Liability

on official uses of the euro in exchange rate anchoring and in global foreign exchange reserve holdings, as well as private uses in the form of euro banknote holdings (currency substitution) and euro-denominated bank deposits and loans (asset and liability substitution) in countries outside the euro area. relative stability of currency shares appears to confirm new research findings suggesting that there is no strict relationship between reserve accumulation and reserve diversification. As in the past

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repo dealer, equity dealer, etc., ce qui peut prêter à confusion, car un "Forex dealer" par exemple sera un courtier (cf. infra paragraphe 3.6.1) sur le change. Enfin, les traders en charge de la gestion du bilan, dits "traders ALM" (pour "asset & liability management", littéralement : gestion de l'actif et du passif) et ceux responsables de la trésorerie interbancaire centralisée de la banque, "la Trésorerie", exercent des fonctions centrales très spécifiques qui doivent être décrites dans des paragraphes

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codified duties coupled with the new provisions making it easier for shareholders to bring derivative actions may have the effect of increasing bureaucracy in companies, making the decision process more cumbersome and potentially increasing the liability of directors. It has been argued that directors are not currently and should not be, as a result of legislative codification, forced to evidence their thought processes whether that is with regard to the stated factors or any other matter influencing

Recipients of this document are therefore required to ensure that they are aware of, and comply with, such restrictions or prohibitions. Neither Natixis, nor any of its affiliates, directors, employees, agents or advisers nor any other person accept any liability to anyone in relation to the distribution, possession or delivery of this document in, to or from any jurisdiction. This document (including any attachments thereto) are communicated to each recipient for information purposes only and do not constitute

La répartition de la rente pétrolière en Afrique Afrique Contemporaine – AFD Problèmes économiques n° 2902 – 21 juin 2006 • Andrew Rozanov – Who holds the wealth of nations ? Central Banking - Quarterly Journal – A liability based approach to Sovereign Wealth Central banking – Quarterly Journal vol. XVIII – N°3 – February 2008 • Mall Sekerke Sovereign Wealth meets poverty Central banking – Quarterly Journal vol. XVIII – N°3 – February 2008 2. Dossiers

provisions of Law 318, the Chairman and members of the Commission, and the Commission’s staff and delegates, shall enjoy immunity. In consequence, they may not be prosecuted or sued, neither collectively nor individually, for any civil or criminal liability related to the discharging of their duties, including offences specified by the Banking Secrecy Law of September 3, 1956, except when any of them discloses banking secrecy. In discharging their duties under the provisions of this Law , or according