Rule 107.4

It was explained that such receivables involved single, large or small amount, claims of depositors against the depositary institution.

The aggregate of accounts receivable, advances and deposits as at 31 December 2003 totalled 7,109,934.

In this type of financing, it is also common for the lender to obtain a security right in the bank account into which customer payments (i.e. the proceeds of inventory and receivables) are deposited.

(i) Cash and term deposits comprise funds on deposit in interest bearing bank accounts, certificates of deposit and call accounts

It was suggested that the list should include, in addition to receivables arising from deposit accounts, receivables arising from investment securities, repurchase agreements, wire transfers, swaps and cheque collection systems.

Interest income is based only on amounts received and accrued from cash and term deposits relating to the financial period.

The interest income is determined by the interest rates on United States dollar call accounts and short term deposits and the cash balance maintained by UNDCP.

Interest income accrued from cash and term deposits not maturing until future periods is recorded as accounts receivable.

Because the revolving loan structure matches borrowings to the borrower's cash conversion cycle (that is, acquiring inventory, selling inventory, creating receivables, receiving payment and acquiring more inventory to begin the cycle again), this structure is, from an economic standpoint, highly efficient and beneficial to the borrower, and helps the borrower to avoid borrowing more than it actually needs.

All funds received are deposited into the Tribunal's bank accounts, including those under special account arrangements (see note 6), and reflected as cash holdings.

33. A backlog situation currently exists in processing of inter office vouchers and their reconciliation as well as for applying deposits and credits to receivables.

Distinction between loans and deposits

(j) Funds on deposit in interest bearing bank accounts, certificates of deposit, time deposits and call accounts are shown in the statements of assets and liabilities as cash.

Deposits

Deposit

7. Receivables financing assignment of receivables.

6. Receivables financing assignment of receivables.

Funds on deposits in interest bearing bank accounts, certificates of deposits, time deposits and call accounts are shown in the statements of assets and liabilities as cash and term deposits.

(3)loans and the account receivables and

(3)loans and account receivables.

(1)loans and accounts receivables

Another view was that there was no reason to exclude the assignment of receivables arising from deposit accounts.

(i) as regards receivables, it is required to separately list the details of receivable management fee, other receivables and advanced payments

37. The aggregate of accounts receivable, advances and deposits as at 31 December 1997 totalled 172,905,000, including the accounts of the greeting card and related operations, which totalled 130,074,000.

b Consists principally of loans and deposits.

(b) The declarations referred to paragraph 1 (a) of this Article shall be deposited with the Depositary, who shall immediately inform the High Contracting Parties of any declaration received under this paragraph.

Note 7. Provision for uncollectible contributions receivables

(c) All moneys received shall be deposited in an official bank account as soon as practicable.

Nine out of 10 either cannot save through their 401 plan, decide not to save or don't decide or save too little.

The Working Group next turned to the question whether the assignment of receivables arising from deposit accounts should be covered.

Accounts receivable and accounts payable

Contribution or payments received in advance

(a) Such sums as may be necessary to finance budgetary appropriations pending the receipt of contributions sums so advanced shall be reimbursed as soon as receipts from contributions are available for that purpose

Direct deposit

Manual deposit

Certificate of Deposit

Outstanding deposits

Deposit

I have savings

Taxes, revenues, uncollectible taxes and tax credits

Receivables

Payees

Payee

Payee