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13, 2003 through September 8, 2006 the percentage band criteria used in the rating system was 10%. 1185
w Zealand Ltd. An nrostmord 30,115p and invalrom braker dsdosure Malerne« is araiblato on ramost and frose d charge by %Iltog b PO 8c« 45. Auckland. N.Z. China: Dismated by UBS ~ib% CO. Limited Dubai: Tse renende snipene, Sid dann:PM by VEIS AG Dubai Banda a intende4 fOr RON&Sbnal Plente Orly enda ra
Source: DB FX Research EUR/USD PPP EUR/USD 20% Band 0.6 0.8 1.0 1.2 1.4 1.6 73 77 81 85 89 93
ge Rates U.S. Euro Japan U.K. US$/Euro (Fwd. Rates) Yen/US$ (Fwd. Rates) US$/£ (Fwd. Rates) Canada C$/US$ (Fwd. Rates) Australia US$/A$ N.Z. (Fwd. Rates) US$/NZ$ (Fwd. Rates) Switzerland Sfr/US$ (Fwd. Rates) Euro Cross Rates Japan U.K. Yen/Euro (Fwd. Rates) £/Euro (Fwd. Rates)
120 130 60 70 80 90 USDTWI PPP USDTWI 20% Band 60 70 80 90 100 110 120 130 Figure 3: EU
1.53 1.53 Canada USD/CAD 1.03 1.00 1.02 1.04 (Fwd. Rates) - 1.03 1.03 1.04 Australia AUD/USD 0.92 0.98 0.98 0.95 (Fwd. Rates) - 0.91 0.91 0.90 N.Z. NZD/USD (Fwd. Rates) SwitzerlandUSD/CHF (Fwd. Rates) Euro Cross Rates Japan EUR/JPY U.K. (Fwd. Rates) EUR/GBP (Fwd. Rates) SwitzerlandEUR/
Entities connected to both Doug Band and N.Z.

Bloomberg L.P.
ORGANIZATION
U.S. Treasury
ORGANIZATION
Deutsche Bank
ORGANIZATION
New Zealand
LOCATION
Malaysia
LOCATION
Norway
LOCATION
Hungary
LOCATION
Frankfurt
LOCATION
Western Europe
LOCATION
Eurostat
ORGANIZATIONBloomberg Finance LP
ORGANIZATIONthe Kanto Local Finance Bureau
ORGANIZATION
Haver
ORGANIZATIONthe Financial Instruments and Exchange Law
ORGANIZATIONUSD TWI
ORGANIZATIONCensus
ORGANIZATION
European Central Bank
ORGANIZATIONUSD/CAD
ORGANIZATIONJapan Investment Advisers Association
ORGANIZATIONBilal Hafeez
PERSON