Listing of AFP News Articleshttp://www.afponline.org/ArticleRss.ashxSat, 18 May 2013 08:42:42 -0400Sat, 18 May 2013 08:42:42 -0400Following the $1.1 billion acquisition of Norit N.V., Cabot's debt balance grew from $600 million to $1.4 billion. Cabot’s treasury team was mandated with reviewing the capital structure and establishing ways to optimize interest expense by rebalancing the company’s fixed versus variable debt.http://www.afponline.org/mbr/reg/res/reg_news/Case_Study__Implementing_an_A2/P2_CP_Program.htmlTue, 14 May 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Case_Study__Implementing_an_A2/P2_CP_Program.htmlMany aspects of FP&A are fundamental across industries and markets. To the extent that the business models of industries differ, however, so too does the analysis. In traditional banking, two unique aspects of the business require significant analytical attention: the interest margin and asset quality.http://www.afponline.org/mbr/reg/res/reg_news/Up_Close__FP_A_in_Banking.htmlTue, 30 Apr 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Up_Close__FP_A_in_Banking.htmlUntil recently, Canada levied a withholding tax on commercial paper issues in the United States, making it attractive for Canadian subsidiaries of U.S. parents to issue CP in Canada. But since the tax was lifted 18 months ago, CP issuance by foreign entities has dropped significantly in Canada—a trend that will likely continue.http://www.afponline.org/mbr/reg/res/reg_news/Corporate_Issuance_of_CP_Continues_to_Drop_in_Canada.htmlTue, 16 Apr 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Corporate_Issuance_of_CP_Continues_to_Drop_in_Canada.htmlIn June 2012, the Financial Services Authority (FSA) revealed that banks may have been mis-selling interest-rate hedging products (IRHPs) to businesses. Almost a year later, after assessing eight large UK banks, the FSA has released a pilot report announcing that an estimated 90 percent, or about 40,000 IRHPs, were mis-sold to unsophisticated users from 2001 to present.http://www.afponline.org/mbr/reg/res/reg_news/Five_Ways_to_Protect_Your_Company_from_Mis-Sold_Swaps.htmlFri, 12 Apr 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Five_Ways_to_Protect_Your_Company_from_Mis-Sold_Swaps.htmlCorporates should think twice before refusing their banks' security recommendations. Otherwise they could be held liable when a fraud loss occurs, if a March 18 court decision is any indicator.http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__A_Cautionary_Tale_for_Corporates.htmlTue, 09 Apr 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__A_Cautionary_Tale_for_Corporates.htmlIn 2010, Bombardier’s treasury group was presented with an all-too-common challenge: migrate a global banking infrastructure for a legal entity holding restructuration. And, they wanted results in one calendar year.http://www.afponline.org/mbr/reg/res/reg_news/Case_Study__Streamlining_Bank_Relationships_in_Record_Time.htmlWed, 03 Apr 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Case_Study__Streamlining_Bank_Relationships_in_Record_Time.htmlThe UK Government has proposed a regulatory overhaul of the nation’s payments systems. A new regulator would be put in place, supplanting the Payments Council and ending the industry’s current practice of self-regulation.http://www.afponline.org/mbr/reg/res/reg_news/Regulatory_Overhaul_of_UK_Payments_Systems_Coming_.htmlFri, 29 Mar 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Regulatory_Overhaul_of_UK_Payments_Systems_Coming_.htmlAgathe Côté, Deputy Governor of the Bank of Canada, spoke at Association for Financial Professionals of Canada-Montreal on Tuesday. She discussed the critical role of the Canadian financial market infrastructure, and the steps that the central bank, regulators and the industry are taking to strengthen that system.http://www.afponline.org/pub/res/news/Cote_Discusses_Financial_Market_Infrastructure_at_AFPC_Montreal.htmlTue, 26 Mar 2013 00:00:00 -0400http://www.afponline.org/pub/res/news/Cote_Discusses_Financial_Market_Infrastructure_at_AFPC_Montreal.htmlGoing first on the Basel III capital requirements might not have been enough for Canadian banks. According to Canada’s federal budget, introduced last week, some banks may have to hold even higher capital buffers.http://www.afponline.org/mbr/reg/res/reg_news/Even_Higher_Capital_Requirements_for_Canadian_Banks_.htmlTue, 26 Mar 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Even_Higher_Capital_Requirements_for_Canadian_Banks_.htmlWe spent most of the week going back-and-forth as to whether Cyprus could be another Greece. The debt and equity markets rallied and fell depending on the latest news out of Nicosia. The general feeling at week’s end was that while this was probably not going to be a major disruption to the world financial markets.http://www.afponline.org/mbr/reg/res/reg_news/This_Week_in_Corporate_Finance__Cyprus_Shake-Up.htmlMon, 