Working capital reserve

Working Capital Reserve

C. Working capital reserve

C. Working capital reserve 17 19 8

22. Approves the establishment of a working capital reserve of 45 million dollars under the capital master plan account, to be operated under the terms of financial regulations 3.5, 4.2 and 4.3

A working capital reserve level of 8.3 per cent.

The asset losses checked in the reorganization of the enterprise shall, upon approval, be offset with the undistributed profits, surplus reserve, capital reserve and paid in capital in turn.

(c) Section Chapter IV presents the status of the working capital reserve

1 This balance includes working capital reserve brought forward from 2002 2003.

Transfers from surplus account Reserve balance at 31 December 1997

The Temptation of China s Capital Account

Statement VII. Working capital (operating reserve) for the biennium ended 31 December 1997

Article 17 In case capital actually paid by the investors exceeds the registered capital (including stock premiums), an enterprise shall manage the surplus as capital reserve.

Drawdowns from the working capital reserve shall be restored from contributions as soon as possible.

The COP will, therefore, need to decide on the level of the working capital reserve.

The securities firm shall not provide customer s capital account and securities account to others.

The working capital reserve currently amounts to 699,000 and, to date, no drawdowns have been necessary.

Drawdowns from the working capital reserve shall be restored from contributions as soon as possible. quot

Even more extraordinarily, when these new currencies emerged as the new claimants to reserve status, they had only recently become convertible for current account transactions, and capital flows were still restricted. Germany had moved to current account convertibility in 1958, but Japan only in 1964.

Names in capital account and securities account of the same customer should be the same.

If capital in customer s capital account is insufficient, it cannot accept buying entrustment if securities in customer s securities account are insufficient, it cannot accept selling entrustment.

Expenditure and delivery 10 35 4 C. The working capital reserve 36 37 10 GE.97 64606

(c) Income derived from investments pertaining to trust funds reserve and special accounts shall be credited to the trust fund, reserve or special account concerned.

Decides to maintain the level of the working capital reserve at 8.3 per cent of the estimated expenditure

The Fund has a central role in furthering capital account liberalization.

B. UNITED NATIONS GENERAL FUND, WORKING CAPITAL FUND AND SPECIAL ACCOUNT

C. United Nations General Fund, Working Capital Fund and Special Account

General Fund, Working Capital Fund and Special Account Technical cooperation activities

It is anticipated that at the end of 2005 the required working capital reserve will be approximately US 868,000.

7. Decides to maintain the level of the working capital reserve at 8.3 per cent of the estimated expenditure

At such time as may be necessary, additional authorized appropriations will be made to replenish the capital asset reserve.

The financing of the support account included the 13,790,000 excess balance of the Peacekeeping Reserve Fund.

Capital account liberalization and renminbi internationalization invite potentially volatile cross border capital flows, which could, for example, trigger rapid currency appreciation. Given this, China can be expected to continue to manage capital account transactions to some extent, using macroprudential measures and, when appropriate, direct capital controls.

Second, much will depend on how China navigates the transition to a more open capital account. History is littered with financial crises occurring in the wake of precipitous capital account liberalization.

(1) where the fund is directly invested or injected by the state, the national capital or state owned capital reserve shall be increased under the related provisions of the state.

Over the last two years, the Agency has built up a working capital reserve equal to one month's operational requirements.

The estimated expenditure is 25,928,400 before taking into account the statutory reserve which is proposed at 600,000.

Although these booms were initially financed by domestic capital, they soon became dependent on foreign capital, which flowed into their economies as advanced country central banks pumped huge amounts of liquidity into financial markets. Now, just as the US Federal Reserve contemplates an exit from its unconventional monetary policies, emerging economies current account positions are weakening, making their reliance on capital inflows increasingly apparent and increasingly dangerous.

Working capital shall be provided from the cash resources of the Fund account.

Regional and global integration of markets Speed and sequencing of capital account liberalization, including role of controls on short term capital flows

Combined with efforts to maintain a competitive exchange rate, this has led to considerable reserve accumulation, but also a concomitant capital outflow.

C. United Nations General Fund, Working Capital Fund and Special Account . 12 17 5

(i) quot General Fund, Working Capital Fund and Special Account quot includes the United Nations General Fund (statement V), the United Nations Working Capital Fund (statement VI) and the United Nations Special Account (statement VII)

A second decision was made to transfer unspent income to the reserve account until the appropriate level is reached.

1 The amount required to bring the working capital reserve up to 8.3 per cent of the total annual programmes cost plus overhead.