SlideShare una empresa de Scribd logo
1 de 55
Part Five Fundamentals  of Financial Institutions
Chapter 15 Why Do Financial Institutions Exist?
Chapter Preview ,[object Object]
Chapter Preview ,[object Object],[object Object],[object Object],[object Object]
Chapter Preview (cont.) ,[object Object],[object Object],[object Object],[object Object]
Basic Facts About Financial Structure Throughout the World ,[object Object]
Basic Facts About Financial Structure Throughout the World ,[object Object]
Sources of Foreign External Finance
Facts of Financial Structure ,[object Object],[object Object]
Facts of Financial Structure ,[object Object],[object Object]
Facts of Financial Structure ,[object Object],[object Object]
Facts of Financial Structure ,[object Object],[object Object]
Transactions Costs ,[object Object],[object Object],[object Object],[object Object],[object Object]
Transactions Costs ,[object Object],[object Object],[object Object],[object Object]
Asymmetric Information: Adverse Selection and Moral Hazard ,[object Object],[object Object]
Asymmetric Information: Adverse Selection and Moral Hazard ,[object Object],[object Object],[object Object]
Asymmetric Information: Adverse Selection and Moral Hazard ,[object Object],[object Object],[object Object],[object Object]
Asymmetric Information: Adverse Selection and Moral Hazard ,[object Object],[object Object],[object Object],[object Object]
Asymmetric Information: Adverse Selection and Moral Hazard ,[object Object],[object Object]
The Lemons Problem: How Adverse Selection Influences Financial Structure ,[object Object],[object Object],[object Object],[object Object]
The Lemons Problem: How Adverse Selection Influences Financial Structure ,[object Object],[object Object],[object Object]
The Lemons Problem: How Adverse Selection Influences Financial Structure ,[object Object],[object Object],[object Object],[object Object]
Tools to Help Solve Adverse Selection (Lemons) Problems ,[object Object],[object Object],[object Object],[object Object]
Tools to Help Solve Adverse Selection (Lemons) Problems ,[object Object],[object Object],[object Object],[object Object]
Tools to Help Solve Adverse Selection (Lemons) Problems ,[object Object],[object Object]
The Enron Implosion ,[object Object],[object Object],[object Object]
The Enron Implosion ,[object Object]
How Moral Hazard Affects the Choice Between Debt and Equity Contracts ,[object Object],[object Object],[object Object]
How Moral Hazard Affects the Choice Between Debt and Equity Contracts ,[object Object]
How Moral Hazard Affects the Choice Between Debt and Equity Contracts ,[object Object]
How Moral Hazard Affects the Choice Between Debt and Equity Contracts ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
How Moral Hazard Influences Financial Structure in Debt Markets ,[object Object]
How Moral Hazard Influences Financial Structure in Debt Markets ,[object Object],[object Object]
How Moral Hazard Influences Financial Structure in Debt Markets ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
How Moral Hazard Influences Financial Structure in Debt Markets ,[object Object],[object Object],[object Object]
Asymmetric Information Problems and Tools to Solve Them
Case: Financial Development  and Economic Growth ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Financial Crises and Aggregate Economic Activity ,[object Object]
Is China a Counter-example? ,[object Object],[object Object],[object Object]
Is China a Counter-example? ,[object Object],[object Object]
Financial Crises and Aggregate Economic Activity ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Financial Crises and Aggregate Economic Activity ,[object Object],[object Object],[object Object],[object Object]
Case: U.S. Financial Crisis ,[object Object],[object Object]
 
Case: Financial Crises in Emerging Market Countries: Mexico, East Asia, and Argentina ,[object Object],[object Object]
Case: Financial Crises in Emerging Market Countries: Mexico, East Asia, and Argentina ,[object Object]
Case: Financial Crises in Emerging Market Countries: Mexico, East Asia, and Argentina ,[object Object]
Case: Financial Crises in Emerging Market Countries: Mexico, East Asia, and Argentina ,[object Object]
 
