Traduction de «Risque brut » (Français → Anglais) :

For example, an entity that uses a 12-month futures contract against the cash flows associated with 12 months’ worth of interest rate risk exposure on a five-year financial instrument within a group made up of only those financial assets and financial liabilities measures the fair value of the exposure to 12-month interest rate risk on a net basis and the remaining interest rate risk exposure (ie years 2–5) on a gross basis.

Question No. 419 Ms. Kirsty Duncan: With respect to the risk of corrosion and spills and other safety concerns arising from the transport of bitumen in pipelines, and to government action to address these risks: (a) how does diluted bitumen compare with West Texas Intermediate (WTI) in terms of (i) abrasive material content, (ii) acid concentration, (iii) sulphur content, (iv) viscosity; (b) to what extent is diluted bitumen more likely than WTI to cause corrosion or erosion in the pipelines through which they respectively flow; (c) what is the composition of diluted bitumen in Canada; (d) what are all of the volatile chemicals, persi ...[+++]stent organic pollutants or carcinogenic substances present in diluted bitumen in Canada; (e) in the process of diluting bitumen in Canada, what are the (i) natural gas condensates used, (ii) other petroleum products used; (f) what is the process by which diluted bitumen corrodes pipelines, with specific reference to (i) abrasion, (ii) friction, (iii) high pressure, (iv) settling of sediment, (v) velocity, (vi) sulphur-reducing bacteria, (vii) other significant factors; (g) for all proposed or existing National Energy Board (NEB)-regulated pipelines, what is (i) the amount of hard sediment passing through the pipeline annually, (ii) the average pressure, (iii) the average temperature; (h) what, if any, (i) research, (ii) action, (iii) investment has the government undertaken to determine whether diluted bitumen can flow safely through pipelines; (i) what, if any, (i) research, (ii) action, (iii) investment has the government undertaken to determine whether or not conventional crude should be distinguished from diluted bitumen when setting minimum standards for pipelines; (j) what, if any, (i) research, (ii) action, (iii) investment has the government undertaken to design safety and spill responses and spill liability management capabilities that are appropriate specifically to diluted bitumen; (k) how does a diluted bitumen sp ...

The FAO International Standard for Phytosanitary Measures No 15 on Guidelines for regulating wood packaging material in international trade (2) contains phytosanitary measures in respect of movement of wood packaging material in the form of packing cases, crates, drums, pallets, load boards, pallet collars and dunnage, aiming at reducing the risk of introduction and/or spread of quarantine pests associated with wood packaging material, made of coniferous and non-coniferous raw wood, in use in international trade.

For example, it is important that in the future we can calculate poverty rates taking account of the value of imputed rents for homeowners; information on gross income by components should also be improved to allow the calculation of the indicator of poverty risk before social transfers on a gross basis rather than a net one; last, but not least, timeliness of the data must be improved.

(14) Tobacco growing is of historical importance on the islands. Economically speaking, tobacco preparation continues to be one of the chief industrial activities in the region. In social terms, tobacco cultivation is very labour intensive and carried out by small farms. Since the crop is not sufficiently profitable it is in danger of dying out. Tobacco is currently cultivated only on a small area on the island of La Palma, where it is used for the artisanal manufacture of cigars. Spain should therefore be authorised to continue to grant aid in addition to the Community aid so that this traditional crop can be maintained with a view to s ...[+++]upporting the artisanal activity associated with it. In addition, to maintain the manufacture of tobacco products, imports into the Canary Islands of raw and semi-manufactured tobacco should continue to be exempt from customs duty, up to an annual limit of 20000 tonnes of stripped raw tobacco equivalent.

The Directive also includes rules for payment systems which are not based on netting but on gross settlement systems (where each payment order is settled individually on a real time basis as it arises during the day): The proposed Directive would also exempt payment systems from national rules giving retroactive effect to the insolvency of a participant in a payment system, such as the zero-hour rule. Such retroactive effect allows the liquidator of an insolvent institution to challenge payment orders which have already been introduced into the payment system, thus leading to the unwinding of the settlement operation. This unwinding is highly disruptive and can lead to systemic risk ...[+++]. The same is true for revocation of payment orders. Revocation of a large payment order in a payment system during the settlement process, could lead to systemic risk. The Directive would therefore bar revocation of payment orders after the moment contractually fixed by the payment system participants. The insolvency of a participant in a payment system, insofar as it concerned its dealings with the payment system, would be governed by the insolvency law of the country where the payment system was located, according to the proposed Directive. This would avoid conflicts of law and the ensuing legal uncertainty and thus facilitate cross-border participation in payment systems. Collateral security is pledged by the participants in a payment system in order to secure its exposures against the other participants. When collateral security is provided in a cross-border arrangement, its realisation in case of default of the pledging participant can be hindered by conflicts of law which may either weaken the collateral security or even render it unenforceable. In order to ensure collateral security can be realised immediately and in priority over all other creditors (so as not to jeopardise the liquidity of the other participants in the system, i.e. to avoid systemic risk) in the case of a defaul ...