Cash is not king: unwelcome depositors seek new homes

Companies face more liquidity risk as Basel III prompts banks to reject excess cash

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Cash not welcome: the bizarre world of banking, post-Basel III

In mid-2014, a treasurer at a UK insurance company found himself in an unexpectedly tense conversation with one of the firm's banks, after trying to deposit the proceeds of a share sale – a total of several hundred million pounds.

"The relationship director said, ‘What are you doing? What is this money? Take it out! We don't want it. It's going to cause issues for our half-year reporting," says the firm's head of treasury. "My initial reaction was ‘What are you talking about? You're a bank! This

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