Wrangling with risk-based capital

first_img 3SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr It’s time for a more rational approach to managing risk.by: James CollinsLast Thanksgiving—for the first time ever—my wife attempted to make a Tofurky. The commentary from the kitchen was, as we say, rather illuminating:“Wait, which one is the tofu? Wait, that’s the gravy?”“Why is the cat circling my feet and why do I smell canned cat food?”“No microwave instructions????”“Would it be bad if I added chicken stock to it?” (Answer is no, chicken stock is like donated plasma from chickens).Tofurky is just like other misnamed foods such as “Spaghetti squash” (which is as far from spaghetti as Lindsey Lohan is from being an actress) and Kale (which looks, feels, and reminds you of lettuce but tastes like something your mother would mend denim jeans with).And that brings us to something else that isn’t what it seems: NCUA’s Risk Based Capital proposal.Since the first attempt to establish the rule had a “little bit of pushback,” per NCUA—which is a bit like saying “the defensive front line of the Arizona Cardinals strongly recommends that the opposing running back not advance”—the plan is to try again.On its surface, NCUA has a daunting task. It must encapsulate all of the following risks into a simple, easy-to-understand ratio: continue reading »last_img read more

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Washington anthrax alarms appear false

first_imgMar 16, 2005 (CIDRAP News) – The anthrax alert that shut down several government buildings in the Washington, DC, area this week and put hundreds of workers on preventive antibiotic treatment apparently was a false alarm. Testing of more than 70 samples from a mail facility near the Pentagon in Arlington, Va., and a mailroom at an office complex in nearby Falls Church, Va., showed no trace of anthrax, the Washington Post reported today. This week’s episode sparked some complaints of lack of communication and coordination between government agencies. Virginia and Fairfax County officials were angry that DoD didn’t alert them immediately about the anthrax alert at the Pentagon facility, according to the Post. Also, the story said, a Bush administration official voiced concern that the Department of Homeland Security had not been alerted. The Post report said DoD officials had recommended that nearly 700 DoD workers take preventive antibiotics. Federal and local health officials recommended that they continue taking them until final test results are in, the story said. The post office, on V Street Northeast, was to reopen at noon today, the Post reported. Postal Service spokesman Gerry McKiernan said workers at the site who had started taking antibiotics were being told they could discontinue them. The episode began the morning of Mar 14, when a military contractor that handles biohazard monitoring at the Pentagon mail facility reported evidence of anthrax on a filter that had been sampled Mar 10. The mail facility was closed, and 263 workers there provided nasal swab samples for testing. Winkenwerder said the negative follow-up test results in the current episode contrasted sharply with what happened in 2001, according to the AFPS report. At that time, “There were multiple positive tests from the environment, sort of all over the place,” he said. “We don’t have any of that at this time, despite a lot of testing.” A sensor in a mailroom at the Skyline Five Place sounded an alarm at 2:30 p.m. the same day. Emergency crews were called, and about 800 workers in three connected buildings were confined there for 6 hours. The Pentagon sample that tested positive in the contractor’s lab was subsequently retested by the US Army Research Institute of Infectious Diseases (USAMRIID) in Maryland. There, a polymerase chain reaction test confirmed the positive finding early yesterday morning. But subsequent culturing of samples to detect live bacteria yielded only negative findings, the Post reported today. This week’s alert had prompted the government to close a Washington post office that processes mail for the DoD and other government agencies and to recommend antibiotic treatment for about 200 workers there. Mail delivered to that facility is also irradiated before it gets there.center_img An unnamed military official told the Post and the New York Times that contamination in a military contractor’s laboratory in Richmond, Va., might have triggered the initial finding of anthrax on a filter from the Pentagon mail facility on Mar 14. There was no indication in today’s reports what might have caused the anthrax alert later the same day in a Department of Defense (DoD) mailroom at the Falls Church complex, called Baileys Crossroads Skyline. Fairfax County officials announced this afternoon that the complex would reopen tomorrow, but that one suite would remain closed pending further test results. The military official quoted anonymously by the Times said the original anthrax finding in the contractor’s lab appeared to be related to quality control problems. He said labs that test for anthrax normally keep a sample of anthrax on hand to calibrate equipment. Evidence suggested, he said, that this sample had somehow contaminated the sample from the filter at the Pentagon mail facility. The same contaminated sample then was tested by USAMRIID, he said. DoD officials said they had found no link between the alerts at the Pentagon facility and the Skyline Five complex, according to the Post. Officials have said there was little chance of live anthrax spores contaminating either building via mail deliveries, because all mail to both facilities is irradiated before it arrives. Routine irradiation to kill pathogens was begun as a result of the mail-borne anthrax releases of October 2001, which killed five people and sickened 17 others. See also: DoD’s top health officer, Dr. William J. Winkenwerder, said authorities didn’t find any mail that could have triggered detection equipment, according to a report by DoD’s American Forces Press Service (AFPS). Nor did the government receive any threats, the Post said. Mar 16 Fairfax County statementhttp://www.co.fairfax.va.us/news/2005/05086.htmlast_img read more

