Chih Chen

In my ALM work, I often describe gap analysis as equal parts art and science. The science is in the data, the cash flow buckets, and the duration calculations. The art is in understanding how real customers behave when the world changes around them. Stablecoins and tokenized deposits are two of those changes that are quietly rewriting the rules of balance sheet management. As we work through the actual mechanics, a complex set of trade-offs emerges. For corporate treasurers, the decision is...

Banks face significant challenges in managing liabilities without contractual maturities—such as demand deposits and savings accounts—due...