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The document discusses various topics related to treasury management, including:
1) Functions of treasury management such as cash management, liquidity management, risk management, and investments.
2) Asset-liability management and its goal of minimizing interest rate and liquidity risk.
3) Treasury technology that has improved liquidity and risk management by providing timely access to information and better controls over transaction processing.
4) Emerging topics in treasury like electronic commerce and the challenges and opportunities it presents.
The document discusses various topics related to treasury management, including:
1) Functions of treasury management such as cash management, liquidity management, risk management, and investments.
2) Asset-liability management and its goal of minimizing interest rate and liquidity risk.
3) Treasury technology that has improved liquidity and risk management by providing timely access to information and better controls over transaction processing.
4) Emerging topics in treasury like electronic commerce and the challenges and opportunities it presents.
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Attribution Non-Commercial (BY-NC)
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Unduh sebagai PPTX, PDF, TXT atau baca online dari Scribd
The document discusses various topics related to treasury management, including:
1) Functions of treasury management such as cash management, liquidity management, risk management, and investments.
2) Asset-liability management and its goal of minimizing interest rate and liquidity risk.
3) Treasury technology that has improved liquidity and risk management by providing timely access to information and better controls over transaction processing.
4) Emerging topics in treasury like electronic commerce and the challenges and opportunities it presents.
Hak Cipta:
Attribution Non-Commercial (BY-NC)
Format Tersedia
Unduh sebagai PPTX, PDF, TXT atau baca online dari Scribd
Treasury management; concepts and Iunctions; instruments in the
treasury market; development oI new Iinancial products; control and supervision oI Treasury management; linkage oI domestic operations with Ioreign operations. sset-liability management; Interest rate risk; interest rate Iutures; stock options; debt instruments; bond portIolio strategy; risk control and hedging instruments. Investments - Treasury bills Money markets instruments such as CDs, CPs, IBPs; Securitisation and ForIaiting; ReIinance and rediscounting Iacilities. hat is Treasury Management O A place where stores oI treasures are kept; the place oI deposit, care, and disbursement oI collected Iunds O Collects Iunds and disburses money. O Managing Funds through proper allocation O Responsibilities Iall under the scope oI CFO O The CFO`s responsibilities include capital management, risk management, strategic planning, investor relations and Iinancial reporting. I|c \a:a-c: kcsou:cc Dccisio:s l:io:uatio: Dccisio:s li:a:ci:- Dccisio:s l:vcstuc:t Dccisio:s luua: kcsou:ccs Dccisio:s Mo-oo.-o o- .-.; r..o... as| \a:a-cuc:t l:vc:to:v \a:a-cuc:t Wo:|i:- aital \a:a-cuc:t l:vcstuc:t i: luua: aital lo:-tc:u Asscts Accou:ts kccciva|lc lco:ouics oi l:io:uatio: Data|asc \a:a-cuc:t Data \occli:- l lla::i:- Dcvclouc:t Dc|t vs. Iax li:a:ci:- ost oi aital ...o- ro. o/o. c..o..- t.-o-..o/ Mo.|. as| l:ilows c:ati:- Dccisio:s kcc:uituc:t. clcctio: I:ai:i:-. l:ocuctivitv lc:io:ua:cc A:aisal ouc:satio: u:io:s la|o: kclatio:s t.. .;./. .... io.-. .;./.. oo//.. ..-. ... o:o:atc to:v
