AFP Releases New Service Codes
Since 1986, AFP Service Codes© have been recognized as the standard for identifying balances and charges that appear on account analysis statements and in responding to RFPs. The 2013 AFP Service Codes© include 247 new codes for banking services that have become more widely adopted in recent years in addition to revisions to over 443 codes to reflect changes since the 2008 edition.
Sheila Bair Assesses Current U.S. Fiscal and Political Climate at AFP 2013
Tuesday at the AFP conference concluded with a keynote address by Sheila Bair, former chairman of the Federal Deposit Insurance Corporation (FDIC). As AFP chairman Susan Glass noted in her introduction, Bair presided over a tumultuous period in U.S. economic history. In the depths of the 2008-09 financial crisis, the FDIC faced a continuing struggle to convince a skeptical media that it was not about to run out of funds.
SWIFT: Industry Collaboration Essential for EBAM Growth
It will likely still be a little while before Electronic Bank Account Management (EBAM) becomes mainstream for corporate treasury departments. However, thanks to a recent industry collaboration effort that time might be coming soon, SWIFT said Monday at the 2013 AFP Annual Conference.
The Best: Canadian Banks Again Ranked World’s Strongest
The World Economic Forum has ranked Canada’s banking system as the world’s strongest for the sixth straight year. Canadian banks have earned such an exceptional reputation in part by increasing the amount of credit available to businesses since the start of the global financial crisis.
What Treasurers Need to Know About FATCA
The IRS has launched an online registration system for foreign financial institutions (FFIs) and certain non-financial foreign entities (NFFEs) to comply with the Foreign Account Tax Compliance Act (FATCA). Corporate treasurers should check and see whether their organizations need to register.