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South Korea declares new ‘special care zone’ as coronavirus spreads

first_imgDozens of newly commissioned military nurses were due to begin work in Daegu on Thursday, the health ministry said.The Korea Centers for Disease Control and Prevention reported three more deaths from the virus, bringing the total in the country to 35.NEW US CASESUS Forces Korea (USFK) reported two new cases, for a total of six cases in soldiers, employees or people related to the roughly 28,500 troops stationed in South Korea.Despite the new cases, USFK had resumed sending troops to bases in Daegu and surrounding areas, according to military newspaper Stars and Stripes.Commanders believed the bases were protected from the outside population, and that the troop rotations were needed to maintain readiness in the face of continued threats from nuclear-armed North Korea, the newspaper reported.Australia’s move to ban the arrival of foreigners from South Korea is a blow to Seoul’s efforts to prevent the United States from imposing such restrictions.South Korean officials met the US ambassador in Seoul on Wednesday to urge the United States not to limit travel.According to the US State Department, anyone with a fever of 100.4 F (38 C) is already banned from boarding direct flights from South Korea to the United States.Korean Air Lines said on Thursday it would screen all passengers departing Incheon airport for high temperatures and reject those deemed a risk.South Korea sent three “rapid response” teams to Vietnam on Thursday to assist more than 270 citizens quarantined in that country over coronavirus concerns, the foreign ministry said.Topics : Gyeongsan has seen a spike in new cases, including at a nursing home. Similar zones have been declared around neighbouring Daegu city and Cheongdo County.Around 75% of all cases in South Korea are in and around Daegu, the country’s fourth-largest city, where the flu-like virus that emerged from China late last year has spread rapidly through members of a religious group.”Everyday is sad and tough like a war. But our Daegu citizens are showing surprise wisdom and courage,” Daegu Mayor Kwon Young-jin told reporters on Thursday.Officials said hospitals in the hardest hit areas were struggling to accommodate new patients. Daegu city officials said 2,117 patients were waiting for rooms in the city. South Korea declared a “special care zone” on Thursday around a second city hit hard by the coronavirus and the US military confirmed two new cases among relatives of its troops in the country, which is battling the biggest epidemic outside China.Australia became the latest country to impose travel restrictions on South Koreans, with almost 100 nations now limiting arrivals from the East Asian country which reported 438 new coronavirus cases on Thursday for a total of 5,766.The South Korean government declared a “special care zone” around Gyeongsan, a city of about 275,000 people 250 kms (150 miles) southeast of Seoul, promising extra resources such as face masks and warning people from travelling there.last_img read more

