Suchergebnisse

REPO transaction is an agreement by which one party (the seller) undertakes to sell financial instruments or cash to the other party (the buyer), and the latter shall pay the purchase price, and thus it is agreed that the seller undertakes to repurchase from the buyer the same or equivalent financial instruments or the same amount of money for the repurchase price at the scheduled future date. This transaction determines relatively complex legal relations, and the investor 's risk to suffer monetary losses depends not only on the instability of the market price of the financial instruments, but also on genuine fulfillment of contractual obligations by the parties of the transaction. As in all contractual relations, in case of REPO transaction, there are situations where the parties violate the terms of the transaction and the disputes have to be solved in court. Although the Lithuanian case law is rather unified when solving disputes between the parties of the transaction where the investor does not comply with the obligation of the transaction to pay margin, sometimes non-compliance with this obligation is not the only reason for the resulting losses. The law, in cases where the investor violates the obligation to pay margin, grants the right to the financial intermediary to dispose of financial instruments, however giving the right, but not the obligation the law does not impose strict imperatives for the deadline of realization of financial instruments, for this reason in practice there are cases where the latter are in no hurry to implement their rights to realize the financial instruments, what increases the losses even more. In such cases the biggest problem is the legal qualification of the delay of financial intermediary to realize the financial instruments and the connection with the obligations applicable to the latter and influence of failure to comply with these obligations to the size of the loss. In such cases the question is whether if there is proof that the financial intermediary delayed realization of financial instruments, the losses of the REFO transactions still have to be covered by the investor who failed to fulfill their obligation to pay margin? Whether the losses shall be distributed in proportion to the two parties and whether such distribution of the losses for both parties is legally possible and reasonable in general? The aim of this thesis is to establish any contractual or statutory provisions that forbid the financial intermediary to delay realization of financial instruments, when the latter acquires such a right. The aim of the thesis is to assess whether the financial intermediary is responsible for the losses resulting from the delay in the realization of the financial instruments transferred to the intermediary during the REPO transaction where the investor does not pay margin (i.e. or one party, a financial intermediary, is responsible for the losses incurred because of his fault, as a result of the delay in realization of financial instruments transferred based on REPO transaction when such right incurred due to the fact that another party, investor, breaches his obligations (did not pay margin), and to determine the recovery mechanism of damages caused because of the fault of both parties that concluded transaction. In order to achieve these objectives, the paper has analyzed both the Lithuanian and the European Union law acts regulating investment services and protection of investors' rights, the thesis has also examined the Lithuanian case law and the various scientific sources. The hypothesis of the paper that a financial intermediary is responsible for the losses resulting from a delay in the realization of financial instruments transferred to him based on the REPO transaction where the investor does not pay the margin has been proven. The paper has found out that in cases where the investor does not pay the margin, the conditions under REPO transaction allow the financial intermediaries to realize the transferred financial instruments. In some cases REPO contracts shall provide the deadline of such right from the moment when the investor does not pay the margin, but this condition is not mandatory and is not always included in repurchase agreements. Actually, even in cases where such a term is provided for in the contract it does not require a financial intermediary to fulfill this right as soon as it occurs, the financial intermediary is free to determine how soon after the emergence of the right to realize the financial instruments he shall implement the latter. In cases where in the REPO transaction there is a dispute on realization of financial instruments in terms of timeliness of the financial intermediary in respect of realization of financial instruments, the provisions provided for in the Act of Markets of Financial Instruments in the Republic of Lithuania and in the Civil Code are applicable, such provisions establish the principles of care, diligence and fairness, and oblige the financial intermediary to operate for the best conditions and interests of the customer. Given the fact that this work has established that the obligations to the parties arising based on REPO transaction end only when both parties have fulfilled their obligations, the obligations arising based on the mentioned transaction, including the care, diligence and integrity requirements are to be applied even when the investor breaches his obligations, as in such case the obligations of the parties still can not be considered to be expired. Therefore, in cases where it is determined that the financial intermediary with the right to realize financial instruments, even in cases where this obligations occurred due to the fact that the investor has failed to fulfill his obligation according to REPO transaction to pay margin, delayed to implement it, such behavior is to be regarded as the breach of duty of care, diligence and fairness and the obligation to act for the best conditions for the customer. This thesis has also showed that during the settlement of disputes between an investor and a financial intermediary in court, in addition to special legal norms regulating the investment services, the contractual civil liability provisions are also applicable, which, in cases where both REPO counterparties violate the contractual obligations according to this transaction, allow the use of mixed fault institute, based on which when analyzing the causality of resulting losses and actions of each party two types of solutions are accepted: the debtor's liability is reduced in proportion to the creditor's fault, i.e. the court in determining the fault of each party for the occurred losses and reducing the borrower's responsibility by eliminating the creditor's liability or with the full exemption of the debtor's liability, having established that the damage was caused mainly due to the creditor's action. Thus, in cases where the investor violates the contractual obligation to pay margin and the financial intermediary delays to realize financial instruments, the influence of failure to comply with each of the obligations is assessed in respect of the losses, and when the influence is determined the losses are respectively distributed to both parties involved.

