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The cost of marking down — let alone writing off — sovereign debt would be much greater.
Merrill said that the emerging markets' losses it announced yesterday included the cost of marking down its inventories of securities to market value, allowances for its own exposure to third parties with losses in emerging markets and losses from its own trading.
In one study, the cost of marking the open-ended items was 300 times that of the multiple-choice items [ 49]; the relative cost of scoring the papers may exceed a factor of 1000 for a large examination [ 50].
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All eight Chez Gerard sites are to be rebranded as Brasserie Blancs at a cost of £4m, marking the end of a brand that has a 30-year history.
The Ariane 4 rockets, developed at a cost of $575 million, marked a major advance in propulsion capability.
Awarded five stars by reviewers on the Times and the Telegraph, it is a forensic examination of the politics and personal dramas negotiated by the royal family and, at a rumoured cost of £100m, marks the American subscription service's big push into new audiences.
The sensitivity was more than doubled by including brisk walking in the scoring (GPPAQ-Walk), but at the cost of a marked reduction in specificity, suggesting that modifying GPPAQ to include walking in this age group did not improve its overall performance as a screening test.
News that the government accepts the need to cap the cost of credit marks the culmination of months of organising across the country to shine a spotlight on the unregulated practices of high-cost credit companies.
She was laid down in 1901 and commissioned in October 1904, at a cost of 23,983,000 marks.
She was launched on 27 June 1903 and completed on 5 April 1906, at the cost of 15,345,000 marks.
Yorck was launched on 14 May 1904 and completed on 21 November 1905 at a cost of 16,241,000 marks.
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