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EUROPE'S CORPORATE TREASURERS ARE INCREASINGLY CONCERNED ABOUT CREDIT AND FUNDING - SURVEY REVEALS

EuroFinance, the global leader in cash and treasury management conferences, training and seminars, today announced the results of a survey into the key issues facing Europe's treasurers over the next 12 months. The results indicate European corporate treasurers are increasingly concerned with funding as the credit cycle turns, but that it is still far from being the most pressing item on their agenda.

Conducted between June and August 2007 from over 300 treasury professionals from some of the largest multinational corporations in Europe, the survey provides a reliable overview of the top issues in treasury over the next 12 months. Beyond the credit concerns, the survey covered a range of issues, such as the role of treasury, the treasurer's relationship with the CFO, risk, bank relationships and connectivity.

Despite credit concerns, the number one issue on a treasurer's agenda over the next 12 months will be liquidity management. Additional highlights include:
- Treasury is overwhelmingly undervalued as a partner in the business and would like a lot more acknowledgement. 71% feel treasury is still only viewed as a support function, and not a key partner in strategic decisions
- 77% of respondents admit they still use spreadsheets for some application or another in treasury
- A number of respondents said they were considering swapping their treasury management systems for the treasury modules of ERP systems
- Banking clubs or partnership arrangements are still unpopular
- 72% of companies are currently not preparing for SEPA, largely due to a lack of clear regulatory information

Carolyn Meier, Managing Director at EuroFinance comments, "This survey supports a number of trends that EuroFinance has discovered through its day-to-day research. It is no surprise to see liquidity management topping the agenda, with risk management, in particular FX hedging, coming in a close second. Despite the credit crisis hitting towards the tail end of the survey, 45% of those surveyed still expected credit to tighten in the next 12 months. It would be interesting to see where in the scale treasurers place this issue now," concluded Meier.