...The Financial and Banking System of: Argentina Presented In Partial Fulfillments of the Course Requirements for FIN 4634 International Banking Prepared for: Marcos A. Kerbel Participating Adjunct Professor Department of Finance & Real Estate Florida International University Miami, Florida Prepared by: 11/30/2014 November/30/ 2014 The Financial and Banking System of: Argentina I. Table of Contents 2 II. Geography 4 III. History of the Country 6 IV. The Country's Financial System a. Historical Overview 10 b. Present Monetary Laws and Regulations 11 c. Types of Financial Institutions operating in the country 12 d. The Central Bank 12-13 e. Bank Regulation 13 f. Commercial Banks Operating in the country 15 1. Commercial 15-16 2. Savings & Mortgage Banks 17 3. Other Financial firms 17 V. Country’s Balance of Payment and Balance of Trade- Principal Sources of Exports, Imports, investments, and funds transfers, etc. 18 VI. Foreign Reserves 19 VII. Current Situation of the country's currency 20 VIII. Risk those banks in the selected country face- such Currency, Political, Regulatory, Crime, etc. 20 IX. What is the Country doing about Preventing, Detecting and Eradicating Money Laundering and Terrorist Financing? 21 X. Important Bank Failures and Scandals...
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...April 2014 Eli Talmor Luiz Henrique Spinardi Campos Steven Stolk Cetip and Advent International: Private Equity in Brazil It was a typically balmy summer afternoon on 9 March 2012 on busy Faria Lima in São Paulo, Brazil. Patrice Etlin and Mario Malta of Advent International, a global private equity firm, were meeting a former colleague, Martin Escobari, for lunch (see Exhibit 1 for bios). The conversation between them soon turned to the recent stock price performance of Cetip SA, Brazil’s largest custodian for private debt, and an investment they had worked on together for Advent. The stock had traded at R$33 per share throughout the day, well above the R$25.50 for which Advent had sold its remaining stake to IntercontinentalExchange (ICE) only nine months previously. Advent had first contacted Cetip in early 2007, before the outbreak of the global financial crisis, seeking to acquire a stake in the company. Two years later, following a failed IPO and having fended off competition from several other private equity players, Advent completed its investment. During its two years of ownership, Advent helped Cetip in its transition from a non-profit mutual organisation, with more than 600 financial institutions as members, into a listed business with a strong growth profile. Following its demutualisation in 2008, the company reinforced its management team, implemented best-practice corporate governance, instilled a culture of innovation and performance improvement and subsequently...
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...www.uncsd2012.org RIO+20 Issues Briefs Produced by the UNCSD Secretariat and UNCTAD March 2011 No. 1 Trade and Green Economy 1. Introduction The potential trade risks of a transition to a green economy — protectionism, conditionality, subsidies — are issues of long standing and not unique to the green economy. The urgency of the global challenges which a green economy transformation is intended to address, and the scale of the actions being taken by many countries to build green economies, does however bring renewed focus to these risks. At the same time, the new greening of markets associated with a green economy may provide opportunities for many developing countries to find global markets for goods and services with low environmental impacts. This will, however, test the supply capacities of developing countries as reflected, for example, in domestic trade infrastructure. The green economy offers an opportunity to improve both global trade governance and the domestic trade environment to ensure that trade contributes positively to a green economy in the context of sustainable development and poverty eradication. 4) Unilateral policy measures: Many countries seem committed to the use of trade measures to persuade other countries to change their domestic environmental practices, despite the fact that many measures may be contrary to GATT-WTO rules (see Table 1 and discussion). 5) International environmental, climate change agreements/conventions: The outcome of negotiations...
