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Justin Jones

BankingESG
October 1, 2020

Talking Shop: Exploring Minority Bank Deposits Amid Increased Public Interest

Question: “Minority bank deposits: Is your organization active or exploring given increased public interest?”  “I’m looking to connect with those with experience in this area and discuss best practices. In addition, I’m looking to identify contacts at any recommend .” The member included a link to a Fortune article, which discusses Black-owned financial institutions amplifying the call for racial justice by drawing more private capital into their communities.  Peer Answer: “Hi, we are close to finalizing agreement/structure with a start-up (CNote) which…
Justin Jones
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BankingCapital MarketsTalking Shop
September 29, 2020

Talking Shop: Taking the Temperature of Today’s Credit Facilities Market

Member question: “Is anyone extending their credit facilities in this current market? Specifically, facilities with tenors of 3 or 5 years.”Peer answer 1: “In early Sept., we closed the renewal of a 364-day facility. Given the large size of our overall facility, planning and lender discussion start months ahead of the renewal. At the time we kicked that project off, markets weren’t supportive of longer-dated renewals (none had occurred for jumbo facilities like ours). Good luck with your renewal!”Peer answer…
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BankingCapital Markets
September 29, 2020

The Revolving Credit Dance: Banks Step Out Cautiously

Bank capital challenges and economic recovery are calling the tune on revolver tenors, pricing.The bank loan market is back in action, but even strong, investment-grade (IG) companies may want to step lightly since lenders still face challenges.  Bankers explained in a recent NeuGroup meeting that during the onset of the pandemic, banks’ internal credit ratings for clients often fell further than public rating agencies’, requiring lenders to set aside more capital and potentially shore it up by raising equity or…
Justin Jones
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Accounting & DisclosureESG
September 29, 2020

SOX-Like Framework Needed for ESG/Sustainability Disclosures

Moving ESG/sustainability information from the web to the 10-K warrants attention.By Joseph NeuMembers of our group for treasurers at mega-cap companies recently heard a partner from the law firm White & Case share the findings of the firm’s latest annual survey of ESG disclosures in SEC filings by the top 50 companies by revenue in the Fortune 100. The presentation built on a topic raised by the head of ESG at a member company in a NeuGroup session last month. …
Justin Jones
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Capital MarketsCOVID-19Treasury Management
September 29, 2020

Busting Talent Silos and Reading the Signs on Hong Kong

Highlights from the Assistant Treasurers’ Group of Thirty 2020 H2 meeting sponsored by HSBC.By Joseph NeuTalent development is focused on silo busting. There are two silos in focus for AT members at the moment. The first is the diversity of hires, especially Black and Hispanic professionals along with women, into finance roles.  There is also a mandate to make this a long-term effort to build up the capacities and pool of potential candidates for corporate finance roles. The other silo…
Justin Jones
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FXTechnology
September 24, 2020

Transforming Data Reporting and Analytics With a BI Tool

Qlik Sense has made one treasury risk manager’s team more efficient and nimble.A financial risk manager at a manufacturer with a decentralized global treasury told peers at a recent NeuGroup meeting that the self-service BI analytics platform Qlik Sense has transformed the company’s data reporting and analysis. A comprehensive report that used to take the member’s team several days to prepare can now be done in a matter of hours with Qlik Sense.“ impacts recommendations to leadership for currencies and…
Justin Jones
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Libor SOFRTechnology
September 24, 2020

Looking Beyond Libor: Engage Vendors, Expect Some Frustrations

Corporates preparing for a transition to SOFR may need to push some systems vendors.NeuGroup members appear to be making headway to transition floating-rate exposures to the secured overnight financing rate (SOFR) or an alternative Libor replacement. However, in a meeting in which two members detailed their preparations, a major concern arose about third-party vendors’ progress and the need to push them along.   Responding to polling questions during the meeting session, 70% said they have compared notes with peer companies about their…
Justin Jones
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BankingFXTalking Shop
September 24, 2020

Talking Shop: Methods for Pulling Cross Rates From Central Bank Published Rates

Question: How does your company pull cross rates that are required to be pulled from central banks’ published rates?  “Looking for some teams to benchmark on how you all pull the cross rates that are legally required to be pulled from central bank published rates. Pulling these rates from central banks’ websites is inefficient and we wanted to know how others are doing this.”  Peer Answer 1: “We use Bloomberg’s data license program to get the rates via a file and upload them automatically to our enterprise…
Justin Jones
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BankingCOVID-19
September 22, 2020

Reality Check: Banks Dial Back PPP Loan Forgiveness Expectations

Delays in applications and action by Congress will affect banks’ NIM and NII forecasts.Forget about forgiveness until early 2021. That, in a nutshell, was among the takeaways from a recent conversation between members of NeuGroup’s Bank Treasurers’ Peer Group. The forgiveness at issue is for loans that banks made under the federal government’s $669 billion Paycheck Protection Program (PPP), part of the CARES Act enacted to help small businesses struggling during the pandemic.The loans can be forgiven if companies used…
Justin Jones
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NeuGroup News
September 17, 2020

ICD Guides NeuGroup Members Assessing Risks and Rewards in Money Markets

Cash investment managers compare notes on money funds, deposits, risk and more in a virtual interactive session. Treasury investment managers attending a NeuGroup virtual interactive session (VIS) this week heard timely analysis from sponsor ICD about the ups and downs in money markets over the last six months as the pandemic took hold. They also got the valuable and prized chance to learn what moves other managers are making—or not making—as they weigh the risks and rewards of taking advantage…
Justin Jones
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