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.

Latest News: EACT response to ESMA/EBA/EIOPA discussion paper on risk mitigation techniques for OTC derivatives, April 2012

The EACT has responded to the discussion paper from ESMA/EBA/EIOPA on risk mitigation techniques for OTC derivatives. The crucial areas covered by the document concern the potential requirements for collateral on OTC derivative transactions by corporates where the corporate concerned is above the 'clearing threshold' and the contracts cannot be cleared through a CCP. We are making two particularly important points: that there appears to be a fundamental inconsistency in the regulatory suggestion that banks should not be allowed to take a limited credit position on their OTC derivative activity with corporates, whilst banks are at the same time free to take credit risk through their lending activities; and that we are strongly opposed to a one-way exchange of collateral between the banks and corporates. Our response is HERE and you can view the ESMA/EBA/EIOPA discussion paper HERE.

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