Doug Razzano

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IEEE Banking Programs
Doug Razzano Senior Treasury Analyst POCO 13
July 2007 Vancouver, BC, Canada
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Presentation Topics

• Current IEEE banking programs
• Concentration Banking Program
• CB Card Program
• Global banking

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Concentration Banking Program

• Wachovia Bank is IEEEs banking partner
• Provides an USD, interest bearing, business
  checking account
• Local unit retains control of its funds
• No monthly service charges or per-check fees
• Six-month CD rate paid on daily account balance
  (2006 Average Int. Rate 5.25)
• Monthly statements and paid checks are available
  on-line (Statements are also mailed each month by
  the 10th business day)
• Concentration Banking Card Program (CB Card)
  - New in 2007
• Available to US and non-US Operational Units
  - Currently 665 accounts, 489 - US, 176
  non-US

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IEEE Concentration Banking Program - Outside the
USA

• Typically used in conjunction with a local
  account as USD custody account.
• Allows wire transfer capabilities in
  approximately 34 currencies
• - for vendor payments or funding local account
• Streamlines internal account transfers
• (loan repayment, surplus recognition, etc.)
• Allows debit card capabilities.
  (Payment to vendor in local currency using
  the CB Card - current exchange rate
  charged to US Dollar Account)

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Concentration Banking Card Program

• New for 2007
• The CB Card is a Master Card with debit features
  that allows Treasurers to make payments wherever
  Master Card is accepted
• Each transaction is deducted directly from units
  Concentration Bank Account in USD
• All CB Card activity is posted to your statement
  and includes all payment details
• Application and service are coordinated through
  the Procurement Department, which can be
  contacted at procure_at_ieee.org
• Currently 83 Operating Units participating in
  Concentration Banking are also using CB Cards
• - 35 Conferences (16 US and 19 non-US)

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Global Banking

• Partnering with HSBC Bank to look at ways in
  which the bank can provide banking services for
  IEEEs non-US units
• HSBC is one of the worlds largest banks with
  9,700 offices/branches in 77 countries
• Adopting a country by country approach to
  satisfy account opening requirements
• Bank account database team with representation
  from Tax, Accounting, Treasury, Technical
  Activities and Regional Activities has been
  formed
• The goal is to develop one universal bank account
  database
• The database will be used to identify those
  countries with the highest fund balances and/or
  activity to prioritize the implementation of a
  unified global banking strategy

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Global Banking

• HSBC has a strong global presence, however, the
  optimal solution may be to include additional
  regional banking relationships
• Currently, a Canadian Concentration Banking
  program is being explored with JP Morgan/Royal
  Bank of Canada
• Working as a member of the VAT team to implement
  recommended banking configuration

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Contact Information

• Web www.ieee.org/concentration
• Email concentration-banking_at_ieee.org
• Phone [phone]