redenomination

However, the redenomination, which is Pyongyang's fifth attempt to improve its financial system, could signal a desire to change, said Alexander Vorontsov, chief expert on Korean and Mongolian issues at the Academy's Institute of Oriental Studies.

RIA Novosti 2009

Time will tell whether the redenomination is a serious step toward financial reform or -- as some suspect -- the mere replacement of old banknotes and coins to get rid of a former leader's tarnished image.

Radio Free Europe / Radio Liberty 2009

However, the redenomination, which is Pyongyang's fifth attempt to improve its financial system, could signal a desire to change, said Alexander Vorontsov, chief expert on Korean and Mongolian issues at the Academy's Institute of Oriental Studies.

RIA Novosti 2009

"However, the legal issues involved in any redenomination will be complex."

For Euro Investors, Time to Check the Fine Print Katie Martin 2011

Some 94% of its debt would be slated for redenomination into drachma.

For Euro Investors, Time to Check the Fine Print Katie Martin 2011

But if banks have been lending money overseas, backed by deposits in their home currency, then banks could face bigger redenomination risks.

Time to Think the Unthinkable on the Euro Simon Nixon 2011

For banks, the biggest concern is redenomination risk: They need to work out which assets and liabilities are most at risk from conversion to a new currency and take steps to mitigate their exposure.

Time to Think the Unthinkable on the Euro Simon Nixon 2011

James Smethurst , a partner in the financial-institutions group at law firm Freshfields Bruckhaus Deringer LLP in London, said it is "likely" that, generally speaking, foreign-law bonds would indeed be insulated from currency redenomination risk.

For Euro Investors, Time to Check the Fine Print Katie Martin 2011

Still, this note from Nomura—the most explicit, publicly available guide to redenomination risk to date—is likely to push the issue up the agenda.

For Euro Investors, Time to Check the Fine Print Katie Martin 2011

"The immediate conclusion from an investor perspective should be that assets issued under local law should trade at a discount to foreign-law obligations, given the greater redenomination risk for local-law instruments," the bank said.

For Euro Investors, Time to Check the Fine Print Katie Martin 2011