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News Roundup: Coverage of the Credit Crisis
December 12, 2007
AFP Staff Writers
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Interested in more risk management news? Check out AFP's Risk! newsletter.
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Below are recent AFP articles on the aftermath of the subprime crisis, a topic likely to surface during rountables at the upcoming AFP Risk Forum. For more information, see www.afponline.org/riskforum
Treasury Outlook 2008: Concerns in Managing Liquidity
Terrence R. Foster, CTP
This economic downturn has led not only to treasury professionals experiencing heightened concerns regarding attempts to ensure that their employers have access to adequate cash in order to fund business operations, but also has led them to pay closer attention to liquidity as it relates to liquidating assets held on the company's balance sheet.
Global Liquidity Roundtable Discusses Buy Side Risks, Communications to Stakeholders
AFP Staff Writers
AFP discussed the impact of the recent credit crisis and risks to the buy side in a global liquidity roundtable. Participants also explained how they communicate investment strategies and fluctuations with key stakeholders.
Financial Accounting and Reporting: Valuation Issues for Failed Auctions
John R. Rieger, AFP
The liquidity problems since August have set many accountants and treasurers scrambling to figure out how much of their liquid and short-term assets are no longer liquid, with no way to cash out unless the company takes a significant loss. A new white paper explains.
Predicting Fed Funds Rate Changes to Help Manage Short-Term Liquidity Problems
Michael Hunstad, PhD, CTP
Five variables are found to be statistically significant in predicting rate actions by the Fed. Knowing the probable direction can prepare cash managers to minimize interest rate risk in the short-term portfolio.
Interview: Use of Derivatives in So-called ‘Interesting Times'
Elizabeth Johns
We have all heard this famous saying: "May you live in interesting times." It is actually a curse. These are certainly interesting times for the corporate treasurer -- risky times, actually. Professor Pablo Triana comments.
AFP Board Vice Chairman Shares Sub-prime Crisis Experience
Terrence Foster, CTP, AFP
James Gilligan is vice chairman of the AFP Board and has been a member of AFP for more than 10 years. Recently Terrence Foster contacted him about his experience as a board member and as Manager of Corporate Treasury at Great Plains Energy.
The Bottom Line: Another Shoe? Opinions About the Coming Months
Elizabeth Johns, AFP
Fallout from the credit crisis is on the minds of financial professionals. Several subject experts weigh-in.
Research Director Discusses Survey on Subprime Crisis Aftermath
AFP Staff Writers
David Johnson spoke with Kevin Roth, AFP's director of standards and research, about a survey that was conducted at the AFP Annual Conference about the aftermath of the subprime crisis.
Interview: In Today's Market, a Good Treasurer Should Think Like a CFO
Elizabeth Johns
Ira Birns, CFO of World Fuel Services and a member of AFP's Board of Directors discusses the aftermath of the subprime crisis and the role of treasurer vs. that of CFO.
Executive Institute: MIT Professor Discusses Spreading Subprime Fallout
Christopher Bjorke, AFP
S.P. Korthari, an MIT professor of economics and accounting, was one of several speakers at the AFP Annual Conference in Boston whose presentations covered the mortgage-sparked credit crunch, the big story hovering over the finance industry.
Cautions for Treasurers on Auction Rate Securities
AFP Staff Writers
John Rieger, AFP's director of financial accounting and reporting, shares what he has been hearing from AFP members regarding auction rate securities.
AFP Urges SEC to Take Action on Conflicts of Interest in Credit Rating Agencies
Nicholas Jon Wood, AFP
Inside the Beltway, conflicts of interest are as common as tourists ensnarled in traffic. Guarding against conflicts of interest is one reason the Association for Financial Professionals has urged the Securities and Exchange Commission (SEC) to review its recently finalized rules regarding credit rating agencies.
Credit Market Turmoil to Continue According to Financial Professionals
AFP Research Staff
In a survey on-site at the AFP Annual Conference, almost two-thirds (62%) of respondents indicated that they think the turmoil in the credit markets will continue for some time. As a result, more than half (53%) are more pessimistic about the state of the U.S. economy than they were six months ago.
Innovation and Regulation
Elizabeth Johns and Tom Santos, AFP
Barney Frank (D-Mass.), Chairman of the House Financial Services Committee, spoke to AFP about what Congress has learned from the recent subprime crisis and what corporate treasurers can expect in the future, as regulation catches up to innovation in the broader financial markets.
FAS 140 to the Rescue of Subprime Mortgages
John R. Rieger, AFP
FAS 140, Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities, provides accounting and reporting standards for transfers and servicing of financial assets and extinguishments of liabilities. Here is how it might impact subprime mortgages.
Risks Rebalanced Due to Late Summer Liquidity Problems
John R. Rieger, AFP
Today, treasurers cannot be so sure that their cash actually qualifies on the balance sheet as cash or cash equivalents and may be in for a surprise come the end of the reporting period when the auditors arrive and analyze your cash assets to the definition of cash according to FAS-95.
And in the upcoming January issue of Exchange magazine: How the subprime crisis has put the focus on data management
Stay tuned for more information in the coming weeks.
Copyright © 2007 Association for Financial Professionals. All Rights Reserved.
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