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FINANCE Guide to Treasury & Corporate Banking 2007: volatility will be the name of the game over the coming year
Uncertainty in both the interest rate and foreign exchange environments will mean 2007 is set to be a challenging year for corporate treasurers, according to leading treasury professionals writing in this year's FINANCE Guide to Treasury & Corporate Banking. |
Change is the only constant - a review of the Irish corporate treasury market in 2006
The corporate treasury market in Ireland continues to experience ongoing change and development, with 2006 bringing new challenges and opportunities for the corporate treasurer. Ciaran Kane outlines some of the significant themes in the market in 2006, across a range of perspectives, and looks forward to what 2007 may hold. |
Using FX hedging to add to the bottom line
In the current economic environment, with fundamental uncertainty creating volatile foreign exchange markets, corporates face increasingly uncertain variables that effect bottom line financial performances, writes Bryan Conway. By identifying these pitfalls (in advance, where possible) and being proactive in creating a suitable risk management profile, corporates can not only prevent unpleasant surprises to the bottom line, but they can turn these into opportunities for organisations, he adds. |
Broad range of sophisticated products on offer for treasurers
The days of treasurers using just plain vanilla hedging strategies are long gone. Criona Fitzgerald looks at the increasing range of sophisticated products on offer aimed at reducing corporates’ exposure to interest rate movements, including knock-out swaps and extendible swaps. |
Irish corporates remain attracted to US private placement market
Irish corporates looking to restructure their balance sheet into longer maturities, or who are gearing up for acquisition or major capital investment would be well advised to look at the US private placement market, writes Brendan McGrath, where a slew of corporates including Kerry Group, Kingspan and the Quinn Group have recently raised funds. |
Another strong year in 2007 - but a less favourable external climate is forecast
The year ahead will see the continuation of strong domestically driven economic growth, helped by expansionary fiscal policy, writes John Beggs. However, life will be more difficult in external markets, he adds, as with the risks of higher interest rates, there is a need once again for companies to revisit their hedging strategies and ensure that they have appropriate protection in place, with the same being same true of currency market behaviour. |
The treasurer’s challenge - dealing with uncertainty
Capital markets is an umbrella title for the newly amalgamated Ulster Bank Financial Markets and Specialised Finance units. Declan Fitzgerald writes about how his team are prepared to meet the challenges faced by Ulster Bank’s business customers. |
Treasurers turn to commodities for investment opportunities
David Kiely examines the changing variety of investment products available for treasurers, and notes the increasing use of commodity type products, such as commodity-linked capital protected deposits, and property trusts. |
Impact of IAS 39 on currency hedging
Des Leavy examines the impact IAS 39, the ‘derivatives standard’, has had on financial reporting requirements for corporate treasurers, as well as how it has affected their hedging strategies. |
Emerging hedging options for investing in emerging markets
Irish corporates are increasingly active in emerging markets, as evidenced by Kingspan’s entry into the Turkish market. Sean MacHale examines the challenges and opportunities facing such corporates’ foreign exchange and interest rate risk management strategies when investing in developing economies. |
Building a robust risk management framework
Against a background of increasing volatility, corporates are becoming more sophisticated in the way they structure and manage their businesses, with even smaller corporates raising funds through the capital markets, writes Paul McEnroe, adding that it is therefore essential that corporates adopt a strategic approach to their financial risk management. |
Offering new treasury solutions o ne treasury exposures
With corporate treasurers increasingly demanding more sophisticated risk management vehicles, banks have responded by broadening their product offerings and developing an innovative and bespoke response which mirror the needs of the companies they serve, writes Paul Harris. Some of the new risks banks are offering hedging products for include pensions risk, emissions risk, and inflation risk. |
The changing dynamics of corporate treasury in Ireland
Today’s corporate treasurers not only have to manage interest rate, foreign exchange, inflation, commodity and cash/financing risk, they also face the challenge of dealing with regulatory compliance risk, writes the new president of the Irish Association of Corporate Treasurers, John Gilsenan. |