Case: The Great Depression ,[object Object],[object Object]
Case: The Great Depression ,[object Object]
Chapter Summary ,[object Object],[object Object]
Chapter Summary (cont.) ,[object Object],[object Object]
Chapter Summary (cont.) ,[object Object],[object Object]
Chapter Summary (cont.) ,[object Object]

Más contenido relacionado

La actualidad más candente

Chapter 02_Overview of the Financial System
Chapter 02_Overview of the Financial SystemChapter 02_Overview of the Financial System
Chapter 02_Overview of the Financial System
Rusman Mukhlis
 
Chapter 11_The Stock Market
Chapter 11_The Stock MarketChapter 11_The Stock Market
Chapter 11_The Stock Market
Rusman Mukhlis
 
Fundamentals of financial_institutions_powerpoint
Fundamentals of financial_institutions_powerpointFundamentals of financial_institutions_powerpoint
Fundamentals of financial_institutions_powerpoint
he22_sinceforum
 
Chapter 09_The Money Markets
Chapter 09_The Money MarketsChapter 09_The Money Markets
Chapter 09_The Money Markets
Rusman Mukhlis
 
Chapter 24_Risk Management in Financial Institutions
Chapter 24_Risk Management in Financial InstitutionsChapter 24_Risk Management in Financial Institutions
Chapter 24_Risk Management in Financial Institutions
Rusman Mukhlis
 
Chapter 14_The International Financial System
Chapter 14_The International Financial SystemChapter 14_The International Financial System
Chapter 14_The International Financial System
Rusman Mukhlis
 
Chapter 21_The Mutual Fund Industry
Chapter 21_The Mutual Fund IndustryChapter 21_The Mutual Fund Industry
Chapter 21_The Mutual Fund Industry
Rusman Mukhlis
 
Chapter 04_Why Do Interest Rate Change?
Chapter 04_Why Do Interest Rate Change?Chapter 04_Why Do Interest Rate Change?
Chapter 04_Why Do Interest Rate Change?
Rusman Mukhlis
 
Risk management in financial institution
Risk management in financial institutionRisk management in financial institution
Risk management in financial institution
Ujjwal 'Shanu'
 
Chapter 13_The Foreign Exchange Market
Chapter 13_The Foreign Exchange MarketChapter 13_The Foreign Exchange Market
Chapter 13_The Foreign Exchange Market
Rusman Mukhlis
 
Chapter 10_The Bond Market
Chapter 10_The Bond MarketChapter 10_The Bond Market
Chapter 10_The Bond Market
Rusman Mukhlis
 
Chapter 06_ Are Financial Markets Efficient?
Chapter 06_ Are Financial Markets Efficient?Chapter 06_ Are Financial Markets Efficient?
Chapter 06_ Are Financial Markets Efficient?
Rusman Mukhlis
 
Chapter 12_The Mortgage Markets
Chapter 12_The Mortgage MarketsChapter 12_The Mortgage Markets
Chapter 12_The Mortgage Markets
Rusman Mukhlis
 

La actualidad más candente (20)

Chapter 02_Overview of the Financial System
Chapter 02_Overview of the Financial SystemChapter 02_Overview of the Financial System
Chapter 02_Overview of the Financial System
 
Chapter 11_The Stock Market
Chapter 11_The Stock MarketChapter 11_The Stock Market
Chapter 11_The Stock Market
 
Fundamentals of financial_institutions_powerpoint
Fundamentals of financial_institutions_powerpointFundamentals of financial_institutions_powerpoint
Fundamentals of financial_institutions_powerpoint
 
Chapter 09_The Money Markets
Chapter 09_The Money MarketsChapter 09_The Money Markets
Chapter 09_The Money Markets
 
Chapter 24_Risk Management in Financial Institutions
Chapter 24_Risk Management in Financial InstitutionsChapter 24_Risk Management in Financial Institutions
Chapter 24_Risk Management in Financial Institutions
 