25 Mar 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/This_Week_in_Corporate_Finance__Cyprus_Shake-Up.htmlThis week, a look at the Genesco/Visa Lawsuit, which marks the first time that a retailer has sued a credit card company for losses related to fraud. Also, President Obama meets with top CEOs to discuss cybersecurity, a new plan is unveiled that could allow the CIA and NSA to access the FinCEN database, and six major banks get hit with DDoS attacks.http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__Are_PCI_Compliance_Fines_Fair_.htmlSun, 17 Mar 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__Are_PCI_Compliance_Fines_Fair_.htmlGlobal regulators are considering making amendments to Basel III, due to complaints that they are too complicated to be effective. Stefan Ingves, chairman of the Basel Committee on Banking Supervision said that a debate has arisen over whether the Basel regulatory framework is simple enough to implement, yet ambitious enough to make banks more secure.http://www.afponline.org/mbr/reg/res/reg_news/Basel_Committee_Could_Simplify_Regulations.htmlThu, 14 Mar 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Basel_Committee_Could_Simplify_Regulations.htmlCindy Fryer, CTP, Senior Director-Treasury, Endo Health Solutions, provided 10 recommendations to maintain debt compliance.http://www.afponline.org/mbr/reg/res/reg_news/10_Practitioner-Tested_Debt_Compliance_Tips.htmlThu, 14 Mar 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/10_Practitioner-Tested_Debt_Compliance_Tips.htmlThis week, AFP Fraudwatch speaks with Michael Leiter, former director of the National Counterterrorism Center (NCTC) and a speaker at the upcoming CTC Corporate Treasurers Forum. Leiter shares his views on cyber risk, one of the most critical threats to companies expanding globally.http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__Treasury_Weighs_Global_Expansion,_Cyber_Risk.htmlTue, 12 Mar 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__Treasury_Weighs_Global_Expansion,_Cyber_Risk.htmlRecently on AFP’s discussion list corporate treasury and finance professionals discussed fraud prevention.http://www.afponline.org/mbr/reg/res/reg_news/Best_Practices__Fraud_Prevention.htmlMon, 11 Mar 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Best_Practices__Fraud_Prevention.htmlFor those looking for signs that the U.S. economy is finally pulling out of its morass, this was probably the best week in at least four or five years. The payrolls number came in at an above-consensus +236k and the unemployment rate fell lower than expected to 7.7 percent.http://www.afponline.org/mbr/reg/res/reg_news/This_Week_in_Corporate_Finance__Stocks_Soar_on_U_S__Jobs_Data.htmlMon, 11 Mar 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/This_Week_in_Corporate_Finance__Stocks_Soar_on_U_S__Jobs_Data.htmlThree years ago, Cardinal Health spun off its $4 billion medical device subsidiary. As a newly independent conglomerate of semi‐integrated businesses with a global manufacturing and sales footprint, CareFusion had all the complexities of a major multinational corporation. The challenge and opportunity was setting up an effective but lean treasury function within uncompromising deadlines.http://www.afponline.org/mbr/reg/res/reg_news/Case_Study__Building_a_Treasury_Team_from_Scratch.htmlWed, 06 Mar 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Case_Study__Building_a_Treasury_Team_from_Scratch.htmlIt was a big week for Basel III news. The European Union agreed to cap bank bonuses, the Banco Central do Brasil announced its new capital rules, and the U.S. Federal Reserve made clear its intent to finalize rules.http://www.afponline.org/mbr/reg/res/reg_news/Basel_III_Update__EU_Agrees_to_Bank_Bonus_Cap.htmlFri, 01 Mar 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Basel_III_Update__EU_Agrees_to_Bank_Bonus_Cap.htmlA persistent theme that emerged during a series of recent SCT roundtables was how the challenges of the banking sector are affecting bank relationships, counterparty credit and investment policies. The implementation of Basel III has caused banks to be much more concerned about the credit risk of their customers.http://www.afponline.org/mbr/reg/res/reg_news/Credit_Risk_is_Changing_Canadian_Corporate-Bank_Relationships.htmlMon, 18 Feb 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Credit_Risk_is_Changing_Canadian_Corporate-Bank_Relationships.htmlRashid Maqsood of Rexel Canada Electrical Inc. joined AFP of Canada in 2001 and is currently a member of The Society of Canadian Treasurers. He serves as Vice Chairman and Secretary of the AFP of Canada Board of Directors, which he has been a member of since 2008.http://www.afponline.org/mbr/reg/res/reg_news/AFP_of_Canada_Member_Profile__Rashid_Maqsood.htmlFri, 15 Feb 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/AFP_of_Canada_Member_Profile__Rashid_Maqsood.htmlSeveral