Non convertible currencies

G. Utilization of accumulated non convertible

Note 2. Non convertible currencies

Convertible currency deposits 223 993

Decrease in non convertible currencies

Change in non convertible currencies

G. Utilization of accumulated non convertible currencies

Non convertible currency deposits 67 681

Contingent convertible bonds, or cocos, have been proposed as a solution to this problem.

The site also solicited advice on which car to convert.

Table 9. Holdings of accumulated non convertible currencies

Calculation of total health care revenue expenditure (in millions of KM)

Shares and quotas can be transferred, divided and bought or sold.

The Office was in the process of completing its final report, which was expected to be submitted to the General Assembly at its resumed sixtieth session.

This long term project was to be initiated early in 2006.

The Office identified specific risk areas by carrying out a risk management review when compiling the audit workplan.

Bank reserves were in silver coins, and banknotes were convertible solely into silver.

Schedule 2.2 Environment Fund non convertible cash and bank deposits as at 31 December 1993 . 33

The regular resources cash balance at the end of 2004 was 329 million, consisting of 318 million in convertible currencies and 11 million in non convertible currencies.

The Department agreed with the Board's recommendation to assess the impact of using 300 series contracts as the primary instrument for the appointment of new staff in peacekeeping missions.

In addition, 1.5 million was provided for

It also includes losses on exchange from devaluation of holdings in non convertible currencies.

Table 5 shows details of the United States dollar equivalent of non convertible currencies held at 31 December 2004.

Adding cocos to government bonds will require solving a host of technical problems.

With the establishment of fully convertible currencies in the Baltic States, money laundering is another growing problem and a threat to monetary stability.

UNDP holdings of accumulated non convertible currencies decreased, as is explained in section I.G below.

If this accumulation continues, the currency will be officially added to the list of accumulating non convertible currencies in future reports.

Note 9. Non convertible currencies pending United States dollar credit from UNDP

During the period 1980 91, exports (at current prices) in both convertible and non convertible currencies represented on average approximately 17 per cent of GDP.

The available balance (excluding unpaid pledges) that remained in the Trust Fund as at 30 June 1994 amounted to 292,345 in convertible and 13,300 in non convertible currencies (at official rates as at 30 June 1994).

During 1992, the currencies of Albania, Bulgaria, Czechoslovakia, Romania, and the Commonwealth of Independent States were removed from the list of accumulating non convertible currencies.

(Convertible and non convertible currency)

In fact, the success of banks in issuing cocos suggests that investors do have the appetite for them.

There would be worries that adding cocos to sovereign bonds might raise governments borrowing costs.

Unsustainable private debt problems must be resolved by defaults, debt reductions, and conversion of debt into equity.

Version 2 In view of the multilateral nature of the Programme, non recipient donor countries which make their voluntary contributions wholly or partly in their national non convertible currencies are requested to pay, if possible, a gradually increasing share of their contributions in convertible currencies.

depreciation of nonconvertible currencies. In 2004, the amount written off plus the adjustment for overvaluation of cash held in nonconvertible currencies totalled 2.7 million.

1. (Para. 17) Disclosure of (a) funds held in non convertible currencies (b) financial reserve (c) inventory value of non expendable property

Investors naturally respond to unsustainable debt by selling bonds until interest rates become ridiculous.

Select the target format for the conversion

When a bank s capital falls below a pre specified limit, its cocos automatically convert from debt to equity at a fraction of their previous price.

Finally, solvency rules should be complemented by an obligation that banks issue a substantial amount of non collateralized debt on the order of 100 of their capital that is convertible into equity.

Sovereign cocos have the advantage that their activation would not constitute a credit event triggering the credit default swaps written on the bonds. The existence of large quantities of CDS, together with uncertainty about who has written them, has fed the reluctance to proceed with restructuring.

This ticket is not transferable.

Expendable and non expendable property