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Explain why equity is a tricky concept?
Cause it is
Explain the concept of optimum marketing mix?
This Concept relates to the issue of dividing the marketing budget optimally over the elements of marketing mix
How does one explain a mortgage?
A mortgage is a concept which can be explained simply to someone. A mortgage is essentially a loan in which the house functions as a source of collateral.
What is business and its features?
Business is any legal activity that under taken to earn profit is called business.feature is like a characteristic to explain the meaning and its concept in the meaning of business.
How is the gross international reserves calculated?
Gross Foreign Assets of the CBA ross foreign assets of the CBA are defined based on residency criteria. All the CBA financial claims on nonresidents are included in gross foreign assets. Unlike foreign assets, gross foreign reserves or international reserves are the most liquid part of foreign assets that are held by the Central Bank and can be used for direct financing of external and internal payments. According to the definition of Balance of Payments Manual, fifth edition, IMF (1993), a country's international (foreign) reserves are "those external assets that are readily available to and controlled by monetary authorities34 for direct financing of payments imbalances, for indirectly regulating the magnitude of such imbalances through intervention in exchange markets to affect the currency exchange rate, and/or for other purposes." From the definition follows that the country's foreign (international) reserves must satisfy three conditions: (i) must be foreign assets of the CBA, i.e. claims on nonresidents, (ii) controlled by the CBA and be readily available, (iii) be financial assets of sufficient liquidity. The concept of international liquidity is important for foreign assets. In accordance to which assets are divided into convertible and non-convertible currencies, as well as into assets in the Armenian dram. The possibility of foreign reserves to be "readily available for financing of payments imbalances" is important as well, which also means, that the reserves must be denominated in convertible foreign currencies and have high liquidity to be readily available for carrying out external transactions. Thus, taking into account the above-stated and also the features of the given country (especially the foreign trade partners of the given country) the international reserves comprise assets only in free convertible currencies, including SDR and Euro, currencies included in their baskets, as well as currencies of some other developed countries: Swiss Franc, Swedish, Danish, Norwegian Crone, Canadian and Australian Dollar. Monetary gold is also considered a free convertible financial asset and is included in international reserves. Thus, gross international reserves of the Central Bank include only liquid foreign assets denominated in convertible currencies, and are the total sum of all foreign assets, excluding those in non-convertible currencies and Armenian dram, as well as illiquid foreign assets. If the CBA performs swap operation with resident banks, international reserves change by the sum of the currency exchanged, and their future flows are shown in the standard foreign currency liquidity template Foreign (international) reserves consist of following components: 1. Gold, 2. SDR holdings, 3. Reserve position in the IMF, 4. Other foreign currency assets. Gold - consists of standard gold bullion (monetary gold) the Central Bank owns (these must be at least 995/1000 pure), as well as gold on metal accounts with foreign prime banks and gold deposits at nonresident financial corporations. Gold is treated as a financial instrument because of its historical role in the international financial system and high liquidity in the international markets. All other non-standard gold the Central Bank owns is not monetary gold and should be classified as nonfinancial asset. Holdings of other precious metal standard and non-standard bullion are also treated as nonfinancial assets and are excluded from foreign reserves. SDR holdings - are financial assets created by the IMF and allocated to member countries, excluding those in the reserve position. SDR holdings represent unconditional rights to obtain other foreign exchange or reserve assets from other IMF member countries. Unlike other financial assets, monetary gold and SDR holdings are not claims on any other party, but at any time may be exchanged into claims on nonresidents, i.e. converted into foreign exchange issued by a nonresident Central Bank. Reserve position in the IMF - is expressed in SDR and equals to the value by which the quota of the country exceeds IMF holdings of national currency that is not related to purchase of reserve asset35. Other foreign currency assets comprise several financial assets, which are included in foreign reserves depending on possibility of their use by the Central Bank: • Cash foreign currency - consist of foreign notes and coins held by the Central Bank that are in circulation in one or several foreign countries and are legally used for making payments. They may also be withdrawn or be under withdrawal but available for exchange by banknotes in circulation. Cash foreign currency owned is a claim on the issuer country or central bank. Withdrawn notes and coins, as well as commemorative coins of all types of foreign countries are not included in foreign reserves. • Correspondent accounts in nonresident banks - comprise the balances of Central Bank correspondent accounts in foreign exchange in foreign first class banks. • Deposits - comprise all deposits of the Central Bank in foreign first class financial corporations (including banks). Restricted deposits and deposits with limitations are not included into foreign reserves. • Securities - foreign reserves include only high liquid bonds and shares issued by nonresidents and consist of: (i) promissory notes and transferable promissory notes in foreign currency, (ii) bondsissued or warranted by governments of other countries, Central Banks or other prime banks or financial corporations. • Repo agreements with nonresident financial corporations, as well as trust operations with these corporations are also included in foreign reserves, if Repo securities are liquid enough and assets handed over to trust management can be used by the Central Bank for making payments after a very short period of time upon request. • Credits - only short-term credits to and used overdrafts of foreign first class banks and nonbank corporations in foreign exchange (due for payment upon request) are included in foreign reserves. This category covers also short-term accounts and other short-term receivables of the CBA from nonresidents. Long-term loans and receivables are not included in foreign reserves. Gross Foreign Liabilities of the CBA Gross foreign liabilities are all claims of nonresidents on the Central Bank of Armenia. Like foreign reserves, these claims can be denominated in convertible and non-convertible