Sentence examples for explicit liabilities from inspiring English sources
Administration officials plead that this would simply be an accounting change turning implicit liabilities (promises to pay future pensions) into explicit liabilities (government bonds).
Thus, pension obligations will be converted into explicit liabilities (think of a family's obligation to pay for grandma's retirement being added to its mortgage).
That's debt whether explicit liabilities, commitments and contingencies, or implicit exposure that produces a debt to assets ratio of 32-to-1, roughly similar to the late and not-so-great Bear Stearns and the quickly departed Carlyle Credit Corp., which lost a bundle for its well-heeled investors.
Why not also make all short-term deposits, which function much like currency, the explicit liability of the government?
The bigger the accounts, the greater the borrowing.Advocates of individual accounts point out that this borrowing is simply turning an implicit liability (the government's promise to pay future pensions to workers) into an explicit liability (increased government borrowing today).
But this standard must include explicit assumption of liabilities, including prefunding of these liabilities.
What surplus?A priority for governments should be to reform budget accounts to make future pension liabilities explicit, and so force policy makers to focus on the long-term consequences of current policies.
Further, he argued, the exclusive control does not create liability; only the explicit language of statutes and regulations could allow monetary damages.
The government is merely reducing its implicit future liabilities and increasing its explicit current liabilities.
A spokesperson for the student union letting agency said: "We will look into making the summer liability for graduates more explicit now that this has been raised".
Argentina and Chile have reformed their pension schemes from a pay-as- you-go system to a capitalization system, meaning the unfunded liability is made an explicit part of the national debt.