REPO transaction is an agreement by which one party (the seller) undertakes to sell financial instruments or cash to the other party (the buyer), and the latter shall pay the purchase price, and thus it is agreed that the seller undertakes to repurchase from the buyer the same or equivalent financial instruments or the same amount of money for the repurchase price at the scheduled future date. This transaction determines relatively complex legal relations, and the investor 's risk to suffer monetary losses depends not only on the instability of the market price of the financial instruments, but also on genuine fulfillment of contractual obligations by the parties of the transaction. As in all contractual relations, in case of REPO transaction, there are situations where the parties violate the terms of the transaction and the disputes have to be solved in court. Although the Lithuanian case law is rather unified when solving disputes between the parties of the transaction where the investor does not comply with the obligation of the transaction to pay margin, sometimes non-compliance with this obligation is not the only reason for the resulting losses. The law, in cases where the investor violates the obligation to pay margin, grants the right to the financial intermediary to dispose of financial instruments, however giving the right, but not the obligation the law does not impose strict imperatives for the deadline of realization of financial instruments, for this reason in practice there are cases where the latter are in no hurry to implement their rights to realize the financial instruments, what increases the losses even more. In such cases the biggest problem is the legal qualification of the delay of financial intermediary to realize the financial instruments and the connection with the obligations applicable to the latter and influence of failure to comply with these obligations to the size of the loss. In such cases the question is whether if there is proof that the financial intermediary delayed realization of financial instruments, the losses of the REFO transactions still have to be covered by the investor who failed to fulfill their obligation to pay margin? Whether the losses shall be distributed in proportion to the two parties and whether such distribution of the losses for both parties is legally possible and reasonable in general? The aim of this thesis is to establish any contractual or statutory provisions that forbid the financial intermediary to delay realization of financial instruments, when the latter acquires such a right. The aim of the thesis is to assess whether the financial intermediary is responsible for the losses resulting from the delay in the realization of the financial instruments transferred to the intermediary during the REPO transaction where the investor does not pay margin (i.e. or one party, a financial intermediary, is responsible for the losses incurred because of his fault, as a result of the delay in realization of financial instruments transferred based on REPO transaction when such right incurred due to the fact that another party, investor, breaches his obligations (did not pay margin), and to determine the recovery mechanism of damages caused because of the fault of both parties that concluded transaction. In order to achieve these objectives, the paper has analyzed both the Lithuanian and the European Union law acts regulating investment services and protection of investors' rights, the thesis has also examined the Lithuanian case law and the various scientific sources. The hypothesis of the paper that a financial intermediary is responsible for the losses resulting from a delay in the realization of financial instruments transferred to him based on the REPO transaction where the investor does not pay the margin has been proven. The paper has found out that in cases where the investor does not pay the margin, the conditions under REPO transaction allow the financial intermediaries to realize the transferred financial instruments. In some cases REPO contracts shall provide the deadline of such right from the moment when the investor does not pay the margin, but this condition is not mandatory and is not always included in repurchase agreements. Actually, even in cases where such a term is provided for in the contract it does not require a financial intermediary to fulfill this right as soon as it occurs, the financial intermediary is free to determine how soon after the emergence of the right to realize the financial instruments he shall implement the latter. In cases where in the REPO transaction there is a dispute on realization of financial instruments in terms of timeliness of the financial intermediary in respect of realization of financial instruments, the provisions provided for in the Act of Markets of Financial Instruments in the Republic of Lithuania and in the Civil Code are applicable, such provisions establish the principles of care, diligence and fairness, and oblige the financial intermediary to operate for the best conditions and interests of the customer. Given the fact that this work has established that the obligations to the parties arising based on REPO transaction end only when both parties have fulfilled their obligations, the obligations arising based on the mentioned transaction, including the care, diligence and integrity requirements are to be applied even when the investor breaches his obligations, as in such case the obligations of the parties still can not be considered to be expired. Therefore, in cases where it is determined that the financial intermediary with the right to realize financial instruments, even in cases where this obligations occurred due to the fact that the investor has failed to fulfill his obligation according to REPO transaction to pay margin, delayed to implement it, such behavior is to be regarded as the breach of duty of care, diligence and fairness and the obligation to act for the best conditions for the customer. This thesis has also showed that during the settlement of disputes between an investor and a financial intermediary in court, in addition to special legal norms regulating the investment services, the contractual civil liability provisions are also applicable, which, in cases where both REPO counterparties violate the contractual obligations according to this transaction, allow the use of mixed fault institute, based on which when analyzing the causality of resulting losses and actions of each party two types of solutions are accepted: the debtor's liability is reduced in proportion to the creditor's fault, i.e. the court in determining the fault of each party for the occurred losses and reducing the borrower's responsibility by eliminating the creditor's liability or with the full exemption of the debtor's liability, having established that the damage was caused mainly due to the creditor's action. Thus, in cases where the investor violates the contractual obligation to pay margin and the financial intermediary delays to realize financial instruments, the influence of failure to comply with each of the obligations is assessed in respect of the losses, and when the influence is determined the losses are respectively distributed to both parties involved.