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...TRANSPORT INFRASTRUCTURE IN BRAZIL AND THE CONSEQUENCES OF DEVELOPMENT FAILURE 5335 Wisconsin Ave NW Suite 440 Washington, DC 20015 tel 202.274.1830 fax 202.274.1831 James Gregoire Copyright © February 2011 www.nexusinfrastructure.com Transport Infrastructure In Brazil and the Consequences of Development Failure CONTENTS ABSTRACT .........................................................................................................................................................1 I. INTRODUCTION .......................................................................................................................................1 A. Airports ................................................................................................................................................4 B. Roadways .............................................................................................................................................5 C. Rail ..........................................................................................................................................................7 D. Ports ......................................................................................................................................................8 E. Summary .............................................................................................................................................9 III. SPECIAL FACTORS ..................................
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...Question 5. Find at least three countries or economies that have housing policies or measures to stabilize the housing markets. Provide your views or suggestions on the best measure to stabilize the housing markets that could be considered or used in Melbourne. In 2013, Melbourne’s population was 4.3 million. By the year 2030 Melbourne’s population is set to reach 6 million and by 2051 the population will jump to 7.8 million. With population growth of this magnitude the demand on housing will undoubtedly increase. In 2014, in his opening remarks at the Bundesbank/German Research Foundation/IMF Conference, Mr Min Zhu, Deputy Director of the International Monetary Fund (IMF) stated remarked: “Housing booms have different characteristics across countries and time periods. What is common is that when the bust comes, it very often damages financial stability and the real economy. The tools for containing housing booms are still being developed. The evidence on their effectiveness is only just starting to accumulate. The interactions of various policy tools can be complex. But all this should not be an excuse for inaction. The interlocking use of multiple tools might overcome the shortcomings of any single policy tool.” Indeed, as there are no magic bullets to ensure a stable housing market, it is prudent to therefore to review differing policies that are currently used by other countries to help stabilize their housing markets. In the paragraphs bellows are housing...
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...APRIL 2007 Doing Business in Brazil ERNST & YOUNG DOING BUSINESS IN BRAZIL CONTENT SUMMARY B7 - Essential Industries .................................................. 13 B8 - Energy and Natural Resources ............................. 13 A B9 - Foreign Trade ............................................................... 13 Trade Balance ............................................................... 13 Exports and Imports ..................................................... 13 Trading Partners ........................................................... 14 A1 - Regulatory Constraints and Relief ........................ 6 Regional and International Trading Associations ........ 14 Exchange Background ................................................... 6 Exchange Controls ........................................................ 6 Foreign Ownership of Business .................................... 6 Foreign Ownership of Real State .................................. 6 A2 - Government Attitude and Incentives ................... 7 C Government Attitude to Foreign Investment ................. 7 Foreign Investment Government Financial Incentives .................................. 7 A3 - Tax System ..................................................................... 7 C1 - Exchange Controls .................................................... 14 Remittance of Dividends and Profits ........................... 14 Corporate Income Tax...
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...Samsung Electronics Contents Overview Business Units Corporate Vision Performance Indicators Brand Excellence Corporate Citizenship 2 Overview 3 History 1972 Production of B/W TV sets began 1992 Company ranked world’s top DRAM supplier 1969 Company established 1980 Korea TelecommunicationsCorp. acquired 1995 TFT-LCD mass production began 1974 Wafer fabrication started 1988 Samsung Semiconductor & Telecommunications merged with Samsung Electronics Co. 1994 256Mb DRAM developed 1996 CDMA cellular services commercialized 1995 - 2009 SAMSUNG. All rights reserved. | 4 History 2004 S-LCD Corp., LCD joint venture with Sony established World’s 1st to develop and demonstrate Mobile WiMAX 2003 Company became leader in flash memory 2006 World’s 1st Blu-ray Player launched Provides world’s 1st Solid State Drive for PC applications 2009 Reorganized into stand-alone business units 1997 Worldwide Olympic Partner contract signed 1999 World’s 1st to offer full line-up of digital TVs Developed watch phone, MP3 phone and TV phone 2005 World’s 1st Satellite and Terrestrial DMB terminals launched World’s 1st 102”PDP TV, 82”LCD TV, and 71” DLP™ TV developed 2010 ~ 2011 Acquired Samsung Digital Imaging Co. Announced investment in medical devices business 1995 - 2009 SAMSUNG. All rights reserved. | 5 Global Network 68 Countries January 2011 Manufacturing Subsidiaries Sales...
