Le magazine du trésorier - n°67 - 3ème trimestre 2009 - (Page 7)

Interview with… Barbara Ridpath, Chief Executive of the International Centre for Financial Regulation (ICFR) What is the impact on corporate treasurers of the future of financial market regulation? It is clear that over the short term, credit will be less available, spreads will be higher and conditions tighter than they have been in a long time. Should bank capital requirements increase as much as is currently speculated, this decline in availability and increase in cost could become more permanent, further encouraging disintermediation, and encouraging corporate treasurers to increase their usage of the commercial paper and bond markets instead of the loan market. Over the longer term, while policymakers are concerned about the growth of the ‘mega-bank,’ too complex and systemically important to fail, their actions are actually working towards further consolidation of the banking sector. This could suggest that treasurers will have less competition from which to choose in future over who provides their services. Do you think that G20 has really defined and precisely determined what they wanted to implement? I think they have done a better job than many give them credit for, particularly given the different forms of government and views on market mechanisms that each member state brings to the negotiating table. While it is true that the G20 have tackled the subjects on which there is easiest agreement first, their agenda remains ambitious, and much of the ‘heavy lifting’ has now been left to other international bodies to propose solutions.What remains to be seen is whether the momentum to drive change continues when the worst of the current crisis is perceived to have past. Do you see this terrible financial crisis as an opportunity to revisit regulations and to enhance them? I do believe it is a call to awaken from our complacency, and that the events of the last two years should temper our beliefs in wholly-efficient markets. However, the problems are complex, and an understanding of the causes and best solutions takes time and significant changes in behaviour. To date, responses have been relatively well-conside- Objective is to find the right way for the regulation and the global economy. INTERVIEW

Table des matières de la publication Le magazine du trésorier - n°67 - 3ème trimestre 2009

Couverture
Sommaire
EDITORIAL
- Treasury Got Talent
FINANCIAL HIGHLIGHTS
- Luxembourg News
INTERVIEW
- Mrs. Barbara Ridpath, Chief Executive of the International Centre for Financial Regulation (ICFR)
FOCUS
- The Necessary Evolution of German Conglomerates As a Result of the Crisis
- Plan Contingent pour le Département de Trésorerie
FORUM OF ADVERTISERS
- Using Technology to Achieve Financial Risk Visibility
- How CFOs can strengthen their roles as business partners in times of crisis
- Comment renforcer son modèle économique pour préparer la reprise ?
- Vers une reprise durable ?
- 15 minutes with… Mr. Stéphan Caro - Misys
TREASURERS’ ASSOCIATIONS
- SEPA risks failure unless corrections are made, say end users
- Partenariat conclu entre l’ATEL et CFO World
- Reforming OTC Derivatives, a new challenge for Corporate Treasurers
- How Borrowing Conditions are Affecting European Business
NEWS

Le magazine du trésorier - n°67 - 3ème trimestre 2009