打破常规: 构建全球流动性管理的核心

打破常规: 构建全球流动性管理的核心

每天有超过1.5亿美元流入世界各地的英迈国际(Ingram Micro)公司,因此公司必须要拥有对现金的集中与控制以及快速调剂不同主体间的资金。本文中,该公司财资主管Erik Smolders和门德斯甘斯银行(Bank Mendes Gans,简称BMG)美国地区客户与产品部门执行总裁Bertie Sanders解释了英迈国际是如何设立全球虚拟资金池,以便公司能够灵活地调剂不同主体间的资金而无需发生公司间贷款。他们还概括了这一全球架构的益处,包括大幅减少外汇风险与成本、改善流动性,同时不影响公司现有合作银行的利益。 Continue reading 打破常规: 构建全球流动性管理的核心

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2007金融危机后十年,我们能否阻止下一场危机?(第二部分)

2007金融危机后十年,我们能否阻止下一场危机?(第二部分)

几个世纪以来金融危机并不鲜见。过度借贷导致金融系统崩溃,经济再从崩溃中恢复,历史总是相似地重复着。痛苦的记忆可能是最好的“监管者”。当然我们需要依靠规则的实施,但巴塞尔IV的改革真的能阻止新一轮的金融危机吗?结论仍未可知。 Continue reading 2007金融危机后十年,我们能否阻止下一场危机?(第二部分)

2007金融危机后十年,我们能否阻止下一场危机?(第一部分)

2007金融危机后十年,我们能否阻止下一场危机?(第一部分)

几个世纪以来金融危机并不鲜见。过度借贷导致金融系统崩溃,经济再从崩溃中恢复,历史总是相似地重复着。痛苦的记忆可能是最好的“监管者”。当然我们需要依靠规则的实施,但巴塞尔IV的改革真的能阻止新一轮的金融危机吗?结论仍未可知。 Continue reading 2007金融危机后十年,我们能否阻止下一场危机?(第一部分)

Building a Global Multi-Currency Liquidity Management Backbone – Thinking Outside the Box

Building a Global Multi-Currency Liquidity Management Backbone – Thinking Outside the Box

With over $150m flowing into Ingram Micro subsidiaries across the world on a daily basis, having centralised visibility and control over that cash – and being able to move it swiftly between different legal entities is a must. Here, Erik Smolders, the company’s Treasurer, and Bertie Sanders, Managing Director, Clients & Products USA, Bank Mendes Gans, explain how they set up a global notional cash pool that affords Ingram Micro the flexibility to move funds between entities without intercompany loans. They also outline the benefits of this overlay set-up, ranging from significant reduction of FX exposures and costs to working capital improvements – all without ruffling the feathers of existing banking partners. Continue reading Building a Global Multi-Currency Liquidity Management Backbone – Thinking Outside the Box

Basel-4 unfolds, the regulatory challenges continue. Is credit risk escaping supervision? The HOW and WHEN. (5/5)

Basel-4 unfolds, the regulatory challenges continue. Is credit risk escaping supervision? The HOW and WHEN. (5/5)

Is “credit risk” unintentionally squeezed out from the banking industry to somewhere less regulated? Are banks encouraged to load up on riskier assets in order to boost return on equity? A detailed view on the How of Basel-4, as well as the implementation timelines. Continue reading Basel-4 unfolds, the regulatory challenges continue. Is credit risk escaping supervision? The HOW and WHEN. (5/5)

Basel-4 unfolds, the regulatory challenges continue. Will Banks change their Business Model? The WHY and WHAT. (4/5)

Basel-4 unfolds, the regulatory challenges continue. Will Banks change their Business Model? The WHY and WHAT. (4/5)

Basel-3 consists of a complete set of measures to strengthen the financial sector. In part 4, “Will Banks change their Business Model”. WHY did Basel-3 have to reform into Basel-4? WHAT refinements take Basel-3 to Basel-4? Continue reading Basel-4 unfolds, the regulatory challenges continue. Will Banks change their Business Model? The WHY and WHAT. (4/5)

Basel-4 ‘The Standard Which Is Not to be Named’ unfolds, the regulatory challenges continue. (3/5)

Basel-4 ‘The Standard Which Is Not to be Named’ unfolds, the regulatory challenges continue. (3/5)

Basel-4 proposes changes in the calculation of credit, market and operational risks. So-called Standardised Methods are overhauled and the use of internal models is limited. The reform requires a significant increase in capital. Rising capital costs may yet again result in rising interest rates and fees charged by banks to customers and opens the door to players that have less regulatory pressure. Not necessarily a positive development. Continue reading Basel-4 ‘The Standard Which Is Not to be Named’ unfolds, the regulatory challenges continue. (3/5)