Chapter 14_The International Financial System
Chapter 14_The International Financial SystemChapter 14_The International Financial System
Chapter 14_The International Financial System
 
Chapter 21_The Mutual Fund Industry
Chapter 21_The Mutual Fund IndustryChapter 21_The Mutual Fund Industry
Chapter 21_The Mutual Fund Industry
 
Why study Money, Banking and Finance
Why study Money, Banking and FinanceWhy study Money, Banking and Finance
Why study Money, Banking and Finance
 
Central Banks
Central BanksCentral Banks
Central Banks
 
Financial Markets & Institutions
Financial Markets & InstitutionsFinancial Markets & Institutions
Financial Markets & Institutions
 
Chapter 2 Financial Markets & Institutions
Chapter 2 Financial Markets & InstitutionsChapter 2 Financial Markets & Institutions
Chapter 2 Financial Markets & Institutions
 
Chapter 04_Why Do Interest Rate Change?
Chapter 04_Why Do Interest Rate Change?Chapter 04_Why Do Interest Rate Change?
Chapter 04_Why Do Interest Rate Change?
 
Financial market and institutions
Financial market and institutionsFinancial market and institutions
Financial market and institutions
 
Risk management in financial institution
Risk management in financial institutionRisk management in financial institution
Risk management in financial institution
 
Chapter 13_The Foreign Exchange Market
Chapter 13_The Foreign Exchange MarketChapter 13_The Foreign Exchange Market
Chapter 13_The Foreign Exchange Market
 
Chapter 10_The Bond Market
Chapter 10_The Bond MarketChapter 10_The Bond Market
Chapter 10_The Bond Market
 
Chapter 06_ Are Financial Markets Efficient?
Chapter 06_ Are Financial Markets Efficient?Chapter 06_ Are Financial Markets Efficient?
Chapter 06_ Are Financial Markets Efficient?
 
Interest rates
Interest ratesInterest rates
Interest rates
 
An Overview of Financial System
An Overview of Financial SystemAn Overview of Financial System
An Overview of Financial System
 
Chapter 12_The Mortgage Markets
Chapter 12_The Mortgage MarketsChapter 12_The Mortgage Markets
Chapter 12_The Mortgage Markets
 

Destacado (10)

M17_MISH1520_06_PPW_C16.ppt
M17_MISH1520_06_PPW_C16.pptM17_MISH1520_06_PPW_C16.ppt
M17_MISH1520_06_PPW_C16.ppt
 
Adverse selection and moral hazard in the finance and supply of health care
Adverse selection and moral hazard in the finance and supply of health careAdverse selection and moral hazard in the finance and supply of health care
Adverse selection and moral hazard in the finance and supply of health care
 
Financial markets
Financial marketsFinancial markets
Financial markets
 
Role of financial markets and institutions ch.1 (uts)
Role of financial markets and institutions   ch.1 (uts)Role of financial markets and institutions   ch.1 (uts)
Role of financial markets and institutions ch.1 (uts)
 
Financial risk management ppt @ mba finance
Financial risk management  ppt @ mba financeFinancial risk management  ppt @ mba finance
Financial risk management ppt @ mba finance
 
Fundamentals of Financial Markets
Fundamentals of Financial MarketsFundamentals of Financial Markets
Fundamentals of Financial Markets
 
What is Money ?
What is Money ?What is Money ?
What is Money ?
 
