Traduction de «Crédits à court terme entre résidents et non-résidents » (Français → Anglais) :

short-term loans between residents and non-residents

short term loans between residents

Short-term Assets and Liabilities with Non-residents (BP-21ST)

swap arrangement

Statement of Amount Paid or Credited to Non-Residents of Canada [ Statement of Amounts Paid or Credited to Non-Residents of Canada (Under paragraphs 212(1)(a) to (g) and subsections 212 (2), (3) and (5) of the Income Tax Act) ]

It annexed thereto various supporting documents, including an invitation letter of 17 December 2003 to tender for consultancy services to draw a business plan for the preparation of the business plan for operation of the short-term export-credit insurance in the industrialised markets (‘the invitation letter’), additional documents prepared by an external consultant regarding potential acquisition of Assicuratrice Edile S.p.A. and the notes presented to the Board of SACE BT in May 2005 — September 2008 regarding various opportunities for international acquisitions and other forms of international expansion.

3. Agrees with the Commission that growth-friendly fiscal consolidation is necessary in order to exit the crisis; recalls that the key element in the relationship between growth and consolidation is the composition of consolidation; stresses in this respect that the appropriate mix of expenditure and revenue side measures is context dependent, however consolidations based on cutting unproductive expenditure rather than on increasing revenue tend to be more lasting and more growth-enhancing in the medium term, but more recessive in t ...[+++]he short term;

15. Recalls that the key element in the relationship between growth and consolidation is the composition of consolidation; stresses that the appropriate mix of expenditure- and revenue-side measures is context-dependent and should be thoroughly assessed; points out in this regard, however, that consolidations based on cutting unproductive expenditure rather than on increasing revenue tend to be more lasting and more growth-enhancing in the medium term, but more recessive in the short term; is of the opinion that consolidation strategies need to mitigate short-term recessive impact while aiming at being growth-enhancing in the medium t ...[+++]erm; believes that the possible negative impact of consolidations in the short run can be mitigated, in particular provided that the measures taken are credible, lasting and avoid a reduction in public investment in productive sectors of the economy;

31. Recognises the important role played by money market funds (MMFs) in the financing of financial institutions in the short run and in allowing for risk diversification; recognises the different role and structure of MMFs based in the EU and the US; recognises that the 2010 ESMA guidelines imposed stricter standards on MMFs (credit quality, maturity of underlying securities and better disclosure to investors); notes, however, that some MMFs, in particular those offering a stable net asset value to investors, are vulnerable to massive runs; stresses, therefore, that additional measures need to be taken to improve the resilience of these funds and to cover the liquidity risk; supports the October 2012 IOSCO final report in its proposed ...[+++] recommendations for the regulation and management of MMFs across jurisdictions; believes that MMFs that offer a stable net asset value (NAV) should be subject to measures designed to reduce the specific risks associated with their stable NAV feature and internalise the costs arising from these risks; considers that regulators should require, where workable, a conversion to floating/variable NAV, or, alternatively, safeguards should be introduced to reinforce stable NAV MMFs’ resilience and ability to face significant redemptions; invites the Commission to submit a review of the UCITS framework, with particular focus on the MMF issue, in the first half of 2013, by requiring MMFs either to adopt a variable asset value with a daily evaluation or, if retaining a constant value, to be obliged to apply for a limited-purpose banking licence and be subject to capital and other prudential requirements; stresses that regulatory arbitrage must be minimised;