We hope you are doing well this morning.After our research yesterday evening and this morning, we are able to get an Exchange office here who has their stock-broker branch in Algeria and they gave us their Algeria stock-broker account details for the payment which is as follows:BANK Name: CREDIT POPULAIRE D'ALGERIEACCOUNT NAME: HOUCHI MALIKAACCOUNT NUMBER: 458017234825IBAN : DZ00400120458017234825SWIFT : CPALDZALXXXThey also instructed us that you can only make the deposit in EURO, so kindly change the currency in EURO to the amount(3,430 EURO)and make the deposit and then share the deposit receipt which we will take to the exchange office here and they will confirm the payment receipt and pay us the money here.Thank you for your cooperation and we shall be waiting for the transfer receipt.Yours faithfully, MR. ABDEL-RAHMAN BANI.AL THURAYA TRAVEL & TOURISM LLC-UAEAddress: Mohd Rasool Khoory & Sons Building, Airport Road, Al Danah.Abu Dhabi, United Arab EmiratesTel: +971- 526-790664

Attention: Noureddine BOUKEFFA,We hope you are doing well this morning.After our research yesterday evening and this morning, we are able to get an Exchange office here who has their stock-broker branch in Algeria and they gave us their Algeria stock-broker account details for the payment which is as follows:BANK Name: CREDIT POPULAIRE D'ALGERIEACCOUNT NAME: HOUCHI MALIKAACCOUNT NUMBER: 458017234825IBAN : DZ00400120458017234825SWIFT : CPALDZALXXXThey also instructed us that you can only make the deposit in EURO, so kindly change the currency in EURO to the amount(3,430 EURO)and make the deposit and then share the deposit receipt which we will take to the exchange office here and they will confirm the payment receipt and pay us the money here.Thank you for your cooperation and we shall be waiting for the transfer receipt.Yours faithfully, MR. ABDEL-RAHMAN BANI.AL THURAYA TRAVEL & TOURISM LLC-UAEAddress: Mohd Rasool Khoory & Sons Building, Airport Road, Al Danah.Abu Dhabi, United Arab EmiratesTel: +971- 526-790664

Frederique, your lecturer, pays EUR330 every quarter to an insurance company DKV based in the Euro monetary zone for an international health insurance protection. She pays the insurance premium by using AUD564 from her transactional account at the CBA. CBA processes the payment using its own Euro-denominated transactional account it holds in its correspondent bank Societe Generale, based in Paris, in the Euro Zone.d. Assume that CBA has not enough funds in its EURO deposit account to process the payment. It convinces Societe Generale to swap EURO and AUD. Societe Generale has an account in AUD in CBA. Draw the changes in CBA's balance sheet when it processes the swap. Does the payment affect the stock of central bank money in Australia? Explain your answers in depth.

Frederique, your lecturer, pays EUR330 every quarter to an insurance company DKV based in the Euro monetary zone for an international health insurance protection. She pays the insurance premium by using AUD564 from her transactional account at the CBA. CBA processes the payment using its own Euro-denominated transactional account it holds in its correspondent bank Societe Generale, based in Paris, in the Euro Zone.Assume that CBA has enough funds in its EURO deposit account to process the payment. Draw the changes in CBA's balance sheet when it processes Frederique' payment for her EURO330 (AUD564) insurance premium. Does the payment affect the stock of private money and central bank money in Australia? Explain your answers in depth.

Frederique, your lecturer, pays EUR330 every quarter to an insurance company DKV based in the Euro monetary zone for an international health insurance protection. She pays the insurance premium by using AUD564  from her transactional account at the CBA. CBA processes the payment using its own Euro-denominated transactional account it holds in its correspondent bank Societe Generale, based in Paris, in the Euro Zone.Describe the location of the CBA EUROS deposits in the balance sheet of CBA and in the balance sheet of Societe Generale. Explain your answer

Ex 2 :En 2019, le revenu national brut disponible a atteint 1.203,4 MMDH, en hausse de 3,6% par rapport à 2018. Tenant compte d'une progressionde 3,5% de la consommation finale nationale à 883,3 MMDH, l'épargne nationale est ressortie à 320,1 MMDH, soit 27,8% du PIB.Source : rapport annuel de Bank Al-Maghrib (BAM) sur la situation économique, monétaire et financière au titre de l'exercice 2019T.A.F :1- Compléter le tableau suivant, en se basant des données présentées dans le document ci-dessus :Postes (en millions de Dhs) 2018 2019Revenu national brut disponibleConsommation finale nationaleEpargne nationale brutLa part de l’épargne dans le revenu(le taux d’épargne)2- Calculez la propension marginale à épargner (entre 2018 et 2019)