Furthermore , France has recorded current account surpluses and a net external liability position .

Moreover , Denmark has recorded current account surpluses , while continuing to have a net external liability position .

Furthermore , Spain has recorded current account surpluses , while continuing to have a net external liability position .

Austria has maintained current account deficits as well as a net external liability position .

and ( ii ) if the total liquidity position of one or more relevant PM accounts is negative , extract single payment orders until the total liquidity position of each relevant PM account is positive .

In addition , Sweden recorded current account surpluses , while maintaining a net external liability position .

The objectives for the management of the ECB 's foreign reserves are , in order of importance , liquidity , security and return .

Such operations are designed to adjust the structural liquidity position of the Eurosystem vis à vis the banking system , i.e. the amount of liquidity in the market over the longer term .

These operations would aim at adjusting the structural liquidity position of the Eurosystem vis à vis the banking system , i.e. the amount of liquidity in the market over the longer term .

It restores human rights to the central place in American foreign policy set forth after September 11, 1973.

With regard to other factors , Finland has recorded sizable current account surpluses while continuing to have a net foreign liability position .

and ( ii ) if , in relation to a pair of PM accounts as described under point ( i ) , liquidity is insufficient to fund the bilateral position , extract single payment orders until there is sufficient liquidity .

( ii ) if , in relation to a pair of PM accounts as described under point ( i ) , liquidity is insufficient to fund the bilateral position , extract single payment orders until there is sufficient liquidity .

Such adjustments shall where necessary be in addition to any changes to the value of the position required for financial reporting purposes and shall be designed to reflect the illiquidity of the position .

Two types of outsourcing are taking place outsourcing to external suppliers and intra group outsourcing .

and ( ii ) if , in relation to a pair of PM accounts as described under point ( i ) , liquidity is insufficient to fund the bilateral position , extract single payment orders until there is sufficient liquidity .

The foreign reserves portfolio . It ensures that , the ECB has sufficient liquidity to conduct its foreign exchange operations involving non EU currencies .

With regard to other factors , the United Kingdom has recorded a small current account surplus in 1997 , and has a net foreign asset position .

The determination of the appropriate liquidity horizon for a position or set of positions is subject to a floor of three months .

Pooling system a system for central banks collateral management where the counterparties provide a pool of assets to serve as collateral in their transactions with the central bank .

Post fixed coupon a coupon on floating rate instruments which is determined on the basis of the values taken by the reference index at a certain date ( certain dates ) during the coupon accrual period .

2007O0002 EN 22.11.2010 003.001 113 M3 ( ii ) if , in relation to a pair of PM accounts as described under point ( i ) , liquidity is insufficient to fund the bilateral position , extract single payment orders until there is sufficient liquidity .

In such cases , the relevant national central bank is responsible for informing the counterparties in advance of the arrangements to be made for transactions involving those branches . Open market operation an operation executed on the initiative of the central bank in the financial market .

So far , the Eurosystem has had no need to conduct operations to adjust the structural liquidity position of the banking system .

I just couldn t get past the idea that there is a difference between Obama and Romney s foreign policies They are not if you ask me.

With regard to other external developments , sizable current account surpluses have been recorded since 1994 , which have reduced the large net external liability position which occurred as a result of the accumulation of deficit positions over several decades ( see Table 10 ) .

Remuneration of foreign reserve assets transferred to the ECB On transferring foreign reserve assets to the ECB upon joining the Eurosystem , each NCB acquired a remunerated claim on the ECB for the value of the amount it transferred .

Remuneration of foreign reserve assets transferred to the ECB On transferring foreign reserve assets to the ECB upon joining the Eurosystem , each NCB acquires a remunerated claim on the ECB equivalent to the amount it transfers .

Credit risk related to monetary policy and payment systems operations is limited by the use of assets provided by counterparties as collateral pledged to the Eurosystem in the course of open market operations and the provision of intraday liquidity . Only high quality assets are eligible for these operations .

In such cases , the relevant national central bank is responsible for informing the counterparties in advance of the arrangements to be made for transactions involving those branches .

Pre fixed coupon a coupon on floating rate instruments which is determined on the basis of the values taken by the reference index at a certain date ( or dates ) before the start of the coupon accrual period .

Outright transaction a transaction whereby assets are bought or sold up to their maturity ( spot or forward ) .

Post fixed coupon a coupon on floating rate instruments which is determined on the basis of the values taken by the reference index at a certain date ( or dates ) during the coupon accrual period .

Monetary financial institution ( MFI ) one of a class of financial institutions which together form the money issuing sector of the euro area .

Pre fixed coupon a coupon on floating rate instruments which is determined on the basis of the values taken by the reference index at a certain date ( or dates ) before the start of the coupon accrual period . Purchase date the date on which the sale of purchased assets by the seller to the buyer becomes effective .

EXTERNAL COMMUNICATION

External Developments

External Communication

External communication

EXTERNAL COMMUNIC ATION

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The liquidity horizons shall be set according to the time required to sell the position or to hedge all material relevant price risks in a stressed market , having particular regard to the size of the position .

Indeed, Europe s divided stance on the Israeli Palestinian conflict exemplifies its poor record of achieving foreign policy consensus.

Its foreign policy included the covert underwriting of opposition parties in Uruguay and Argentina, preventing strong governments that might threaten Brazil's strategic position in the area.

Eurostat see European Commission .