The latest released minutes of the Exchange Fund Advisory Committee reveal that the panel rejected a proposal to dollarize the "aggregate balance" or the total of the clearingaccounts banks maintain with the Monetary Authority, the de facto central bank.
Customer accounts have been moved to other clearing firms, but not all positions or monies have accompanied the move and that might have caused accounts that do not have sufficient margin to sell other assets to top off the accounts.
Clearing of land for agriculture, logging, and other extractive industries accounts for as much as one third of some countries' total carbon emissions.
He had routed some proceeds through Bear accounts, but the firm--which just settled unrelated civil charges of clearing trades for a sleazy brokerage--says the individuals weren't its clients and hence it owed no duty.