Essential reading for finance and treasury professionals. Since the first edition in 1992, the use of liquidity instruments and, in particular, interest rate hedging has developed considerably. This book provides a clear and concise guide designed to illustrate the fundamental issues in liquidity management and set them in an overall business context. It addresses key questions such as: how does liquidity arise; forecasting liquidity; managing uncertainty; managing the bank; interest rate risk; interest rate hedging; and, control mechanisms. An essential read for treasury students and non-financial executives.