events, resulting in increasingly strict regulation in this sphere.

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“The twilight zone is much larger than market optimists like to admit”

Professor Antoon Pelsser shares his opinion on Solvency II

In 2009, the European Council and the European Parliament adopted the Second Directive aimed at improving supervision on European insurance companies: Solvency II. The ‘total balance sheet’ approach, at which assets and liabilities are reported at fair market value, should provide supervisory agents a better insight on the financial health of insurers. Professor Antoon Pelsser, of Maastricht University, an expert on risk management, has conducted research on the asset and liability management of insurance companies. He shares his observations on Solvency II.

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New terms for a marriage of convenience

Impact of Basel III on corporate banking relationship

While Basel III may restore the health of the financial markets and the banking industry in the long run, it will also have an impact on the real economy and business in the mean time. The economic impact of Basel III is often mentioned, but seldom analyzed in detail. This article assesses the potential impact of Basel III on companies and outlines some options that corporate treasurers and bankers can explore in order to minimize the effects.

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