This year’s survey was open from 1 July to 7 October 2008. Once again we received a high number of responses, with 314 treasurers from around the world providing their feedback. While the survey began its history with a heavy UK bias, it has now become a truly global mouthpiece for the opinions of corporate treasurers. This year an impressive spread of respondents covered a wide range of regions and markets, from China to South America. This focus on international responses helps to make the J.P. Morgan Global Cash Management Survey a truly global barometer of cash management trends.
However, most respondents completed the survey before the dramatic events in the banking sector in mid-September. Nonetheless, we found that responses reflected marked changes in the attitudes and expectations of treasurers, as turmoil in global credit markets and the developing banking crisis contributed to rising risk aversion. If the survey was conducted again now, we could perhaps expect these changes to be even more pronounced.