What date did the program, in which the Bracebridge Capital made $1.5 billion from, begin?
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Bracebridge Capital Bracebridge Capital is a hedge fund based in Boston, Massachusetts. It was co-founded by Nancy Zimmerman and Gabriel Sunshine in 1994. It manages funds from the endowments of Yale University and Princeton University. It also made $1.5 billion from the Argentine debt restructuring. As of February 2016, it had $10.3 billion of assets under management, making it the largest hedge fund managed by a woman in the world.
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Argentine debt restructuring The Argentine debt restructuring is a process of debt restructuring by Argentina that began on January 14, 2005, and allowed it to resume payment on 76% of the US$82 billion in sovereign bonds that defaulted in 2001 at the depth of the worst economic crisis in the nation's history. A second debt restructuring in 2010 brought the percentage of bonds under some form of repayment to 93%, though ongoing disputes with holdouts remained. Bondholders who participated in the restructuring settled for repayments of around 30% of face value and deferred payment terms, and began to be paid punctually; the value of their nearly worthless bonds also began to rise. The remaining 7% of bondholders later won the right to be repaid in full.
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Qualified Foreign Institutional Investor The Qualified Foreign Institutional Investor program, one of the first efforts to internationalize the RMB, represents China’s effort to allow, on a selective basis, global institutional investors to invest in its RMB denominated capital market. Once licensed, foreign investors are permitted to buy RMB-denominated “A shares" in China's mainland Shanghai and Shenzen stock exchanges. Thus foreign investors benefit from an opportunity to invest onshore, which is otherwise often insulated from the rest of the world, and subject to capital controls governing the movement of assets in-and-out of the country.
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3 by 5 Initiative The 3 by 5 Initiative was an initiative of the World Health Organization (WHO) to provide antiretroviral treatment to patients with HIV/AIDS in low- and middle-income countries. The program lasted from December 2003 to December 2005, and the name "3 by 5" refers to the goal of treating 3 million people by 2005. The 3 by 5 Initiative is seen as the beginning of the scaling of antiretroviral treatments, and evaluations of the Initiative take this into account.
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July 1 July 1 is the day of the year in the Gregorian calendar.
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Disbursement Acceleration Program The Disbursement Acceleration Program in the Philippines is a "special" budget allocated to accelerate or hasten a government project without Congress or Senate's approval. This replaces the traditional pork barrel, the Priority Development Assistance Fund (PDAF), after the Pork barrel scam was uncovered in 2013.
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Buffalo Billion Buffalo Billion is a New York state government project led by Governor Andrew Cuomo that aims to invest $1 billion in the Buffalo, New York area economy. The project uses a combination of state grants and tax breaks to spur economic development. Governor Cuomo first announced the program in his 2012 "State of the State" address. The program is modeled on a similar program implemented in the Albany, New York area. A key project in the program is a $750 million SolarCity solar panel factory.
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Capital Development Board The Capital Development Board (CDB) is an independent agency of the U.S. state of Illinois. The CDB, as an acronym, refers both to the seven-member bipartisan board of directors and to the agency that it oversees. The members of the CDB, who are appointed by the Governor of Illinois, in turn appoint an executive director who is responsible for the day-to-day management of the agency. The agency is headquartered in the state capital of Springfield, with a second headquarters in Chicago.
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United States Postal Savings System The United States Postal Savings System was a postal savings system signed into law by President William Howard Taft and was operated by the United States Post Office Department, predecessor of the United States Postal Service, from January 1, 1911 until July 1, 1967. The system paid depositors 2 percent annual interest. Depositors in the system were initially limited to hold a balance of $500, but this was raised to $1,000 in 1916 and to $2,500 in 1918. At its peak in 1947, the system held almost $3.4 billion in deposits. The system originally had a natural advantage over deposit-taking private banks because the deposits were always backed by "the full faith and credit of the United States Government." However, because the Federal Deposit Insurance Corporation gave the same guarantee to depositors in private banks, the Postal Savings System lost its natural advantage in trust.
