The present PRSP (or EBRP) of the Government of Bolivia represents a further step in a continuing effort by the government to reduce poverty through stable growth and policy actions targeted to the poor. The strategy places emphasis on reaching out to excluded groups, and increasing the effectiveness and efficiency of institutions in the public sector.
Despite its large vulnerabilities, Lebanon has so far weathered the global financial crisis and succeeded in maintaining financial stability, raising international reserves, and reducing public debt in 2008. The economy achieved record growth, and Eurobond spreads are now lower than the emerging market average. Fund engagement in Lebanon through the EPCA (which was broadly on track at end-December) has contributed to this performance. Lower global liquidity and the world economic downturn, particularly in the Gulf, will likely affect Lebanon in 2009, with lower growth and deposit inflows.
The world’s leading provider of products and services for the management of catastrophe
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Monetary Authority of Singapore Industry Consultation on Amendments to Section 29 of The Banking Act
Section 29(1)(a) of the Banking Act limits credit facilities2 granted by a bank to any one person, or group of persons under the control or influence of any one person, to 25% of its capital funds, while section 29(1)(b) limits substantial loans to 50% of total credit facilities. These sections seek to limit large risk concentrations, and hence the maximum possible loss arising from the failure of a single counterparty or group of related counterparties. However, the existing approach sets limits only on the amount of credit facilities granted by a bank. It does not capture all of a bank’s exposures to a counterparty that could lead to losses to the bank, e.g. from the diminution in value of equity investments, or from the cost of replacing off-balance sheet transactions, in the event that the counterparty fails.
Table of equivalent classification markings in various countries throughout the globe.
TALF – Overview
Term Asset-Backed Securities Loan Facility (TALF)
* Announced November 25, 2008
* The government’s objective is to lend up to $1 trillion to revive the Asset Backed Securities (ABS) market and consumer lending
* On March 3rd, the Federal Reserve announced it is prepared to expand eligible collateral to include newly issued AAA CMBS collateral (“TALF 2.0”)
* On March 23rd, further expansion plans announced, to include “legacy” AAA-rated RMBS / CMBS as eligible collateral (“TALF 3.0”)
* TALF was officially launched on March 17th
* TALF will stop lending on December 31st, 2009
Clearing Member Eligibility
•Swap Portfolio minimum size of USD1 trillion
•Minimum capital USD5 billion in Clearing Entity or in Parent providing Guarantee
•Credit Rating single A or better
•Margin multipliers applied if existing member downgraded below A
•Compulsory participation in Default Management Process
• Enforce all the laws of the State of Colorado.
• Direct, control and regulate motor vehicle traffic on public roadways.
• Inspect vehicles for safety-related equipment violations.
• Provide community education and administer safety programs to the public.
• Perform criminal interdiction on Colorado highways, focusing on the transport of illegal drugs.
• Assist in state homeland security efforts.
In this changing world today we need to act globally. The XXI century world which is emerging is already being shaped by global players. Our present well-being and common wealth for which our previous generation worked so hard are at stake. To confront the unprecedented challenges that we are facing today on our planet we need to pull our resources and our determination together more than ever before. Only by acting together within the framework of our European Union will we be able to play a leading role and exercise an influence on major issues.
The revision of the existing Lisbon Strategy will be a key priority for the three Presidencies. On the basis of the Commission’s Strategic Report on the evaluation of the Lisbon Strategy, the Commission’s proposal for the post-2010 strategy, and taking into account in this work the report of the Reflection Group headed by Felipe González as well as the contribution of the European Parliament and the consultative bodies (EESC, CoR), the three Presidencies will establish a framework in order to deliver on the challenges that matter most to Europe’s citizens. In line with the Commission’s communication for the Spring European Council 2009 “Driving European recovery” and the European Council conclusions of 18-19 March 2009 and their implementation, the new Strategy will be prepared and launched during the 18 months of our three Presidencies. This focused policy framework will address the future economic, employment, social, environmental challenges and set realistic common targets for the post 2010 Strategy with special attention to growth and jobs.
The scope of PLO/PA authority in the field of trade policy and therefore in trade relations with third parties is circumscribed by the terms of the Interim Agreement, signed by the PLO/Israel in Washington on September 28, 1995. (1) The relevant parts of the Agreement which together form the legal basis for the PA’s relations with third parties are found at Article IX and in the Economic Protocol at Annex V. (The Economic Protocol, which defines the Israeli-PLO/PA economic relationship, was signed in Paris on April 29, 1994 and subsequently incorporated with modifications in the Interim Agreement as Annex V.)
Palestine lies on the western edge of the Asian continent and on the eastern extremity of the Mediterranean Sea. Its territory comprises two parts – the West Bank, a landlocked area bordered by Israel and Jordan, and the Gaza Strip, bordered by Israel, Egypt and the Mediterranean Sea. It covers an approximate area of 6,165 km2 (5,800 km2 in the West Bank and 365 km2 in the Gaza Strip).
The law of the World Trade Organization affects trade policy of Palestine in manifold ways, whether or not it is a member, due to its close relationship with the economies of present and future members of the WTO. The application of rules of the WTO will reinforce trade policy of the P.A. in the region. It will offer the P.A. adequate rights and means of dispute settlement under the umbrella of international surveillance and monitoring.
African Development Bank Group Strategy for the Prevention of Money Laundering and Terrorist Financing in Africa
The international community is concerned with the growing incidence of organized crime, corruption, and terrorism and the debilitating effect these problems have on peace, security and development. A successful strategy to address these international threats necessarily involves measures to address money laundering and the financing of terrorism (ML/FT).
In this note we consider two headline points in relation to Landsbanki Island hf: (1) the responsibility of the Icelandic Government in respect of its obligations to the Icesave depositors under Directive 94/19/EC (the “Directive”); and (2) the Landsbanki Freezing Order in place in relation to the London Branch Assets.
Several confidential documents have been discovered on the website of the Icelandic government providing insight into the bizarre legal tactics used by European governments during the recent financial crisis which led to the country’s economic collapse. Each document is a different analysis of the legal arguments behind the so-called “Icesave dispute”, in which the United Kingdom, the Netherlands, and other European governments attempted to force the Icelandic government to repay the debts created by private banking institutions outside their own country.
The Directive sets an obligation to pay depositors at least 20.000 EUR when deposits become unavailable, i.e. when the relevant national authority has determined that the credit institution concerned is unable to repay the deposits. The Directive does not preclude provisions which offer a higher or more comprehensive cover for deposits, provided that this cover is applied to aggregate deposits, irrespective of the location within the EEA.