Despite increasing interest in the effects of triclosan and triclocarban on human biology, current knowledge is still limited on the impact of these additives to antimicrobial personal care products on the human microbiome. A carefully designed recent study published in mSphere by Poole and colleagues [A. Poole et al. Over the last decade, two trichlorinated binuclear aromatic antimicrobials, the phenolic compound triclosan [TCS; 5-chlorodichlorophenoxy phenol] and the nonphenolic carbanilide triclocarban [TCC; 3- 4-chlorophenyl 3,4-dichlorophenyl urea], have come under intense regulatory scrutiny for purported overuse, lack of efficacy, widespread human exposure, and an array of unwanted effects on human health and the environment reviewed in reference 1. A new study by Poole et al. Consequently, all possible exposure routes, including absorption e.
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Washington, D. FORM 6-K. For the month of July, Commission File Number: Colonia Lomas de Santa Fe. Address of principal executive office. Pursuant to the requirements of the Securities Exchange Act of , the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: July 25, Reconciliation of Net income for the semester ended June 30, Amounts in millions of Mexican pesos, net of Income Tax effect.
Reconciliation of Total equity as of June 30, Reconciliation of Cash and cash equivalents as of June 30, Amounts in millions of Mexican pesos. A description of the IFRS adjustments is presented below:. Mexican Banking GAAP requires the recognition of the deferred compulsory employee profit sharing effect based on the temporary differences arising between book and tax value of the assets and liabilities, while IFRS does not considers this deferred employee profit sharing as an income tax temporary difference.
Adjustments were made to recognize the effects of the first-time IFRS adoption exemption taken in which all unrecognized actuarial gains and losses related to pension and post-employment benefits were recognized on January 1, For Mexican Banking GAAP purposes, the net pension liability represents the present value of the defined benefit obligation, plus minus the unrecognized actuarial gains or losses of the pension plan, while IFRS requires that the net pension liability reflects the full value of the underfunded status of the pension plan.
IFRS requires the immediate recognition of actuarial gains and losses of the year in other comprehensive income without subsequent recycling to profit or loss. For IFRS purposes, the Bank assesses on a forward-looking basis the expected credit losses associated with its financial assets carried at amortized cost and at fair value through other comprehensive income.
The impairment methodology applied depends on whether there has been a significant increase in credit risk; once the Bank has classified its financial assets according to its credit risk, they are individually or collectively assessed for impairment in order to recognize the allowance for impairment losses arising from credit risk.
The expected credit losses model is based on changes in credit quality since initial recognition and considers the following stages:. Such IFRS criteria differ from the related criteria for Mexican Banking GAAP under which impairment losses and provision for off-balance sheet risk are determined using prescribed formulas that are based primarily on an expected credit losses model.
In some cases, CNBV can approve the use of internal models to determine the allowance for impairment losses under Mexican Banking GAAP, as an alternative to the regulatory expected credit losses model. For IFRS purposes, the Bank determines an estimation based upon the comparison between the fair value less costs to sell and the carrying value of the non-current assets held for sale.
Due to the lack of trading volume for certain financial instruments, the quoted market prices of such instruments may not have deemed to be sufficiently current for purposes of measuring fair value under IFRS. For Mexican Banking GAAP, the balance of the loan portfolio indexed to the minimum salary is adjusted by the current minimum salary rate recognizing an increase in its balance and a deferred credit balance, which will be recognized in profit or loss in a twelve-month period as interest income.
Under IFRS, the aforementioned effect is recognized immediately in profit or loss of the period as a gain on financial assets. Subsequently, a lessee must recognize an interest expense and a decrease in the lease liability for lease payments made to the lessor, as well as a straight-line depreciation charge associated with the right-of-use asset.
Therefore, a lessee continues classifying each of its leases between operating and finance leases:. Unaudited Condensed Consolidated Balance Sheets. In millions of Mexican pesos. The accompanying notes are an integral part of these unaudited condensed consolidated interim financial statements.
Unaudited Condensed Consolidated Statements of Income. Note 1 - Activity and economic and regulatory environment. During the six-month period ended June 30, , the macroeconomic indicators have been stable, with inflation of 0.
Significant events during the period. There were no change in the interest rates and frequency of payment. Banco Santander, S. The investors which accept the offering will obtain 0. Spain for each ADS of the Bank. It is expected to make the offering and settle the exchange of shares during the second half-year of No additional significant events occurred from July 1, until these unaudited condensed consolidated interim financial statements were authorized for issue.
Note 2 - Basis of presentation of the unaudited condensed consolidated interim financial statements. The results of the six-month periods are not necessarily indicative of the results for the full year. These unaudited condensed consolidated interim financial statements should be read in conjunction with the audited financial statements of the Institution and the respective notes for the year ended December 31, as issued on March 14, Note 3 - Explanation for translation into English.
Certain accounting practices applied by the Institution may not conform to accounting principles generally accepted in the country of use. Note 4 - Significant accounting policies. These unaudited condensed consolidated interim financial statements and notes as of June 30, and and for the year ended December 31, , include balances and transactions in Mexican pesos of different purchasing power.
The accompanying unaudited condensed consolidated interim financial statements include those of the Bank and its subsidiaries mentioned below. All balances and transactions among the Bank and its subsidiaries have been eliminated. During the six-month period ended as of June 30, , no changes have occurred in the method and in the scope of consolidation.
Basic earnings per share are calculated by dividing the net income attributable to controlling interest by the weighted average number of shares outstanding during the year, excluding the average number of treasury shares, if any, held in the year. Accordingly, basic earnings per share for the six-month periods ended June 30, and were determined as follows:. In calculating diluted earnings per share, the amount of net income before non-controlling interest and the weighted average number of shares issued, excluding the average number of treasury shares, are adjusted to consider all the dilutive effects inherent to potential shares.
