Media – Blog
October 1, 2008
In light of this week’s failed vote on the Troubled Asset Relief Program (TARP), we wanted to share some credit considerations with you. Companies may want to evaluate non-2a-7 bank money market deposit accounts (MMDA’s) with balances greater than $100,000, the FDIC coverage limit per bank (the FDIC insurance limit
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September 3, 2008
I understand that not all recipients of our monthly newsletter would have been affected by the meltdown of the auction rate securities market; however, the structure of the recent broker-dealer/SEC settlements may pique the interest of many corporate treasurers. Of specific interest to us is the manner in which institutional
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August 4, 2008
In real estate investing, we all know the old adage is location, location, location. And, as an extension, the three most important factors we’re looking to for signs of stabilization in the credit market are housing, housing, housing. Over the past 12 months we have seen national home prices plummet
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August 1, 2008
Introduction In a move to restore confidence in the U.S. mortgage market, President George W. Bush signed into law on July 30th, a housing rescue bill that includes a provision for the U.S. Treasury Secretary to inject capital into Government Sponsored Enterprises (GSEs) through direct stock or debt purchases.. The
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July 1, 2008
In light of the difficult credit market of late and the recent emergence of a small yet hopeful glow at the end of the tunnel, this month we wanted to cover a topic that can help with a question that may be on the mind of many corporate treasurers: How
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June 3, 2008
Now for some good news…. Indicators of a recovering credit and liquidity environment have emerged significantly over the last month. The TED spread (3-Moth LIBOR vs. Treasuries) continued to narrow to 79 basis points, while a continued sell-off in treasuries contributed to a stronger upward bias in the Fed Funds
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June 2, 2008
Now well into our 18th year of working with treasury managers across the country, it’s as clear as ever that managing risk remains one of the least understood and most challenging areas of corporate cash management. The treasury landscape is littered with painful examples of write-downs from highly rated securities
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June 1, 2008
Now into our 18th year of working with treasury managers across the country, it’s as clear as ever that managing risk remains one of the least understood and most challenging areas of corporate cash management. The treasury landscape is littered with painful examples of write-downs from highly rated securities whose
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May 1, 2008
Executive Summary Prior to the recent credit crisis, strong criticism of money market funds taking on too much risk could easily have been dismissed as fear mongering. With strong (but now dubious) triple-A credit ratings, constant $1 per share prices, daily liquidity, strong brand recognition, and deep-pocketed parents, what was
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March 28, 2008
Executive Summary From administering aggressive interest rate cuts to providing longer-term liquidity to financial firms; from accepting non-traditional asset collateral to assisting the Bear Stearns takeover by JPMorgan Chase; this Federal Reserve is unlike any we have seen in recent history. By throwing out the rulebook of central banking, some
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