LQIRUPDomR WpFQLFR FRPHUFLDO
4%-6%2 TEVGIMVS TEVE EW WSPYp~IW KPSFEMW HI WMWXIQEW JSXSZSPXEMGSW $ 3$,5$1 REWHYH RV FHUWLILFDGRV GH DFRUGR FRP R VLVWHPD Q ă ,62 ,(& SDUD SURMHFWRV GH PLQL JHUDomR GRV VHXV LQYHUVRUHV 39, 39, H GRV QRYRV LQYHUVRUHV WULIiVLFRV 3$, ă 3$, ă 3$, ă H 3$, ă ,GHQWLILFD VH FRPR R SDUFHLUR DGHTXDGR SDUD DV VROXo}HV JOREDLV GH VLVWHPDV IRWRYROWDLFRV 4%-6%2 7SPEV 7 0
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1zHYPSW 2SW WMWXIQEW JSXSZSPXEMGSW 4%-6%2 WnS YXMPM^EHSW IQ I\GPYWMZS Qz HYPSW TVSHY^MHSW WIKYRHS EW HMVIGXMZEW HE 4%-6%2 -WXS HMWXMRKYI SW TSV TSWWYMVIQ GqPYPEW WSPEVIW GVMWXEPMREW GSQ YQ IPIZEHS VIRHMQIRXS S UYI EGEVVIXE MR QIVSW FIRIJuGMSW QEW UYI XEQFqQ VIUYIV E YXMPM^E pnS HI QEXIVMEMW HI IPIZEHE UYEPMHEHI 3W QzHYPSW HE 4%-6%2 WnS JEFVMGEHSW GSRWSERXI EW RSVQEW HI UYEPMHEHI QEMW IPIZEHEW )WXnS GIV XM½GEHSW I LSQSPSKEHSW TIPE :() %WWSGMEpnS %PIQn HI 8IGRSPSKME )PqGXVMGE )PIGXVzRMGE I HI -RJSVQEpnS VIPEXMZEQIRXI k RSVQE HE 8i:
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124
LQIRUPDomR WpFQLFR FRPHUFLDO
4%-6%2 4%6')-63 4%6% %7 7309e¬)7 +03&%-7 () 7-78)1%7 *383:308%-'37
)UYMTEQIRXS )GVn 0'( GSQ MPYQMREpnS HI JYRHS I JSVXI GSRXVEWXI ENYWXIW KYMEHSW TIPS QIRY MRXIVZEPS HI VIKMWXS ZEVMjZIP MRXIVJEGI 67 SY TSVXS 97& MRXIKVEHS TEVE E EZEPMEpnS I S EVQE^IREQIRXS RYQ SVHIREHSV % MRXIV JEGI 67 MRXIKVEHE XSVRE TSWWuZIP YQE GSRWYPXE VIQSXE TSV QSHIQ
9 J +YEVH +YEVHE S R QIVS I S XMTS HI IVVSW SGSVVMHSW S XIQTS HI WIVZMpS XSXEP I E LSVE E UYI JSM HIWPMKEHS S VIPq 3 GSRXVSPS HI JVIUYsRGME I E XIRWnS XVMJjWMGE TSHIQ WIV YXMPM^EHSW YRMZIVWEPQIRXI I ENYWXEHSW HI JSVQE VjTMHE I JjGMP kW I\MKsRGMEW HS VIWTIGXMZS STIVEHSV HI VIHIW IPqGXVMGEW 3W ZEPSVIW PMQMXIW TEVE E WSFVIXIRWnS I E WYFXIRWnS EWWMQ GSQS E JVIUYsRGME HI GSVXI WYTIVMSV I MRJIVMSV TSHIQ WIV ENYWXEHSW EWWMQIXVMGEQIRXI I MRHITIRHIRXIQIRXI YRW HSW SYXVSW %PqQ HMWWS E EZEPMEpnS HE QIHMpnS HE XIRWnS TSHI IJIGXYEV WI IRXVI JEWIW SY ETIREW VIPEXMZEQIRXI E YQ TSRXS RIYXVS