Ch24 mish11 embfm
Ch24 mish11 embfmCh24 mish11 embfm
Ch24 mish11 embfm
 
bond market
bond marketbond market
bond market
 
M21 mish1520 06_ppw_c20
M21 mish1520 06_ppw_c20M21 mish1520 06_ppw_c20
M21 mish1520 06_ppw_c20
 

Similar a M16_MISH1520_06_PPW_C15.ppt

Week-1 Into to Money and Bankingand Basic Overview of U.S. Fin.docx
Week-1 Into to Money and Bankingand Basic Overview of U.S. Fin.docxWeek-1 Into to Money and Bankingand Basic Overview of U.S. Fin.docx
Week-1 Into to Money and Bankingand Basic Overview of U.S. Fin.docx
alanfhall8953
 
PAGE 280APPLYING THE CONCEPTTRUTH OR CONSEQUENCES PONZI SCHEM.docx
PAGE 280APPLYING THE CONCEPTTRUTH OR CONSEQUENCES PONZI SCHEM.docxPAGE 280APPLYING THE CONCEPTTRUTH OR CONSEQUENCES PONZI SCHEM.docx
PAGE 280APPLYING THE CONCEPTTRUTH OR CONSEQUENCES PONZI SCHEM.docx
smile790243
 
832 AM ut.blackboard.com HW #1-The Federal Reserve and Monetary Po.pdf
832 AM ut.blackboard.com  HW #1-The Federal Reserve and Monetary Po.pdf832 AM ut.blackboard.com  HW #1-The Federal Reserve and Monetary Po.pdf
832 AM ut.blackboard.com HW #1-The Federal Reserve and Monetary Po.pdf
FashionBoutiquedelhi
 
Financial EthicsLearning ObjectivesAfter completing th.docx
Financial EthicsLearning ObjectivesAfter completing th.docxFinancial EthicsLearning ObjectivesAfter completing th.docx
Financial EthicsLearning ObjectivesAfter completing th.docx
voversbyobersby
 

Similar a M16_MISH1520_06_PPW_C15.ppt (9)

Week-1 Into to Money and Bankingand Basic Overview of U.S. Fin.docx
Week-1 Into to Money and Bankingand Basic Overview of U.S. Fin.docxWeek-1 Into to Money and Bankingand Basic Overview of U.S. Fin.docx
Week-1 Into to Money and Bankingand Basic Overview of U.S. Fin.docx
 
PAGE 280APPLYING THE CONCEPTTRUTH OR CONSEQUENCES PONZI SCHEM.docx
PAGE 280APPLYING THE CONCEPTTRUTH OR CONSEQUENCES PONZI SCHEM.docxPAGE 280APPLYING THE CONCEPTTRUTH OR CONSEQUENCES PONZI SCHEM.docx
PAGE 280APPLYING THE CONCEPTTRUTH OR CONSEQUENCES PONZI SCHEM.docx
 
Intermediation
IntermediationIntermediation
Intermediation
 
832 AM ut.blackboard.com HW #1-The Federal Reserve and Monetary Po.pdf
832 AM ut.blackboard.com  HW #1-The Federal Reserve and Monetary Po.pdf832 AM ut.blackboard.com  HW #1-The Federal Reserve and Monetary Po.pdf
832 AM ut.blackboard.com HW #1-The Federal Reserve and Monetary Po.pdf
 
How To Make Money From Indian Stock Market
How To Make Money From Indian Stock MarketHow To Make Money From Indian Stock Market
How To Make Money From Indian Stock Market
 
(292) failure can be good
(292)   failure can be good(292)   failure can be good
(292) failure can be good
 
Bank Loans
Bank LoansBank Loans
Bank Loans
 
Financial EthicsLearning ObjectivesAfter completing th.docx
Financial EthicsLearning ObjectivesAfter completing th.docxFinancial EthicsLearning ObjectivesAfter completing th.docx
Financial EthicsLearning ObjectivesAfter completing th.docx
 
Christmas Writing Paper Have Fun Teaching
Christmas Writing Paper  Have Fun TeachingChristmas Writing Paper  Have Fun Teaching
Christmas Writing Paper Have Fun Teaching
 

