EFTA01459559.pdf

CIO View Special it Quantitative easing tCEt is an unconventional monetary policy in The wealth effect is the change in spending that accompanies a which a central bank purchases securities in order to lower interest change in perceived wea€th (also known as the wealth channel). rates and increase the money supply to promote increased lending and liquidity. An oil well is a drilled hole in the earth that is designed to bring petroleum oil hydrocarbons to the surface. The recovery rate is the extent to which principal and accrued interest on a debt instrument can be recovered in default, West Texas intermediate 'WTI) is a grade of crude oil used as a expressed as a percentage of the instruments face value. benchmark in oi€ pricing. The redemption is the return of an investor's principal in a fixed• income security, upon maturity or cancellation by the issuer Ann is a machine used to drill an oil well. Rig count details the number oil and gas drilling rigs, as well as their operational status and regional location. The S&P 500 Index includes 500 leading U.S. companies capturing approximately SOO coverage of available U.S. market capitalization. On the secondary tharicet, securities or assets are purchased from other investors, rather than from issuing companies themselves. The shale indusl ty belongs to the mining industry and extracts shale oil and gas. Shale oil is a type of unconventional oil found in shale formations. The spread is the difference between the quoted rates of return on two different investments, usually of different credit quality. The STOXX Europe 600 Index is an index representing the performance of 600 listed companies across 18 European countries. Systemic risk describes the possibility that an event at the company level could trigger severe instability or make an entire industry or economy collapse The Federal Reserve System, which serves as the U.S. central bank, was established in 1913, consisting of the U. S. Federal Reserve Board (Fed) with seven members headquartered in Washington. D-C., and twelve Reserve Banks located in major cities throughout the United States. Volatility is the degree of variation of a trading-price series over time. CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 120047 CONFIDENTIAL SDNY_GM_00266231 EFTA01459559