Rethinking Treasury
Overview
With digitalisation, regulations and more disruptive trends, the world of finance continues to be reshaped. Our insights can help you spot the difference, sport opportunities in this new future. Unlock ideas which stand out from the crowd.
For more information, please contact us: thought.leadership.global@hsbc.com




A strategic review of existing interest rate hedges in a project financing transaction
1 June 2020
More More, Collapsed
We are all bad statisticians (Part 2)
1 June 2020
Read the thirteenth article of our Rethinking Treasury
Read We are all bad statisticians (Part 2)

We are all bad statisticians (Part 1)
1 January 2020
Read the twelfth article of our Rethinking Treasury series.
Read We are all bad statisticians (Part 1)

Hello Digital - Understanding what the digital age means for risk management on three levels
1 October 2019
Read the first article of our Digital Strategy series
Read Hello Digital - Understanding what the digital age means for risk management on three levels

Balancing the economic benefit of hedging against potential Mark-to-Market volatility and breakage costs
1 October 2019
Previously in Rethinking Treasury we discussed how interest rate volatility can represent a significant proportion of the Value at Risk (“VaR”)
Read Balancing the economic benefit of hedging against potential Mark-to-Market volatility and breakage costs

Rethinking Capital Structure Series (Part 2)
1 October 2019
An overview of how select KPIs vary across sectors and the corresponding approaches to risk management.
Read Rethinking Capital Structure Series (Part 2)

Considering CVA from a Corporate perspective – implications for comparing derivatives pricing
1 September 2019
In the first article in the series, we explained how the financial crisis of 2008 led to the rise of the Credit Valuation Adjustment (CVA) as an important factor in derivatives pricing.
Read Considering CVA from a Corporate perspective – implications for comparing derivatives pricing

Risk management and digitisation – “A Brave New World“ for treasury?
1 September 2019
Read Risk management and digitisation – "A Brave New World" for treasury?
Read Risk management and digitisation – "A Brave New World" for treasury?

Why do emotions always seem to make us hedge at the worst times?
1 July 2019
Read the eleventh article of our Rethinking Treasury series.
why do emotions always seem to make us hedge at the worst times?

Is your decision-making near sighted? - How Hyperbolic Discounting can lead to suboptimal decision-making
1 June 2019
Read the tenth article of our Rethinking Treasury series.
Is your decision making near sighted? – How Hyperbolic Discounting can lead to suboptimal decision making

Calculation and drivers of the Credit Valuation Adjustment for Corporate Treasurers
1 April 2019
In this article, we explore in further detail the methodology behind CVA calculation and identify some key drivers of CVA.
Calculation and drivers of the Credit Valuation Adjustment for Corporate Treasurers

Navigating uncertainty while understanding regret
1 April 2019
After years of natural selection, our human brain is optimised for survival, using our ability to navigate the complex world by instantly assessing risks and rewards. That said, there still remains a much stronger bias against risk, as after all, we can only live once.
Navigating uncertainty while understanding regret

Integrating environmental factors into strategy and finance
7 March 2019
All participants in the Global economy are starting to more strongly analyse their impact on the environment, what changes are needed, and the investment and financing needed to support that.
Integrating environmental factors into strategy and finance

Considering Credit Valuation Adjustment (CVA) from a Corporate Perspective
7 March 2019
It is now standard market practice for banks to include in their derivative valuation the effect of CVA, but how does this adjustment work from a corporate perspective?
Considering Credit Valuation Adjustment (CVA) from a Corporate Perspective

Optimising Capital Structures
7 March 2019
Interest rates set at historic lows while asset prices have soared, enabling treasurers to obtain cheap and largely unfettered access to financing. But as governments increasingly look to reign in quantitative easing (QE), treasurers are likely to face some challenges.
Optimising Capital Structures

Rethinking Capital Structure Series (Part 1)
1 February 2019
This article is the first of a new series called “Rethinking Capital Structure.” In this series, we will explore risk management best practices in relation to corporates’ capital structure.
Read Rethinking Capital Structure Series (Part 1)

US Tax Reform a Year Later: Impact on Corporate Funding Decisions
1 January 2019
US Tax Reform a Year Later: Corporate Responses – Part 2
Read US Tax Reform a Year Later: Impact on Corporate Funding Decisions

Upping the Ante for Treasury Risk Management
11 December 2018
Corporate treasurers may have been spoilt in the immediate aftermath of the global financial crisis.
Read Upping the Ante for Treasury Risk Management

The Quest for the "Optimal Strategy" (Putting Pareto into Practice)
7 December 2018
Trends in disruptive technologies are driving companies to seek optimisation and best practices wherever possible.
Read The Quest for the "Optimal Strategy" (Putting Pareto into Practice)

US Tax Reform a Year Later: Corporate Responses
1 December 2018
The signing of the Tax Cuts and Jobs Act (TCJA) on December 22, 2017 commenced a new era of corporate taxation in the US.
Read US Tax Reform a Year Later: Corporate Responses

Belt and Road Initiative – Huge Opportunities, New Risks
1 November 2018
The landmark Belt and Road Initiative is presenting significant opportunities and new risks for companies of all types.
Read Belt and Road Initiative – Huge Opportunities, New Risks

Optimising Cash Flow & Working Capital in Times of Market Volatility
5 September 2018
Companies that emphasise working capital tend to combine a strong focus on operational improvements and leading technologies with the smart use of financial tools and bank solutions.
Read Optimising Cash Flow & Working Capital in Times of Market Volatility

Choosing a hedging policy: 2 factors that can cloud our decision making
1 September 2018
Read the sixth issue of our Rethinking Treasury series.
By Adco Leung, CFA, Thought Leadership, Asia-Pacific
Read Choosing a hedging policy: 2 factors that can cloud our decision making

Blockchain and Distributed Ledger Technology
23 July 2018
What are they and are they different?
By Vinay Mendonca, Global Head of Product and Propositions, Global Trade and Receivables Finance, HSBC
Read Blockchain and Distributed Ledger Technology

Rethinking Treasury - Becoming the CFO’s trusted lieutenant
29 June 2018
Approximately 200 CFOs and 300 treasurers share their perspectives on treasury in the HSBC Risk Management survey.
By Johannes Franz Herrmann, Thought Leadership, EMEA
Read Rethinking Treasury - Becoming the CFO’s trusted lieutenant

Treasurers, how overconfident are you?
1 June 2018
Read the fifth issue of our Rethinking Treasury series.
By Adco Leung, CFA, Thought Leadership, Asia-Pacific
Read Treasurers, how overconfident are you?

Designing an Effective FX Risk Management Policy
15 May 2018
Treasurers should take into account key considerations when designing an FX treasury policy, avoiding leaving the company exposed to negative outcomes.
Read Designing an Effective FX Risk Management Policy

Two ways to identify best practices for hedging
14 May 2018
Read the fourth issue of our Rethinking Treasury series.
By Adco Leung, CFA, Thought Leadership, Asia-Pacific
Read Two ways to identify best practices for hedging

The importance of quantitative approaches in risk management in three points
19 April 2018
Read the third issue of our Rethinking Treasury series.
By Adco Leung, CFA, Thought Leadership, Asia-Pacific
Read The importance of quantitative approaches in risk management in three points

The Science of Regret applied to Treasury Risk Management in three points
21 March 2018
Read the second issue of our Rethinking Treasury series.
By Adco Leung, CFA, Thought Leadership, Asia-Pacific
Read The Science of Regret applied to Treasury Risk Management in three points