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...EFInA: EVALUATION OF AGENT BANKING MODELS IN DIFFERENT COUNTRIES Oxford Policy Management Ltd October 2011 Evaluation of Agent Banking Models in different countries ii Oxford Policy Management Evaluation of Agent Banking Models in different countries Table of contents Table of contents Abbreviations Executive summary Agent banking regulation and impact Permissible agent activities Volume and value of different types of activities Introduction 1 1.1 Analysis of agent banking regulations Colombia 1.1.1 Background & implementation of regulations 1.1.2 Definition of agent, approval by the regulator & types of entities that can be agents 1.1.3 Rules governing exclusivity/non-exclusivity of agents 1.1.4 Permissible activities 1.1.5 Roles and responsibilities & minimum standards 1.1.6 Typical remuneration structure Brazil 1.2.1 1.2.2 1.2.3 1.2.4 1.2.5 1.2.6 Peru 1.3.1 1.3.2 1.3.3 1.3.4 1.3.5 1.3.6 Kenya 1.4.1 1.4.2 1.4.3 1.4.4 1.4.5 1.4.6 India 1.5.1 i iv vi viii x xi 1 3 3 3 4 4 4 5 6 1.2 6 Background & implementation of regulations 6 Definition of agent, approval by the regulator & types of entities that can be agents 7 Rules governing exclusivity/non-exclusivity of agents 7 Permissible activities 8 Roles and responsibilities & minimum standards 8 Typical remuneration structure 9 9 Background & implementation of regulations 9 Definition of agent, approval by the regulator & types of entities that can be agents10 Rules governing exclusivity/non-exclusivity of agents 10 Permissible...
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...former CEO, Juan Rodríguez Inciarte. Salarich’s job would be to chart the way forward for the next ten years. While the United States remained the largest market in the world for consumer finance, the sector had also been growing in the last 20 years within Europe. Inciarte had captured this trend. Under his helm (2002-2008) SCF had grown from a small group of units operating in Spain, Germany and Italy, into one of the largest consumer finance companies. Also, since 2006, Inciarte had invested outside the EU: in the United States, Latin America and Eastern Europe. In four months, Salarich would have to present a new strategy and direction for SCF to Santander’s Chairman and Executive Director, Emilio Botín-Sanz de Sautuola y García de los Ríos, as well as to the other members of the group’s Executive Committee, including Inciarte himself. Important decisions had to be made. Could the high profitability of the consumer lending activities be sustained? Was it time to focus more attention on consolidation, or should she further invest in new markets and...
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...Holding Data Analysis H. Camilla Stenström* Jessica J. Thorell** Abstract: This paper investigates the performance of regular mutual funds compared to Socially Responsible Investment (SRI) mutual funds, over the time period of January 2001 to September 2007. The paper extends the research on the performance of SRI funds by using holding data of regular funds to create replicating portfolios. In the replicating portfolios, unethical investments are excluded according to a norm-based screening list, hence creating artificial SRI funds. The replicating portfolio returns are then used as a benchmark to compare against the SRI funds’ and regular funds’ returns. Results from the study indicate that an exclusion of companies according to norm-based screening can improve a fund’s performance. However, when looking specifically at the fund management of SRI funds, the results point towards inferior performance compared to regular funds. Key Words: Socially Responsible Investment (SRI) funds, ethical investments, holding data analysis, norm-based screening PhD Stefan Engström 13:15-15:00, December 14, 2007 Room 349, Stockholm School of Economics Tutor: Presentation: Venue: * 19873@student.hhs.se ** 19924@student.hhs.se H.C. Stenström and J.J. Thorell ACKNOWLEDGEMENTS Special thanks to tutor PhD Stefan Engström for all support and guidance. Thank you for providing your time and expertise to make this study possible. Daniel Berglund, SSE Alumni Ida Bohman, Banco Fonder Emma...
