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  • Corporates
  • Article

    Enhanced management reporting for hedge accounting

    Communicate your hedge accounting program clearly and concisely to stakeholders.

    Category
    Corporates
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    Market Update

    FX volatility continues amidst a tepid economic recovery

    As summer ended, we saw several market and economic headlines that treasury teams should carefully monitor as their organizations plan for 2021. The euro and British pound continued to experience heightened volatility, while the VIX spiked and crude oil broke down following a pretty placid summer.

    Category
    Corporates
    Post Date
    Sep 14, 2020
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    Market Update

    Equities drop sharply off record highs

    Equity markets saw continued growth early in the week, with the Nasdaq and S&P 500 reaching all-time highs on September 2. However, Thursday saw a massive sell-off led by the tech industry, signaling that investors are growing wary of record stock valuations against weak macroeconomic fundamentals.

    Category
    Corporates
    Post Date
    Sep 8, 2020
  • Article

    Is an extend-and-blend strategy the right solution for your interest rate hedging program?

    Following the steep drop in USD interest rates, many swaps became significant liabilities. Companies can consider an extend-and-blend strategy, which reduces their swap rate to lower cash interest expense and extends hedge coverage by several years.

    Category
    Corporates
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    Market Update

    Farewell to the Fed’s Goldilocks approach to inflation targeting

    As we close out summer and brace for cooler weather, the Federal Reserve opened a new chapter on Thursday in its approach to monetary policy. They will shy away from the famed Goldilocks approach to managing inflation and articulated a new way of responding to economic challenges facing our economy.

    Category
    Corporates
    Post Date
    Aug 31, 2020
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    Market Update

    Jobless claims again surpass one million and Fed delays identifying targets

    Volatility is expected as the market reacts to initial jobless claims, consumer confidence numbers, and the Republican National Convention. While existing home sales beat expectations, jobless claims once again exceeded one million and the Fed pushed back the timing of its forward guidance targets.

    Category
    Corporates
    Post Date
    Aug 24, 2020
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    Article

    Managing foreign currency risk: Why some companies hedge more than others

    Chatham Financial’s benchmarking study assessed the risk management practices of U.S. corporations and found that, while FX risk was the second most common type of financial risk faced after interest rate risk, more companies choose to hedge and manage FX risk.

    Category
    Corporates
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    Market Update

    Stocks shine and safe havens lose their luster

    A week that began with confidence that Congress would pass another round of fiscal stimulus provided a catalyst for investors to move from safe havens, like bonds and precious metals, into equities.

    Category
    Corporates
    Post Date
    Aug 17, 2020
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    Webinar

    Strategic Considerations for Cross-Currency Swaps

    Corporations use cross-currency swaps to align their capital structure and mitigate FX risk when financing foreign acquisitions, and to achieve lower effective interest rates. Using case studies, this webinar will cover the fundamentals of cross-currency swaps, including the benefits and challenges.

    Category
    Corporates
    Post Date
    Aug 11, 2020
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    Market Update

    Employment gains while low rates remain

    While the employment data showed optimism, Treasury yields reflect limited expectations of economic growth and inflation. In this low rate environment, corporates continue to employ extend-and-blend structures for previously hedged floating rate debt and forward hedging of future fixed rate debt.

    Category
    Corporates
    Post Date
    Aug 10, 2020
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    Webinar

    Automation and Efficiency in Treasury

    Learn which areas can be optimized through new technology tools and operating workflows. Whether it’s reaching a faster close or creating better integration between different platforms, there are many potential opportunities for treasury management to drive efficiencies.

    Category
    Corporates
    Post Date
    Aug 5, 2020
  • Article

    Designation strategies using simplified documentation could make hedge accounting more complicated

    Companies must understand the facts and circumstances in which documenting and applying a simplified hedge accounting approach is appropriate or risk invalidating the hedging relationship.

    Category
    Corporates
  • webinar thumbnail
    Webinar

    Semiannual Market Update for Corporations

    In this installment of Chatham’s semiannual market update webinar series, we will examine current market conditions, economic drivers and indicators, recent communication from the Fed, and potential strategies corporations can employ to manage financial risk in the current environment.

    Category
    Corporates
    Post Date
    Jul 15, 2020
  • Article

    The true cost of hedging

    Ensuring an effective, compliant hedging program means assessing both visible and hidden costs across all hedging activities, including strategy and pricing, legal and regulatory, and accounting.

    Category
    Corporates
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    Article

    Interest rate swap pricing: pulling back the curtain on syndication

    To choose the best interest rate hedging strategy, understand the pros and cons of derivative syndication as opposed to competitive auctions, direct negotiation and other alternatives.

    Category
    Corporates
  • Guide

    Strategic opportunities under the revised hedge accounting standard

    The new hedge accounting guidance expands the strategies that qualify for hedge accounting and introduces new opportunities for companies to mitigate earnings volatility.

    Category
    Corporates
  • Guide

    ChathamDirect financial risk management platform

    You can run your financial risk management program more quickly, confidently, and cost effectively with ChathamDirect, Chatham's end-to-end SaaS solution.

    Category
    Corporates
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    Article

    COVID-19 impacts on future debt issuances

    Driven by the COVID-19 pandemic, U.S. Treasury rates reached all-time lows. Treasurers can take advantage by swapping floating rate debt to fixed and hedging future debt issuances out as far as two years.

    Category
    Corporates
    Post Date
    Jun 25, 2020
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    Article

    Hedging and COVID-19: 3 key considerations

    Corporations managing financial risk in today's volatile market should consider increasing their fixed-rate debt percentage, adopting enhanced hedge accounting approaches, and addressing rate-floor mismatches.

    Category
    Corporates
    Post Date
    Jun 25, 2020
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    Article

    Reducing the impact of forecast errors

    Forecasts for many companies have significantly changed, therefore impacting both FX and commodity hedging programs, and the accounting for these programs.

    Category
    Corporates
    Post Date
    Jun 25, 2020
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    Article

    Market volatility impacts fuel markets

    The Saudi/Russia price war, coupled with steady declines in consumption, sent prices for crude and products into free fall, which can meaningfully impact fuel hedging programs.

    Category
    Corporates
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    Case Study

    FX hedging for Capital Economics

    A case study of how Chatham advised Capital Economics to optimally hedge the FX exposure from a multi-currency revenue stream and cost base.

    Category
    Corporates
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    Article

    End Users’ challenges in the LIBOR transition

    As markets and regulators plan for the transition from LIBOR to RFRs, end users must recognize the complexity of the challenges they will face during their own LIBOR transition and act quickly to mitigate the impact of those challenges.

    Category
    Corporates
    Post Date
    Jun 4, 2020
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    Article

    Interest rate floors: economic and hedge accounting impacts

    If your refinancing discussions with lenders include considering a change to interest rate floors, you should evaluate the potential hedging and hedge accounting impacts of this transaction.

    Category
    Corporates
    Post Date
    Jun 1, 2020
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