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In recent years, there had been a move towards the use of lower-rated and unrated money market and liquidity funds and even structured products as corporate treasurers have sought to increase yield. The assumption, regardless of the risk of a product, was that liquidity would always exist.
“Now liquidity has been proved not to be permanent and there is a reaction to the current market and a move towards bank and time deposits or, at the least, highly rated funds,” says Phillip Lindow, head of global treasury and investment management, transaction banking, at ABN Amro in London.
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