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...UNIVERSIDAD SAN FRANCISCO DE QUITO Colegio De Administración Análisis de Riesgo del Mercado de Valores del Ecuador: Riesgo de Mercado y Riesgo de Crédito de las obligaciones y titularizaciones de los títulos de renta fija Jorge Palomeque Tamayo Jorge Moncayo Lara, MBA., Director de Tesis Tesis de grado presentada para el cumplimiento parcial de los requisitos de graduación del Colegio de Administración para el Desarrollo Quito, 03 de Mayo de 2013 Universidad San Francisco de Quito Colegio de Administración HOJA DE APROBACIÓN DE TESIS Análisis de Riesgo del Mercado de Valores del Ecuador: Riesgo de Mercado y Riesgo de Crédito de las obligaciones y titularizaciones de los emisores de renta fija Jorge Palomeque Tamayo Jorge Moncayo, MBA. Director de la tesis ______________________________________ Magdalena Barreiro, PhD. Decana del Colegio de Administración_____________________________________ Quito, Mayo de 2013 © DERECHOS DE AUTOR Por medio del presente documento certifico que he leído la Política de Propiedad Intelectual de la Universidad San Francisco de Quito y estoy de acuerdo con su contenido, por lo que los derechos de propiedad intelectual del presente trabajo de investigación quedan sujetos a lo dispuesto en la Política. Asimismo, autorizo a la USFQ para que realice la digitalización y publicación de este trabajo de investigación en el repositorio virtual, de conformidad a lo dispuesto en el Art. 144 de la Ley...
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...1 AGRICULTURE IN BRAZIL: FROM THE 1980’s TO THE G-20 MAURO MASON DE CAMPOS ADORNO Thesis Submitted in Partial Fulfilment of the Requirements of the Degree of Master by Coursework in International Policy Studies School of Politics Faculty of Humanities and Social Sciences La Trobe University Bundoora, Victoria 3083 Australia 2 July 2005 Abstract The Brazilian economy transformed from a state of financial crisis in the 1980’s to become a leading agriculture exporter in the late 1990’s. Economic reforms implemented by the Real Plan were a response to a bankrupt decade of failed economic plans and high inflation rates. In this period agriculture played a key role in the control of the inflation and in the stabilization of the economy. The domestic environment of the Brazilian economy and the role of agriculture helped Brazil to develop a more active role and led it to seek for a leadership position in the international agricultural negotiations. On the eve on the WTO’s Cancun Round of negotiation a new coalition of developing countries formed the G-20. The Group was born from a Brazilian initiative and for the first time a group of developing countries stood up against the developed countries in the agriculture negotiations. 3 Acknowledgments I would like to dedicate this thesis to my mother Ana and my brother Matheus. Who believed in me even when I did not. I love you guys. I would like to thank my Father for the support, during the whole process,...
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...BONPLANDIA Arachis (Leguminosae) A. Krapovickas and W.C. Gregory, 16 (Supl.): 1-205. 2007 BONPLANDIA 16 (SUPL.): 1-205. 2007 TAXONOMY OF THE GENUS ARACHIS (LEGUMINOSAE) by Antonio Krapovickas1 and Walton C. Gregory2 Translated by David E. Williams3 and Charles E. Simpson4 1 2 Director, Instituto de Botánica del Nordeste, Casilla de Correo 209, 3400 Corrientes, Argentina. Deceased. Formerly WNR Professor of Crop Science, Emeritus, North Carolina State University, USA. 3 International Affairs Specialist, USDA Foreign Agricultural Service, Washington, DC 20250, USA. 4 Professor Emeritus, Texas Agric. Exp. Stn., Texas A&M Univ., Stephenville, TX 76401, USA. 7 BONPLANDIA 16 (Supl.), 2007 Table of Contents Abstract ......................................................................................................................... Resumen ........................................................................................................................ Introduction .................................................................................................................... History of the Collections ................................................................................................. Summary of Germplasm Explorations ................................................................................ The Fruit of Arachis and its Capabilities ............................................................................ “Socias” or...
