In addition, the interpretation of the custody exception adopted by the Commission would prohibit banks from executing securities transactions for their custodial customers on an accommodation basis. Banks, as part of their customary banking activities, have for many years effected securities transactions as an accommodation to their custodial clients.
We should bear in mind that while the Export-Oriented Enterprises employ around 55,000 people and the tourism sector, some 40,000, against a total employment of 536,700 in 2011, their weights in our GDP represent 6.3% and 7.9% respectively. The other sectors actually contribute more to GDP and would be penalized by currency depreciation.