Comment Detail

Comment

The only office that answers is the Treasury sometimes you guys forget about it so. I'm trying to complete all this for my phone. I am not capable of using a computer right now. According to the Treasury who controls the federal reserve of a keep getting these notices from or SEC, I would start off by saying. The federal reserve job is control the money. Well, the money's gone, so. Set the complaints about me.
Are literally misunderstood things. Because I don't get to unquick enough before you react. Then I have to find out what the problem is. Tried doing that without a computer. I have the proper legal tinder in documentation. That would actually bring money in.
Did you do a good job or bad job? The SEC Your boss carry, has it been to work since January? Maybe that's the reason.
Treasury actually fixed the phone up and gets back, it helps me out. Now I'm not getting into the proper terms and politics of this. I'm trying to do what I'm told if I had a computer. This would be over a long time ago.
Destroyer IMF. BOx 14. Establishing Contingency Reserves and Fiscal Risk Funds
In establishing contingency reserves, a government should stipulate clear and stringent conditions
for the use of such funds to increase transparency and avoid abuse:
line This Amount: will ministry The suffice could for general try to immediate contingency access the liquidity reserve funds needs to should after implement be risks set a at a policy materialize. small that fraction With has not too of been total large a approved expenditure. reserve, by a the legislature. Authorization: Various modalities for authorization can be used. In some countries, requests to use contingency funds must be submitted to the legislature for approval; in others, the legislature
toapproves a standing authorization to use the funds, and the executive branch decides when and
how the funds are used. Transparency: An official declaration should be required before the contingency reserve can be
used. Afterward, the ministry of finance should disclose expenditures taken from the reserve in
budget reports and classify them according to their purposes and economic natures.
When establishing a fiscal risk fund, governments should operate well- designed framework:
The fund should be consolidated with budget information to allow for a proper assessment of the
overall fiscal situation. At a minimum, the fund balance should appear in financial statements, and
drawdowns from the fund should appear in budget execution reports.
There should be a standing appropriation that allows for spending immediately after certain
trigger events, such as an executive declaration of a disaster emergency.
The fund should generally apply best practice PFM rules to promote transparency. Specifically,
it should have clear rules governing the use of resources, follow normal government accounting
standards, prepare and publish audited financial statements, and define its governance rules.
However, procurement rules should be adjusted to allow for immediate access to the resources
Drawdowns should be authorized only above a minimum level of fiscal cost, as use of the fund
should be limited to responding to risk materialization with large fiscal impacts. Budget contingen-
cies should cover smaller expenditure needs. The size of the fund should be based on a calibration of the fiscal impact of the realization of the macroeconomic and tail risks considered. The fund needs to cover only some of the expected
medium- to long-term fiscal costs, as additional longer-term financing can often be arranged after
the event. In addition, too much cash accumulated in a fund might tempt policymakers to use it for
other purposes The fund's financial investment strategy should aim to maintain a high degree of liquidity, given the
potential urgency of accessing X. In some cases, the fund might best i invest in liquid foreign assets
because of the risk of stress in domestic financial markets when fiscal riskS materialize. Such repatri-
at a t time of economic ation ofo offshore investments would alsO strengthen the balance of
weakness. Only a small portion of the fund should be kept asad domestic payments bank
deposit. Since these deposits are likely to be withdrawn during times of economic distress, large withdrawals could
put additional strain on the domestic banking system precisely when the system is already facing
heightened stress.