As you now know, these payments are going into an escrow reserve account
. The amount paid each month is an estimate.
The money deposited in the reserve account
will not be disposed of unless authorised by the Cabinet, pending the approval of the General Organisation for Social Insurance (Gosi).
Elsewhere, as an interim measure to stave off a liquidity crunch, the Company procured bank guarantees (BG) amounting to MYR 90 million on 27 January 2015 to substitute the cash reserves in its finance service reserve accounts
Proceeds will be used to repay a line of credit ($92.1 million) to complete the extension and a stretch between Gonzalillo and Pedregal ($73.9 million), improvement in technology platforms and a new toll system ($ 15.5 million) and for the creation of a reserve account
for debt services ($25 million)/ The rate of 6% paid on the issuance with a ten year term is higher than that offered in emissions that were made to finance the purchase of the North and South corridors.
There is nothing uncertain about the fact that this obligation has been incurred at the date of the plan's financial statements, once a positive balance in the premium stabilization reserve account
"The source of this amount is "deposits of Foreign Exchange Reserve Account
" which was in EGFI's trust for backing up its bond issuance," Shah Hamed added.
The Department of Energy stated that it has recovered USD21m from the automaker's reserve account
, and it received the cash on April 11, this year.
Furthermore, the NAO has completed the audit of Future Generation Reserve Account
for 2011 and has sent the audit opinion to the of Finance Minister, who is also the chairman of the Future Generation Reserve Council.
That prompted media speculation about the possible need for a cash infusion to FHA's Capital Reserve Account
, Galante said.
The AAAIS initial issue rating on the series 1 sukuk takes into account the structural protection stemming from the requirement for Institut Jantung Negara to deposit 20% of payments received from the government into a trustee-controlled revenue reserve account
Part of the cash distribution is attributable to the release of a portion of the Trust's cash reserve account
, totalling USD964,303.
Kushner funded the shortfall on monthly debt payments out of a reserve account
but that account ran dry last month, according to the Journal, leaving Kushner open to default.
That money goes into the loan-loss reserve account
at the financial institution," Deanda explained.
The money required be drawn from the industrial reserve account
. The county will fund Small's contribution until an actual land acquisition arrangement is reached with him.
The higher book values of each reserve account
or any combination of several reserve accounts
maintained by Japanese firms may increase the opportunities of managers to smooth earnings (Darrough et al., 1998).