This book is for readers who are interested in the history of racism, citizenship, and the legacies of slavery and empire in the Americas. Sabine F. Cadeau uses state documents and oral sources to tell the story of the carefully concealed, lesser known, twentieth-century genocide of ethnic Haitians.

This important collection of essays by Andrew Feenberg presents his critical theory of technology, an innovative approach to philosophy and sociology of technology based on a synthesis of ideas drawn from STS and Frankfurt School Critical Theory. The volume includes chapters on citizenship, modernity, and Heidegger and Marcuse.

Показаны боевые действия авиации Юго-Западного фронта в первые дни войны. На основе изучения материалов, раскрывающих действия авиации по отражению вторжения германских войск на территорию Советского Союза, автор делает вывод, что авиация действовала разрозненно, без массирования её сил и средств, слабо взаимодействуя с наземными войсками, уступая противнику в тактике и мастерстве, что не позволило ей оказать эффективную помощь сухопутным войскам. ; The article describes a group of Soviet and German troops involved in combat operations from June 22 to July 6 1941 the oncoming tank battle in the area of Lutsk, Dubno, Rovno, requiring a lot of effort from the aviation front which consisted in daily organization of 600 sorties from June 22 to 30, yet defeated due to the uncoordinated acts different kinds of troops. Analysing aviation activity, the author concludes that fighters led the struggle for air superiority primarily by patrolling above the ground forces, the most important objects, accompanied by attack aircrafts air raids on enemy airfields in this case were not organized, which allowed the enemy to feel safe on their territory. Actions of the South-western Front Air Force, as noted by the researcher, allowed reducing the combat capabilities of German armoured and motorized formations, but the final results of air strikes did not satisfy the Front Military Council. The efforts of the front air force were sprayed on numerous targets. Such actions more severely affected only the rear of the column and transports of the enemy, but they did not exert serious influence on the course of the cross-border battle. The article notes the reasons for unsatisfactory performance of the air reconnaissance compares the reports on casualties in the fighting along the line of staff and political personnel identifies a feature that while on other fronts they exaggerated the losses of the enemy (sometimes significantly), the Ukraine somehow lowered the data about the success of the aviation front characterizes the losses of units of the 4th Air Force and military aviation of the enemy shows the losses of the Soviet Air Force Front, whose combat losses by the end of June amounted to 697, total to 911 aircrafts. The practical significance of this paper is that it partially closes the gaps in the study of the fighting troops of the boundary cover, and researchers dealing with the war can use its factual material. The main causes of failures and losses, according to the author, were inadequate operational training senior officers, the lack of a clear interaction between different kinds of troops, lack of trained young pilots and confusion of the command. Concluding the article, the author notes that during 15 days of fighting the Soviet troops of 864 600 people (excluding the data of the 18th Army) suffered irrecoverable and sanitation losses of 241 594 people, and the air force lost 1218 combat aircrafts. The depth of withdrawal of the Soviet troops from the border was 300350 miles, and only at the price of a great loss the Front"s troops with air support slowed the main enemy force in Kiev direction and thereby allowed the front of the main forces to withdraw and take up defence in the fortified areas of the old state border.

