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The fate of Libor, the rate that underpins $350 trillion worth of financial contracts, has been hanging in the wind for years. Now its future is clear: The U.K.’s Financial Conduct Authority (FCA) says Libor will cease to exist by the end of 2021. And that means a lot of work for corporate treasurers, who
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Anthony Carfang, Managing Director of Treasury Strategies, a division of Novantas, Inc. testified today at the U.S. House of Representatives on “The Impact of Regulations on Short-Term Financing.” Treasury Strategies supports well-thought-out efforts to improve economic efficiency and to reduce the likelihood of another systemic failure. Citing experiences of Treasury Strategies’ corporate clients, Carfang raised
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The U.S. Treasury Department’s final version of rules aimed at curbing corporate inversions eliminates the threat to cash management tools used by corporate treasuries, such as cash pooling, that was posed by the former version of the rules. “In response to thoughtful feedback, Treasury is providing a broad exemption for cash pools and other loans
