With 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.
The EACT has responded to a joint consultation held by the European Supervisory Authorities on the risk-mitigation techniques for OTC-derivative contracts not cleared by a CCP. The margin requirements are meant to apply only to non-financial counterparties above the clearing threshold; however in our response we highlight that non-financial counterparties below the clearing threshold must be exempted from the requirements by default and that any prior agreement on exemption should not be necessary. Click here to read the full response >>
The objectives of the survey are to understand why treasury is changing and how technology can support treasury in this change process. It should not take more than 10 minutes to complete the survey, which covers the following areas:
- Challenges driving change in treasury (7 questions)
- Treasury´s changing scope and structure (9 questions)
- Treasury technology as enabler for change (9 questions)
- Demographics (5 questions)
To show our appreciation of the time you take to complete this survey, you will automatically receive the survey results and an individual "Benchmarking Report" comparing your answers to the overall results. You will also be entered into a prize draw for an iPad Mini. The winner will be informed by email.
Thank you for your support.
The EACT has responded to the European Commission’s consultation on foreign exchange instruments. The response highlights that FX transactions undertaken for commercial purposes by non-financial companies should not be considered as financial instruments under MiFID as such transactions promote rather than threaten financial stability. Furthermore, the delineation between a spot and an FX forward transaction should take proper account of the existing market practices and any eventual change of interpretation and scope should not put a further compliance burden on non-financial companies. Click here to access the full response >>