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Regional

FXRegional
July 14, 2022

Righting the FX Hedging Ship After a Perfect Storm

Lessons learned and changes made after a plunge in JPY reveals cracks in communication and processes. The plunge of the Japanese yen (JPY) this year to its lowest level against the US dollar in more than two decades (see chart) revealed communication problems at one NeuGroup member company between FX risk managers in treasury and the sales team in Japan—problems that could have resulted in a painful financial outcome. Instead, the company’s treasurer came away with valuable lessons for any…
Justin Jones
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Capital MarketsRegional
June 2, 2022

The Fed Won’t Derail the Economy, UMB Tells Assistant Treasurers

The bank’s positive forecast addresses concerns about rates, inflation, growth and unknowns ahead. UMB, the regional commercial bank, presented a surprisingly upbeat economic forecast for this year to assistant treasurers in a recent meeting, suggesting less likelihood they will face difficult choices to help guide their companies through a recession or skyrocketing inflation.  “On our side,” said an assistant treasurer attending the meeting of NeuGroup for Large-Cap Assistant Treasurers, “it’s fear of the unknown,” given the Fed failed to foresee the…
Justin Jones
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BankingRegional
May 12, 2022

Russia Reality: Paying Taxes to Shield Staff From Criminal Liability

Fear of criminal liability motivates corporates to pay taxes in Russia—but banks are rejecting some tax payments. The threat of criminal prosecution of their employees in Russia is one reason some US-based companies continue to make tax payments in Russia. Meanwhile, several US companies report that Russian tax payments made by entities outside the US have been rejected by a US-based bank. These takeaways emerged at the most recent NeuGroup session where members discuss the challenges facing finance teams at…
Justin Jones
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BankingCash & Working CapitalRegional
April 28, 2022

Slim Down: A Bank Tells Corporates to Cut Account Balances in Russia

Settling intercompany invoices emerges as the best option for some members to quickly reduce deposit balances in Russia. A major US bank used by scores of NeuGroup member corporations in Russia has recently been making strong recommendations to some of them—in conversations, not in writing—that they find alternatives to the bank as the war with Ukraine enters its third month and the bank further reduces its exposure to Russia. This development sparked discussion among members about contingency plans and how…
Justin Jones
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RegionalTalking Shop
April 21, 2022

Talking Shop: Does Anyone Have Credit Insurance in Russia? 

Editor’s note: NeuGroup’s online communities provide members a forum to pose questions and give answers. Talking Shop shares valuable insights from these exchanges, anonymously. Send us your responses: [email protected]. Member question: “We are assessing the risk of losing the insurance that is currently applied to our receivables that were outstanding at the time of the conflict as they are still outstanding. “Our specific interest is in any actions that your team perceives that, if taken, could give the insurance company the…
Justin Jones
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BankingComplianceRegional
April 14, 2022

Adding a Sanctions Checklist to a Crisis Management Playbook

Treasurers navigating the twists and turns of the deepening crisis in Ukraine took time out to hear about some best practices in crisis management.Editor’s Note: NeuGroup is running weekly special sessions on the Russian-Ukrainian crisis. Senior executive advisor Paul Dalle Molle, a former banker with extensive European experience, leads the discussions.By Paul Dalle Molle Financial fallout from Russia’s invasion of Ukraine has put new focus on how multinational corporations plan for and manage geopolitical crises. And while all big companies devote…
Justin Jones
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BankingRegional
April 7, 2022

Ripple Effects: ADP’s Russia Exit Fuels Search for Payroll Options

The payroll processor’s pullout is another snag facing corporates. Others: collecting receivables, payment delays, supply chain woes.Editor’s Note: NeuGroup is running weekly special sessions on the Russian-Ukrainian crisis. Senior executive advisor Paul Dalle Molle, a former banker with extensive European experience, leads the discussions.By Paul Dalle MolleNews that payroll processor ADP had notified one NeuGroup member company that it will cease payroll operations in Russia on June 30 generated plenty of discussion at our most recent weekly Russia crisis session. One treasurer…
Justin Jones
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Cash & Working CapitalRegional
April 7, 2022

High Hopes for a High-Tech Platform to Revolutionize Nordic Payments

Treasury teams frustrated by complexity in cross-border payments see reason for optimism as the ‘P27’ clearinghouse moves ahead.Nordic countries are on the cutting edge of digitizing their economies by embracing new technologies and creating near-cashless societies. But until recently, they had ignored the myriad legacy technologies supporting cross-border payments systems that NeuGroup members say are needlessly complex. Sending money from one nation to another requires jumping through too many hoops, with each country using its own currency and payment infrastructure. Now,…
Justin Jones
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Investment ManagementRegional
March 31, 2022

Amid Turmoil, Keeping Steady With Portfolio Investment Strategies

Few corporate investment managers plan to make meaningful changes to their cash investment strategies, despite an unexpectedly hawkish Fed and continued war in Ukraine. A just-completed NeuGroup survey sponsored by Clearwater Analytics, Going Out the Curve: Benchmarking Investment Strategies, reveals most corporate investment managers have made no significant changes to their portfolios in response to recent market shocks. As the chart below shows, only 7% of respondents say they are making significant changes. Some, though, are going further out on the…
Justin Jones
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BankingRegional
March 31, 2022

New Territory: An Expert’s Take on ‘Unprecedented’ Russia Sanctions

Attorney Adam M. Smith, a former senior advisor to the director of OFAC, shares insights and perspective on sanctions.Editor’s Note: NeuGroup is running weekly special sessions on the Russian-Ukrainian crisis. Senior executive advisor Paul Dalle Molle, a former banker with extensive European experience, leads the discussions.By Paul Dalle MolleAt this week’s NeuGroup Russia session, members heard insights on sanctions and the road ahead from Adam M. Smith, a partner at Gibson, Dunn & Crutcher’s Washington, D.C. office, who is a leading…
Justin Jones
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