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That is because the Council required that several million-dollar letters of credit held by the Democratic National Committee from a group of wealthy civic leaders backing the convention must be cashed before any of the new city money is spent.
His filing also shows he has up to $95 million in borrowed money, much of it in the form of unsecured lines of credit held jointly with his father, from lenders including Deutsche Bank and one of Israel's largest banks, Israel Discount Bank.
All told, by escaping such contracts, Williamson has freed up $600 million in credit held by counterparties as collateral.
Social credit held that the poverty of the Great Depression was in part the fault of bankers, who kept the cost of credit, and by extension of production, high.
The ordinance passed by the council cites information from the Securities and Exchange Commission showing that the bank has supplied $347 million in credit to the companies building the pipeline and administers a $3.7-billion 3.7-billiondit heliney Energy Transfer Partners, amofg other investments.
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The Canadian crooner, to his credit, holds his hands up as to his motives: "I am the most festive sap.
And as long as their credit holds out, they can shop at Tiffany's, Waldenbooks and Record World.
This could create a serial shock to the system as reinsurers default on their collateral, leaving the banks that issued letters of credit holding the bag for billions in unexpected losses.
While digital credit holds great promise to improve the financial lives and welfare of these consumers, its use may pose serious risks including over-indebtedness, identity theft, and fraud, especially in unregulated (or under-regulated) markets.
Interlinking weather index insurance with credit holds particular promise (Shee and Turvey 2012; Carter 2009; Hess and Syroka 2005; McIntosh et al. 2013).
Lawson, to her very great credit, holds her own in every scene.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com