3.1  LOCAL CURRENCIES  A local or complementary currency is a currency that can be spent in a particular and usually limited geographical locality, which differs from an official currency (like the euro) and about which a group of private persons, companies or government instances have agreed to accept it as a means of exchange.
Nonetheless, in the past few quarters, emerging earnings weaknesses have been pronounced at some of the larger banking organizations, which have experienced sharp increases in loan loss provision expenses, narrowing interest margins, and significant declines in venture capital revenues. During the first quarter of this year, those negative developments at large firms were somewhat offset by record trading profits and better overhead cost efficiency.