foreign currencies and in the Armenian dram. Liabilities denominated in the Armenian dram included in foreign liabilities can be treated as convertible, because unlike foreign claims on nonresidents, foreign liabilities in dram are sufficiently liquid in Armenia, especially as the liabilities of the Central Bank. Thus, foreign liabilities of the CBA in dram are equal to foreign liabilities in foreign currencies, as they can be converted into free convertible foreign currencies upon request. All liabilities to nonresidents are included in foreign liabilities of the CBA, despite accurate measurement of foreign liquidity requires to include only short-term (with residual maturity up to one year) foreign liabilities. Considering that the CBA's foreign reserves serve also for the repayments and servicing of the Governments' foreign loans, this safe-side approach is acceptable. Thus, gross foreign liabilities include: 1. all credits from IMF (direct loans and foreign exchange purchase-repurchase agreements), 2. correspondent accounts of nonresident banks in the CBA, 3. deposits of nonresidents in the CBA, 4. credits and overdrafts from nonresident banks and other financial institutions, 5. other liabilities to nonresidents. Credits from IMF - include credits from IMF covering Systemic Transformation Facility (STF) and Poverty Reduction and Growth Facility (PRGF, former ESAF). Correspondent accounts of nonresident banks in the CBA - include all correspondent accounts of nonresident banks in the CBA. Deposits of nonresidents - include all deposits of nonresident banks, financial institutions, legal entities, and international organizations in the CBA.Credits from nonresident banks - include all credits and used amounts of overdrafts provided by foreign banks to the CBA. Other liabilities to nonresidents - include REPO agreements with foreign financial organizations and banks, payable accounts to nonresidents, liabilities on L/C and all other liabilities to nonresidents. Net Foreign Assets of the CBA Net foreign assets (NFA) are observed to reflect the external position of the CBA. NFA are the difference of foreign assets and foreign liabilities. NFA are very important indicator for the monetary policy. They reveal the influence of external sector on the monetary indicators. In particular, it allows estimating the origination of monetary base stipulated by acquisition of net foreign assets by the CBA. The calculation of NFA of the CBA has some features. Several indicators of NFA are calculated for different purposes: • general NFA embodies the difference between all foreign assets and foreign liabilities of the CBA, • NFA denominated in convertible foreign currencies embodies the difference between the CBA international reserves (i.e. foreign assets in freely convertible foreign currencies) and the CBA foreign liabilities in convertible foreign currencies and Armenian dram. Besides the above-mentioned indicators there is another feature to calculate foreign assets (mentioned also in the Sectoral balance sheets). Amounts, received from privatization of state enterprises are accumulated in the special privatization account of Government in the CBA, constituting at the same time part of gross foreign reserves. Nevertheless, they are bounded assets and as those are not included in NFA. Thus, besides the above-mentioned indicators, the following indicators are calculated: • foreign reserves excluding privatization accounts which is the difference of foreign reserves of the CBA and balances on the special privatization account of the government, • net foreign assets in convertible currencies excluding privatization accounts, which is the difference of CBA net foreign assets in convertible currencies and balances on the special privatization account of the government, For monetary policy programming purposes NFA are also calculated based on fixed (program) exchange rate (Appendices 2.6 and 2.7). For certain period of time (usually one year) exchange rates are fixed not only for the Armenian dram in respect to other currencies, but also for the exchange rates of main convertible currencies in respect to US dollar (Appendix 2.5). This allows eliminating the influence of exchange rate fluctuations on the level of NFA. Nevertheless, in the case of significant fluctuations of foreign exchange rates the NFA calculated based on fixed exchange rates can deviate significantly from the one based on market rates. That is why NFA are calculated and published based on both fixed and market exchange rates, with corresponding footnotes.
Explain the concept of Market Efficiency Is Arbitrage possible in an efficient market Why or why not What is some of the evidence for and against market efficiency No more than two pages please?
what are the types of market efficiency in nigeria?
Explain the concept of foreign key How a foreign key differs from a primary key?
Foreign keys are used to link one database with another. A primary key is an attribute of a record that allows users to identify information.
How do you write a sentence for foreign?
It was a foreign concept, for me.
Explain Briefly Concept of Toning In Computer Graphics?
explain concept toning computergraphics
Explain the concept of management and bring out is importanc in present day organizations?
explain the concept of managemen
What is the concept of individual differences?
Individual differences refer to the unique traits and characteristics that distinguish one person from another. These differences can include personality traits, intelligence levels, skills, abilities, and experiences. Recognizing and understanding individual differences is important for educators, psychologists, and employers in tailoring their approaches to meet the specific needs and preferences of individuals.
Explain the ethical concept of state which referce to Plato?
In Plato's philosophy, the state represents the social and political organization of society as a whole, with each individual fulfilling a specific role based on their abilities. Plato believed in a hierarchical system where rulers, soldiers, and producers each had their own responsibilities in maintaining a just society. The state, according to Plato, should be guided by philosopher-kings who possess wisdom and virtue.
Explain the concept of validity and reliability?
Explain the concepts of reliability,
What is the concept of gaseous exchange in human?
the lungs
Researchers who would best explain the concept of mental set are?
Cognitive psychologists and neuroscientists are best suited to explain the concept of mental set. These experts study how our minds process information and solve problems, including how mental sets can influence our thinking and decision-making.
Explain how the marketing concept can be applied in non profit organisations?
Explain how the marketing concept can be applied in non profit organization?
Explain the roles of men and women within the yin and yang concept?
can u explain to me about " the role of men and women within the yin and yang concept?" Can you explain me about the roles of men and women within the Yin and Yang concept?
