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Macro Watch | 14 November 2016 Merrill Lynch HOUSE_OVERSIGHT_014429 --- PAGE BREAK --- rules. Bank of America Merrill Lynch International Limited, Frankfurt Branch (BAMLI Frankfurt) distribu This research report has been prepared and issued by MLPF&S and/or one or more of its non-US affilia responsibility
Page: HOUSE_OVERSIGHT_014430 →sits or other among others, m instruments may income from suc lose their entire principal inves Futures and options are not ap disclosure documents. Investmen BofA Merrill Lyne action may be limited by regulations p executing any short idea contained in Foreign currency rates of exchange may adversely affec
Page: HOUSE_OVERSIGHT_014430 →Investment Strategy
ities o return expectation and attractiveness for investmen ock's fundamental equi he implemen action may be
ch (DIFC) are done so in accordance with the requirements of the DFSA conduct of business rules. Bank of America Merrill Lynch International Limited, Frankfurt Branch (BAMLI Frankfurt) distributes this report in Germany and is regulated by BaFin. This research report has been prepared and issued by MLPF&S an
Page: HOUSE_OVERSIGHT_014457 →are dif return expectation and attractiveness for investmen ock's fundamental equi eign currency rates of ex
ch (DIFC) are done so in accordance with the requirements of the DFSA conduct of business rules. Bank of America Merrill Lynch International Limited, Frankfurt Branch (BAMLI Frankfurt) distributes this report in Germany and is regulated by BaFin. This research report has been prepared and issued by MLPF&S an
Page: HOUSE_OVERSIGHT_014650 →are dif return expectation and attractiveness for investmen ock's fundamental equity rating. e for all invest
ny Registration 064 874 531), AFS License 412901 ‘Wholesale’ clients as d Authorised Deposit-Tal report in Brazil and its pre Frankfurt Branch (BAMLI Frankfurt) This research report has been prepa responsibility for research reports o security discussed in the report sho! local distribu erril Va bia Compa
Page: HOUSE_OVERSIGHT_014999 →Entities connected to both Frankfurt and Investmen

United States
LOCATION
United Kingdom
LOCATION
Donald Trump
PERSONthe Prudential Regulation Authority
ORGANIZATIONBaFin
ORGANIZATION
Marc Rich
PERSON
Michael Bloomberg
PERSON
Seoul
LOCATION
the Financial Services Agency
ORGANIZATIONthe Capital Market Authority
ORGANIZATIONthe Dubai Financial Services Authority
ORGANIZATION
Merrill Lynch
ORGANIZATION
Bank of America
ORGANIZATION
Merrill Lynch Global Wealth Management
ORGANIZATIONThe Financial Service Board
ORGANIZATION
Bank of America Corporation
ORGANIZATIONMerchant Bank
ORGANIZATION
BofA Merrill Lynch
ORGANIZATIONthe Financial Supervisory Service
ORGANIZATIONthe Securities and Futures Bureau
ORGANIZATION