Interest bearing bank deposits

Cash in interest bearing deposits

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.

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

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

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

Cash at banks Interest bearing deposits Held by imprest holders b. Inter fund balances receivable comprise

(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.

(i) Cash and term deposits represent the total of all cash balances. The amount of 1,181,673 ( 895,817 in 1995) includes 1,169,480 ( 732,628 in 1995) held in interest bearing deposits

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

Funds on deposit in interest bearing bank accounts, time deposits and call accounts are shown as cash and term deposits as they are all placed within a 12 month period in line with the United Nations investment policies and guidelines.

(vii) Interest income includes all interest and related investment income earned on invested funds, various bank accounts and time deposits

(vi) Interest income includes all interest and related investment income earned on invested funds, various bank accounts and time deposits

(x) Interest income includes all interest and related investment income earned on invested funds, various bank accounts and time deposits

9. The funds held in cash at 31 December 1997 amounted to 66.5 million, including interest bearing bank deposits of 65.1 million.

(j) Funds on deposit in interest bearing bank accounts are shown in the statement of assets and liabilities as cash and term deposits

Funds temporarily available, over those needed for immediate requirement, held in short term, interest bearing deposits and ready to be drawn down when needed.

The major items are 47,680,000 in interest on funds held in interest bearing deposits and in current accounts with banks and 12,604,000 in adjustments of payable related to the prior period s budget.

The aggregation of all the funds of the organization, including coins, bank notes, cheques, balances in current and call accounts, saving accounts and interest bearing deposits.

Interest bearing accounts

61. UNDP operates established procedures and controls for its management of investments, based on the objectives of achieving safety of deposits, flexibility to meet monthly liquidity requirements, and maximization of income. UNDP invests monies temporarily surplus to its operational requirements in a number of interest bearing accounts. The bulk of its investments were in time deposits and in bonds and notes, primarily United States dollars.

3. The cash and investment figures shown in the financial statements represent operational cash held at Headquarters and at other offices and projects outside New York, as well as interest bearing bank deposits and other investments.

At the time of the audit, it was invested in three month term deposits earning interest income at a rate of approximately of 5.75 per cent per annum.

(vi) Cash and term deposits comprise funds on deposit in interest bearing bank accounts, certificate of deposits and call accounts. They are shown in the statements of assets and liabilities as cash, and apart from changes in value arising from the retranslation of currencies as provided for in paragraph (e) above, all amounts are stated at cost

Income on deposits Estimates for income on deposits are based on anticipated interest earnings on cash balances in the General Fund, Working Capital Fund, and Operational Budget Account for Support Costs.

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

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.

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.

(d) Large balances in non interest bearing accounts (Abidjan, Kinshasa, and Manila)

Interest income is from cash and term deposits is recorded on the an accrual basis during the financial period.

An amount of 416 million is held in first class banks, comprising 398 million in interest bearing time deposit accounts and 18 million in current bank accounts.

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

(i) Cash and term deposits comprise funds on deposits, certificate of deposits and call accounts

Time between interest changes

Deposits

Following the opening of the Bank, 300 new accounts were opened, generating 2 million in bank deposits. The Bank started to offer services that were not previously available, including a competitive interest rate on deposits and bank transfers.

Given that the deposits, consisting of numerous individual payments, were made over a period of time between July 1990 and July 1991 and that the bulk of the deposits were made between July 1990 and January 1991, the Panel fixes 15 October 1990 as the date from which interest on the total sum awarded will be calculated.IV. RECOMMENDATIONS

Outstanding deposits

41. As at 31 December 1997, the organization s call accounts and time deposits were valued at 398,442,000.

Interest due from cash and term deposits made in the financial period but not maturing until future periods is recorded as accounts receivable.

Moreover, ongoing interest rate liberalization which has occurred both openly and surreptitiously means that artificially low borrowing costs have become far more difficult to maintain. Though the People s Bank of China still officially caps interest rates on deposits, commercial banks in cooperation with nonbank financial institutions, especially trust companies are using wealth management products to attract deposits with de facto free market interest rates.

(a) Types of deposits, geographical location, the metal content of the items of commercial interest and any information on baseline environmental conditions, including biota

(f) Bank deposits

(a) Mineral deposits

OIOS therefore recommended that the account be closed and its balance transferred to the interest bearing convertible account.