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EACT Chairman discusses EU Derivatives Regulation on Reuters TV

Richard Raeburn, the EACT Chairman, appeared on Reuters Insider TV on Wednesday 28th July to discuss EU Derivatives Regulation. Richard comments on, amongst other related topics, the progress of the regulation proposals during the past 12 months, the relationship between corporates using derivatives and systemic risk, and why the EU's proposals for the application of thresholds could be considered a misguided concept in regards to tackling that systemic risk.

You can view a video of the 5 minute appearance by clicking here.

 
Welcome

richard_raeburn.jpglogomod.jpgWith world financial markets in turmoil and the economic prospects of many European countries looking weak this is a vital and challenging time for all involved with the treasury profession.  Against this background, as Chairman of the EACT I will continue to seek to provide a unifying focus for issues that, on a European level, affect how the members of the national associations can operate. 

Through our website we endeavor to provide useful informative about the EACT and provide a conduit for visitors to access the websites of the individual treasury associations making up the EACT.

  Richard Raeburn – Chairman EACT

Click here to read Richard's EACT blog

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Use of IBAN and BIC in European Credit Transfers – Public Consultation

The EPC Customer Stakeholder Forum (CSF) representing the EPC and customer organisations acting on a European level have prepared a set of questionnaires to investigate the actual experience of users inputting the IBAN and the BIC.

IBAN is a problem in a number of countries who still use old bank coordinates. The two main reasons for this are that IBAN is not yet mandated by national law in these countries, and that they do not have the IBANs for their suppliers and IBANs cannot be safely obtained from BBAN by a safe algorithm.

The first problem will be solved when the SEPA end date is fixed. The second, however, requires cooperation among customers, suppliers and banks and, possibly, a smart solution like the one implemented in Italy where corporates receive IBAN updates directly from banks.

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