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...PONTIFÍCIA UNIVERSIDADE CATÓLICA DO RIO GRANDE DO SUL FACULDADE DE ADMINISTRAÇÃO, CONTABILIDADE E ECONOMIA PROGRAMA DE PÓS-GRADUAÇÃO EM ADMINISTRAÇÃO MESTRADO EM ADMINISTRAÇÃO E NEGÓCIOS CLAUDETE TAVARES ANÁLISE DA INTELIGÊNCIA COMPETITIVA NA INDÚSTRIA DE JORNAIS IMPRESSOS DO RIO GRANDE DO SUL Porto Alegre 2010 CLAUDETE TAVARES ANÁLISE DA INTELIGÊNCIA COMPETITIVA NA INDÚSTRIA DE JORNAIS IMPRESSOS DO RIO GRANDE DO SUL Dissertação apresentada como requisito parcial para obtenção do grau de Mestre em Administração pelo Programa de Pós-Graduação em Administração da Faculdade de Administração, Contabilidade e Economia da Pontifícia Universidade Católica do Rio Grande do Sul. Orientador: Prof. Dr. Peter Bent Hansen Porto Alegre 2010 Dedico esse trabalho aos meus filhos, que tiveram que ter muita paciência enquanto eu me dedicava a esta dissertação. Clariana, Tiago e Mateus: vocês representam o que realmente importa na vida. Para Luiz Antônio Slongo, pelo companheirismo, amor e apoio incondicional em todos os momentos. AGRADECIMENTOS Ninguém faz nada sozinho, muito menos uma dissertação de mestrado. A caminhada ao longo desta dissertação foi enriquecida por muitas pessoas, que mesmo sem notar, ajudaram a escrever este trabalho. Assim, registro aqui meu agradecimento aos respondentes da pesquisa e aos professores do MAN, em especial meu orientador Professor Dr. Peter Bent Hansen, pela confiança e estímulo. Aos professores doutores participantes da...
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...cyan magenta amarillo negro Contabilidad 1 es una obra concebida y desarrollada para la enseñanza y el aprendizaje de la contabilidad, que describe la parte operativa de esta disciplina, con orientación a la toma de decisiones. Cada tema del libro se desarrolla a través de una estructura muy clara: al principio se establecen los objetivos, y luego se ofrece una explicación acerca de los orígenes del tema, posteriormente se definen los conceptos más importantes, y por último, se proporcionan ejercicios de diversa complejidad. Cada tema presenta cuatro tipos de ejercicios (resueltos, individuales, colectivos y optativos); algunos de ellos pueden ser resueltos con el software incluido en el libro. Entre los temas más importantes que desarrolla esta obra se encuentran: • Normas de Información Financiera • Cuentas de resultados, deudoras y acreedoras • Inventarios • El estado de resultados • Registro de operaciones en diario y en paquetes de cómputo • Ajustes y la nueva elaboración de estados financieros • Estado de cambios en la situación financiera • Análisis de estados financieros Para obtener más información, visite: www.pearsoneducacion.net/calleja www.FreeLibros.me www.FreeLibros.me Contabilidad 1 Francisco Javier Calleja Bernal Instituto Tecnológico y de Estudios Superiores de Monterrey, Campus ciudad de México Revisión técnica Miguel Ángel Rodríguez Gutiérrez Universidad Iberoamericana Prentice Hall www.FreeLibros.me Datos de...
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