One clear difference, though, is that Liikanen, unlike the UK proposals, allows securities underwriting in deposit banks. This contrasts with the US, even after the 1999 repeal of the Glass Steagall Act s ban on affiliation between banks and companies engaged principally in underwriting securities.

The intention of the reserving State was the crucial issue.

However, it requires planning and reserving the necessary propellant resources to effect the manoeuvre.

And it sits oddly with separating trading and derivatives from deposit banking, since underwriting is akin to selling a large put option, and typically riskier than normal market making. With underwriting on the trading side of the fence, the deposit bank could still supply the service to customers, but as a broker, not as a dealer.

Purchase orders and contracts were sometimes issued without first raising requisitions and reserving necessary funds in the accounts.

The parties appointed the tribunal with Tugu reserving the right to challenge jurisdiction.

Under no circumstances should such bodies take decisions that were binding on reserving States.

(b) No pre underwriting audits or inspections have been undertaken by either the major policy brokers or any of the prospective underwriters.

In such cases, the other parties to the treaty could not be sure of the extent of the reserving State's commitment to the treaty, and they might even have misgivings about the future development of the domestic law of the reserving State.

The responsibility for taking action on an inadmissible reservation should rest with the reserving State.

It must also be borne in mind that States objecting to reservations did not wish to sever treaty relations with the reserving State, but rather to try to keep the reserving State a party to the treaty.

Most importantly, the accumulation of such objections might induce the reserving State to withdraw the reservation.

Objecting States might, inter alia, decide that the treaty would not enter into force between itself and the reserving State.

Compagnie sénégalaise d apos assurances et de réassurances CSAR and 27 other companies v. Roscoe Shipping Co., the Captain of the Ship World Appolo , and the Steaming Mutual Underwriting Association

In the view of the Government of Finland, the unlimited and undefined character of the said reservation leaves open to what extent the reserving State commits itself to the Convention and therefore creates serious doubts about the commitment of the reserving State to fulfil its obligations under the Convention.

They would thus allow the reserving State to take the necessary steps to satisfy its treaty obligations.

It could simply raise an objection without accusing the reserving State of leaving the treaty devoid of substance.

Whether any such reaction amounts to a mere comment, a mere reserving of position, a rejection merely of the particular reservation or a wholesale rejection of any mutual relations with the reserving State under the treaty consequently depends on the intention of the State concerned.

Underwriting had collapsed, and banks were more than ready to get out of the securities business. The Glass Steagall separation of commercial and investment banking simply validated a transition that was already underway.

The question arose as to the ability of the monitoring body to press its view on a reserving State.

In some cases, guarantee arrangements providing for specific financial underwriting of risks from policy or institutional change may be necessary, and may need to be written with all levels of government involved.

However, account must be taken of the will of the reserving State regarding the relationship between the ratification of a treaty and the reservation.

It follows that the Government of France is still reserving to itself the right to carry out atmospheric nuclear tests.

Monitoring bodies could only bring the reservation made by the reserving State to the attention of the other States parties.

50 MFIs have been visited and the most appropriate means of channelling investment to their institutions, i.e. bonds, asset backed securities, potential guarantors or insurance companies underwriting debt documents, etc., have been discussed

If raising the orbit is to be the technique of choice, then it requires planning and reserving the necessary propellant resources to effect the manoeuvre.

The objecting State would thus notify the reserving State of its position in relation to the legal status of the reservation.

that seek common ground while reserving differences, respect one another, and learn from each other's experiences on the basis of a new type of international relations.

87. The Investment Code, the Labour Code and collective agreements contain no provisions reserving certain jobs for women or prohibiting women from access to certain jobs.

In order to promote the universality of treaties, it would be useful to preserve the possibility of further dialogue between the reserving and the objecting State.

Mr. WISSA (Egypt), reserving the right to make a general statement in the plenary Assembly, said that he would abstain from voting.

Also, it was out of the question to give them the power to take decisions that would be binding on reserving States.

However, regardless of the definition given to that criterion, it could always be invoked indiscriminately by reserving States and objecting States in order to justify their positions.

Emphasizes its support of the efforts channeled by Azerbaijan at regional and international levels aimed at protecting and reserving the Islamic cultural values in the territories occupied by Armenia.

People of all countries in the world should uphold the concept of one world, understand each other, seek common grounds while reserving differences,

He agreed with the Commission s conclusion that the rejection of a reservation as inadmissible conferred some responsibility on the reserving State to respond.

The reserving State should, on the basis of consultations, decide whether to maintain or modify the reservation or to withdraw from the treaty.

In the former case, there was evidently no need to exclude the possibility of applying the remainder of the treaty between the reserving State and the objecting State.

Reservations most commonly were construed as actual conditions under which a reserving State would consent to be bound by a treaty and therefore were inseparable from that consent.

Those incentives involved reserving portions of yields from target stocks and allocating the reserves, on a preferential basis, to those vessels that had demonstrated lower by catch mortality.

He refused to entertain the notion that an objecting State could require a reserving State to be bound by the treaty as a whole.

Under normal circumstances, only the reserving State itself was in a position to interpret and explain the nature of its reservation, the reasoning behind it and its compatibility with the treaty.

Outside China, princelings are feeling the heat as well. Not long ago, the United States Securities and Exchange Commission announced that it was investigating JPMorgan Chase s hiring of princelings in Hong Kong, who apparently delivered lucrative underwriting deals for the bank.

In such cases, the objecting State had probably decided that the reserving State should remain accountable to it in respect of the remainder of the treaty.

Furthermore, reserving States should engage in a dialogue not only with the relevant treaty monitoring body but also with the States which had lodged the objection.