We hope you enjoy the September edition of the EACT Newsletter.
In this edition you will find articles about central bank digital currencies (CBDCs), communication in a digital world, and information regarding the new 2020 - 2021 Journeys to Treasury report.
As ever, please do follow the EACT LinkedIn page for the very latest member association news and treasury insight.
In this issue
12 months ago, Central Bank Digital Currencies (CBDCs) were the topic of think tanks and obscure magazines. These days, not a month goes by without a new headline in the more popular press.
With the launch of the 2020-2021 report, following on from the special COVID-19 series earlier in the year, the Journeys to Treasury partners are helping treasurers globally at every step through a tumultuous journey.
Following an initial period of reflection and public consultation, EU policymakers are now set to launch many of the set pieces of financial regulation for the current legislative mandate. At the same time, the impact the COVID-19 pandemic has had on the economy has motivated policymakers to adjust a number of pieces of securities markets and prudential regulation to ease burdens on investment firms, banks, and companies.
COVID-19 has certainly impacted the way we communicate from a technical and logistical perspective. It has also perhaps raised our awareness around the importance of communications, on a number of different levels.
The health crisis linked to the coronavirus epidemic has plunged all countries worldwide into the unknown. Paralyzing a large portion of the population and of companies, the health crisis subsequently gives way to a major economic crisis. Against this backdrop, companies first focused on liquidity. Indeed, with a sudden drop in sales, the cash flow generation slows down or even stops as companies are unable to slow down their cash outflows.
From March to May 2020 the VDT conducted a survey on Payment Factories. The trigger for the survey were the numerous regulatory changes that have had a strong impact on the processing and optimization opportunities in payment processes.
Different reasons, including the pandemic, are forcing all of us to revisit the finance organization as a whole and to move a step further towards digitization. This is a fantastic opportunity arises for those who will be ready to on-board new technologies and prepared for these changes and… challenges.
VDT Working group "Electronic Signatures / Digital workflow"
The digitization of corporate processes can no longer be delayed. As part of this and sooner rather than later, the physical signature will belong to the past. As a consequence of the pandemic, Work From Home (WFH) arrangements will become an increasing part of the new normal, rather than just an exception.
Anecdotes from life in treasury
A treasurer had this amusing story to tell: “In the retail sector, payment settlements automatically generated from our TMS that included the abbreviation SPO for spot plus reference number in the reference field led to massive problems with our banks.”
The EACT is pleased to invite its members for nominations for the 4th EACT Award.View More
This year marks the 15th anniversary of the Association of Polish Corporate Treasurers. The 20th August, 2007 is the foundation day of the AssociationView More
EACT Award 2022: And the Winner is... For the 3rd year in a row, the EACT recognises a project realised within the European Treasury Community.View More
We wish you and your loved ones a happy holiday season and a new year filled with joy, prosperity and happiness.View More
The European Association of Corporate Treasurers (EACT) announces the appointment of François Masquelier as its new Chair as from October 1st.View More