Treasure finds are considered resolved when the valuation process has been completed, the interested parties waive their right to a reward, the Crown disclaims interest in the case or a case has been deemed not treasure ↩ ↩ 2 Even if the item is found to not be treasure at a later date the discovery is still counted as a treasure find.. ↩

Geographic coverage – National, Regional and county level data for England, Wales and Northern Ireland. This release does not cover Scotland. Capital and liquidity management remains at the heart of the treasurer’s work but,as the coronavirus pandemic recedes, there is a ramp-up across other activities.All this makes the treasurer and their (generally) small treasury team busier thanever. Add geopolitical uncertainty, inflation and interest rate rises into the mix, andtreasurers have to be on high alert. This statistical release presents data on the number of reported treasure finds for 2019 and provisional figures for 2020 within England, Wales and Northern Ireland. A treasure find is when a single or group of items is discovered which contains at least one item that may [footnote 1] meet the legal definition of treasure. Data for 2019 are broken down by county, period, distribution and method of discovery. Figures for 2020 are provisional and are provided by county and region only. Under the Treasure Act 1996, the Secretary of State has the power to disclaim [footnote 8] a find, even when the find meets the definition of treasure under the Act. This can occur at any point in the process, for example, if a museum withdraws its interest in acquiring a find and no other museum expresses an interest.Invest in understanding the as-is state across the operating model. Benchmark key processes and analytics for their effectiveness against peer practices, and use the insights to prioritize improvements. We are able to provide characteristics of the treasure finds from 2020, reporting on the object type discovered, the period of history it originates from, and the number of pieces of treasure museums in the UK were interested in acquiring. A breakdown of the data is not yet available for 2021 as, in line with usual timescales, treasure finds for 2021 had not been finalised and confirmed [footnote 2] at the time of publication. This also means that the data is still provisional and subject to change. The next statistical release (due to be published in November 2023) will cover the characteristics for the 2021 treasure finds. Almost unanimously, most of our respondents have selected liquidity risk management and being a steward for financial risk management as critical mandates. Mandates working capitaloptimisation and enhancing governance and control over global treasury operations has gained more focus by treasury groups since the last time we conducted the survey. The adoption of treasury management technologies in the cloud has increased since we conducted our survey last in 2019. Respondents also share how they have increased the adoption of APIs, automation, andvisualisation technologies to complement treasury management systems (compared to our last survey in 2019). What learnings did organizations have from the pandemic and how are treasury organizations evolving as a result (business continuity, focus, talent, and size)?

Treasury has transitioned from reactive to proactive. For the first time ever, moretreasurers are defining strategy than are simply responding to requests. Boardrelations are stronger than ever. In 2020, by region, the largest number of treasure finds in England, Wales, and Northern Ireland was the East of England with 247 cases (23% of total finds).were donated to museums (44 object cases, 4 coin cases) allowing them to be acquired by museums at no (or reduced) public cost Review client portfolios through a risk-weighted-asset (RWA) efficiency lens. Doing so can help institutions establish or refine RWA limits, set cross-sell targets, eliminate unnecessary open lines of credit, and flag customer relationships that may be too costly to serve. Other potential capital-efficiency improvements include conducting a technical review of RWA measurement techniques, setting up an internal bad bank to separate troubled assets from healthy ones, and employing securitizations.

Embracing agile working practices will be important to help treasury teams avail themselves of these capabilities. Creating interdisciplinary teams, breaking large projects into smaller sprints, and establishing rapid review-and-release cycles are established ways to speed digitization and adoption—especially in ML use-case development. But while 50% of treasury respondents believe agile ways of working deliver higher-quality outputs and cost savings, less than half say their treasury functions use these methods regularly in their projects. Persistence Will Pay Dividends It’s becoming more difficult to recruit and retain staff, and this is likely to intensifyin the short to medium term. However, it looks like hybrid working is here to stay,and this could be an important incentive for current and prospective employees. Proactively monitor the impact of central banks’ digital currencies, and stay on top of distributed ledger technology developments that could potentially disrupt the treasury’s and capital markets’ value chains. I hope everyone interested in treasure will continue to help us build on the successes of the past to make the Treasure Act 1996 even more effective as it embarks on its next quarter-century.Increase operating model efficiency. The following steps can give treasurers the authority and insights they need to improve productivity and cost performance significantly:

Estimates reported for participation in metal detecting are based on data collected in the 2021/22 Participation Survey. The total number of finds which meet the definition for treasure in 2020 was 774. This includes acquired, donated, and disclaimed items. 4.1 Figure 3: Reported treasure finds, by change in ownership: England, Wales and Northern Ireland, 2020 Amongst a plethora of strategies, hedging using financial derivatives has emerged as a key tool to allay macro headwinds. Survey results suggest that 62% of treasurers feel that hedging is moderately to extremely important for them. Meanwhile, on average, one out of three treasurers mentioned that they will increase their notional hedge ratio (Notional amount/ underlying forecasted exposure) in 2022. Furthermore, an important aspect under this function is ‘cash flow forecasting’, wherein treasurers try to forecast future cash positions to proactively plan for any liquidity shortfalls or surpluses.The provisional figure for reported treasure finds in 2021 is 1,079, similar to the final 2020 figure of 1,071. It is the eighth year in a row when reported treasure finds exceeded 1,000. Treasurers frequently deal with risk and are well equipped to handle these difficulties. However, the current economic market will significantly affect some enterprises and, consequently, their treasury units. Here are the key themes that have emerged during the year. Under the Treasure Act 1996, the Secretary of State has the power to disclaim [footnote 8] a find, even when the find meets the definition of treasure under the Act. This can occur at any point in the process e.g. if a museum withdraws its interest in acquiring a find, and no other museum expresses an interest. At the time of publication, the number of finds for 2021 has not been finalised and confirmed [footnote 2]. Therefore, the data for 2021 is provisional and it is not possible to provide a detailed breakdown of factors such as period and change in ownership in this release. As usual, this final breakdown will be provided in the Treasure Finds Statistical Release in 2023 which will cover the treasure finds for 2021 in detail and provisional figures for 2022. Improve interest rate risk management by modeling longer deposit and equity horizons, deploying derivative strategies, and using hedge accounting in cases where the current or forecasted balance sheet capacity may limit the modeled duration.