A second provision that Congress included in the GLB Act permits financial holding companies, without prior Board approval, to make merchant banking investments in companies engaged in activities not otherwise permitted for financial holding companies.10  Reinvestment Act. The Dodd-Frank Wall Street Reform and Consumer Protection Act added a requirement that the financial holding companies themselves must be well capitalized and well managed.
Over the past years, the international competitiveness of Curaçao and Sint Maarten, as measured by the real effective exchange rate (REER), has deteriorated. The REER, which assesses a country’s international price competitiveness, has been deteriorating in Curaçao since 2009 and in Sint Maarten since 2008. The reduced competitiveness of both countries has contributed to the widening of the current account deficit.