How Treasury Teams Are Managing Cash, Liquidity and Short-Term Investments

Treasury and finance teams are managing liquidity in a market shaped by shifting interest rates, economic uncertainty and emerging payment and investment options. The 2026 AFP Liquidity Survey Report provides a timely look at how organizations are managing cash balances, short-term investments, investment policies and new tools such as stablecoins and tokenized products.

Now in its 21st year, the report includes responses from more than 300 treasury professionals and offers benchmarks on corporate liquidity management, cash investment strategies and treasury policy practices.

The findings underscore a cautious approach to liquidity management amid shifting market dynamics, evidenced by an increase in cash holdings. Organizations continue to prioritize safety, access to cash and disciplined investment policies while carefully evaluating emerging options.

Download the Survey Report: AFP Members can access the Comprehensive Report while Non-members can access the Key Highlights (see form below) or purchase the report for $295.

Explore: Key Findings | What You’ll Learn | Who Is This Report For?

Key Findings

Stablecoins remain in early exploration.
While most organizations are aware of stablecoins and tokenized products, adoption remains limited. Just 1% of organizations are using or piloting them, while 9% are actively exploring their potential.

Cash balances are increasing.
Forty-six percent of organizations increased their U.S. cash balances as of March 2026, up from 38% the previous year.

Investment policies continue to guide liquidity decisions.
Three in four organizations maintain a written investment policy, helping treasury teams manage risk, liquidity and short-term investment decisions.

What You’ll Learn

The report explores how organizations are approaching:

• Corporate liquidity management
• Cash and short-term investment strategies
• U.S. cash balance trends
• Investment policy practices
• Stablecoins and tokenized products
• Risk management and treasury decision-making

Who Is This Report For?

This report is designed for treasury and finance professionals responsible for managing liquidity, cash investments and financial risk. It is especially useful for:

• Treasurers and assistant treasurers looking to benchmark liquidity and short-term investment practices.
• Treasury managers and analysts managing cash balances, investment allocations and liquidity policies.
• CFOs and finance leaders evaluating how market conditions are shaping cash and risk management strategies.
• Corporate finance professionals exploring how stablecoins, tokenized products and emerging payment options may affect treasury operations.
• Organizations reviewing or updating their investment policy, cash management strategy or liquidity framework.

Press Information

Press Release: AFP Survey Finds Stablecoins Remain Peripheral to Liquidity Strategies as Cash Reserves Rise

If you are interested in referencing data from this report in marketing materials, etc. please contact Anissa Holm, Research Manager. 

Contact [email protected] or call 301.907.2862 for more in-depth information, to read the full report or to arrange an interview with AFP Research.

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Questions about this subject

Contact Tom Hunt, CTP, 
AFP's Director of Treasury Practice