sub sovereign entities meaning

English [] Etymology []. GRAMMAR A-Z ; SPELLING ; PUNCTUATION ; WRITING TIPS ; USAGE ; EXPLORE . An entity that makes up part of a larger entity; a component. EXPLORE . WORD ORIGINS ; LANGUAGE QUESTIONS ; WORD LISTS; SPANISH DICTIONARY; More. Investors who purchase debt issued by a sub-sovereign body are exposed to call risk. A debtholder faced with the risk that his or her bond could be called, also faces reinvestment risk. Learn more. Hence, CARE believes it is important to study their performance to assess expected revenues, expected financial liabilities and prospects for their restructuring and divestment. Emerging Europe Sovereign Outlook Stable in 2021. European government, the U.S. government, a sub sovereign entity or borrowing authority, a company or a [...] special purpose entity that holds assets such as mortgages. Once a bond is retired from the market on a call date, the bondholder stops receiving interest payments. These criteria apply to issuer credit and issue ratings. What Is a Sub-Sovereign Obligation (SSO)? Related Fitch Ratings Content: Sub-Saharan Africa Sovereign Credit Overview: 3Q20 Fitch Ratings-London/Hong Kong-27 October 2020: Median GDP growth among sovereigns in sub-Saharan Africa (SSA) will contract by 2.4% in 2020, with growth expected to recover to 4% in … In an economy with declining interest rates, an issuer may seize the opportunity to buy back its existing bonds and reissue the bonds at a lower interest rate. This form of debt comes from bond issues made by states, provinces, cities, or towns in order to fund municipal and local projects. Most taxable sub-sovereign obligations are issued to finance the shortfalls of state and local pension funds. An entity that … Power is not theoretical, it is always manifest in the actions of people. A sub-sovereign obligation is a form of debt obligation issued by hierarchical tiers below the ultimate governing body of a nation, country, or territory… of entities. GRAMMAR A-Z ; SPELLING ; PUNCTUATION ; WRITING TIPS ; USAGE ; EXPLORE . A BIS risk weighting of 0% applies to 69% of these assets, reflecting the focus on sovereign and the upper level of sub-sovereign entities. Sovereign definition is - one possessing or held to possess supreme political power or sovereignty. Definition from Wiktionary, the free dictionary. Sovereign law constitutes a true state of law, meaning the letter of the law (if constitutionally correct) is applicable and enforceable, even when against the political will of the nation, as long as not formally changed following the constitutional procedure. A sub-sovereign obligation is a form of debt obligation issued by hierarchical tiers below the ultimate governing body of a nation, country, or territory. DICTIONARY ; THESAURUS ; GRAMMAR . Sovereigns, Supranationals and Agencies. An investor has an added tax-exemption benefit at the state or local level if they reside in the state of issue. Concern that sub-national operations would crowd out pure private operations led to the placing of an upper limit on such lending: up to a maximum of one third of total NSG Q: A: What is shorthand of Sub-Sovereign Obligation? By buying its bonds back, investors may have no choice but to reinvest their proceeds into similar debt offerings with lower interest payments. In most instances, a quasi-sovereign usually has a so-called ‘implicit’ guarantee from its government, but that does not mean it will necessarily obtain an ‘explicit’ guarantee on its bonds. sovereign definition: 1. a king or queen 2. a British gold coin that was in use in Britain from 1817 to 1914 and was…. Therefore, bond investors must make sure they carefully examine bond documentations to assess whether or not they are invested in a bond explicitly guaranteed at the sovereign level. Of or relating to commercial lending to a sub-sovereign government body. 2Finance Of or relating to commercial lending to a sub-sovereign government body. Rating Action: Moody's takes action on 9 sub-sovereign entities following South African sovereign action 25 Nov 2020 Johannesburg, November 25, 2020 -- Moody's Investors Service has today taken rating action on 7 South African local governments and 2 Government-Related issuers (GRIs). This is an article on the subjects of international law. The municipal debt obligations are callable, which means that an issuer that hopes to refinance its outstanding debt with a lower interest rate, seeks a more favorable payment schedule, or wants a better debt covenant can redeem the bonds prior to maturity. Does English Have More Words Than Any Other Language? Learn more. For a general article on the state, see State (polity). Refunded bonds are bonds that have their principal cash amount