Board of Investments, Department of Commerce, Financial Audit for the Fiscal Year Ended June 30 .. 1999
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In our eReader you can find the full English version of the book. Read Board of Investments, Department of Commerce, Financial Audit for the Fiscal Year Ended June 30 .. 1999 Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Board of Investments, Department of Commerce, Financial Audit for the Fiscal Year Ended June 30 .. 1999
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During the period the securities are on loan, the Board receives a fee and the custodial bank must initially receive collateral equal to 102 percent of the fair value of the loaned securities and maintain collateral equal to not less than 100 percent of the fair value of the loaned security. The Board retains all rights and risks of ownership during the loan period.
During fiscal years 1 999 and 1998, State Street lent, on behalf of the Board, certain securities held by State Street, as custodi...an, and received US dollar currency cash, US government securities, and irrevocable bank letters of credit. State Street does not have the ability to pledge or sell collateral securities unless the borrower defaults.
The Board did not impose any restrictions during fiscal years 1999 and 1998 on the amount of the loans that State Street made on its behalf. There were no failures by any borrowers to return loaned securities or pay distributions thereon during fiscal years 1999 and 1998. Moreover, there were no losses during fiscal years 1999 and 1998 resulting from a default of the borrowers or State Street.
What to read after Board of Investments, Department of Commerce, Financial Audit for the Fiscal Year Ended June 30 .. 1999?
You can find similar books in the "Read Also" column, or choose other free books by Montana. Legislature. Legislative Audit Division to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
During the period the securities are on loan, the Board receives a fee and the custodial bank must initially receive collateral equal to 102 percent of the fair value of the loaned securities and maintain collateral equal to not less than 100 percent of the fair value of the loaned security. The Board retains all rights and risks of ownership during the loan period.
During fiscal years 1 999 and 1998, State Street lent, on behalf of the Board, certain securities held by State Street, as custodi...an, and received US dollar currency cash, US government securities, and irrevocable bank letters of credit. State Street does not have the ability to pledge or sell collateral securities unless the borrower defaults.
The Board did not impose any restrictions during fiscal years 1999 and 1998 on the amount of the loans that State Street made on its behalf. There were no failures by any borrowers to return loaned securities or pay distributions thereon during fiscal years 1999 and 1998. Moreover, there were no losses during fiscal years 1999 and 1998 resulting from a default of the borrowers or State Street.
What to read after Board of Investments, Department of Commerce, Financial Audit for the Fiscal Year Ended June 30 .. 1999?
You can find similar books in the "Read Also" column, or choose other free books by Montana. Legislature. Legislative Audit Division to read onlineMoreLess
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