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424 KB
Extraction Summary
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Document Information
Type:
Financial research report / white paper page
File Size:
424 KB
Summary
This document appears to be page 30 of a Merrill Lynch financial report titled 'GEMs Paper #26' dated June 30, 2016. The text provides an economic analysis of Saudi Arabia's Currency Law (Article 6) and foreign reserve assets. The document bears a 'HOUSE_OVERSIGHT_016140' stamp, indicating it was part of a production to the House Oversight Committee.
Organizations (3)
| Name | Type | Context |
|---|---|---|
| Merrill Lynch | ||
| Saudi Arabia (Government/Central Bank implied) | ||
| House Oversight Committee (implied by Bates stamp) |
Locations (1)
| Location | Context |
|---|---|
Key Quotes (2)
"possible source of easing of domestic liquidity would still be consistent with Article 6 Saudi Arabia’s Currency Law which imposes a 100% currency backing by Fx reserves"Source
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Quote #1
"reserve money currently represents just 14% of foreign reserve assets, down from c100% throughout the period 1996-2000"Source
HOUSE_OVERSIGHT_016140.jpg
Quote #2
Full Extracted Text
Complete text extracted from the document (486 characters)
possible source of easing of domestic liquidity would still be consistent with Article 6 Saudi Arabia’s Currency Law which imposes a 100% currency backing by Fx reserves, such that that currency issued cannot exceed foreign reserve assets. The full cover requirement would still be in force as reserve money currently represents just 14% of foreign reserve assets, down from c100% throughout the period 1996-2000.
30 GEMs Paper #26 | 30 June 2016
Merrill Lynch
HOUSE_OVERSIGHT_016140
Merrill Lynch
HOUSE_OVERSIGHT_016140
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