Traduction de «Capitaux procurés aux conditions du marché » (Français → Anglais) :

It also stresses the need for better market conditions: improved access to the internal market, as well as international markets will help the recovery of economic growth, Actions envisaged include fostering entrepreneurship, the wider use of standardisation, protecting and promoting intellectual property rights, improving access to raw materials, better access to finance and capital and greater investment in human capital.

It also stresses the need for better market conditions: improved access to the internal market, as well as international markets will help the recovery of economic growth, Actions envisaged include fostering entrepreneurship, the wider use of standardisation, protecting and promoting intellectual property rights, improving access to raw materials, better access to finance and capital and greater investment in human capital.

According to TNT, the transfer into the escrow account by the UK authorities acts as a guarantee towards the pension trust, of which the benefit to Royal Mail would be that it is able to recover the deficit over a longer funding period and to use their own funds to strengthen their business. If Royal Mail had had to fund the deficit at once, depending on whether the pension liability in the balance sheet would already have reflected such deficit, they would have been confronted with a substantial loss and reduction of equity and, perhaps more importantly, a reduction of funds. In normal market conditions, if a company needs funds, it can ...[+++] borrow from the debt market or raise additional capital in the equity markets. In Royal Mail’s case, it appeared there was third possibility, namely, agreeing to a more lenient price cap in its price control with the regulator. Prices could increase by a substantial level without reaching abusively high levels. As Royal Mail’s consent was required to give effect to the price control, this was a matter within the power of Royal Mail and an option which was known to its shareholder.

1. The Board of Governors may, acting by a qualified majority on a proposal from the Board of Directors, decide that Member States shall grant the Bank special interest bearing loans if and to the extent that the Bank requires such loans to finance specific projects and the Board of Directors shows that the Bank is unable to obtain the necessary funds on the capital markets on terms appropriate to the nature and purpose of the projects to be financed.

(7) "Capital market imperfections". The usual providers of capital (banks, equity markets) may provide capital sub-optimally when they have imperfect information on the quality of the borrower or there is an inadequate basis to secure the loan.

Its operations shall be on market-related terms and conditions and shall avoid creating distortions on local markets and displacing private sources of finances; and