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In this issue:

Journeys to Treasury: Shaping the Treasury of 2025
New Methodologies for the Determination of EURIBOR and EONIA
Changeover in the European Institutions
EMIR Refit: How to Get Benefit from the Intercompany Reporting Exemption?
ATEL 25th Annual Conference
Cashing in on Trends in Brno: The 8th CEE Treasury Forum
EACT celebrates the 25th anniversary of ATEL

We hope you enjoy the October edition of the EACT Newsletter.

Please be sure to visit the EACT website and follow the EACT LinkedIn page for the very latest member association news and treasury insight.

Jean-Marc Servat
Chair, EACT

Journeys to Treasury 2019-2020: Shaping the Treasury of 2025

The treasury – and the treasurer - of 2025 will look very different to that of today. Treasury is becoming more relevant as the need to manage liquidity and risk internationally becomes more important and visible at Board level, and more strategic as it becomes more deeply involved in the commercial aspects of the business. As treasurers extend their reach and influence, the skills requirement is changing while the combination of data and available technology is creating valuable new opportunities.

In the fourth edition of Journeys to Treasury, BNP Paribas, PwC, SAP and the European Association of Corporate Treasurers (EACT) come together once again to explore some of the priorities that treasurers have identified, and which are shaping the treasury of today and tomorrow:

New Methodologies for the Determination of EURIBOR and EONIA

On 20 September 2019, the EACT Board members attended a presentation on the EURIBOR and EONIA reforms, two critical benchmarks administered by the European Money Markets Institute (EMMI). The presentation given by Petra De Deyne, Strategic Advisor at EMMI, focused on an overview of the ongoing reforms. EMMI proposes a glance at how far the reforms currently stand.

Changeover in the European Institutions paves way for a more politicised sense of continuity

The coming legislative cycle is likely going to be marked by this dichotomy of a more fractured and more politicised European Parliament on the one hand and a node of relative continuity and stability on the other hand in the European Commission.

EMIR Refit: How to Get Benefit from the Intercompany Reporting Exemption?

When EMIR Refit was approved and adopted, the major improvement was the exemption for reporting intercompany derivatives. When two entities belonging to the same group or having similar parent company, out of which at least one is an “NFC” (i.e. Non-Financial Company), they are not obliged anymore to report intragroup derivative transactions. However, to get full benefits from this reform treasurers need to apply for exemption to their domestic Supervisors and potentially to all other Supervisors, when they report on behalf of their affiliates.

ATEL 25th Annual Conference

The 25th ATEL Annual Conference took place at Sofitel Kirchberg and brought together 200 professionals to discuss treasury trends and forecasts ranging from the evolution of payments, the effects of corporate tax and VAT on treasury companies, to capital calls and cybersecurity.

Cashing in on Trends in Brno: The 8th CEE Treasury Forum

More than 100 delegates from seven countries gathered to share experiences at this year’s CEE Treasury Forum held in Brno, Czech Republic, from 3 October to 5 October.

EACT celebrates the 25th Anniversary of ATEL

The EACT administrators spent three very busy days from 19 to 21 September 2019 in Luxembourg, with the annual conference of ATEL (the Luxembourg association of corporate treasurers), a visit to several financial institutions (including Luxembourg for finance and the European Investment Bank), and the board meeting of directors of EACT.