Term:
General Investment Authorization
Definition:
Formal name for Bank and IDA investment authority approved by the Executive Directors April 18, 1989, which extends the right of the Bank to invest in certain instruments. Changes include removal of specific limitations on futures and options, authorization to use currency-hedged, covered forward investments, acceptability of foreign currency denominated government obligations if equivalent to AA rated securities, IDA's authority equivalent to the Bank's and others.
Domain:
Finance
Source:
World Bank: Glossary of Finance and Debt