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O l:occss ilow :ccit ua:a-cuc:t lssuc i:voicc llcct:o:ic |ill :csc:tatio: lo:ccast cas| as| liquicitv ua:a-cuc:t li:a:cc wo:|i:- caital Disutc ua:a-cuc:t kcsolvc cisutc ollcct as| I:casu:v kis| ua:a-cuc:t l:|ousc cas| ua:a-cuc:t cttlc av ollcctio:s ua:a-cuc:t |cc| c:ccit wo:t|i:css kcco:cilc Key areas of Public Cash Management Organization Collection and disbursement of funds Netting of interagency payments nvestment of excess funds Optimal level of cash balances Cash planning and budgeting Bank relations Integrated Treasury Department Make investment in their own account SLR, CRR, CP, CD, TB, Bonds & Debentures, Equities and various other derivaties Domestic Treasury Operations Conduct operation on behalI oI clients Spot and Iorward markets, Ioreign exchange swap markets , FCNR and Nostro Account. Forex Treasury Operations Integrated Treasury O l:tc-:atcc I:casu:v :cic:s to i:tc-:atio: oi uo:cv ua:|ct. sccu:itics ua:|ct a:c io:ci-: cxc|a:-c oc:atio:s. O Obiectives a. Meeting reserve requirements b. Provision Ior adequate and timely liquidity c. Global cash management d. Optimizing proIit by exploiting market opportunities in Iorex market, money market and securities market e. Risk management i. liiicic:t uc:c|a:t sc:viccs -. Assisti:- |a:| ua:a-cuc:t i: Al\ $truoture of 1reasurv Uepartment :3.943 #085438-0 147 Iionl offico DoaIing Mid-Offico Risk nanagononl, accounling and nanagononl infoinalion ack offico Confiinalions, sollIononl and ioconciIialion #ONT OCE BACK OCE MD OCE Dealing MS settlement Bank treasury departments O Money market desk O Foreign exchange or FX desk O Equities Desk O Derivatives Desk Treasury Strategies, Inc. TreasuryStrategiescom Debt & Investment Management Performance Measurement Treasury Operations Risk Management Treasury Management Credit Exposure Management VaIue at Risk SimuIation Cash Position Transaction Management BRM System Interfaces Best Practices Benchmarks Other Metrics Long Range GoaIs Liquidity Long Term Invest Debt Issuance System Interfaces Global / Domestic Derivatives/ Currencies G/L/E#P nterfaces Simple/ Esoteric orkstaton unotonaltv 1reasurv Functions oI Treasury Management O Reserve Management & Investment O Cash Management O Liquidity & Funds Management O Risk Management O Asset liability management O TransIer Pricing O Derivative products O Arbitrage O Insurance Management #eserve Management & Investment O Meeting CRR/SLR obligations a) CRR 6 b) SLR 25 O Appropriate mix oI investment portIolio ash Management O Control & care oI the cash assets and liabilities oI the organization. O Selection oI investment products, investment brokers, methods oI borrowing, cash management inIormation system and the development and compliance with cash and investment policy and processes. 1 3393333333 1 OrJer Onon::y rZ) cost (sj Z * 1o:ol cos:s HolJnq cos:s. rZ/2)*r OrJer cos:s.rm//Z)*1c Gptimai cash Baiance via Baumoi Modei Z * b |:!\I: M = $10,000 M = $10,000 r = .01% .0001 r = .01% .0001 TC = $20 TC = $20 Z = $63,246 Z = $63,246 nvestment of excess funds iquidity & Funds Management O Analysis oI cash Ilow arising out oI asset liability transaction O Fund various asset oI balance sheet O Policy inputs to strategic planning and yield expected in credit and investment. #isk Management O Changes in Interest rates O Increasing NPA`s O Increasing level oI disintermediation O It includes customer credit management, vendor/contractor Iinancial analysis, liability claims management, business disaster recovery, and employee beneIits program risk. Transfer Pricing O TransIer oI Iunds to related party. O Assist in enhancing proIits O PerIormance evaluation erivative Products O Develop Interest Rate Swap and other cross currency derivative products O Hedge bank`s own exposure and also sell to customers rbitrage O Risk less proIits Insurance Management O Insurance Management is the process oI negotiation oI insurance policies to mitigate the risks that