already held aside by the original issuer of the debt. Emanations of a sovereign entity, such as regional, provincial and municipal governments and state owned enterprises. WORD ORIGINS ; LANGUAGE QUESTIONS ; WORD … hyporealestate.com Für 69% dieser Aktiva gilt nach BIZ-Vorschriften eine Risikogewichtung von 0%, was die Konzentration auf staatliche Institutionen und den oberen Bereich unterstaatlicher Institutionen widerspiegelt. EM quasi-sovereign bonds have generated good returns since 2005. DICTIONARY ; THESAURUS ; GRAMMAR . Non-state actors are - as stated - organizations powerful enough to impact politics and policy. With a Sharpe ratio of 0.51 during the same period, this sub-asset class has delivered the best risk-adjusted return within EM (hard-currency) debt over the past decade. EXPLORE . Local financing for sub-sovereign infrastructure in developing countries: case studies of innovative domestic credit enhancement entities and techniques (Inglês) Resumo This paper reviews innovative local credit enhancement entities and techniques that help mobilize domestic commercial debt resources for sub-sovereign infrastructure finance. It gets its meaning from within a legal system, and is theoretical. It then outlines ideas related to revising the regulatory treatment of sovereign exposures. Late 18th century (in an earlier sense). To achieve these goals, they require a capital markets partner with global reach and proven debt expertise. Credit Rating . Build America Bonds (BABs) are an example of taxable bonds; they were created under the American Recovery and Reinvestment Act (ARRA) of 2009 and, although taxable, have special tax credits and federal subsidies for the bond issuer and holder. Jump to navigation Jump to search. imf.org. Sovereign definition, a monarch; a king, queen, or other supreme ruler. sovereign Bedeutung, Definition sovereign: 1. a king or queen 2. a British gold coin that was in use in Britain from 1817 to 1914 and was…. It gets its meaning from within a legal system, and is theoretical. Cote d’Ivoire’s issuance was the first by an SSA sovereign since the escalation of the pandemic. A call provision is a provision on a bond or other fixed-income instrument that allows the issuer to repurchase and retire its bonds. 1.1 Scope’s definition of sub-sovereigns Under our methodology, a sub-sovereign is a particular level of regional or local government that is assigned the responsibility to provide a certain range of public services along with sources of revenue to fund these mandates. What does Sovereign state mean? Sovereignty and power are not the same. Committee’s discussions on revisionspossible to the definition of sovereign entities to ensure greater consistency across jurisdictions. Sub-sovereign obligations are taxable if the project for which proceeds of the bond finances has no obvious public benefits. Sovereign law constitutes a true state of law, meaning the letter of the law (if constitutionally correct) is applicable and enforceable, even when against the political will of the nation, as long as not formally changed following the constitutional procedure. subentity (plural subentities) . WORD ORIGINS ; LANGUAGE QUESTIONS ; WORD LISTS; SPANISH DICTIONARY; More. ; specifically designating a regional or local government body. semi-sovereign Quick Reference Given the difficulties in defining sovereignty in international law, the term semi-sovereign as applied to States would seem to be devoid of any useful meaning… Power is the actual ability for a political entity to do as it wishes and to influence others to comply with it. Conduit financing is funding provided to organizations for large scale projects through the issuance of municipal bonds. therefore, these sub-sovereign entities will fight a sovereign downgrade, again explaining the upward bias in ratings. 1 Subordinate to a sovereign authority, body, etc. The previous posts clarified what state actirs are - reognized countries. For example, while SriLankan Airlines, … Sovereign Power Synonym Discussion of sovereign. of 100%; and Non-sovereign bonds are not guaranteed by the national government. Of or relating to commercial lending to a sub-sovereign government body. Non-sovereign bonds usually trade at a higher yield and lower price than sovereign bonds. (sovereigns plural) 1 adj A sovereign state or country is independent and not under the authority of any other country. For its non-sovereign guaranteed borrowers, the IDB provides private and state-owned companies and financial institutions in Latin America and the Caribbean with the financing necessary to help meet the region's growing demands. ; specifically designating a regional or local government body. entity definition: 1. something that exists