New solutions address currency risks | Commentary: Market forces, not regulation, driving real-time payments | Work on global digital tax making progress, official says
September 5, 2019
News and information for treasury professionals
Top Stories
New solutions address currency risks
Currency risk is a major worry for corporate treasurers, requiring specialized tools for hedging and accounting functions. "Achieving more clarity and efficiency in these processes through a solution that aggregates all the distinct steps of the treasury department's workflow has significant impact on a corporation's productivity, considerably reducing the time invested in manual tasks, as well as reducing or even eliminating the possibility of operational risks," according to Bloomberg.
Bloomberg Professional Services (8/28) 
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Commentary: Market forces, not regulation, driving real-time payments
More than 90% of paychecks in the US flow through the ACH network, meaning paper checks have largely gone to the wayside. Meanwhile, the use of same-day ACH is growing. "Direct deposit already provides workers with a choice to get paid without having to wait for a paycheck to clear. Ultimately, it's up to our payment system users -- businesses and consumers -- to make choices that best fit their needs," writes Jane Larimer.
American Banker online (free content) (8/29) 
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Industry News
Work on global digital tax making progress, official says
Efforts by more than 120 countries to impose a fair tax on big internet companies are moving forward, said Jose Angel Gurria, secretary general of the Organization for Economic Cooperation and Development. "What we are seeing is a very strong and a very clear signal of wanting to find a multilateral solution," he said.
The Associated Press (8/25) 
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Banks struggle to tap into possibilities of unified blockchain
Blockchain holds promise for bringing efficiency to trade finance and the technology's potential is being embraced by banks, but execution remains a challenge. Despite numerous groups getting together to advance the technology, no single platform has risen above the rest.
Euromoney online (London) (9/3) 
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Negative-yielding corporate debt raises unprecedented worries
The total of corporate debt with negative yields now exceeds $1 trillion, an unprecedented situation that's raising concerns over interest rate risk. Says Bianco Research founder Jim Bianco, "The financial system doesn't work with negative rates. If the economy recovers, the losses that investors would take are unlike anything they've ever seen."
CNBC (8/21) 
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Survey: Institutional investors feel equity markets have peaked
Nearly three-fourths of institutional investors say equity markets peaked at the end of June, according to a Preqin survey. Around 6% of respondents believed equity markets are still growing.
Pensions & Investments (free access for SmartBrief readers) (8/27) 
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Mnuchin: No need for intervention in dollar market
US Treasury Secretary Steven Mnuchin said his department does not plan to intervene in currency markets "at this time." Any future intervention should be coordinated with the Federal Reserve and US allies, Mnuchin said.
BNN Bloomberg (Canada) (8/28) 
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Accounts payable automation gaining traction
Electronic invoice solutions are gaining traction, with 42.6% of respondents to a recent PYMNTS and Corcentric survey saying they currently use an e-invoice solution. Accounts payable automation has been an area of focus for companies and banks have responded with APIs and faster payment options.
PYMNTS (9/2) 
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Bank of America Merrill Lynch Insights
BofAML takes benchmarking to next level
Benchmarking is a key tool for business success, and technology is delivering new tools and data to help firms know how they stack up. Bank of America Merrill Lynch has created a unique database called PeerProfiler™ that takes benchmarking to the next level.
Bank of America Merrill Lynch (2019) 
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About Bank of America
Bank of America Merrill Lynch's Global Transaction Services (GTS) business provides comprehensive global treasury solutions across the breadth of the working capital cycle, including liquidity management, payments and receipts, commercial card, foreign exchange and trade and supply chain finance. With a history spanning more than 230 years, GTS services thousands of clients - small businesses, mid-size companies, large corporations, financial institutions and public sector entities - in more than 200 countries and 140 currencies.
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