AbstractPreparing students for twenty‐first century leadership and citizenship requires deepening students' understanding of diversity and difference. U.S. higher education institutions must seek ways to bridge the historic gap between internationalization and multiculturalism as a means of addressing some of the moral imperatives of these times.

Reflections on the Marxist legacy which poses challenges in terms of the state, democracy and citizenship to confound the Western triumphalism which greeted the collapse of historical Marxism. It remains necessary to construct a 'New International' capable of addressing times, and worlds, that are so profoundly out of joint.

Jurisdiction — Personal — Over nationals — Re-entry by national into own country without valid passport — Whether national subject to criminal prosecution — Consistency of such prosecution with United States Constitution — Right to return to country as inherent in concept of citizenship — The law of the United States of America.

С 2006 г. в Российской Федерации реализуется Государственная программа содействия добровольному переселению зарубежных соотечественников на территорию России. В статье на основе социологического подхода определено отношение переселенцев к реализации программы в сибирских регионах, что позволяет провести комплексный анализ функционирования Госпрограммы не только с точки зрения государства, но и переселенцев как объекта российской политики переселения соотечественников. ; After the Soviet Union's collapse, the Russian Federation faced the task of protection and support of Russian and Russian-speaking population of the former Soviet republics that faced the threat of loss of ties with Russia as a homeland in the conditions of the course to build new nation-states, the acquisition of the minority status and the growth of anti-Russian and anti-Russian sentiments. There are two directions of the state policy in this sphere: the assistance to migration to the territory of Russia and the establishment of interaction with compatriots and their organizations residing abroad. Since 2006, Russia implements the state program to assist the voluntary resettlement of compatriots living abroad to the Russian Federation. By the beginning of 2015 55 Russian subjects have become parties to the program, among them the 9 regions of the Siberian Federal District. The aim of the program is the mutually beneficial use of the potential of compatriots and regions to address regional socio-economic and demographic problems. On the basis of the programs of the SFD subjects, it can be concluded that the initial expectations of interest in the resettlement of compatriots in Russia were high, which is reflected in the planned indicators in the following edition of the program. The purpose of this article is to identify the factors of attraction of the state program for compatriots, as well as the difficulties that occur when moving to the territory of the Siberian Federal District. To achieve the goal the author conducted a survey among 100 persons in the regions of the Siberian Federal District and analyzed interviews with settlers in the Russkiy mir [Russian World] journal. Based on the data sources it can be concluded that, in spite of the shortcomings in the mechanism of the program implementation, compatriots evaluate it positively as an opportunity to return to Russia and get Russian citizenship in simplified terms. Despite this, settlers note there are serious disadvantages associated with the flaws of the program (especially in the field of information support of both the people and the host country, as well as in registration and housing search). Insufficient is, firstly, the federal government's role in addressing these issues, and, secondly, the use of the experience of other regions (for example, on the establishment of a temporary accommodation center). Even given the fact that the program is not a program of repatriation, but only of facilitating resettlement, its qualitative improvement will help enhance the attractiveness (which is especially important for the SFD regions characterized by migration loss) and overall optimization of its practical implementation.

In the last two decades, concern for environmental issues has become a regulatory concern at the international and national levels. Many methods have been developed to reduce negative impacts on business activities, including Material Flow Cost Accounting (MFCA) technology that shows an increasing trend among companies and Micro, Small, and Medium Enterprises (MSMEs) in developing countries. The benefit of MFCA technology is its superiority in identifying material losses (harmful products) during production. At the same time, this is known at the end of the process in the conventional accounting system. Then by implementing MFCA technology, business people can take initiatives to reduce material losses and achieves resource efficiency. In addition to efforts to reduce material losses, MFCA technology will encourage business-enhancing practices by reducing costs, reducing carbon emissions, and increasing operational efficiency. This Community Service Program aims to provide training on sustainable business principles by applying MFCA technology for MSME Entrepreneurs at Bina Amanah School of Entrepreneur Cordova in South Tangerang, Banten Province. Using the action research method increases participants' knowledge after the MFCA training.