apart from other things, having its own independent existence: 2…. this evaluation examines the idb's non-sovereign operations with sub-national entities during the 2007-2010 period. EurLex-2 . supreme; preeminent; indisputable: a sovereign right. A sub-sovereign obligation is also referred to as a municipal debt obligation. According to JP Morgan, they generated an annualised return of 6.05%** between 2005 and 2014. A sub-sovereign obligation is a form of debt obligation commonly created by municipalities in order to meet funding requirements. And, facilitated by low rates, they have been able to fill themselves up. The main transmission channel to sub-sovereign ratings would be through potential sovereign rating actions rather than the direct impact, but this will vary between local and regional governments (LRGs) and government-related entities (GREs). Sub-sovereign obligations are issued to raise capital to finance a project that would add value to a region or community after completion. A number of North African and Middle Eastern sub-investment-grade sovereigns have issued debt since the crisis, including Bahrain (B+/Stable), Egypt (B+/Stable) and Oman (BB-/Negative), but SSA issuers have lagged returning to markets after the shock. Understanding Sub-Sovereign Obligation (SSO), How a Call Provision Benefits Investors and Companies. For the purpose of these criteria, we define a sovereign as a state that administers its own government and is not subject to or dependent on another sovereign for all or most prerogatives. sub-sovereign-bond-purchasing local-government-owned bank emerges exogenously from the point of view of both the state government and the individual bank. Given the negative outlook on Catalunya's rating, an upgrade is unlikely over the next 12 to 18 months. Interest earned on these bonds is not subject to tax at the federal level. The rating process takes about two to three weeks, depending on the complexity of the assignment and the flow of information from the client. belonging to or characteristic of a sovereign or sovereign authority; royal. sub-sovereign-bond-purchasing local-government-owned bank emerges exogenously from the point of view of both the state government and the individual bank. What are synonyms for sub-sovereign? These Foreign Words And Phrases Are Now Used In English. These bonds are generally issued to finance schools, hospitals, highways, bridges, etc. Sovereign definition: A sovereign state or country is independent and not under the authority of any other... | Meaning, pronunciation, translations and examples Meaning of sovereign entity A sovereign entity is any of the following: (a) a body politic of a foreign country, or a part of a foreign country; (b) a * foreign government agency; (c) an entity: (i) in which an entity covered by paragraph (a) or (b) holds a * total participation interest. of entities. WORD ORIGINS ; LANGUAGE QUESTIONS ; WORD … Additionally, a company that is in liquidation, or a partnership, trust or sole trader in bankruptcy, will not be eligible. The magnitude of Moody's actions on European sub-sovereign ratings broadly reflects the scale of the sovereign actions and the relative position of the credits on the rating scale. However, given that these bonds are backed by a small governmental body, the risk of default is lower than that of corporate bonds. Sovereign entities (including foreign governments and their agencies, and all wholly owned entities - noting that this was changed in the legislative instrument made 1 May 2020 to now exclude both Australian resident and non-resident wholly owned entities). 45.4% of the Pfandbriefbank's on balance sheet and interest earning exposures represents direct or indirect obligations of sub-sovereigns. Are You Learning English? adjective. Information and translations of Sovereign state in the most comprehensive dictionary definitions resource on the web. Examples of sovereign entity in a sentence, how to use it. Q: A: What is sso abbreviation? Sovereign definition: A sovereign state or country is independent and not under the authority of any other... | Meaning, pronunciation, translations and examples See more. A number of North African and Middle Eastern sub-investment-grade sovereigns have issued debt since the crisis, including Bahrain (B+/Stable), Egypt (B+/Stable) and Oman (BB-/Negative), but SSA issuers have lagged returning to markets after the shock. In some countries, the lowest ratings remain unaffected, as they display greater tolerance within their rating categories. What Is a Sub-Sovereign Obligation (SSO)? translation and definition "sovereign entities", Dictionary English-English online. From sub- + sovereign [adjective]. Q: A: What is the meaning of sso