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In our “2020 Cash Management Survey,” conducted this autumn, Treasury & Risk asked readers where their company holds cash and short-term investments. Survey respondents were mostly treasury professionals (51 percent) or finance managers (36 percent), and a majority hailed from companies with more than $1 billion in revenue.

Overall, the survey results are not terribly surprising. More than a quarter of respondents (26 percent) hold all their cash and short-term investments in bank deposits, including CDs and time deposits. Another 26 percent hold at least half their cash in bank deposits. What is a bit surprising about this data is that the proportion of companies with at least half their cash in bank vehicles is down 21 percent compared with 2019—and 18 percent of respondents said their company holds no cash at all in bank deposits.

Treasury bills experienced a similar decline in popularity, with the proportion of companies that hold no T-bills at all rising from 72 percent in 2019 to 84 percent this year, and the proportion of companies storing some, but less than half, their cash in T-bills falling from 26 percent in 2019 to 13 percent now.

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Meg Waters

Meg Waters is the editor in chief of Treasury & Risk. She is the former editor in chief of BPM Magazine and the former managing editor of Business Finance.

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