During 2011, the Bank managed to double the number of its customers by adding 5 new funds. Thus, the total amount of financing held in the endowment funds under management increased by 65%.
- The Company has presented the deferred tax impacts of GILTI tax in its condensed consolidated financial statements as of December 31, 2020, and March 31, 2020.
- The securities received by the Company as collateral under reverse repurchase agreements are liquid trading securities with market quotes and significant trading volume.
- The fair value of collateral pledged under repurchase agreements as of December 31, 2020, and March 31, 2020, was $144,696 and $54,222, respectively.
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Incorporated by reference to Registrant’s Quarterly Report on Form 10-Q filed with the SEC on February 10, 2020. Forex news Incorporated by reference to Registrant’s Current Report on Form 8-K filed with the SEC on August 3, 2020.
This significantly enhances our risk of loss in the event financial markets move against our positions. When this occurs our liquidity, capitalization and business can be negatively impacted. During the three months ended December 31, 2020, fees and commissions from brokerage services increased by $49,960 as compared to the three months ended https://www.trustpilot.com/review/fsclc.eu December 31, 2019. We believe this growth was partially attributable to significantly increased trading volume and customer activity resulting from the significant market growth during 2020. We believe this growth was also the result of our ongoing efforts to expand our brokerage customer base both organically and through acquisitions.
Account Types And Terms
These commitments expose the Company to varying degrees of credit and market risk which are essentially the same as those involved in extending loans to customers, and are subject to the same credit policies used in underwriting loans. Collateral may be obtained based on the Company’s credit evaluation of the counterparty. The Company’s maximum https://www.provenexpert.com/en-us/dotbig/ exposure to credit loss is represented by the contractual amount of these commitments. The Company recognizes deferred tax liabilities and assets based on the difference between the financial statements and tax basis of assets and liabilities using the enacted tax rates in effect for the year in which the differences are expected to reverse.
In July 2020, we completed the acquisition of Zerich Capital Management (“Zerich”). On December 27, 2020, Zerich was merged into Freedom RU and its separate legal existence terminated. In connection with the merger, FSCLC the assets and liabilities of Zerich were transferred to Freedom RU. Daily and weekly forecasts in the Market Insights section preview the key economic data ahead and highlight the major market movers.