In the empirical literature, large and abrupt declines in capital inflows, or sudden stops, typically hit asset markets and generate output losses in the receiving countries. The significant decrease in capital flows to emerging markets in 2018 is a unique opportunity to test this premise. Using Indonesian data, we found that the sharp decline in capital inflows for over two consecutive quarters in 2018 had an adverse impact on the currency, equities, and bond markets, but no discernible output loss was recorded. Real GDP growth remained resilient throughout 2018 and held broadly steady at around 5 percent in the first quarter of 2019. Furthermore, asset markets rebounded quickly, regaining most of the losses incurred by March 2019. We attribute this resilience to Indonesia's strong macroeconomic fundamentals and responsive fiscal and monetary policies. We argue that to sustain this resilience in the years to come, complementary structural reforms to boost export-oriented FDI would be needed. The 2020 COVID-19 global pandemic has put the emerging economies to the test again, with a possibly more significant impact. We will revisit our analysis in the future in the aftermath of the pandemic.

Environmental managers face major challenges related to project implementation and communicating the significance of those projects to the public. Effective communication can mitigate public opposition or increase support for specific projects and increase public and political support for environmental management more generally. In this study, we evaluate which types of benefits or losses environmental managers should communicate and how to frame those attributes to achieve greater public support. To do so, we field a survey experiment that presents the benefits of an invasive species management project, utilizing a two (economic, ecological) by two (gain, loss) factorial design as well as a control message. Ecological messages lead to significantly more support for invasive species management than economic messages, and loss frames are more effective than gain frames. We also find that treatment responses differ across several covariates including political ideology and environmentalism. These results indicate that the public is more concerned with managing invasive species for intrinsic environmental worth than economic benefit and that preventing further environmental degradation is more motivating than promoting additional environmental gains.

This paper presents the basic principles for the integration of the water and carbon footprints cost into the resource and environmental costs respectively, taking the suggestions set by the Water Framework Directive (WFD) 2000/60/EC one step forward. WFD states that full water cost recovery (FWCR) should be based on the estimation of the three sub-costs related: direct; environmental; and resource cost. It also strongly suggests the EU Member States develop and apply effective water pricing policies to achieve FWCR. These policies must be socially just to avoid any social injustice phenomena. This is a very delicate task to handle, especially within the fragile economic conditions that the EU is facing today. Water losses play a crucial role for the FWC estimation. Water losses should not be neglected since they are one of the major "water uses" in any water supply network. A methodology is suggested to reduce water losses and the related Non Revenue Water (NRW) index. An Expert Decision Support System is proposed to assess the FWC incorporating the Water and Carbon Footprint costs.

Prompt Corrective Action (PCA) provides a more efficient mechanism for dealing with problem banks operating in more than one European country. In a PCA framework, a bank's losses are likely to be substantially reduced. This reduction in the losses to deposit insurance and governments will improve the problem of allocating those losses across the various insurance schemes and make it less likely that any deposit insurer will renege on its obligations in a cross-border banking crisis. This paper explores the institutional changes needed in Europe if PCA is to be effective in resolving the cross-border agency problems that arise in supervising and resolving cross-border banking groups. The paper identifies these changes starting with enhancements in the availability to prudential supervisors of information on banking groups' financial condition. Next, the paper considers collective decision-making by prudential supervisors with authority to make discretionary decisions within the PCA framework as soon as a bank of a cross-border banking group falls below the minimum capital standard. Finally, the paper analyses the coordination measures that should be implemented if PCA requires the bank to be resolved.

This ambitious and engaging new account of independent India's struggle to overcome famine and malnutrition in the twentieth century traces Indian nation-building through the voices of politicians, planners, and citizens. Siegel explains the historical origins of contemporary India's hunger and malnutrition epidemic, showing how food and sustenance moved to the center of nationalist thought in the final years of colonial rule. Independent India's politicians made promises of sustenance and then qualified them by asking citizens to share the burden of feeding a new and hungry state. Foregrounding debates over land, markets, and new technologies, Hungry Nation interrogates how citizens and politicians contested the meanings of nation-building and citizenship through food, and how these contestations receded in the wake of the Green Revolution. Drawing upon meticulous archival research, this is the story of how Indians challenged meanings of welfare and citizenship across class, caste, region, and gender in a new nation-state