About the Treasury

Treasury overview

The EBRD Treasury is organised into six main business areas combined with a Treasury-wide quantative analytical support unit and market data administrator.

Treasury Organisational chart

The six main units are:

Funding

A variety of products is available to investors, ranging from "plain vanilla" to emerging market currency issues and structured, tailor-made products. The Bank's debt instruments take the form of eurobonds, global bonds and domestic issues in selected markets.

Investments - Credit

The Investments-Credit desk manages the long-term credit portfolio of the Bank. The portfolio is managed with the dual objective of protecting the Bank’s capital and optimising returns on the portfolio within defined market, liquidity and credit risk parameters. In making investments and taking exposures, the Bank is guided by the principle of conservatism, expressed through the credit quality of assets invested.

Hard Currency Balance Sheet Management

The Hard Currency Balance Sheet Management (HCBSM) group is the nexus for the hard currency operations of EBRD’s Treasury. The desk has functional responsibility for the management of all financial hard currency risks to the Bank’s balance sheet. It is organised along three core activities:

  • ALM, manages the interest rate and currency composition of the Bank's balance sheet.
  • Liquid Government bond portfolio management, manages a highly liquid pool of government securities that form part of the liquidity pool of the Bank
  • Cash Management, manages the short dated liquidity of the Bank controlling both CP issuance and the investment in short dated assets.

Local Currency Balance Sheet Management

The Local currency Balance Sheet Management (LCBSM) Group is the nexus for the local currency operations of EBRD’s Treasury. The desk has functional responsibility for the management of all financial risks associated with the Bank’s local currency activities. As such LCBSM manages EBRD's local currency interest-rate, FX and liquidity risks. It is organised along the following four geographical areas:

  • Russian and Ukraine
  • CEE and Turkey
  • Kazakhstan and ETC
  • SEMED

Client Solutions Group

The Client Solutions Group (‘CSG’) is both an advisory and transaction group which focuses on the Bank’s clients across its countries of operations. It provides structuring expertise, advice and execution services on all derivative and debt capital market products. CSG is by definition focused on the provision of prudent, sustainable financing solutions to clients and offers robust financial risk management expertise to the Banking division. The product range includes financial derivatives (FX, interest rate and commodity), debt capital market execution services as well as advising on local currency lending and guarantees.  

Equity Capital Markets

ECM is in charge of the execution of all equity capital market transactions – investments and divestments - undertaken by the Bank. An important part of its function is to provide market intelligence and insight to the Equity Committee and other forums. Working with the Equity and Risk teams, it is involved in the active monitoring and management of the Bank’s listed equity portfolio.