Escolar Documentos
Profissional Documentos
Cultura Documentos
E
,FDOOHGE WKLVDIWHUQRRQDQGUHDVVXUHGKLPRIWKH DFWXDOOD\GRZQDQGDQGWKH
&KLHI¶VDVVHUWLRQRIRQO\DSSO\LQJZKDWWKH VHFWRU¶VKDYHLGHQWLILHG DV³RSHUDWLRQDOO\ VRXQG´+HZDV
DOVRDGYLVHGWKDWWKH &RUSVFRQWUDFWRUVDUHQRW WRPRYHIRUZDUGRQDQ\WKLQJZLWKRXW%RUGHU 3DWURO
DSSURYDO
E
E
$VVLVWDQW&KLHI
23$'LYLVLRQ
2IILFHRI%RUGHU3DWURO
3HQQV\OYDQLD$YH1:6XLWH(
:DVKLQJWRQ'&
E
)URP6(/)-())5(<'E
6HQW)ULGD\0D\30
7RE
&FE 6(/)-())5(<'E
6XEMHFW5(*65&3HGHVWUDLQ)HQFHRQ2UJDQ3LSH
*X\V
,FDQ
W VD\WKLVHQRXJKPDQDJHWKH PHVVDJH,I \RXGRQ
WKHDU LWIURP2%3 RU6%,QHW WKHQWHOO
ZKRHYHULVVD\LQJZKDWWKH\VKRXOGQ
WWRSLSHXS :HKDYHDZLOGILUHLQ7H[DVEHFDXVHRIWKLVDQGZH
FDQ
WEHILJKWLQJDWZRIURQW EDWWOH:HQHHGWRUHDFKRXW WRRXUFRQWUDFWRUVDQGDGYLVHWKHPWREH
FDUHIXODVWRZKDWWKH\VD\DQGWRZKRPWKH\VD\LW
-HIIUH\'6HOI
'LYLVLRQ&KLHI
2SHUDWLRQDO3ODQQLQJDQG$QDO\VLV
2IILFHRI%RUGHU 3DWURO
E
)URP
E
6HQW)ULGD\0D\$0
7RE
&FE 6(/)-())5(<'6E
6XEMHFW5(*65&3HGHVWUDLQ)HQFHRQ2UJDQ3LSH
E 7KDQNVIRUWKH LQIRUPDWLRQ:HDSSUHFLDWHLW
E
)URPE
6HQW)ULGD\0D\$0
7RE $GDPV5RZG\'E
&FE 6(/)-())5(<'E
6XEMHFW5(*65&3HGHVWUDLQ)HQFHRQ2UJDQ3LSH
E HWDO
:HFKHFNHGWKH 3OD\GRZQIRU/XNHYLOOHDQGGHWHUPLQHG WKDWWKHUHZDV PLOHHDVWDQG PLOH
ZHVWRIWKH 32(SURSRVHG
7KDQNV
E
$FWLQJ$VVRFLDWH&KLHI
2IILFHRI%RUGHU 3DWURO+HDGTXDUWHUV
)DFLOLWLHV 7DFWLFDO,QIUDVWUXFWXUH%UDQFK
E
)URPE
6HQW)ULGD\0D\$0
7RE $GDPV5RZG\'E
&FE
6XEMHFW5(*65&3HGHVWUDLQ)HQFHRQ2UJDQ3LSH
*RRGPRUQLQJE
0\XQGHUVWDQGLQJLVWKDWDOO IHQFLQJORFDWLRQVDUHEDVHGRQ6HFWRUUHTXHVWV
,¶OOIRUZDUGWKLVLQIRUPDWLRQWRRXU30RQWKH IHQFLQJSURMHFWVZKRFDQDQVZHUH[DFWO\KRZPXFKLV
JRLQJLQDWWKRVHVLWHV
E
6HFXUH%RUGHU ,QLWLDWLYH
86&XVWRPVDQG%RUGHU 3URWHFWLRQ
E
)URPE
6HQW7KXUVGD\0D\30
7R$GDPV5RZG\'E
&FE
6XEMHFW5(*65&3HGHVWUDLQ)HQFHRQ2UJDQ3LSH
E 'R\RXKDYHDQ\LQIRUPDWLRQRQWKLVVWUHWFK RIIHQFLQJ"E
)URPE
6HQW7KXUVGD\0D\30
7RE
&FE
6XEMHFW):*65&3HGHVWUDLQ)HQFHRQ2UJDQ3LSH
,PSRUWDQFH+LJK
E
:KRLVXOWLPDWHO\UHVSRQVLEOHIRUGHFLGLQJWKH IHQFLQJORFDWLRQV",V WKH IHQFLQJRQWKH 2UJDQ3LSH D
GRQHGHDO"
7KDQNV
E
7XFVRQ6HFWRU
$VVLVWDQW&KLHI3DWURO$JHQW
E
)URPE
6HQW7KXUVGD\0D\30
7RE
&FE
6XEMHFW*65&3HGHVWUDLQ)HQFHRQ2UJDQ3LSH
*HQWV
,EHOLHYHE FDOOHGDERXWWKH UHSUHVHQWDWLYHIURP*65&ZKRLVRQVLWHDWWKH $MR6WDWLRQDQGLVWHOOLQJ
SUREDEO\EHJHWWLQJ PLOHVRISHGHVWULDQIHQFHDORQJWKH 23&10
XVWKDWZHZLOO
,GRQ¶WEHOLHYHWKLVZRXOGEHWKH EHVWXVHRIUHVRXUFHV RUIXQGLQJ,QIDFW,KDYHDGGUHVVHGWKDWRQ
HYHU\&RGHO9LVLWDQGHYHU\RWKHUYLVLWWKDWKDVRFFXUUHGZLWKLQRXU$250DLQWDLQLQJ WKLVZRXOGEHD
QLJKWPDUHDQG,GRQ¶WVHHWKH RSHUDWLRQDOEHQHILWVRIWKLVW\SHRIIHQFHLQDUHPRWHDUHD,QIDFW,
EHOLHYHWKDWWKLVZRXOGXOWLPDWHO\KXUWRSHUDWLRQVEHFDXVHZHZRXOGEHDWWHPSWLQJWRPDLQWDLQDQG
ZDWFKSHGHVWULDQIHQFHZLWKZKDWZHDUHVKRRWLQJIRULQWKH 25%:HUHTXHVWHGPLOHVRQWKH HDVW
VLGHDQGPLOHVRQWKH ZHVWVLGHRI/XNHYLOOHQRW PLOHV
,ZLOO DGGUHVVLQPHPRUDQGXPIRUPDWDQGIRUZDUGXSDVWKLVGRHVQ¶WVHHPHWKLFDOWRPH,GRQ¶W
EHOLHYHWKDWWKLVLVWKH ULJKWFRPELQDWLRQWKDWZHDUHORRNLQJIRU
7KDQNVE