abbreviation? The offers that appear in this table are from partnerships from which Investopedia receives compensation. Entity definition: An entity is something that exists separately from other things and has a clear identity... | Meaning, pronunciation, translations and examples For sub-national entities called states, see Federated state. English [] Noun []. Many translated example sentences containing "sub-sovereign entities" – Italian-English dictionary and search engine for Italian translations. Interest payment on the obligation can be funded from the revenue that will be generated from the project or from the revenue account of the municipal issuer. Local financing for sub-sovereign infrastructure in developing countries: case studies of innovative domestic credit enhancement entities and techniques (English) Abstract This paper reviews innovative local credit enhancement entities and techniques that help mobilize domestic commercial debt resources for sub-sovereign infrastructure finance. usu ADJ n (=autonomous) The Russian Federation declared itself to be a … ; specifically designating a regional or local government body. One of the definitions of sso is "Sub-Sovereign Obligation". For the purpose of these criteria, we define a sovereign as a state that administers its own government and is not subject to or dependent on another sovereign for all or most prerogatives. Meanwhile, sub-sovereign, quasi-sovereign and state-owned enterprises in many jurisdictions have been asked to take on more of their own funding responsibilities in recent decades. A taxable bond is one where bondholders must pay tax due on interest earned. What is the meaning of sub-sovereign? Example sentences with "sovereign entities", translation memory. A downgrade of Spain's sovereign rating leading to indications of weakening government support for the regions, or a deterioration in their fiscal performance, would likely lead to a downgrade of sub-sovereign entities. How do you use sub-sovereign in a sentence? Subordinate to a sovereign authority, body, etc. Sovereign definition is - one possessing or held to possess supreme political power or sovereignty. having supreme rank, power, or authority. Here Are Our Top English Tips, The Best Articles To Improve Your English Language Usage, The Most Common English Language Questions. Power is the actual ability for a political entity to do as it wishes and to influence others to comply with it. International law defines sovereign states as having a permanent population, defined territory, one government and the capacity to enter into relations with other sovereign states. These can be grouped into three broad categories. Challenges. Definition of Sovereign state in the Definitions.net dictionary. How do you use sub-sovereign in a sentence? 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Comply with it, 2020 - 7:25 AM ET issued with lower interest payments obligations. 1. something that exists apart from other things, having its own independent existence:.... Questions ; word LISTS ; SPANISH DICTIONARY ; More held aside by the original issuer of the intentions to politics... Things, having its own independent existence: 2… 1 Subordinate to a sub-sovereign government body 45.4 % of bond! Polity ) then outlines ideas related to revising the regulatory treatment of sovereign exposures regions, states, and theoretical... Countries, the lowest ratings remain unaffected, as they display greater within. Will put pressure on sub-sovereign issuers ’ financial profiles, fitch ratings says they generated annualised! To use it if their central government is 0 % risk weight if their central government is 0 % weight! An annualised return of 6.05 % * * between 2005 and 2014 shortfalls state! 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Of international law partner with global reach and proven debt expertise issuing bodies responsible. 2020: the coronavirus pandemic will put pressure on sub-sovereign issuers ’ financial,. Sub-National debt, which can carry significant risk depending on the financial health of the 's! Pension funds strictly speaking, any deviation from this principle constitutes a revolution or a d'état. Into similar debt offerings with lower yields than corporate bonds debt issued by a sub-sovereign body... Would add value to a sovereign authority, body, etc 1. something that exists from!, an upgrade is unlikely over the next 12 to 18 months ratings.... Also lend directly to sub-national entities called states, see state ( disambiguation sub sovereign entities meaning WRITING. And lower price than their sovereign counterparts and translations of sovereign exposures political power sovereignty.

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