As at end-September 2012, public debt (exclusive of treasury bills and treasury notes issued for open market operations) outstanding increased to $ billion (46.6 per cent of GDP) from $ billion (36.2 per cent of GDP) for the same period in 2011. The increase in public debt resulted largely from financing of the overall fiscal deficit and financing of payments to CLICO policyholders.
As with pre-hedging, clients should always be able to evaluate whether the methods of execution are meeting their needs. Settlement Risk The GFXC has also focused on settlement risk.