Issues discussed have included the misappropriation of assets, immunities, non conviction based asset confiscation, movement of funds, tracing and trafficking of assets, mutual assistance, restraint, confiscation and return of assets.

However, these flows tend to be more volatile than official flows and pro cyclical.

20. At 31 December 1997, the current assets of UNICEF, amounting to 716 million, exceeded current liabilities of 528 million by 188 million, disclosing a liquidity ratio of 1.36 1.

The Board s computation of the liquidity ratio of the greeting card and related operations at 30 April 1997 disclosed that its current assets were 4.3 times the current liabilities, thus showing a favourable position.

Concerned about the excessive volatility of speculative short term capital flows and the contagion effects in financial markets in times of crisis,

But, over time, the longer central banks create liquidity to suppress short run volatility, the more they will feed price bubbles in equity, bond, and other asset markets. As more investors pile into overvalued, increasingly illiquid assets such as bonds the risk of a long term crash increases.

The availability of the balance of unexpended resources depends on the degree of liquidity of the net assets held.

In reorganization proceedings also, it may be in the best interests of the estate to sell encumbered assets of a similar nature to provide needed working capital.

The flows generated through new and innovative mechanisms must be additional and should complement the regular flows, including foreign direct investment.

By offering to lend freely against collateral, they liquify assets and prevent banks from being forced to unload loans or securities at fire sale prices. Anticipating such liquidity insurance, banks can make illiquid long term loans or hold other illiquid financial assets.

In addition, although net direct investment flows have become for developing countries the most stable external source of finance for productive investment, they have shown pro cyclical behaviour in recent years.

83. The liquidity ratio determines an organization s ability to honour its short term liabilities from short term assets.

Policy makers were reminded that they need to be concerned not only with the overall size of financial transfers but also with the composition of flows since some flows are more likely to be sustained than others.

In UNHHSF, the ratio of current assets of 17.4 million to current liabilities of 12.0 million was 1.46 to 1.

Capital flows and commercial bank lending had been cyclical.

Article 46 The Company shall analyze the cash flow of the current year, including the cash flow from operating activities, investment activities and fund raising activities and the major influencing factors.

There is also a need to promote favourable conditions for achieving international stability in private capital flows and to prevent the destabilization arising from swift movements of private capital flows.

A further amount of 1,117,840 was written off during 2004 in respect of non liquid assets.

Instead, the profitable carving up of healthy companies has freed up capital to flow to intangible assets, houses and other forms of real estate, fueling a speculative crisis. In short, the global economy replete with get rich quick schemes, overpaid bosses, and corporate fraud has lost its moral bearings.

Identification(s) of the person of entities whose assets have been frozen A description of the nature of the assets frozen (i.e., bank deposits securities, business assets, precious commodities, work of art, real estate property and other assets) The value of assets frozen.

A description of the nature of the assets frozen (i.e. bank deposits, securities, business assets, precious commodities, works of art, real estate property and other assets) The value of assets frozen

Article 84 The Company shall analyze the quality and liquidity of its assets as well as its liability situation, and make a general disclosure thereof.

(c) At 31 December 1997, the ratio of current assets to current liabilities was 1.46 1, below the recommended level of 2 1

The fact that there is even a small liquidity crunch for banks implies larger liquidity crunches for less intensively regulated financial institutions, and even greater liquidity crunches for manufacturing and real estate companies. It is hard to imagine that manufacturers are not now postponing orders of capitals goods, and that new home sales in America are not dropping right now.

Liquid assets are assets that resemble cash, because they can easily be converted into cash and used to buy other assets. The idea seems to be that there are a lot of liquid assets lying around, and that they are being used to get money to bid up the prices of stocks, housing, land, art, etc.

A further amount of 1,117,840 was written off during 2004 in respect of non liquid assets.

(c) Economic resources mean securities of any kind, tangible or intangible, transferable or untransferable, in particular real estate and luxury items, other than assets within the meaning of subparagraph (a)

Massive liquidity injections carried out by the world s major central banks the Fed, the ECB, and the BOJ are neither achieving traction in their respective real economies, nor facilitating balance sheet repair and structural change. That leaves a huge sum of excess liquidity sloshing around in global asset markets.

C. Investment and capital flows

Fostering an enabling environment for development financial flows, including capital flows investment trade

Capital flows

Trade, investment and technology flows play a crucial role in productivity catch up.

(4) As regards tradable financial assets, it is required to separately list the beginning of period and end of period fair value of tradable bond investment, tradable equity instrument investment, financial assets which are specified to be measured on fair value and whose fluctuations are included in the current profits and losses, derivative financial assets and other tradable financial assets.

quot Acknowledging in particular the importance of international police cooperation in the prevention and fight against illicit trafficking in motor vehicles, and the need for rapid exchange of information among countries on the status and origins of motor vehicles,

A second cause lies in the fact that fixed income assets such as government, corporate, and emerging market bonds are not traded in more liquid exchanges, as stocks are. Instead, they are traded mostly over the counter in illiquid markets.

We increasingly hear that the world is awash with liquidity, and that this justifies expecting asset prices to continue rising. But what does such liquidity mean, and is there really reason to expect that it will sustain further increases in stock and real estate prices?

The Liquidity Puzzle

(xii) Mobility

(xii) Mobility

The gains are also not always permanent  women who lose jobs in internationally mobile labour intensive industries face difficulties in obtaining employment in the more capital intensive industries that may replace them.5

Investment and private flows

The problem is that the inherent volatility of financial flows may make the daily changes excessively large.

Capital importing countries should minimize internal risks and instability connected with capital flows.

Article 45 The Company shall analyze the fluidity situation of assets and liabilities during the reporting period, including its major financing channels, short term and long term liability composition, measures taken for maintaining the fluidity level and corresponding management policies and financing ability, contingent issues and their impact on the financial status of the Company.

INCLUDING CAPITAL FLOWS INVESTMENT TRADE