RT Journal Article SR Electronic T1 Central Treasury Challenges and Solutions JF Special Issues FD Institutional Investor Journals SP 39 OP 43 VO 2001 IS 1 A1 Peter B. Marshall YR 2001 UL https://pm-research.com/content/2001/1/39.abstract AB While FAS 133 creates significant hurdles for treasury centers, it also strengthens the value proposition for their use. Treasury centers continue to be one of the best vehicles for increasing efficiency, reducing costs, and minimizing the operational risk associated with most third-party financial intermediation, such as corporate hedging, funding, investing, liquidity management, and other activities related to maintaining the corporate capital structure. Centralizing these activities within entities with knowledgeable professionals, defined processes, and systems significantly reduces the potential for unpleasant FAS 133 surprises. Treasury centers are also an excellent means of delivering financial expertise and innovative services to business units, thereby enhancing the units' competitive advantage in the global marketplace. Given all these benefits, corporations should provide their financial professionals with the encouragement and resources to think “outside the box” and develop FAS 133–compliant hedging approaches that continue to leverage their treasury centers.