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Technical Guidance and Comment
Our knowledge base and the responses we have made to legislative changes within the financial profession are available directly under each Core Element of Treasury (see the left menu for navigation links).
This section provides information on our technical committee and officers, some of the key work we have been involved in, which includes industry surveys, and our most significant briefing notes.
Recent technical updates and guidance
- A Guide To The Loan Market Association Documentation For Investment-Grade BorrowersDownload | 1 Feb 2010
- Bank of England Asset Purchase Facility - Commercial Paper; Working CapitalPage | 31 Jul 2009
- ACT background information on the proposals for regulation of OTC derivativesDownload | 27 Jul 2009
- Transfer pricing and treasury operations - EACT / ACT guidance noteDownload | 1 Jul 2009
- The EU Payment Services Directive (PSD) and the corporate consumerDownload | 1 Jul 2009
- March 2009 update to LMA GuideDownload | 6 May 2009
- Bank of England NIPS Code updatedPage | 6 Apr 2009
- Investing liquid funds – ACT briefing notesPage | 24 Mar 2009 | 1 comments
- Additional IFRS 7 disclosures on investments in debt instruments – urgent preparation neededPage | 14 Jan 2009
- Bank lending markets: observations on 2008 and on the outlook for 2009Download | 7 Jan 2009
Recent policy submissions and responses
- ACT Winter Paper - Paul Fisher presentationPage | 18 Feb 2010
- HM Treasury discussion paper on non-bank lending - ACT responseDownload | 17 Feb 2010
- ACT evidence to House of Lords EU CommitteeDownload | 29 Jan 2010
- Leading European companies unite against proposed derivatives regulationDownload | 6 Jan 2010
- Bank of England consultation on sale of corporate bonds from APF - ACT responseDownload | 16 Dec 2009
- Commission communication on OTC derivatives 20 October 2009 - ACT responseDownload | 27 Oct 2009
- OTC DerivativesPage | 7 Oct 2009
- ED/2009/7 Financial Instruments: Classification and Measurement - ACT response Download | 29 Sep 2009
- Corporate concerns about OTC derivative regulationDownload | 24 Sep 2009
- CEIOPS consultation on long-term liability valuation (CP 40) - ACT response Download | 14 Sep 2009
For more technical updates, guidance and briefing notes, policy submissions and responses see our technical database.
Industry Survey
Credit crisis and the corporate - an ACT report of the findings from a series of in-depth qualitative interviews with over 40 corporate treasurers from non-financial companies within the UK’s top 350 quoted businesses which assesses the financial impact of the recent turmoil in the banking sector on industry.
Policy & Technical Committee and manifesto
The manifesto explains the aims and scope of the ACT’s technical work and the general stance that will be taken by the ACT in formulating and publishing any official views on technical matters.
The work of the policy & technical officers is guided and assisted by the Policy & Technical Committee. Current members of the committee are:
- Mohammed Amin, PricewaterhouseCoopers
- Andrew Balfour, Slaughter and May
- Rupert Beaumont
- Tim Boxell, Slaughter and May
- Sarah-Jane Chilver-Stainer, GlaxoSmithKline
- Alistair Clark, Tesco
- Judith Harris-Jones
- Tim Hayter, Bunzl
- Edward Hoefling, Innovation Consultancy Services
- Stephen Pugh (Chair), Adnams
- Alison Stevens, National Grid
- Yann Umbricht, PricewaterhouseCoopers
- Stanislav Varkalov, Lloyds TSB
- Brian Welch,Rackspace
Technical help
- Technical queries service
The ACT offers a free service which can help you with technical queries you may have. You will have to be registered and logged on to the website to access this service. - Library facilities
The ACT library offers members, students and affiliates access to state-of-the-art services. - Treasury Services Directory
Need to find a partner or service supplier for a treasury product? Try our directory, currently listing over 400 businesses which offer services to the profession. - Treasury Forum
Read the Treasury Forum for up-to-date news and commentary on the issues affecting the world of treasury
Briefing notes and best practice
- Transfer pricing and treasury operations - EACT/ACT guidance note
The rules and practices around transfer pricing are explained in this guide, written jointly be the major treasury associations in Europe. - Investing liquid funds – ACT briefing notes
Two briefing notes which encapsulate the longstanding education material of the ACT and the practical approach of professional treasurers in relation to the risk in investing a company’s liquid funds. - Best practice proposals on cashflow reporting from CRUF
The ACT fully endorses the proposals for improved cashflow reporting from The Corporate Reporting Users’ Forum. - Credit Default Swap based loan pricing
A short note suggesting some points for treasurers to consider before contemplating such a basis for loan pricing. - Contingency planning for a downturn
A treasurer’s checklist to aid your planning in how to cope with a downturn in the economy or sustained lack of liquidity in financial markets and the effects on your company. - UK Faster Payments Service
A short description of the Faster Payments Service starting in May 2008 and consideration of the implications for treasurers. - Share issuance, treasury shares and pre-emption
A brief summary of some of the key legal and regulatory rules around treasury shares and pre-emption together with links to more detailed papers. - LMA Loan Documentation
ACT Guide to the Loan Market Association Documentation for Borrowers. - Syndicated Loan Facilities
Part 1 of this note focuses on non-bank Lenders, and the techniques available to Borrowers wishing to control and manage their syndicate membership. Part 2 focuses on the influence of credit derivatives on syndicated loans. - Letters of Comfort - a practical guide
A briefing note dealing with all the issues to be considered when issuing a letter of comfort, including their legal status. - Market Abuse Directive
A guide for listed companies. - MiFID (Markets in Financial Instruments Directive) for corporate treasurers
An ACT briefing note explaining the key elements of MiFID that are applicable to regulated financial firms and hence how the treasury operations of their customers will be affected. - Guide to the Securities Lending Markets
A guide describing securities lending markets. - Code of Standard Practices for Participants in the Credit Rating Process.
The ACT, AFP and AFTE, with the support of the international grouping of national treasury associations, issued an exposure draft of a ratings industry code of practice. - The Treasurer's Guide to Investing Corporate Cash
This guide, which has been produced by HSBC Investments in collaboration with the ACT, is aimed at treasurers with responsibility for investing the cash of complex, multinational groups.


