For almost four decades, corporate treasury teams across the world operated with a degree of confidence that interest rates, while cyclical, broadly followed a predictable economic playbook. The post-1980s era of globalisation, central bank credibility and relatively stable inflation created an environment where treasury decisions around borrowing, debt maturity and liquidity could be made with…
For years after the global financial crisis, liquidity regulation became one of the defining pillars of banking resilience. Regulatory reforms strengthened capital buffers, introduced liquidity coverage ratios and pushed banks globally towards more conservative funding structures. Many institutions entered the post-pandemic period believing that liquidity frameworks were materially stronger than they had been a decade…
Liquidity risk has re-emerged as the defining challenge for corporate treasurers worldwide. In global surveys, it consistently ranks as the No. 1 concern, ahead of FX volatility, cyber incidents and counterparty risk. Elevated interest rates have sharpened the cost of holding excess cash, while vulnerabilities in banking systems across the US, Europe and parts of…