Último

VIP Independent Call Girls in Taloja 🌹 9920725232 ( Call Me ) Mumbai Escorts ...
VIP Independent Call Girls in Taloja 🌹 9920725232 ( Call Me ) Mumbai Escorts ...VIP Independent Call Girls in Taloja 🌹 9920725232 ( Call Me ) Mumbai Escorts ...
VIP Independent Call Girls in Taloja 🌹 9920725232 ( Call Me ) Mumbai Escorts ...
dipikadinghjn ( Why You Choose Us? ) Escorts
 
VIP Independent Call Girls in Andheri 🌹 9920725232 ( Call Me ) Mumbai Escorts...
VIP Independent Call Girls in Andheri 🌹 9920725232 ( Call Me ) Mumbai Escorts...VIP Independent Call Girls in Andheri 🌹 9920725232 ( Call Me ) Mumbai Escorts...
VIP Independent Call Girls in Andheri 🌹 9920725232 ( Call Me ) Mumbai Escorts...
dipikadinghjn ( Why You Choose Us? ) Escorts
 
VIP Independent Call Girls in Mumbai 🌹 9920725232 ( Call Me ) Mumbai Escorts ...
VIP Independent Call Girls in Mumbai 🌹 9920725232 ( Call Me ) Mumbai Escorts ...VIP Independent Call Girls in Mumbai 🌹 9920725232 ( Call Me ) Mumbai Escorts ...
VIP Independent Call Girls in Mumbai 🌹 9920725232 ( Call Me ) Mumbai Escorts ...
dipikadinghjn ( Why You Choose Us? ) Escorts
 
( Jasmin ) Top VIP Escorts Service Dindigul 💧 7737669865 💧 by Dindigul Call G...
( Jasmin ) Top VIP Escorts Service Dindigul 💧 7737669865 💧 by Dindigul Call G...( Jasmin ) Top VIP Escorts Service Dindigul 💧 7737669865 💧 by Dindigul Call G...
( Jasmin ) Top VIP Escorts Service Dindigul 💧 7737669865 💧 by Dindigul Call G...
dipikadinghjn ( Why You Choose Us? ) Escorts
 
From Luxury Escort Service Kamathipura : 9352852248 Make on-demand Arrangemen...
From Luxury Escort Service Kamathipura : 9352852248 Make on-demand Arrangemen...From Luxury Escort Service Kamathipura : 9352852248 Make on-demand Arrangemen...
From Luxury Escort Service Kamathipura : 9352852248 Make on-demand Arrangemen...
From Luxury Escort : 9352852248 Make on-demand Arrangements Near yOU
 
VIP Kalyan Call Girls 🌐 9920725232 🌐 Make Your Dreams Come True With Mumbai E...
VIP Kalyan Call Girls 🌐 9920725232 🌐 Make Your Dreams Come True With Mumbai E...VIP Kalyan Call Girls 🌐 9920725232 🌐 Make Your Dreams Come True With Mumbai E...
VIP Kalyan Call Girls 🌐 9920725232 🌐 Make Your Dreams Come True With Mumbai E...
roshnidevijkn ( Why You Choose Us? ) Escorts
 
VIP Call Girl in Mira Road 💧 9920725232 ( Call Me ) Get A New Crush Everyday ...
VIP Call Girl in Mira Road 💧 9920725232 ( Call Me ) Get A New Crush Everyday ...VIP Call Girl in Mira Road 💧 9920725232 ( Call Me ) Get A New Crush Everyday ...
VIP Call Girl in Mira Road 💧 9920725232 ( Call Me ) Get A New Crush Everyday ...
dipikadinghjn ( Why You Choose Us? ) Escorts
 

Último (20)

VIP Independent Call Girls in Taloja 🌹 9920725232 ( Call Me ) Mumbai Escorts ...
VIP Independent Call Girls in Taloja 🌹 9920725232 ( Call Me ) Mumbai Escorts ...VIP Independent Call Girls in Taloja 🌹 9920725232 ( Call Me ) Mumbai Escorts ...
VIP Independent Call Girls in Taloja 🌹 9920725232 ( Call Me ) Mumbai Escorts ...
 
