Rethinking Treasury

Read the first article of our Digital Strategy series


Read Hello Digital - Understanding what the digital age means for risk management on three levels

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

An overview of how select KPIs vary across sectors and the corresponding approaches to risk management.


Read Rethinking Capital Structure Series (Part 2)

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

Read Risk management and digitisation – "A Brave New World" for treasury?


Read Risk management and digitisation – "A Brave New World" for treasury?

Read the eleventh article of our Rethinking Treasury series.


why do emotions always seem to make us hedge at the worst times?

Read the tenth article of our Rethinking Treasury series.


Is your decision making near sighted? – How Hyperbolic Discounting can lead to suboptimal decision making

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

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

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

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

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

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: Corporate Responses – Part 2


Read US Tax Reform a Year Later: Impact on Corporate Funding Decisions

Corporate treasurers may have been spoilt in the immediate aftermath of the global financial crisis.

Read Upping the Ante for Treasury Risk Management

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)

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

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

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

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

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

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

Read the fifth issue of our Rethinking Treasury series.
By Adco Leung, CFA, Thought Leadership, Asia-Pacific

Read Treasurers, how overconfident are you?

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

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

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

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