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Regional

FXRegionalRisk Management
June 10, 2021

Rescue Mission: Saving Trapped Cash in Depreciating Currency Markets

For projects in volatile economies, creative thinking from treasury could be critical.Profit is not a profit until it’s back in the US. That reality for many multinationals formed the backdrop at a recent NeuGroup meeting for treasurers of large-cap companies where members shared their approaches on how to react when a country’s economic environment takes a problematic turn. Emerging market nations including Argentina, Turkey and Brazil dominated the conversation, as their currencies carry risk of intense devaluation, exacerbating regulatory rules that can trap…
Justin Jones
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RegionalTalking Shop
June 10, 2021

Talking Shop: Reducing Impact of Negative Interest Rates in Europe

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: “What solutions are available to reduce the impact of negative interest rates in the eurozone? “Our bank there charges 1% on euro deposits. We have cash pooling, but converting to USD daily seems like a pain.” Peer answer 1: “Our global bank charges us 0.5% at the moment, but…
Justin Jones
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ESGRegional
June 3, 2021

Oil and Gas Treasurers Weigh Finance Roles in Transition Strategies

How much time do companies have? Takeaways from the first meeting of a NeuGroup focused on oil and gas treasury support of energy transition conducted in partnership with Societe Generale.By Joseph NeuLast week shook the oil and gas sector. Exxon Mobil saw two board seats go to directors backed by the energy transition activist hedge fund Engine No. 1 (yesterday, the company said a third seat will likely go to the fund), which convinced big asset managers to back its…
Justin Jones
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Cash & Working CapitalRegionalTalking Shop
May 6, 2021

Talking Shop: Processing Fees for a Domestic Cash Pool in China

Editor’s note: NeuGroup’s online communities give members another forum to find answers to their questions. Talking Shop shares valuable insights from these exchanges, anonymously. Send us your responses: [email protected]. Member question: “Has anybody set up a China domestic cash pool? I would like to understand market practice on the bank’s processing fee for this. “ is charging us a 0.1% processing fee on the outstanding borrowed balance in the domestic cash pool. Can someone give me a benchmark for this?” Peer answer:…
Justin Jones
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BankingRegionalTalking Shop
April 29, 2021

Talking Shop: Use a Non-Canadian Bank for Cash Management in Canada?

Editor’s note: NeuGroup brings members together to answer questions and help each other in a variety of forums, including online communities—one of many benefits of membership. Talking Shop shares valuable insights from these members-only exchanges, anonymously. Send us your responses: [email protected]. Member question: “Has anyone successfully used a non-Canadian bank for its primary cash management bank in Canada? If so, who? If not, why, and which Canadian bank are you using? “Our understanding is we need to have a Canadian bank,…
Justin Jones
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BankingRegional
April 1, 2021

Fight and Flight: Bank Fee on SEPA Payments From UK Sparks Pushback

Corporates respond by moving accounts to other countries, pushing banks to drop the fee and lobbying regulators.The number of banks charging corporates a fee for payments going from the UK to countries in the single euro payments area (SEPA) is growing, and some NeuGroup members are taking action to minimize the impact. Echoing what treasurers in Europe reported at a recent meeting, the head of cash product at a UK-based bank said that “a lot more banks in Europe are…
Justin Jones
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RegionalTalking Shop
March 4, 2021

Talking Shop: Italy’s New Way to Make Public Administration Payments

Member question: “As of the end of Feb., it is mandatory to pay the public administration in Italy through a payment system called PagoPA. To my knowledge, none of the big banks support this. We currently use a local Italian partner bank for this purpose. “Does anybody know if it is also mandatory to pay the public administration through this PagoPA system when paying from a nonresident legal entity outside Italy?” Peer answer 1: “We are in the process of…
Justin Jones
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BankingFXRegional
February 4, 2021

Cash Pools in Asia for Corporates Trying to Access Funds in China

NeuGroup members describe cash pools designed to overcome obstacles and minimize taxes.Several members of NeuGroup’s Life Sciences Treasury Peer Group have set up cash pools in China relatively recently, a topic they discussed at their fall meeting in 2020 and in follow-up email exchanges with NeuGroup Insights. The pools are generally a means to an end: getting access to the funds in a country where that can be difficult and expensive. Two-way sweep. One member is using what she described…
Justin Jones
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D&IESGRegional
February 2, 2021

Walking the Talk on Diversity and Inclusion: One Company’s Steps

A member of NeuGroup’s European Treasury Peer Group outlines what his company is doing to promote D&I.The push for increased diversity, inclusion and social justice following the murder of George Floyd last year has rippled far beyond US borders. At a meeting of NeuGroup’s European Treasury Peer Group this fall, one member discussed his company’s conviction that now more than ever is the time “to further strengthen commitment to diversity and inclusion everywhere,” as his presentation put it.This company’s efforts,…
Justin Jones
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BankingRegional
January 28, 2021

Unpleasant Surprise Post-Brexit: A New Bank Fee for SEPA Payments

NeuGroup members confront a fee for payments from UK to EU accounts that lands on beneficiaries.Treasurers are still learning the full impact of the UK’s recent Brexit deal, and several who attended a recent NeuGroup European Treasury meeting shared their reaction to a banking fee that took some of them by surprise. Some corporates making SEPA (single euro payments area) payments from accounts in the UK to the EU are now experiencing an additional fee for receipt, as some banks…
Justin Jones
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