Impact of Regulation on Transaction Services for Bay Area Companies Headlines Meeting of AT30
October 05 2015 - 1:00PM
Business Wire
Treasury Leaders Discussed How Cash, Payment,
Funding and Other Critical Banking Services Are Changing With the
New Regulatory Environment and Amid Recent Market Turmoil
In conjunction with The NeuGroup’s Assistant Treasurers’ Group
of Thirty (AT30) meeting that took place September 29-30, Bank of
America Merrill Lynch shared experiences and best practices about
working through these changes with treasury leadership from several
Bay Area corporations.
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20151005006419/en/
Large corporates the world over are working with their key
banking partners to secure a continuity of key treasury services as
market participants adapt to new regulations. Compounding the
challenge is that Dodd-Frank, Basel III and a host of other
regulatory initiatives are being implemented at a time of
unprecedented central bank policy change and, as a result, volatile
global financial conditions. This puts additional pressure on
global companies from all industries to ensure they have adequately
prepared for the most extreme scenarios of changes to the global
finance climate.
“In this unprecedented period, companies should be working with
their banking providers to request the necessary services and
expertise that will help them navigate the changing regulatory
landscape,” notes Liz Minick, head of Global Corporate Sales in
Global Transaction Services (GTS) at Bank of America Merrill
Lynch.
Bank of America Merrill Lynch is thus working with companies to
educate them about the importance of investment policies to help
prepare them for changes in managing their liquidity reserves.
Minick added that events such as AT30 “are a critical forum where
we can deepen the conversation, and explore in detail the concerns
that our clients have with regards to their global cash
management.”
“Banks that do a good job of educating their customers about the
known and potential impacts of today’s regulatory and monetary
policy environment, while making any necessary transitions less
painful, will win out in the long run,” notes Joseph Neu, founder
and CEO of The NeuGroup.
Members of the AT30 will be leading their companies through the
needed treasury operations changes, as well as the tactical
positioning for funding and capital structure that will help
mitigate the impact of a changing global financial landscape.
Given the uncertainty created by changing monetary policies and
financial market conditions, capital raising was also a vital topic
discussed at the AT30 meeting. “Shifts in best practice for bond
issuance, CP, as well as bank financing are something companies
should monitor proactively,” notes Jeff Rothman, head of
Technology, Media and Telecom Corporate Banking at Bank of America
Merrill Lynch.
Bank of America Merrill Lynch and The NeuGroup appreciated the
opportunity to discuss these topics and AT30 companies’ responses
to the recent financial market volatility at the September
event.
The NeuGroupFor more than two decades, The NeuGroup has been a
trusted thought leader and respected advocate for global finance
and treasury professionals. The NeuGroup is the leader in peer
knowledge exchange and intelligence for treasurers through its
flagship publication, iTreasurer, NeuGroup Research and The
NeuGroup Network of 18 invitation-only membership peer groups
serving more than 350 treasury and finance professionals at the
world’s top companies. Through benchmarking and surveys of the
member peers, The NeuGroup Research has unprecedented access to the
data, trends and thoughts of the world’s leading treasury
professionals.www.neugroup.com
Bank of AmericaBank of America is one of the world's largest
financial institutions, serving individual consumers, small- and
middle-market businesses and large corporations with a full range
of banking, investing, asset management and other financial and
risk management products and services. The company provides
unmatched convenience in the United States, serving approximately
48 million consumer and small business relationships with
approximately 4,800 retail banking offices and approximately 16,000
ATMs and award-winning online banking with 31 million active users
and approximately 18 million mobile users. Bank of America is among
the world's leading wealth management companies and is a global
leader in corporate and investment banking and trading across a
broad range of asset classes, serving corporations, governments,
institutions and individuals around the world. Bank of America
offers industry-leading support to approximately 3 million small
business owners through a suite of innovative, easy-to-use online
products and services. The company serves clients through
operations in all 50 states, the District of Columbia, the U.S.
Virgin Islands, Puerto Rico and more than 35 countries. Bank of
America Corporation stock (NYSE: BAC) is listed on the New York
Stock Exchange.
Bank of America Merrill Lynch is the marketing name for the
global banking and global markets businesses of Bank of America
Corporation. Lending, derivatives, and other commercial banking
activities are performed globally by banking affiliates of Bank of
America Corporation, including Bank of America, N.A., member FDIC.
Securities, strategic advisory, and other investment banking
activities are performed globally by investment banking affiliates
of Bank of America Corporation (“Investment Banking Affiliates”),
including, in the United States, Merrill Lynch, Pierce, Fenner
& Smith Incorporated and Merrill Lynch Professional Clearing
Corp., all of which are registered broker-dealers and members of
SIPC, and, in other jurisdictions, by locally registered entities.
Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill
Lynch Professional Clearing Corp. are registered as futures
commission merchants with the CFTC and are members of the NFA.
Investment products offered by Investment Banking Affiliates: Are
Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed.
Copyright 2015 Bank of America Corporation. All rights reserved.
Bank of America, Merrill Lynch, Broadcort and their logos are
trademarks of Bank of America Corporation and/or its
affiliates.
Visit the Bank of America newsroom for more Bank of America
news.
www.bankofamerica.com
View source
version on businesswire.com: http://www.businesswire.com/news/home/20151005006419/en/
Reporters May Contact:Louise Hennessy, Bank of America Merrill
Lynch, + 1.415.913.3641louise.hennessy@bankofamerica.comMary
Katherine Moore, The NeuGroup,
+1.334.514.7106mkmoore@neugroup.com
Bank of America (NYSE:BAC)
Historical Stock Chart
From Mar 2024 to Apr 2024
Bank of America (NYSE:BAC)
Historical Stock Chart
From Apr 2023 to Apr 2024