the organization does not want to assume. ccounts #eceivable Management O Accounts Receivable Management includes the control oI cash receipt systems within the organization. ccounts Payable Management O Accounts Payable Management includes the control oI the cash disbursement process. Assct lia|ilitv \a:a-cuc:t Assct \a:a-cuc:t low liquic a:c asscts oi |a:|s lia|ilitv \a:a-cuc:t low casilv |a:|s ca: -c:c:atc loa:s i:ou ua:|ct l: Ic:us oi . \atu:itics i:tc:cst :atc sc:sitivitics Io \i:iuizc. l:tc:cst :atc :is| liquicitv kis| ALM O Al\ is a: i:tc-:al a:t oi t|c ii:a:cial ua:a-cuc:t :occss oi a |a:|. O Al\ is co:cc::cc wit| st:atc-ic |ala:cc s|cct ua:a-cuc:t i:volvi:- :is|s causcc |v c|a:-cs i: i:tc:cst :atc. cxc|a:-c :atcs a:c liquicitv ositio: oi t|c |a:|. 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TreasuryStrategiescom 1eohnoloev O u::c:t tatc oi I:casu:v a:c Icc|:olo-v. O \ost t:casu:c:s usc t:casu:v tcc|:olo-v to suo:t t|ci: t:casu:v iu:ctio:s O la:|:oviccc soitwa:c O I|i:c a:tv:oviccc soitwa:c O I:casu:v tcc|:olo-v |as iu:ovcc liquicitv a:c :is| ua:a-cuc:t O lcttc: a:c uo:c tiuclv acccss to i:io:uatio: O lu:ovcc co:t:ols ovc: t:a:sactio: :occssi:- Treasury Strategies, Inc. TreasuryStrategiescom ash oreoastne O lc:ciits oi wc|c:a|lcc tcc|:olo-v alicc to cas| io:ccasti:-. O lasic: acccss to a :co:ti:- ucc|a:isu i:ou a:v co:o:atc locatio: O Autouatcc i:io:uatio: catu:c i:ou ot|c: cata sou:ccs O Alicatio: oi autouatio: to csta|lis| |isto:ical c:scctivc a:c icc:tiiv u:usual cas| ilows O Glo|al iulcuc:tatio: O ta:ca:cizcc a:oac| to :ctti:- oc:atio: O \o:c liuitcc a:c ua:a-ca|lc t:ai:i:- :cqui:cuc:ts Treasury Strategies, Inc. TreasuryStrategiescom A$! $olutons Subscribers Subscribers Subscribers Custody Bank 3 Bank 2 Bank 1 Broker/DeaIer ASP Service Information Exchange Internet Treasury Strategies, Inc. TreasuryStrategiescom ommeroe O Diiic:c:t t:casu:v c|allc:-cs a:c oo:tu:itics. ccc:ci:- o: t|c i:cust:v a:c ua:|ct sc-uc:t O Altc::ativc acccss a:c cclivc:v c|a::cl io: couuc:cial |a:|s O lusi:csstoco:suuc: :l! t:a:sactio:s o: t|c iast t:ac|: O ollc-cs a:c u:ivc:sitics a:c i:volvcc i: succcssiul ccouuc:cc :o-:aus O Govc::uc:t is iaci:- c|allc:-cs ccali:- wit| salcs tax :cvc:uc collcctio:s O l:o|c:a-c i:cust:v. o:li:c t:aci:- |ot. |ut t:accs a:c scttlcc wit| co:vc:tio:al avuc:t O li:st uajo: wavc oi t:casu:v i:io:uatio: a:c soitwa:c :ocucts |ccoui:- Wc|c:a|lcc Treasury Strategies, Inc. TreasuryStrategiescom ommeroe O o:o:atc I:casu:v o:tu:itics O :cw i:vcstuc:t|o::owi:- sou:ccs O t|c:. i:tc::ctowc:cc ii:a:cial :ocucts O D:auaticallv c:|a:ccc i:io:uatio: ilows O ost a:c ciiicic:cv iu:ovcuc:ts O I:casu:v :olc i: t|c ccvclouc:t oi -lo|al ccouuc:cc vc:tu:cs O o:o:atc I:casu:v |allc:-cs O I:casu:v ua:a-cuc:t issucs O lavuc:t svstcu issucs O l:io:uatio: ua:a-cuc:t issucs O kis| ua:a-cuc:t issucs Treasury Strategies, Inc. TreasuryStrategiescom ommeroe O I:casu:v \a:a-cuc:t lssucs O |a:-c a:c ccvclouc:t i: wo:|i:- caital a:c c:ccit couo:c:ts O lositio:i:- t:casu:v st:atc-icallv i: a -lo|al ccouuc:cc c:vi:o:uc:t O :cw t:casu:v s|ills :cqui:cc O kc-io:al t:casu:v ua:a-cuc:t :cqui:cuc:ts O :oss|o:cc: vs. i:t:acou:t:v O :-a:izatio:al liuitatio:s 1reasurv Manaeement $ervoes O Improve vou: :ccciva|lc collcctio: :occsscs O Increase co:t:ol a:c ua:a-cuc:t oi vou: cis|u:scuc:ts O Inhance vou: lcvcl oi tiuclv a:c cou:c|c:sivc i:io:uatio: co:t:ols O Maimize vou: liquicitv ua:a-cuc:t O Reduce t|c otc:tial io: i:auc a:c ossi|lc uo:cta:v losscs to vou: coua:v O Provide t|c uost acva:ccc i:io:uatio: tcc|:olo-v tools availa|lc #eoevables Manaeement O as| o:cc:t:atio: O Di:cct Dc|it AcH Debit Whoiesaie Iockbo #eoevables Manaeement u::c:t cav cctail :co:ti:- lua-cc :cuitta:cc cocuuc:ts l:voicc catu:c cctail u::c:t cav cctail :co:ti:- lua-cc :cuitta:cc cocuuc:ts l:voicc catu:c cctail Retaii Iockbo #eoevables Manaeement auc cav cata t:a:suissio:s lua-i:- availa|lc oi c|cc|. couo: o: |ot| ca:c|a|lc Dk\ a:c|ivc oi :occsscc cctail auc cav cata t:a:suissio:s lua-i:- availa|lc oi c|cc|. couo: o: |ot| ca:c|a|lc Dk\ a:c|ivc oi :occsscc cctail Usbursement Manaeement O o:t:ollcc Dis|u:scuc:t O lo:tc: O lcu|ill O lo:cv G:ovc O Accou:t kcco:ciliatio: O lull Akl O la:tial Akl O Dcosit :cco:ciliatio: O Di:cct t:a:suissio: oi aic itcu iilcs O tatcuc:t a:c c|cc| iua-i:- o: Dk\ Usbursement Manaeement AcH lasv to coulctc t:a:sactio: io:us Wicc va:ictv oi avuc:t tvcs i:cluci:- lDl !0 Allows iuo:t oi t:a:sactio: cctail i:ou ot|c: alicatio:s lasv to coulctc t:a:sactio: io:us Wicc va:ictv oi avuc:t tvcs i:cluci:- lDl !0 Allows iuo:t oi t:a:sactio: cctail i:ou ot|c: alicatio:s Positive Pay Advantage Usbursement Manaeement O A kclatio:s|i avc: O 90 Dav listo:v oi laic |cc| lua-cs O c\ail :otiiicatio: w|c: ltcus a:c kcacv io: kcvicw O Dv:auic kco:ts O lxo:t Data to a couua ccliuitcc iilc :V io: iu:t|c: ustouizatio: O \a:a-c vou: lusi:css wit| ou: Acui:ist:atio: \oculc $A! 1reasurv and #sk Manaeement (1#M) ! iobai Best Practices in Risk and 1reasury Management A comprehensive ramevork - 9 part ramevork !9 Global Best Practices in Risk and Treasury Management Risk Approach !00. llDll l:c. All :i-|ts :csc:vcc. +0 iobai Best Practices in Risk and 1reasury Management Integrated, not Iragmented Approach (Asset, Iiabiiity, G-Baiance sheet Itemsj +1 Global Best Practices in Risk and Treasury Management O Best Practices Institutions view Risk Management not from the perspective of compliance or control but from the perspective of value creation O Best practice institutions take a proactive, not a reactive approach to Risk Management as part of Balance Sheet Management. O Best practice institutions have a clear articulation of the amount of risk to be taken. They are quantified, pre- specified, and measurable O Best practice institutions have a balance sheet management process that encompasses on-balance sheet, off-balance sheet, and behind the balance sheet (quality of Risk Management infrastructure) items. +! Global Best Practices in Risk and Treasury Management Best practice institutions manage risk, not eliminate them. The watchwords are: O Risk by choice, not by chance O Exposure by choice, not by chance O Clean bet, not confused bet O Bet with your head, not over your head O Best practice institutions control both the volatility of Interest Income (NII), a short-term objective, and Econ Value of Portfolio Equity (EVPE), a long-term objective. O A change in the EVPE is a leading indicator of the quality of future income statement. !00. llDll l:c. All :i-|ts :csc:vcc. +! Global Best Practices in Risk and Treasury Management Strategic Process Best practice institutions have Risk Management function acting as a catalyst for the formulation of strategies. They ensure that there is a fit between different strategies. They include: W n-Balance Sheet Business Strategies W n-Balance Sheet Investment/Funding Strategies W ff-Balance Sheet Strategies ++ Global Best Practices in Risk and Treasury Management Derivatives O Best practice institutions view derivatives as a double-edged sword - they are not an end but a potential means to accomplishing a strategic objective. O Best Practices institutions primary emphasis is on Strategies for Exposure Reduction and not on techniques for Noise Reduction. O Best practice institutions follow simple, easy-to-understand derivatives strategies for their Risk Management; in particular, they avoid exotic products/leveraged structures. O The watchword is " Keep It Simple, Smart ". !00. llDll l:c. All :i-|ts :csc:vcc. +. Global Best Practices in Risk and Treasury Management