Webinar on E-Invoicing for Fintech Belgium
Webinar on E-Invoicing for Fintech BelgiumWebinar on E-Invoicing for Fintech Belgium
Webinar on E-Invoicing for Fintech Belgium
 
VIP Independent Call Girls in Andheri 🌹 9920725232 ( Call Me ) Mumbai Escorts...
VIP Independent Call Girls in Andheri 🌹 9920725232 ( Call Me ) Mumbai Escorts...VIP Independent Call Girls in Andheri 🌹 9920725232 ( Call Me ) Mumbai Escorts...
VIP Independent Call Girls in Andheri 🌹 9920725232 ( Call Me ) Mumbai Escorts...
 
VIP Independent Call Girls in Mumbai 🌹 9920725232 ( Call Me ) Mumbai Escorts ...
VIP Independent Call Girls in Mumbai 🌹 9920725232 ( Call Me ) Mumbai Escorts ...VIP Independent Call Girls in Mumbai 🌹 9920725232 ( Call Me ) Mumbai Escorts ...
VIP Independent Call Girls in Mumbai 🌹 9920725232 ( Call Me ) Mumbai Escorts ...
 
W.D. Gann Theory Complete Information.pdf
W.D. Gann Theory Complete Information.pdfW.D. Gann Theory Complete Information.pdf
W.D. Gann Theory Complete Information.pdf
 
Booking open Available Pune Call Girls Wadgaon Sheri 6297143586 Call Hot Ind...
Booking open Available Pune Call Girls Wadgaon Sheri  6297143586 Call Hot Ind...Booking open Available Pune Call Girls Wadgaon Sheri  6297143586 Call Hot Ind...
Booking open Available Pune Call Girls Wadgaon Sheri 6297143586 Call Hot Ind...
 
Mira Road Memorable Call Grls Number-9833754194-Bhayandar Speciallty Call Gir...
Mira Road Memorable Call Grls Number-9833754194-Bhayandar Speciallty Call Gir...Mira Road Memorable Call Grls Number-9833754194-Bhayandar Speciallty Call Gir...
Mira Road Memorable Call Grls Number-9833754194-Bhayandar Speciallty Call Gir...
 
( Jasmin ) Top VIP Escorts Service Dindigul 💧 7737669865 💧 by Dindigul Call G...
( Jasmin ) Top VIP Escorts Service Dindigul 💧 7737669865 💧 by Dindigul Call G...( Jasmin ) Top VIP Escorts Service Dindigul 💧 7737669865 💧 by Dindigul Call G...
( Jasmin ) Top VIP Escorts Service Dindigul 💧 7737669865 💧 by Dindigul Call G...
 
From Luxury Escort Service Kamathipura : 9352852248 Make on-demand Arrangemen...
From Luxury Escort Service Kamathipura : 9352852248 Make on-demand Arrangemen...From Luxury Escort Service Kamathipura : 9352852248 Make on-demand Arrangemen...
From Luxury Escort Service Kamathipura : 9352852248 Make on-demand Arrangemen...
 
20240419-SMC-submission-Annual-Superannuation-Performance-Test-–-design-optio...
20240419-SMC-submission-Annual-Superannuation-Performance-Test-–-design-optio...20240419-SMC-submission-Annual-Superannuation-Performance-Test-–-design-optio...
20240419-SMC-submission-Annual-Superannuation-Performance-Test-–-design-optio...
 
(INDIRA) Call Girl Srinagar Call Now 8617697112 Srinagar Escorts 24x7
(INDIRA) Call Girl Srinagar Call Now 8617697112 Srinagar Escorts 24x7(INDIRA) Call Girl Srinagar Call Now 8617697112 Srinagar Escorts 24x7
(INDIRA) Call Girl Srinagar Call Now 8617697112 Srinagar Escorts 24x7
 
VIP Kalyan Call Girls 🌐 9920725232 🌐 Make Your Dreams Come True With Mumbai E...
VIP Kalyan Call Girls 🌐 9920725232 🌐 Make Your Dreams Come True With Mumbai E...VIP Kalyan Call Girls 🌐 9920725232 🌐 Make Your Dreams Come True With Mumbai E...
VIP Kalyan Call Girls 🌐 9920725232 🌐 Make Your Dreams Come True With Mumbai E...
 
