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Treasury Strategies Launches Regulatory Cost Calculator for Money Fund Users

The SEC is proposing changes that will require many money market funds (MMFs) to change from a constant $1.00 net asset value (CNAV) to a floating variable net asset value (VNAV). Treasury Strategies’ recent study, commissioned by the U.S. Chamber of Commerce, estimates the total cost for investors to move from a stable to a… Read more »

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U.S. Chamber Report Outlines Costs, Operational Challenges of Floating NAV for Money Market Mutual Funds

WASHINGTON, D.C.—A new U.S. Chamber of Commerce Center for Capital Markets Competitiveness (CCMC) report released today finds that the operational complexity, systems alterations, and business process changes needed to support a floating NAV threaten the vitality of money market funds for most investors, including businesses and municipalities. The report titled, “Operational Implications of a Floating… Read more »

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Blackstone Targets Bulging Corporate Coffers

“It could be a highly profitable activity for Blackstone,” said Anthony Carfang, a partner at Treasury Strategies Inc., a Chicago-based treasury consulting firm. “The investment management business is highly scalable.”   U.S. corporate cash increased to $1.79 trillion at the end of last year from $1 trillion in 2000, according to an April 4 report… Read more »

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Treasurers Start Hunting for Higher Yields

“A lot of treasurers are now thinking that at some point we’re going to see an increase in these rates, and that point is getting closer and closer,” said Anthony Carfang, partner at Treasury Strategies Inc., which advises corporate treasurers. For treasurers that hold long-dated assets, “they don’t want to get caught holding a ten-year note with a 2%… Read more »

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SSBs: A Changing Marketplace

Laurie McCulley, a partner at the Treasury Strategies’ consultancy, corporate technology practice unit, believes that the new SIP requirements are a positive but bold step, which will definitely lead to change in the marketplace: “The certification will be good for the SSBs that are able to comply,” she says. “SWIFT is being very aggressive here… Read more »

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Borderless Payments Seen as the Prize at EBAday 2013

A session entitled ‘Treasury payments – the journey towards centralisation’ saw Monie Lindsay, managing director of consultancy group Treasury Strategies Inc (TSI), suggest that from a corporate perspective treasury payments are steadily becoming blended with other payments. “Centralisation has being occurring for a while and both the 2008 financial crisis and SEPA have merely accelerated… Read more »

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Few Large U.S. Firms have Cyprus Units

Nonetheless, corporate cash should be well protected from harm, even for companies that have operations in the country, according to Tony Carfang, a partner with Treasury Strategies. The largest multinationals typically have what’s known as a pan-European pooling structure, by which they move euros on a daily basis into one large European bank, or perhaps… Read more »

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$2.4 Trillion Looks for Exits

A 2012 study for the trade group by consulting firm Treasury Strategies Inc. found that businesses invest an average of 33% of their short-term cash in money-market funds. Among the 136 executives surveyed who invest in money funds, 79% said they would reduce their use of the funds if the SEC mandated a floating share… Read more »

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All Eyes on Cash

The push to improve cash-flow forecasts as companies gain visibility and push out their time frames. Companies that want to fine-tune their forecasts can turn to technology for help, and there are signs that they’re increasingly willing to do so. While businesses have been reluctant to untie the purse strings for such projects in recent… Read more »