A Világ Bankjegyei


Central-European Treasury Conference

2016. június 3.
Hotel Yacht**** Wellness and Business Siófok

Central-European Treasury Conference
organized by Treasury Club Hungary
20 Years Anniversary of HTC

The Hungarian Treasury Club celebrates its 20th anniversary

130 participants attended the conference

June 3 and 4, 2016 marked a dual anniversary celebration: the 5th Central European Treasury Conference (with representatives from Croatia, the Czech Republic, Hungary, Slovakia and Slovenia) and the 20th anniversary of the Hungarian Treasury Club. Some 130 participants came together for the occasion in Siófok, on the southern shore of Lake Balaton. Jean-Marc Servat, Chair of EACT, started the debates with a presentation of the European association ("Doing better together than alone") and emphasizing the body's role in defending the interests of the profession. He cited the case of EMIR, where non-financial companies account for 73% of users but only 2% of volumes for derivatives.

Three speakers then took the floor, outlining the economic environment in Central Europe. According to Michal Dybula at BNP Paribas, a new period of uncertainty is emerging: the well of EU funding is drying up; the population is growing older; young people are leaving the region, leading to a shortage of qualified workers, particularly in Hungary and Poland; finally, Central Europe is suffering the consequences of the global economic situation (slow growth, emerging economies under strain from dwindling prices of natural resources, etc.). Daniel Palotai, Chief Economist at the Hungarian Central Bank, predicts that inflation, currently close to 0%, may well reach 3% in this country by 2018. In 2016, Hungary's budget deficit is expected to be 2.4% of GDP, the yield on government debt 4% and the debt-to-GDP ratio 42%. He concluded his presentation by mentioning the changes underway regarding the Budapest Interbank offered rate. Like the Euribor and Libor, the Bubor must adjust to new regulatory requirements. Gabor Liener from RZB justified QE and near-zero interest rates, citing weak growth and lack of inflation, as well as public and budgetary deficits.

For the second straight year, in early 2016 BNP Paribas and the Boston Consulting Group conducted a survey among 750 corporate treasurers and CFOs of companies with more than €500 million in sales. Jacques Levet presented the main results of this study: banking products have become standardized, simple, effective and affordable; banks are seen as IT companies (Goldman Sachs even identifies itself as such that happen to hold a banking license); respondents are looking for a platform, a single aggregator independent of banks. The treasurers highlighted two more points: they want their banking partners to enhance their consultancy business, and security is their main concern.

The celebratory atmosphere of the conference was in line with its high-end profile: a cruise on Lake Balaton, a Hungarian wine-tasting event, dancing and lunch at a traditional farm. These two days of talks led to three conclusions:

  • the debates took place in English: in this regard, the battle has been won (or lost, depending on individual points of view);
  • women made up a significant percentage of participants;
  • there were many young participants, with a great atmosphere of camaraderie.

Richard Cordero

Photos of the event


June 3rd

10:00 Opening remarks:
  Tamás Ónody - Chairman of HTC
  Ferenc Kementzey Deputy CEO Raiffeisen Bank
  Didier Mahout Regional head for Central Europe BNP Paribas
10:10 Jean-Marc Servat – Chairman of EACT- ’How EU financial regulation impacts the real economy’
10:40 Michal Dybula – BNP Paribas Analyst - Central European Perspective
11:10 Coffee break
11:30 Dániel Palotai – Chief Economist – Hungarian Central Bank
12:00 Gábor Liener – Head of Treasury - ’Star Wars on the FX Market’
  Currency Wars Liener Gabor
12:30 Lunch
14:00 Jacques Levet - Head of Transaction Banking, EMEACorporate Treasury Insights 2016
  Corporate Treasury Insights 2016
14:15 ’How Does Central Europe think?’ - Panel Discussion, moderated László Haás, Executive Director, EY
  How does Central Europe think
15:15 End of conference
16:00 Boat trip to Balatonfüred on Balaton
20:30 Magic Dinner and live music

June 4th - optional programme

10:30 Siófok guided walk
12:30 Departure for Lunch and archery at a traditional Hungarian (Somogy) cottage - carriage rides to a panoramic tour



During the conference day, you will have the possibility to see and even testdrive some of the latest, state-of-the-art Jaguar and Land Rover models.

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