It's a new social currency, so to speak, that could become as powerful as our credit rating.

This isn't 10,000, it's the local currency.

The currency was in theory governed by a rules based Currency Board, which the British invented for their smaller colonies. It tied the local currency to the British Pound, giving local authorities no discretion in monetary policy.

Gross proceeds are recorded in local currency based on current year deliveries.

Salaries are paid in local currency while allowances are paid in US dollars.

So, this rise of this sort of local currency is another really interesting phenomenon.

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The Early Childhood Environment Rating Scale Revised Edition, Infant Toddler Environment Rating Scale, and Family Day Care Rating Scale were initiated as performance measures.

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The United Nations goal with respect to the credit rating would be to convince the credit rating agencies to treat the borrowing as quasi sovereign for credit rating purposes.

The credit rating agencies would probably evaluate the United Nations for credit rating purposes based on various criteria, including

The exchange rate explains part, but not all, of the increase, since 13 countries actually increased contributions in local currency.

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And by rating it and by rating the different people who submit information, we can get refined results and weighted results.

Some 18 Governments increased their contributions to regular resources in local currency and 14 increased by 7 per cent or more.

Policies to support municipalities with a good financial standing and favourable credit rating that have tried to meet some of their investment needs by tapping local bond markets could yield good results.

And then I got my instructor rating.

E. Credit rating of United Nations bond

All organizations whose expenditures, like those of the secretariat, are predominantly incurred in local currency experience problems arising from exchange rate fluctuations.

First is just the rise of the fact that Zagat's has actually moved out of and diversified from rating restaurants, into actually rating healthcare.

Many countries therefore view the development of local currency bond markets to be an important policy priority that reduces vulnerability to external shocks.

Some of the Asia Pacific and Latin American and Caribbean countries have begun to issue long term, local currency bonds to promote investments.

Local currency government debt markets have performed fairly well during the crisis, while local currency corporate debt markets have played a more modest role as a vehicle for longer term finance. This suggests that domestic reforms aimed at reducing issuance costs, improving disclosure requirements, enhancing creditors rights frameworks, and tackling other inhibiting factors could bring high returns.

Under indicator of achievement (c) (i), performance measures (target 2004 2005), replace an average rating of 'fully satisfactory' with a 75 per cent rating 'fully satisfactory' .

The administrative measures also stipulated that under the rating based settlement publicity mechanism, applicants who have got the qualified rating need to make publicity before settlement.

Under indicators of achievement (f) and (h), performance measures (target 2004 2005), replace average survey rating of 'fully satisfactory' with a 75 per cent rating 'fully satisfactory' .

Governments may be able to mobilize funding through debt swaps, where donors exchange debt for local currency investment in environmental protection, such as waste water treatment.

An investment grade rating reflects the credit rating agencies' belief that the probability of payment of the bond is high and the financial risk associated with the investment is low.

And so, you know, 390 percent approval rating ain't so bad.

An unsatisfactory rating did not necessarily indicate failure, mismanagement or fraud.

3. Takes note of the updated list of hard currency duty stations for which the allowances are specified in local currency, as contained in annex VIII to the report of the Commission Official Records of the General Assembly, Fifty fifth Session, Supplement No. 30 (A 55 30).

He has the second highest approval rating of the nation's 50 governors.

Ironically, today s pain stems from one of the great successes that emerging economies have achieved the reduction of foreign currency funding in favor of local currency debt. As emerging market central banks leaned against heavy capital inflows in order to mitigate exchange rate appreciation, their currencies became less volatile.

The differences in missions and in structure do not warrant different rating schedules.

So that brings the idea of some kind of rating agency, Morningstar type.

Ownership of currency is generally proven through possession of the currency.

Any United Nations bond issue would be evaluated by market participants and potential investors by its credit rating, which is a formal evaluation of the creditworthiness of the bond issue by an independent credit rating agency.

In establishing a credit rating on a United Nations bond issue, the credit rating agencies would focus on the source and probability of timely debt service payments, in accordance with the terms applicable to the bond issue.

There are risks even for banks that make the effort to match their dollar borrowing from abroad with dollar loans extended at home. There may be no obvious currency mismatch for the bank, but if the local borrowers revenues are only in domestic currency, they may become unable to service their debt.

As a result, the rating on the Government's recent bond issue has been upgraded.17

Policymakers in many emerging market countries worry that surging capital inflows will drive up the value of the local currency, destabilize financial markets, and fuel economic overheating. Their reactions range from buying up the foreign money to prevent currency appreciation to adopting capital controls, and, in extreme cases, to keeping the money out altogether.

Predictably, the Senate s bill encountered stiff resistance from the dominant rating agencies. Standard Poor argued that such a mechanism would provide credit rating agencies with less incentive to compete with one another, pursue innovation, and improve their models, criteria, and methodologies.

Currency exchange rate