They also pledged to freeze assets of terrorists and their organisations and boost airport and aircraft security.
Once that notice is served, Kingfisher Airlines will have 60 days to repay its debt, failing which, the consortium can attempt to take possession of other pledged shares and assets.
WSJ: India's Kingfisher Airlines Comes Under More Pressure From Banks
Also, there are reports that officials have pledged non-transferable assets as collateral, like protected forests.
Please don't take any great comfort from the fact that "only" a fifth of European bank's assets are pledged to borrowers.
On the other hand, a secured bond is a bond in which specific assets are pledged to bondholders if the company cannot repay the obligation.
In Europe many funds found that the assets they pledged as collateral in return for financing from Lehman have become trapped in the bankruptcy process as administrators strain to work out which assets genuinely belong to clients.
ECONOMIST: Where will hedge funds put their business in future?
But the ECB can only lend against the security of assets that are pledged to it by the banks.
My assets were essentially pledged years ago to Hopkins Med, long before Mr. Gates started telling people what to do with their money.
Kingfisher owner Vijay Mallya is struggling to keep the airline afloat and has pledged personal and UB Group assets as collateral against the loans.
Here are the trends, according to the latest annual report from the central bank's central bank, the Bank for International Settlements: a fifth of all European banks' assets were encumbered, or pledged to borrowers, in 2011.
It is particularly important that a mechanism be set up both domestically (at the Federal Reserve or Treasury) and internationally (OECD or the Paris Club) to ensure that the same Russian assets used as collateral are not repeatedly pledged to different Western official and private bank creditors.
They also pledged not to invest in unethical companies, or in Norwegian assets, as that would inflate domestic prices unhelpfully.
Under this rule supervisors should require financial institutions to value assets using a long-term moving average when they are pledged (explicitly or implicitly) as collateral for new credit.
Finally, the SEC pledged to cooperate with appropriate U.S. governmental agencies, including the Treasury Department's Office of Foreign Assets Control (OFAC), to help ensure enforcement of existing U.S. sanctions.
应用推荐