Analytical Framework O Best practice institutions use an eclectic mix of analytical techniques such as gap analysis, simulation, duration, and value at risk depending on the structure of the balance sheet and target variable being measured. O No single technique is regarded as better than the others by best practice institutions. They view these techniques as complementary diagnostic tools. !00. llDll l:c. All :i-|ts :csc:vcc. +o Global Best Practices in Risk and Treasury Management Information Reporting Framework Best practice institutions share Risk Management information among employees at right frequency and at the right level of detail. They ensure that the amount/type of information received is appropriate/necessary for the recipients' task. An appropriate balance between information overload and the dearth of information is maintained. !00. llDll l:c. All :i-|ts :csc:vcc. + Global Best Practices in Risk and Treasury Management Control Framework Best Practice institutions ensure that the Risk Management limits are articulated to place a "ring fence" around operating managers rather than tying their hands with rigid limits. They strive for a judicious balance between "tight controls" and "loose controls". A successIul treasury Iunction has the same attributes as any other Iunction within the organization that is considered successIul. These qualities are: W Teamwork W Respect oI Organization W Forward Thinking W Global Thinking W Technologically Advanced W Customer Focused W Finance/Accounting Knowledge W Legal Knowledge W Reliability Treasury Strategies, Inc. TreasuryStrategiescom 1he uture of the 1reasurv unoton O I:casu:v o:-a:izatio:s will co:ti:uc to s|:i:| O l:c:cascc usc oi :ulc |ascc cccisio: ua|i:- O l:c:cascc usc oi outsou:ci:- O Doucstic t:casu:v iu:ctio:s a:c |ci:- ciiiuscc t|:ou-| co:o:atc o:-a:izatio:s O |iit to l i:vitcs :cw couctito:s to t|c ta|lc O \o:c oi:ts oi co:tact io: t:acitio:al |usi:css ccvclouc:t O Glo|al t:casu:v iu:ctio:s. o: t|c ot|c: |a:c. a:c |ci:- cc:t:alizcc O uall |usi:css t:casu:c:s uo:c so|isticatcc a|out t:casu:v ua:a-cuc:t :ocucts a:c sc:viccs Treasury Strategies, Inc. TreasuryStrategiescom 1he uture of the 1reasurv unoton $uooess aotors orporate 1reasurv O I:casu:v uust co:ti:uc to suo:t co:o:atc st:atc-v O luact o: co:o:atc :oiita|ilitv O Discili:cc iocus o: co:c couctc:cics O Acccss to i:io:uatio: vc:sus cata O o::cct culovcc s|ill sct uix O Dcvcloi:- a: ccouuc:cc a:oac| t|at iits O iulc: a:c casic: cxccutio: oi t:casu:v ua:a-cuc:t O locus o: ii:a:cial st:atc-ics a:c olicics Treasury Strategies, Inc. TreasuryStrategiescom 1he uture of the 1reasurv unoton $uooess aotors nanoal $ervoe !rovders O la:|s uust usc k\ a:c cata ui:i:- to |:ow a:c sc:vc clic:ts i: i:c:casi:-lv custouizcc wavs O la:|s uust ii:c a :cw |ala:cc |ctwcc: clic:t acquisitio: a:c clic:t :ctc:tio: ciio:ts O I:casu:v ua:a-cuc:t |a:|s uust |c c:cativc i: :ovici:- valuc |cvo:c u:c avuc:t :occssi:- O I:casu:v ua:a-cuc:t |a:|s uust ccvclo a -lo|al c:scctivc o: sc:viccs a:c cclivc:v O I:casu:v ua:a-cuc:t |a:|s uust lca:: to oc:atc i: i:tc::ct tiuc Treasury Strategies, Inc. TreasuryStrategiescom 1reasurv 0utsourone Review and Test Disaster Recovery Plan Assist as Bus Go up on New Services Advisor, source of info & feedback on New Banks & Services Train Backup for Vacations, etc. Develop and Maintain Complete Procedural Documentation Bank Account Admin; Signatory Tracking Monitor Balances & Service Charges; Troubleshoot Get Involved in BU Service Problems According to Decision Rules Advisor in Updating Banks & Account Structure Due to Acquisition, etc. Assess Bank Service, Periodic Quality Feedback to Customer/ Bank Historical Reporting and Trend Analysis Prepare Periodic Cash Management Reports Outsourcer Periodic Activities