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Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 149834478X
Category : Business & Economics
Languages : en
Pages : 47
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Book Description
FY 2015 net income is now projected at SDR 1.5 billion. Lending continues to be the main source of income, although advance repurchases have lowered projected lending income in FY 2015 by SDR 0.3 billion. Investment income remains constrained in the low interest environment but the returns were somewhat stronger than projected. A revaluation of pension obligations, required under accounting standard IAS 19 and stemming from a further fall in the discount rate, is projected to entail an adjustment to FY 2015 net income of about SDR 0.8 billion. The paper proposes that GRA net income of SDR 1.3 billion, which excludes the retained earnings of the gold endowment, be placed to the special reserve.* After the placement to reserves, precautionary balances are projected at SDR 14.0 billion at the end of FY 2015. The paper further proposes to retain currencies available for transfer to the Investment Account in the GRA, pending completion later this year of the Board’s review of the mandate for the Fixed-Income Subaccount.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 149834478X
Category : Business & Economics
Languages : en
Pages : 47
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Book Description
FY 2015 net income is now projected at SDR 1.5 billion. Lending continues to be the main source of income, although advance repurchases have lowered projected lending income in FY 2015 by SDR 0.3 billion. Investment income remains constrained in the low interest environment but the returns were somewhat stronger than projected. A revaluation of pension obligations, required under accounting standard IAS 19 and stemming from a further fall in the discount rate, is projected to entail an adjustment to FY 2015 net income of about SDR 0.8 billion. The paper proposes that GRA net income of SDR 1.3 billion, which excludes the retained earnings of the gold endowment, be placed to the special reserve.* After the placement to reserves, precautionary balances are projected at SDR 14.0 billion at the end of FY 2015. The paper further proposes to retain currencies available for transfer to the Investment Account in the GRA, pending completion later this year of the Board’s review of the mandate for the Fixed-Income Subaccount.
Author: International Monetary Fund. Finance Dept.
Publisher: International Monetary Fund
ISBN: 1498346774
Category : Business & Economics
Languages : en
Pages : 49
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Book Description
The Fund’s total net income for FY 2017, including surcharges, is projected at about SDR 1.7 billion or some SDR 0.7 billion higher than expected in April 2016. This mainly reflects the IAS 19 adjustment (relating to reporting of employee benefits), which is expected to contribute about SDR 0.4 billion to net income, and higher investment income. Lending income is expected to be modestly lower than the April 2016 estimates. The paper recommends that GRA net income of SDR 1.2 billion for FY 2017 (which excludes projected income of the gold endowment), be placed equally to the special and general reserve. After the placement of GRA FY 2017 net income to reserves, precautionary balances are projected to reach SDR 16.4 billion at the end of FY 2017. The paper further proposes to transfer currencies equivalent to the increase in the Fund’s reserves from the GRA to the Investment Account. In April 2016, the margin for the rate of charge was set at 100 basis points for the two years FY 2017 and FY 2018. The margin may be adjusted before the end of the first year of this two-year period (i.e., FY 2017) but only if warranted by fundamental changes in the underlying factors relevant for the establishment of the margin at the start of the two-year period. Staff does not propose a change in the margin. The projections for FY 2018 point to a net income position of SDR 0.7 billion. These projections are subject to considerable uncertainty and are sensitive to a number of assumptions.
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Category :
Languages : en
Pages :
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Book Description
Author: Internationaler Währungsfonds
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
FY 2014 net income, including surcharges, is projected at SDR 2.7 billion. Lending income remains high, while investment income continues to be constrained by the historically low global interest rates.
Author: International Monetary Fund. Finance Dept.
Publisher: International Monetary Fund
ISBN: 149834531X
Category : Business & Economics
Languages : en
Pages : 8
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Book Description
This paper reports the Fund’s income position for FY 2016 following the closing of the Fund’s accounts for the financial year and completion of the external audit. FY 2016 net income, including income from surcharges, was unchanged from the amount of SDR 998 million projected in April. GRA net income for FY 2016 of about SDR 1 billion has been placed to the Fund’s reserves, further strengthening the Fund’s precautionary balances, which reached SDR 15.2 billion at the end of FY 2016. Following the completion of the Executive Board’s review of the investment strategy for the Fixed-Income Subaccount and consistent with the discussions in April, currencies totaling about SDR 3.7 billion will be transferred to the Investment Account during September and October 2016. This comprises currencies equivalent to the net income retained in the GRA in FY 2014 (SDR 1.2 billion) and FY 2015 (SDR 1.5 billion), together with the currencies equivalent to the FY 2016 GRA net income of about SDR 1 billion.
Author: International Monetary
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 51
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Book Description
This paper updates the projections of the Fund’s income position for FY 2022 and FY 2023–2024 and proposes related decisions for the current financial year. The paper also includes a proposed decision to set the margin for the rate of charge for financial years 2023 and 2024.
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Languages : en
Pages : 0
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Author: International Monetary Fund. Finance Dept.
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 49
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Book Description
This paper updates the projections of the Fund’s income position for FY 2024 and FY 2025-2026 and proposes related decisions for the current and the following financial years. The paper also includes a proposed decision to keep the margin for the rate of charge unchanged until completion of the review of surcharges, but until no later than end FY 2025, at which time the Board would set the margin for the rest of FY 2025 and FY 2026. The Fund’s overall net income for FY 2024 is projected at about SDR 4.4 billion after taking into account pension-related remeasurement gain and estimated retained investment income of the Endowment Account.
Author: International Monetary Fund. Finance Dept.
Publisher: International Monetary Fund
ISBN: 1498344224
Category : Business & Economics
Languages : en
Pages : 8
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Book Description
This paper reports the Fund’s income position for FY 2015 following the closing of the Fund’s accounts for the financial year and completion of the external audit. FY 2015 net income, including income from surcharges, amounted to SDR 1.6 billion or about SDR 133 million more than estimated in April. The bulk of this difference reflects a smaller net loss in the valuation reported under the revised accounting standard for employee benefits (IAS 19). In accordance with decisions taken in April 2015, investment income from the Fixed-Income Subaccount of SDR 84 million has been transferred from the Investment Account to the GRA. GRA net income for FY 2015 of SDR 1.5 billion has been placed to the Fund’s reserves, further strengthening the Fund’s precautionary balances, which reached SDR 14.2 billion at the end FY 2015.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1513577921
Category : Business & Economics
Languages : en
Pages : 43
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Book Description
This paper updates the projections of the Fund’s income position for FY 2021 and FY 2022 and proposes decisions for the current and next financial year. The Fund’s overall net income for FY 2021 is projected at about SDR 4.1 billion, higher than both the interim estimate of SDR 3.2 billion and the April 2020 estimate.