banks and financial services providers recently revealed to AFP what they are hearing from their corporate clients—what they are concerned about, and what they want.http://www.afponline.org/mbr/reg/res/reg_news/What_do_Corporates_Want__Plenty,_say_Banks.htmlWed, 13 Feb 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/What_do_Corporates_Want__Plenty,_say_Banks.htmlOne of the guard rails of short-term investing disappeared on New Year’s Day when the FDIC’s coverage of deposits shrunk to $250,000 from its previous unlimited level for noninterest-bearing accounts. Treasurers now must rethink any practices that were based on the previous deposit insurance.http://www.afponline.org/mbr/reg/res/reg_news/Overcoming_Low_Interest_Rates,_Reduced_FDIC_Coverage.htmlWed, 06 Feb 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Overcoming_Low_Interest_Rates,_Reduced_FDIC_Coverage.htmlThe Canadian Mint has ceased distributing pennies to financial institutions. While the phase-out will not impact check or electronic payments, it will affect cash payments. Businesses are expected to round the final amount or change owed in a fair, consistent and transparent manner.http://www.afponline.org/mbr/reg/res/reg_news/Canada_Pulls_the_Plug_on_the_Penny.htmlTue, 05 Feb 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Canada_Pulls_the_Plug_on_the_Penny.htmlRecently on AFP’s discussion list corporate treasury and finance professionals discussed ADP reverse wire authorizations.http://www.afponline.org/mbr/reg/res/reg_news/Best_Practices__Reverse_Wire_Authorizations.htmlFri, 18 Jan 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Best_Practices__Reverse_Wire_Authorizations.htmlWhen it issued the full text of the revised Liquidity Coverage Ratio requirements for the Basel III capital adequacy regime, the Basel Committee surprised more than a few people by expanding the range of assets that banks could count as high-quality liquid assets. The implications for treasurers are profound.http://www.afponline.org/mbr/reg/res/reg_news/Strategic_Impacts_from_Basel_III_LCR_Changes.htmlThu, 17 Jan 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Strategic_Impacts_from_Basel_III_LCR_Changes.htmlAlthough banks have until 2019 to be fully compliant with the Basel III capital requirements, Canadian banks are complying now. A new guide from AFP of Canada and the Society of Canadian Treasurers examines what this means for Canadian corporates.http://www.afponline.org/pub/res/news/What_are_Basel_III%E2%80%99s_Implications_for_Canadian_Treasurers_.htmlTue, 15 Jan 2013 00:00:00 -0400http://www.afponline.org/pub/res/news/What_are_Basel_III%E2%80%99s_Implications_for_Canadian_Treasurers_.htmlUncertainty still reigns supreme on the economic landscape as we begin 2013. AFP asked banks and financial services providers for fearless forecasts—and they had plenty to say.http://www.afponline.org/mbr/reg/res/reg_news/Economists_Predict_2_Percent_Domestic_Growth_in_2013.htmlThu, 03 Jan 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Economists_Predict_2_Percent_Domestic_Growth_in_2013.htmlNow that the FDIC's Transaction Account Guarantee (TAG) program has expired, many corporates are undoubtedly assessing whether they want to move the cash they’ve hoarded over the past several years. Many of the accounts that will be affected exceed the maximum coverage of $250,000, so many corporates do not see the benefit of keeping all of that money parked in the same place.http://www.afponline.org/mbr/reg/res/reg_news/Corporates_Weigh_Options_Following_TAG_Expiration.htmlTue, 01 Jan 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Corporates_Weigh_Options_Following_TAG_Expiration.htmlOver 60 treasury and finance professionals were in attendance at the International Air Transport Association (IATA) Treasury Conference. The top three topics that airline treasury professionals feel could add more value to their organizations going forward are cash forecasting, working capital management and bank relationship management.http://www.afponline.org/mbr/reg/res/reg_news/Cash_Forecasting_Tips_from_the_Airline_Industry.htmlTue, 01 Jan 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Cash_Forecasting_Tips_from_the_Airline_Industry.htmlMany businesses want to switch payroll from paper to electronic, but the process is not easy—especially when you are a national retailer. Big Lots is a 1,400-unit chain with stores in all 48 contiguous states and annual revenues near $5 billion. So Jared Poff, VP Treasurer, and Deb Montesanti, Payroll Manager, knew it would be a big challenge to introduce a pay card for its 40,000 associates.http://www.afponline.org/pub/res/news/Why_Big_Lots_Made_a_Big_Change_to_Electronic_Payroll.htmlMon, 31 Dec 2012 00:00:00 -0400http://www.afponline.org/pub/res/news/Why_Big_Lots_Made_a_Big_Change_to_Electronic_Payroll.html