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Highbridge Capital Management Highbridge Capital Management, LLC is a US$25 billion multi-strategy alternative investment management firm founded by Glenn Dubin and Henry Swieca in 1992.
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MD5 National Security Technology Accelerator MD5 or MD5 National Security Technology Accelerator is a United States Department of Defense (DoD) program office under Manufacturing and Industrial Base Policy (MIBP), partnered with a network of national research universities, that seeks to reinvigorate civil-military technology collaboration. As opposed to making investments in specific technologies, government research and development programs, or startups, MD5 focuses on human capital innovation - i.e., developing and enabling innovators and human-centered networks to solve national security problems. In support of this mission, MD5 provides tools, training, and access to DoD assets that enable entrepreneurs and intrapreneurs to develop and commercialize high potential products in the national interest.
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Gates Millennium Scholars Program The Gates Millennium Scholars (GMS) Program is an academic scholarship award and program for higher education, available to high-achieving ethnic minority students in the United States. It was established in 1999 and funded by Microsoft founder Bill Gates through the Bill & Melinda Gates Foundation. Gates Millennium Scholars are provided with a full financial scholarship to attend any U.S. college or university, and are provided with leadership development opportunities, mentoring, as well as academic, financial and social support.
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Canada Fund for Africa The Canada Fund for Africa was a program operated by the government of Canada through the Canadian International Development Agency (CIDA). Established in June 2002 with a budget of five hundred million dollars, its stated purpose was to support the G8 Africa Action Plan in response to priorities established in the New Partnership for Africa's Development (NEPAD). The fund officially ended on March 31, 2008. As of 2010, all but one of its targeted projects have been completed.
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Homeowners Affordability and Stability Plan The Homeowners Affordability and Stability Plan is a U.S. program announced on February 18, 2009 by U.S. President Barack Obama. According to the US Treasury Department, it is a $75 billion program to help up to nine million homeowners avoid foreclosure, which was supplemented by $200 billion in additional funding for Fannie Mae and Freddie Mac to purchase and more easily refinance mortgages. The plan is funded mostly by the Housing and Economic Recovery Act. It uses cost sharing and incentives to encourage lenders to reduce homeowner's monthly payments to 31 percent of their gross monthly income. Under the program, a lender would be responsible for reducing total monthly mortgage payments (PITI) to no more than 38 percent of the borrower’s income, with the government sharing the cost to further reduce the payment to 31 percent. The plan also involves potentially forgiving or deferring a portion of the borrower’s mortgage balance. Mortgage servicers will receive incentives to modify loans and to help the homeowner stay current, though participation by lenders is voluntary.
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21st Century Community Learning Center The 21st Century Community Learning Centers (21st CCLC) initiative is the only federal funding source dedicated exclusively to afterschool programs. The No Child Left Behind Act (NCLB) reauthorized 21st CCLC in 2002, transferring the administration of the grants from the U.S. Department of Education to the state education agencies. Each state receives funds based on its share of Title I funding for low-income students. Funds are also allotted to outlying areas and the Bureau of Indian Affairs.The No Child Left Behind Act narrowed the focus of 21st CCLC from a community learning center model, where all members of the community benefited from access to school resources such as teachers, computer labs, gymnasiums and classrooms, to an afterschool program model that provides services only to students attending high-poverty, low-performing schools. The services they provide include Academic enrichment activities that can help students meet state and local achievement standards. They also provide additional services designed to reinforce and complement the regular academic program, such as: drug and violence prevention programs, counseling programs, art, music, and recreation programs, technology education programs, and character education programs. Programs also may provide literacy and related educational development services to the families of children who are served in the program.
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Immigrant investor programs Immigrant investor programs are programs designed to attract foreign capital and business people by providing the right of residence and citizenship in return. These are also known as citizenship-by-investment programs. While several countries currently offer investors citizenship or residence in return for an economic investment, the concept is relatively new and was only brought to the focus around 2006.
