From the November 2009 issue of Treasury & Risk magazine

Silver AHA Winner in Cash Management

Honeywell overcame another obstacle to effective liquidity management in China by creating a first-of-its-kind pooled account for its U.S. dollar cash balances in that country.

The USD cash pool complements a pool created earlier for its growing renminbi cash balances in China. By partnering with Citigroup, Honeywell was able to move 60% of its U.S. dollar cash into the pool. Today, USD balances in the cash pool are earning competitive USD Libor-linked rates, making the money more productive than when much of it was scattered and earning only regulated interest rates.


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