debt swap fund
, FONDAM, provides USD 2 million grant co-financing towards this project.
He told the forum on Thursday that a 120 billion dollar currency swap fund
to be launched by East Asian economies in March could be developed to become an Asian Monetary Fund, adding it could be "supplementary" to the IMF and not replace it.
Known also as an exchange fund or a diversification fund, a swap fund uses partnership tax breaks to help wealthy investors diversify their assets without paying capital-gains taxes.
In the last two years private swap funds from a number of major Wall Street institutions have squeezed through that loophole.
The apex bank said that the window would allow it to swap funds
mobilised through foreign currency deposits to attract overseas funds.
into by the Company on behalf of each of the Swap Funds with Credit
subject which will affect the Net Asset Value of the Swap Funds as of
Of particular concern to Congress was the reappearance of so-called swap funds
, which are partnerships or RICs that are structured to fall outside the definition of an investment company, thereby allowing contributors to make tax-free contributions of stock and securities in exchange for an interest in an entity that holds similar assets.
Thereafter, syndicated swap funds
involving partnerships prompted Congress to
Contract Awarded for Admin change, swap funds
to other clins
Implementation Date"), each of the Swap Funds
will avail of the
I am surethat the currency swap arrangement between the two countries would be an important stepping stone in balancing the strength of bilateral ties between the real and financial sectors, leading to ever closer economic cooperation, said Bank of Korea Governor, Dr Choongsoo Kim, The two central banks have agreed to work together to achieve this goal, bringing about tangible outcomes, such as the use of currency swap funds
in local currency trade settlement.