Betekenis van:
bank discount

Voorbeeldzinnen

1. From this, it could be derived that the State loans must have been concluded at a discount from the prevailing inter-bank rates while under normal circumstances corporate unsecured debt pays a credit spread above the inter-bank rates.
2. It argues, lastly, that the very high level of banking commissions allows the bank to subscribe to the underwritten shares at a lower discount than that offered to the public.
3. the operation must not be accompanied by any collateral agreement or implicit agreement whereby the State would exonerate the bank from its obligation if the recapitalisation offer was insufficiently subscribed or grant the bank any special discount on the issue price.
4. The Commission concludes from this that the transaction between Alitalia and Deutsche Bank is in accordance with market conditions for this type of operation and that it does not amount to a discount on the price paid by the bank for the shares that it will be called upon to subscribe.
5. So far as concerns the net liabilities related to the sale of the leased vessels, the French authorities state that, on the basis of certain assumptions, the net sale proceeds are valued, by the specialist broker BRS, at EUR […] million on 30 September 2005 after discount, brokerage commission and financial cost of porterage. Since the savings on tax and bank debts amount to EUR […] million, there remains a balance of bank debts relating to the leased vessels to be reimbursed of EUR […] million.
6. In order to determine the latter interest rate, the Commission notes that the Commission notice on the method for setting the reference and discount rates indicates that the risk premium may be more than 400 basis points above the reference rate ‘if no private bank would have agreed to grant the relevant loan’, which is the situation in this case.
7. In connection with the need to determine the interest rate for a very high risk loan, the Commission notice on the method for setting the reference and discount rates indicates that the risk premium may be higher than 400 basis points above the reference rate ‘if no private bank would have agreed to grant the relevant loan’, which is the situation in this case.
8. The life-cycle cost analysis method uses a real discount rate on the basis of data provided from the European Central Bank and a realistic lifetime for the EuP; it is based on the sum of the variations in purchase price (resulting from the variations in industrial costs) and in operating expenses, which result from the different levels of technical improvement options, discounted over the lifetime of the representative EuP models considered.
9. The operation may be conducted under a principal-based programme i.e. the bank offering this programme is considered the final counterparty, or under an agency-based programme i.e. the bank offering this programme acts only as agent, and the final counterparty is the institution with which the security lending transactions are effectively conducted. Average cost: the continued or weighted average method, by which the cost of every purchase is added to the existing book value to produce a new weighted average cost. Cash/settlement approach: an accounting approach under which accounting events are recorded at the settlement date. Clean price: transaction price excluding any rebate/accrued interest, but including transaction costs that form part of the price. Discount: the difference between the par value of a security and its price when such price is lower than par. Discount security: an asset which does not pay coupon interest, and the return on which is achieved by capital appreciation because the asset is issued or bought at a discount to its nominal or par value. Economic approach: an accounting approach under which deals are recorded on the transaction date. Equity instruments: dividend-bearing securities i.e. corporate shares, and securities evidencing an investment in an equity fund. Exchange rate: the value of one currency for the purpose of conversion to another. Extended Custodial Inventory (ECI) programme: a programme which consists of a depot outside the euro area managed by a commercial bank in which euro banknotes are held in custody on behalf of the Eurosystem for the supply and receipt of euro banknotes.
10. Automated security lending programme (ASLP): a financial operation combining repo and reverse repo transactions where specific collateral is lent against general collateral. As a result of these lending and borrowing transactions, income is generated through the different repo rates of the two transactions i.e. the margin received. The operation may be conducted under a principal-based programme i.e. the bank offering this programme is considered the final counterparty, or under an agency-based programme i.e. the bank offering this programme acts only as agent, and the final counterparty is the institution with which the security lending transactions are effectively conducted. Average cost: the continued or weighted average method, by which the cost of every purchase is added to the existing book value to produce a new weighted average cost. Cash/settlement approach: an accounting approach under which accounting events are recorded at the settlement date. Clean price: transaction price excluding any rebate/accrued interest, but including transaction costs that form part of the price. Discount: the difference between the par value of a security and its price when such price is lower than par. Discount security: an asset which does not pay coupon interest, and the return on which is achieved by capital appreciation because the asset is issued or bought at a discount to its nominal or par value. Economic approach: an accounting approach under which deals are recorded on the transaction date. Equity instruments: dividend-bearing securities i.e. corporate shares, and securities evidencing an investment in an equity fund. Exchange rate: the value of one currency for the purpose of conversion to another. Extended Custodial Inventory (ECI) programme: a programme which consists of a depot outside the euro area managed by a commercial bank in which euro banknotes are held in custody on behalf of the Eurosystem for the supply and receipt of euro banknotes.
11. Average cost: the continued or weighted average method, by which the cost of every purchase is added to the existing book value to produce a new weighted average cost. Cash/settlement approach: an accounting approach under which accounting events are recorded at the settlement date. Clean price: transaction price excluding any rebate/accrued interest, but including transaction costs that form part of the price. Discount: the difference between the par value of a security and its price when such price is lower than par. Discount security: an asset which does not pay coupon interest, and the return on which is achieved by capital appreciation because the asset is issued or bought at a discount to its nominal or par value. Economic approach: an accounting approach under which deals are recorded on the transaction date. Equity instruments: dividend-bearing securities i.e. corporate shares, and securities evidencing an investment in an equity fund. Exchange rate: the value of one currency for the purpose of conversion to another. Extended Custodial Inventory (ECI) programme: a programme which consists of a depot outside the euro area managed by a commercial bank in which euro banknotes are held in custody on behalf of the Eurosystem for the supply and receipt of euro banknotes.
12. The UK authorities have submitted that giving precise estimates of the savings by BE after 2006 would be difficult, as the pre-restructuring fuel supply contracts were planned to end in 2006. Any estimate of the benefit for BE of the changes would therefore have to take account in some way of the benefit to BNFL of the prolongation of the contracts until the end of BE’s plants’ lifetime, which is reflected in the new contracts’ prices. Bearing in mind these uncertainties, the UK authorities have indicated that BE's internal estimate of the cost savings over the lifetime of the plants would be GBP 239 million (undiscounted) and GBP 140 million (discounted at a real rate of 3,5 % [10]). Table 3 shows the effect for BE of changes to BNFL AGR spent fuel contracts, as estimated by the UK authorities, under the same three possible scenarios [11]. The net present value is computed using the UK public sector discount rate of 3,5 % real. This table addresses only the impact of price changes in contracts for fuel loaded on or after the restructuring effective date. Impact of changes in contracts for fuel loaded prior to the restructuring effective date is difficult to quantify, at it would materialise only in the event that BE becomes insolvent. Besides, the benefit for BE of the transfer of title of spent fuel, and liabilities attached to it, to BNFL, is difficult to estimate, according to the UK authorities. The UK authorities have nevertheless submitted that a subjective estimate of the benefit for BE of this transfer of title would be at around GBP 1421 million (undiscounted) and GBP 148 million (discounted at 5,4 % nominal). This benefit is not included in table 3. Table 3 NPV impact of changes to future AGR spent fuel contracts [12] [12](GBP million) NPV Undiscounted total payments Pre-restructuring — Bank case 592 1117 Post restructuring — Bank case 418 558 — Upside case 881 1204 — Downside case 3 4 Savings