Banken for en verden i endring The bank for a ... - BNP Paribas

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Banken for en verden i endring The bank for a ... - BNP Paribas

• glossary

BNL bc BNL banca commerciale (formerly Banca Nazionale del Lavoro).

Bond/debenture Debt security whereby the issuer undertakes to pay the lender a fixed capital sum at a specific future date, plus

twice-yearly or annual interest payments. Interest payments — generally at fixed rates — may vary over the life of

the bond. Debentures are unsecured bonds.

Capital Amount of cash or assets contributed by shareholders, plus any profits, retained earnings or premiums transferred

to the capital account. The capital may be increased or reduced during the life of the company.

Capital increase A method of increasing a company's shareholders' equity. The capital may be increased by issuing new shares for

cash or in exchange for assets, such as shares in another company. Alternatively, it may be increased by capitalising

additional paid-in capital, retained earnings or profits and either raising the par value of existing shares or issuing new

shares without consideration. Existing shareholders may have a pre-emptive right to subscribe for the new shares or

this right may be cancelled. A capital increase may be carried out to give new investors an opportunity to become

shareholders. All capital increases must be authorised in advance by the shareholders, in Extraordinary General

Meeting.

Cash flow Cash generated by operations that can be used to finance investment without raising equity or debt capital.

CDM – Clean Development

Mechanism

In connection with the Kyoto Protocol, mechanisms related to the Clean Development Mechanism and the Joint

Application projects enable States to carry out projects abroad aimed at reducing emissions, and to deduct the

reductions achieved from their own objectives in relation to the Kyoto Protocol. Clean development mechanism

projects can take place in developing countries, where quantitative objectives do not apply. These mechanisms

are based on the principle that greenhouse emissions are a global problem and that the geographic location of the

place where the reductions are achieved is of secondary importance. Reductions can be achieved in the places

where costs are lowest.

CECEI Comité des Établissements de Crédit et des Entreprises d'Investissement: Committee headed by the Governor of the

Banque de France responsible for monitoring the proper operation of the French financial and banking system.

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GLOSSARY

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