Kharghar Blowjob Housewife Call Girls NUmber-9833754194-CBD Belapur Internati...
Kharghar Blowjob Housewife Call Girls NUmber-9833754194-CBD Belapur Internati...Kharghar Blowjob Housewife Call Girls NUmber-9833754194-CBD Belapur Internati...
Kharghar Blowjob Housewife Call Girls NUmber-9833754194-CBD Belapur Internati...
 
Call Girls in New Friends Colony Delhi 💯 Call Us 🔝9205541914 🔝( Delhi) Escort...
Call Girls in New Friends Colony Delhi 💯 Call Us 🔝9205541914 🔝( Delhi) Escort...Call Girls in New Friends Colony Delhi 💯 Call Us 🔝9205541914 🔝( Delhi) Escort...
Call Girls in New Friends Colony Delhi 💯 Call Us 🔝9205541914 🔝( Delhi) Escort...
 
Vip Call US 📞 7738631006 ✅Call Girls In Sakinaka ( Mumbai )
Vip Call US 📞 7738631006 ✅Call Girls In Sakinaka ( Mumbai )Vip Call US 📞 7738631006 ✅Call Girls In Sakinaka ( Mumbai )
Vip Call US 📞 7738631006 ✅Call Girls In Sakinaka ( Mumbai )
 
Booking open Available Pune Call Girls Shivane 6297143586 Call Hot Indian Gi...
Booking open Available Pune Call Girls Shivane  6297143586 Call Hot Indian Gi...Booking open Available Pune Call Girls Shivane  6297143586 Call Hot Indian Gi...
Booking open Available Pune Call Girls Shivane 6297143586 Call Hot Indian Gi...
 
Top Rated Pune Call Girls Dighi ⟟ 6297143586 ⟟ Call Me For Genuine Sex Servi...
Top Rated  Pune Call Girls Dighi ⟟ 6297143586 ⟟ Call Me For Genuine Sex Servi...Top Rated  Pune Call Girls Dighi ⟟ 6297143586 ⟟ Call Me For Genuine Sex Servi...
Top Rated Pune Call Girls Dighi ⟟ 6297143586 ⟟ Call Me For Genuine Sex Servi...
 
Vasai-Virar High Profile Model Call Girls📞9833754194-Nalasopara Satisfy Call ...
Vasai-Virar High Profile Model Call Girls📞9833754194-Nalasopara Satisfy Call ...Vasai-Virar High Profile Model Call Girls📞9833754194-Nalasopara Satisfy Call ...
Vasai-Virar High Profile Model Call Girls📞9833754194-Nalasopara Satisfy Call ...
 
Kopar Khairane Russian Call Girls Number-9833754194-Navi Mumbai Fantastic Unl...
Kopar Khairane Russian Call Girls Number-9833754194-Navi Mumbai Fantastic Unl...Kopar Khairane Russian Call Girls Number-9833754194-Navi Mumbai Fantastic Unl...
Kopar Khairane Russian Call Girls Number-9833754194-Navi Mumbai Fantastic Unl...
 
VIP Call Girl in Mira Road 💧 9920725232 ( Call Me ) Get A New Crush Everyday ...
VIP Call Girl in Mira Road 💧 9920725232 ( Call Me ) Get A New Crush Everyday ...VIP Call Girl in Mira Road 💧 9920725232 ( Call Me ) Get A New Crush Everyday ...
VIP Call Girl in Mira Road 💧 9920725232 ( Call Me ) Get A New Crush Everyday ...
 

M16_MISH1520_06_PPW_C15.ppt