Flexibility drives EBRD’s risk strategy
The European Bank for Reconstruction and Development has set up its asset and liability management system to give the supranational institution maximum leverage in both fundraising and lending. Ellen Leander speaks with the bank’s new treasurer, Ayesha Shah
“It’s quite elegant,” says Ayesha Shah, treasurer of the European Bank for Reconstruction and Development (EBRD), based in London. She is talking about the supranational institution’s asset and liability management (ALM) programme: “Libor is basically the transfer price within treasury and within the EBRD as well. We’ve set up a very simple mechanism, but because it is so simple, elegant and flexible, it is actually quite complicated to run.”
Funds – both fixed and floating rate – raised by the
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