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Canadian federal spending, 2004 Canadian federal spending, 2004, comprises the revenues and expenditures of the Government of Canada in the 2004-2005 fiscal year (April 1, 2004 to March 31, 2005). All figures below are in Canadian dollars, and are reported as prepared by the Receiver General for Canada, in the annual "Public Accounts of Canada". The ±% column below is relative to the last Canadian federal fiscal year of 03-04, as noted in Canadian federal spending, 2003.
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Program Assessment Rating Tool The Program Assessment Rating Tool, or PART, was a program run through the United States Office of Management and Budget instituted by President George W. Bush in 2002 to rate all federal programs on their effectiveness. By the conclusion of the Bush administration, PART was applied to just over 1,000 federal programs,
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Georgia Tech Foundation The Georgia Tech Foundation provides financial assistance to the Georgia Institute of Technology. It was founded in 1932 and chartered under the tax laws of the United States as a non-profit 501(c)(3) corporation. In 2013, the Foundation provided $130.8 million in support of the Institute, including $20.7 million in scholarships, fellowships and loan funds to 3,563 students. As of June 30, 2013, the Foundation had $1.729 billion in assets. In 2013, the Foundation provided financial support for 200 students to participate in the G. Wayne Clough Georgia Tech Promise Program, a transforming scholarship program for Georgia residents whose family income falls below 150 percent of the federal poverty level. Students who qualify for the program can graduate from Georgia Tech debt free.
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National Human Development Initiative The National Human Development Initiative is a program launched in 2005 by King Mohammed VI of Morocco with the objective of "ensuring a better distribution of the fruits of growth and to improve the living conditions of citizens". The program has a budget of 10 billion Dirham (about Euro 900 million) over five years (2006-2010). It is distributed equally between two country-wide programs (one called a "transversal program" and a "program against precarious living conditions") and two geographically targeted programs (an urban and a rural program). 60% of the program is financed by the national government, 20% by local governments and 20% is to be financed by external donors. For the urban program, committees at the local level identified 264 urban neighborhoods with the greatest needs in 30 cities that would benefit from the initiative. The neighborhoods have a population of 2.5m or 16% of the country's urban population. The rural program targets the 348 rural municipalities where the poverty level is higher than 30%.
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1 BC Year 1 BC was a common year starting on Friday or Saturday (link will display the full calendar) of the Julian calendar (the sources differ, see leap year error for further information) and a leap year starting on Thursday of the Proleptic Julian calendar. It is also a leap year starting on Saturday, in the Proleptic Gregorian calendar. At the time, it was known as the Year of the Consulship of Lentulus and Piso (or, less frequently, year 753 "Ab urbe condita"). The denomination 1 BC for this year has been used since the early medieval period, when the Anno Domini calendar era became the prevalent method in Europe for naming years. The following year is 1 AD in the widely used Julian calendar, which does not have a "year zero".
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Volcker Rule The Volcker Rule refers to § 619 ( /1851 § 1851  ) part of the Dodd–Frank Wall Street Reform and Consumer Protection Act, originally proposed by American economist and former United States Federal Reserve Chairman Paul Volcker to restrict United States banks from making certain kinds of speculative investments that do not benefit their customers. Volcker argued that such speculative activity played a key role in the financial crisis of 2007–2010. The rule is often referred to as a ban on proprietary trading by commercial banks, whereby deposits are used to trade on the bank's own accounts, although a number of exceptions to this ban were included in the Dodd-Frank law. The rule's provisions were scheduled to be implemented as a part of Dodd-Frank on July 21, 2010, with preceding ramifications, but were delayed. On December 10, 2013, the necessary agencies approved regulations implementing the rule, which were scheduled to go into effect April 1, 2014. On January 14, 2014, after a lawsuit by community banks over provisions concerning specialized securities, revised final regulations were adopted. The rule came into effect on July 21, 2015. On August 11, 2016, several large banks requested a 5-year delay to exit illiquid investments.