Capital Markets & Investments

Organizations that rely on LIBOR as a benchmark rate for debt and derivatives must prepare for its potential dissolution after 2021. Treasurers need to plan for multiple scenarios, including alternatives such as SOFR, a rehabilitated LIBOR, or a combination of the two. This session provides an update on developments from the Fed and the ARRC committee, along with the steps forward-thinking treasurers are taking to prepare for a smooth transition. Attendees receive an action plan for assessing and mitigating their organization’s exposure to LIBOR unavailability.

The overarching goal in the strategic design, integration and implementation of technology in cash management is operational efficiency ... do it faster, but safer. Utilizing case studies, this session gives insight into how treasury teams drive productive workflow through the alignment of liquidity portals, banks, electronic trading platforms, treasury management systems, consolidated reporting and analytics. In addition, the panelists discuss the attributes of various short-term investment products in addressing their investment objectives of capital preservation, liquidity and yield.

With diverse forces driving dynamic change across the short-term markets, shifting global regulations, and new and innovative product structures in cash investing, 2019 has become more complex. Whether you oversee a mature treasury operation, are a start-up gathering funding, or a firm experiencing episodic change, opportunities abound in going back to the foundations of cash investment management. This session shares unique perspectives for supporting a return to the fundamentals of cash investment in order to achieve business goals and explore new opportunities.

One of the carryovers from the Great Recession is the generous accumulation of balance-sheet cash. The AFP Liquidity Survey has shown a slow decrease in cash as a percentage of short-term investment assets, but cash remains elevated relative to the early 2000s. This panel addresses these questions and compares their concepts of liquidity, how they think about it, its importance in their investment programs, while balancing the need for liquidity with the other pillars of corporate investing.

Corporations are required to use the incremental borrowing rate to discount outstanding lease payments. The fair value of leases must now be recorded on the balance sheet, and noncompliance is not an option under the new ASC 842 and IFRS 16 requirements. Attend this session to discover how treasurers are dealing with this new requirement, and how to implement a consistent approach to determine the fair value of operating leases using the five building blocks. Attendees also gain strategic insight into credit rating and pricing assessments.

Environmental, social and governance (ESG) factors are increasingly important for investment decisions. That’s why Fitch has introduced ESG relevance scores to show relevance and materiality of ESG to ratings. Fitch’s ESG Relevance Scores are integrated into its entity research, transparently displaying the impact of ESG elements on credit opinions across all sectors. This session examines ESG and its increasing importance to the investment community, and how the analysis of ESG factors fits into the bigger picture of credit ratings.

Join this discussion of the Fed’s mandate for conducting monetary policy and how it has impacted the current decision-making process. Hear about the factors behind the Fed’s decision to start cutting rates; the market developments that could avert further rate cuts; economic and financial variables you should keep track of in order better anticipate the emergence of a recession, as well as the lag effect monetary policy has on the economy.

For seasoned corporate treasurers and new investors managing cash portfolios, the principles of safety, liquidity and return remain a constant. This expert panel shares how they measure success, assess performance and risk in their own organizations' cash portfolios, discuss different metrics and applications. Their real-world examples provide attendees with a vision for establishing a foundation of innovative thinking and strategy to leverage resources and technology to meet their organizations’ short- and long-term needs.

A universal directive to all Treasury executives is to optimize investment income with a low risk, high liquidity, investment portfolio that requires a minimum amount of time to manage, account for and audit. This session provides insight into Children’s Mercy Hospital’s successful development of an Investment Policy and structure that achieves this directive. Practitioners learn how to develop, implement and maintain ways to increase investment income in a rising rate environment utilizing a blend of select financial products and with limited time commitment from Treasury Staff.

Many companies pursue strategic acquisitions to grow the business, frequently using public and/or private debt to fund the transaction. To manage the process and craft the credit story in an acquisition treasury and finance professionals need to understand the entire process—from obtaining committed financing to executing the permanent financing. Such knowledge can make a meaningful difference in the company's cost of capital. The treasurer of a public company presents an insightful review of a major acquisition and outlines the critical objectives in managing the process to execute financing, while minimizing cost of capital.

After years in a relatively flat interest rate environment, corporate treasury professionals are challenged to make critically important liquidity decisions amidst rising rates, limited cash flow and changes in tax laws. Panelists examine the key issues corporates face around the investment debt-decision process, maximizing returns on excess funds, the importance of time value of investments concept, evaluating floating rate entities, and managing and forecasting debt over a 12-18-month horizon.

Companies are increasingly focused on incorporating and disclosing ESG (Environmental, Social and Governance) mandates across their businesses, including investments—even cash. Join a recognized expert to discuss the growing body of research that suggests an increasing proportion of market value can be linked to intangible assets like ESG factors. Incorporating moral and ethical motivations into a value-based exercise that considers risk mitigation and long-term growth potential can be the recipe for making a difference in the world—and your bottom line.