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Thrift Savings Plan Fund InFormatIon 2012

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The small size of the private bond market also constrains its role. One of important benefits of a developed private bond market is that it can act as an alternative funding source when corporations’ access to overseas markets is limited or in the face of a domestic bank credit crunch. The disruption in the global money and credit markets in 2008 led to a liquidity squeeze for Brazilian corporations and financial firms. However, issuance of private bonds decreased during the crisis period (see Figure 12), reflecting in part the difficulties in efficient pricing and relatively short track records for borrowers....
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Thrift Savings Plan Fund InFormatIon 2012

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