Accordingly, diluted earnings per share for the six-month periods ended June 30, and were determined as follows:. Changes in accounting policies applicable in Changes in Accounting Criteria issued by the Commission. These Accounting Criteria applicable to credit institutions are adjusted so that they can cancel, in the period in which they occur, the surpluses of the allowance for.
This amendment is mandatory on January 1, Improvements to NIF These Improvements to the NIF did not have a significant impact on the financial information presented by the Bank. NIF C-6, Property, plant and equipment. NIF C-6 establishes that the assets delivered or, if applicable, the assets received in an exchange of assets must be valued at their fair value. Entity must determine such valuation of fair value according to NIF B, Determination of fair value.
NIF D-3, Employee benefits. A transfer of personnel between entities with recognition of seniority implies for the entity that receives the staff the recognition of a retroactive effect of a Modification to the Plan for the introduction of a new plan.
For the entity that transfers implies an Early Settlement of Obligations. In the consolidated financial statements, the effects of the transfers between entities of the group are eliminated, unless the benefits are changed at the time of the transfer. A transfer of personnel between entities under common control with recognition of seniority involves recognizing in the stand alone financial statements of the entity that receives the staff a retroactive effect of a Modification to the Plan equivalent to an introduction of a new plan and for the entity that transfer implies an Early Settlement of Obligations.
In the consolidated financial statements, the transfer of personnel has no effect, unless the benefits are changed at the time of the transfer. The interest rate used to discount post-employment benefit obligations funded or not funded must be an interest rate without or with very low credit risk, such as the interest rate of government bonds and the interest rate of high quality corporate bonds in absolute terms in a deep market, respectively. The chosen interest rate should be used consistently over time.
The currency and term of the bonds utilized to obtain the discount rate must be consistent with the currency and the estimated term for the payment of the Defined Benefit Obligation DBO. The entity must justify the use of a certain interest rate and, in the case of a change of the discount rate, must justify this fact.
Any effect on the present value of the labor liability from a change in the discount rate from government bonds to corporate bonds or vice versa should be considered as a change in accounting estimate and recognized prospectively, when this occurs, in the income statement of the period based on the provisions of NIF B-1, Accounting changes and error corrections.
Introduction of a new benefit plan,. Benefits assumed by the transfer of employees,. Withdrawal of a benefit plan, or. Subsequent changes in benefits payable in an established benefit plan; and.
A Modification to the Plan occurs when an entity introduces a previously non-existent plan, withdraws or changes the benefits of a defined benefit plan and a Personnel Reduction occurs when an entity significantly reduces the obligation for a reduction in the number of employees covered by the plan it may arise from an isolated event, such as the closure of a plant or the discontinuance of an operation ; this generates a LCPS that is equivalent to the difference between the current DBO and the previous DBO, including, in the case of Personnel Reduction, the payments made by the entity, which corresponds to the increase or decrease in the obligation due to the retroactive effect of previous services on the benefits to employees when performing a Modification to the Plan or Personnel Reduction.
Note 5 - Investment in securities. Trading securities - As of June 30, and December 31, , trading securities were as follows:. Securities available for sale - As of June 30, and December 31, , securities available for sale are comprised as follows:.
Securities held to maturity - As of June 30, and December 31, , securities held to maturity were as follows:. Note 6 - Sale and repurchase agreements. When the Institution acts as purchaser:. As of June 30, and December 31, , the sale and repurchase agreements performed by the Institution, acting as purchaser, were agreed at an average term of 3 and 4 days, respectively.
When the Institution acts as seller:. As of June 30, and December 31, , the sale and repurchase agreements performed by the Institution, acting as seller, were agreed at an average term of 7 and 6 days, respectively. Note 7 - Derivatives.
As of June 30, and December 31, , the financial derivatives instruments position is as follows:. Note 8 — Loan portfolio. As of June 30, and December 31, , the loans portfolio by type of customer and currency are as follows:. During the six-month period ended June 30, , the average placement interest rate was Loans to related parties.
These loans were eliminated from the unaudited condensed consolidated balance sheet for consolidation purposes. Available lines of credit under credit card loans. As of June 30, and December 31, , loans granted to the Government entities, were as follows:.
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Lessons Learned from Probing for Impacts of Triclosan and Triclocarban on Human Microbiomes
Washington, D. FORM 6-K. For the month of July, Commission File Number: Colonia Lomas de Santa Fe. Address of principal executive office.
Mogar Amends Superannuation Industry Supervision Regulations with regard to in-house assets of superannuation funds. Inter alia provides for superannuation interest, and method of commutation of pension into lump leey. Repeals the Public Sector Superannuation Act Part V regulates determination of value of certain superannuation interests; Part VI entitlement of non-member spouse in respect of certain superannuation interests. Determines which persons are not taken to be employees. Brabar Inter alia provides for commutation of allocated annuities and pensions, and commutation of other annuities and pensions. Fiduciary duty of pension fund manager, custodian, account operator, conductor of the registry of participants Article X: Amends the Retirement Savings Accounts Regulations by providing for an exempt public sector superannuation scheme. An Act to provide for the administration of certain Australian Government superannuation schemes by a single body, and for related purposes.
Argentina - Social security general standards - Law, Act. Modifica y deroga disposiciones de la ley de contrato de trabajo texto ordenado de ; Serie Legislativa, Arg. Se establece un sistema integral de prestaciones por desempleo. Adoption : ARGL Argentina - Social security general standards - Miscellaneous circular, directive, legal notice, instruction, etc.