1SRMXSV JSXSZSPXEMGS f YQ WMWXIQE HI GSRXVSPS VIQSXS MRHITIRHIRXI I IGSRzQMGS TEVE WMWXIQEW JSXSZSPXEMGSW 3 QSRMXSV JSXSZSPXEMGS XVERWQMXI EYXSQE XMGEQIRXI SW HEHSW HI QIHMpnS E GEHE QMRYXSW E YQ WIVZMHSV HI -RXIVRIX UYI KYEVHE I EZEPME SW FIRIJuGMSW 'SQ E ENYHE HIWXI QSRMXSV JSXSZSPXEMGS q TSWWuZIP GSRXVSPEV EXq HI^ XMTSW HMJIVIRXIW HI MRZIVWSVIW HIRXVS HI YQ WMWXIQE 2S GEWS HI SGSVVIV YQE JEPLE RS JYRGMSREQIRXS HS WMWXIQE IWXI MRJSVQE S STIVEHSV EY XSQEXMGEQIRXI HE EZEVME 3 EZMWS q TVSHY^MHS TSV 717 SY TSV IQEMP ES STIVEHSV SY ES TEVGIMVS HI WIVZMpSW (IWXI QSHS TSHI EWWIKYVEV WI S VIRHMQIRXS E PSRKS TVE^S HS WMWXIQE HI IRIVKME WSPEV 4%-6%2
7YR 'SRXVSP 8SVRE TSWWuZIP HI YQE JSVQE WMQTPIW S GSRXVSPS E ZMKMPlRGME I E EZEPMEpnS HI YQE JSVQE GPEVE HI TEVUYIW HI IRIVKME WSPEV RS MRXIVJEGI IWXVYXYVEHS HI YQ YXMPM^EHSV +VEpEW E YQ WSJX[EVI GSPSGEHS RE [IF SW GPMIRXIW TSHIQ GSRWYPXEV IQ UYEPUYIV PSGEP SW HEHSW JYRGMSREMW HS TEVUYI WSPEV HIWHI UYEPUYIV ETEVIPLS UYI TSWWEV IWXEV PMKEHS k -RXIVRIX 3W EZMWSW HI EZEVMEW SY HI VSYFSW EPqQ HI WIVIQ IQMXMHSW RS 7YR'SRXVSP RE MRXIVJEGI HS YXMPM^EHSV TSHIQ WIV IRZMEHSW EXVEZqW HI 717 SY IQEMP
'SFIVXYVEW JSXSZSPXEMGEW 4%-6%2 )WXE GSFIVXYVE JSXSZSPXEMGE TSHI WIV YXMPM^EHE XERXS IQ TEVUYIW HI IWXEGMSREQIRXS IQ QSVEHMEW GSQS IQ KVERHIW ^SREW HI IWXEGMSRE QIRXS GSQS RSW GIRXVSW GSQIVGMEMW )WXI IUYMTEQIRXS IUYMZEPI E YQ WMWXIQE QSHYPEV HI IRIVKME WSPEV I TSHI IWXIRHIV WI HI YQE QERIMVE ¾I\uZIP 9QE ½PE HI GSFIVXYVEW IQ WqVMI KEVERXI RSW YQE GSFIVXY VE GSRXuRYE E UYEP TSHI WIV GSFIVXE GSQ TEMRqMW WSPEVIW 3 WMWXIQE HI IRIVKME WSPEV MRXIKVEHS RIWXE GSFIVXYVE JSXSZSPXEMGE EPGERpE YQE TSXsRGME Qj\MQE IRXVI I O;T 2IWXI IUYMTEQIRXS TSHIQ WIV YXMPM^EHSW QzHYPSW JSXSZSPXEMGSW HI UYEPUYIV QIHMHE % GSFIVXYVE JSXSZSPXEMGE q JSVRIGMHE GSQS YQ WMWXIQE HI GLEZI RE QnS S UYEP q QYMXS WMQTPIW HI MRWXEPEV %PqQ HI YQ HIWMKR QSHIVRS I EXVEGXMZS Lj SYXVE ZERXEKEQ UYI E HMWXMRKYI q GSQTPIXEQIRXI VIGMGPjZIP
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126