As a follow up to FASB’s June initiative to provide accounting relief to organizations that will need to modify their contracts as LIBOR is replaced by SOFR, FASB released a proposed Accounting Standards Update on Thursday.
Technology adoption in treasury is moving at a lightning pace. Treasurers view legacy processes such as printing checks, aggregating prior day cash balances and gathering manual foreign currency exposures as (soon to be) things of the past. Much like technology has become an integral part of our personal lives, the landscape for Treasurers is evolving […]
Reuters – “Canadian, Brazilian oil producers lock in revenues as prices rally: sources”
Bloomberg Tax – “LIBOR’S Looming End Leaves Hedgers, Lenders in a Bind” Nicola M. White, Reporter “This is really so pervasive, it’s going to affect literally every company out there,’ said Ernie de Lachica, senior director at BDO USA LLP. Any business that has a loan likely has an interest rate tied to LIBOR, and banks making […]
Bloomberg Opinion – “How Do You Replace the Most Important Number in the World?” Satyajit Das, writing for Bloomberg “A further issue relates to hedging interest rate risk. The nascent derivative markets in new benchmarks don’t currently approach the quality, depth and liquidity of established Libor-based instruments.
Visual Capitalist “The Top Global Risks in 2019” “91% of respondents to the Global Risks Perception Survey indicated that economic confrontation/frictions between major powers were an expected risk increase in 2019.”