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Nuclear pension plan hones in on £40m bulk annuity

first_imgThe UK’s multi-employer pension plan for the nuclear decommissioning sector is looking to secure a bulk annuity for its GPS EnergySolutions section.The defined benefit section is one of the smallest in the Combined Nuclear Pension Plan (CMPP), with no active members. As at the end of March 2018 there were three deferred members, and nine pensioners. Liabilities were valued at £40.3m (€45.9m), and the scheme had a deficit of £8.9m.In an EU procurement notice, CMPP, which has £2.5bn of assets across all its sections, said the bulk annuity contract “should be capable of being quickly converted to a ‘buyout’ without seeking residual data risk cover or a need for further data cleanse work”.In an August newsletter, the pension fund indicated that it expected the GPS Energy Solutions section to be wound up “within the year”. In the tender notice it said it might seek further insurance deals for other sections in future. In the trustee’s report for the year ended 31 March 2018 it had said that – with the exception of the GPS EnergySolutions section – there were no current plans to discontinue CMPP and strike a buyout deal, but it had considered the level of funding relative to the estimated costs of such a transaction.In April 2016 ATK Energy EU, the GPS EnergySolutions section’s employer, was sold to WS Atkins. EnergySolutions, the former parent company of the employer, agreed to an insurance buyout for the section’s liabilities so WS Atkins would not have any related pension costs.EnergySolutions placed $7.7m (€6.2m) into an escrow account to facilitate the buyout. Another $16m was placed into a separate escrow account “to cover the obligations of the seller”, including any amount in excess of the original $7.7m.CMPP’s bulk annuity tender closes on 17 April.Separately, the pension fund also announced it had selected Aegon as a “bundled” provider for its defined contribution sections, covering administration and investment.Last year was a record-breaking year for the pension transfer market. According to Aon, more than £35bn of business was written, with pension schemes entering into more than £24bn of deals, double 2017 volumes. British Airways, Nortel, Rentokil and Siemens all completed annuity deals of more than £1bn during the year.Advisers largely expect 2019 to be another strong year for the de-risking market.last_img read more

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Maine: Notaries must perform same-sex ‘marriages’

first_imgLifesite News 14 Dec 2012In the state of Maine, any notary public who performs marriages may not refuse to perform a same-sex “marriage” for any reason, upon pain of being charged with a human rights violation, according to Maine’s secretary of state. After legalizing same-sex “marriage” in November, Maine in now notifying notaries public who wed heterosexual couples they must provide the same services to homosexuals as of December 29. Secretary of State Charles Summers Jr. made the comment in response to an e-mail query. There are approximately 25,000 notaries public in the state, licensed by the bureau of corporations, elections , and commissions. They may choose not to perform weddings, but they may not wed only heterosexuals, regardless of their religious objections. Under Maine’s human rights ordinance, refusal is considered a human rights violation. This does not violate their religious liberty, according to David Farmer, the spokesman for Mainers United for Marriage, the organization that led efforts to pass the referendum. “They are required to perform their duties as actors of the state,” Farmer told the Bangor Daily News.  “They can decide to not do weddings for any reason.”http://www.lifesitenews.com/news/maine-notaries-must-perform-same-sex-marriages-or-violate-human-rights-lawlast_img read more

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Monthly clinics expand to include blood work

first_imgLAWRENCEBURG, Ind. — Dearborn County Hospital Home Health & Hospice is expanding its monthly community blood pressure and glucose program.Home Health & Hospice has been providing blood pressure and blood sugar clinics once a month at nine Southeastern Indiana locations for years.Beginning in December, DCH Laboratory Services will join with Home Health & Hospice to offer collection of physician ordered blood tests onsite at seven of these locations.Outpatient blood work will be available for individuals 18 years of age and over.  A person requesting a blood draw must provide an identification card with photo, insurance card and doctor’s order.  Medicare, Medicaid and private insurance plans will be accepted.“This new service is just another way that Dearborn County Hospital is working to make healthcare more accessible and convenient for the public,” stated Ricardo Horn, RN, BSN, Home Health & Hospice Director.Blood pressure/blood sugar clinic sites, days and times are listed below.  Starred locations will also offer blood draws.  These sites will have both a phlebotomist available for blood work as well as a nurse to provide blood pressure and blood glucose checks:**DillsboroFirst Tuesday, 10:00 to 11:00 a.m., Dillsboro Village Apartments, 10145 Alpha Drive**GreendaleFourth Tuesday, 10:00 to 11:00 a.m., Greendale Village Apartments, 489 Ludlow Street**LawrenceburgSecond Tuesday, 10:00 to 11:00 a.m., Lutheran Manor, 15 Village DriveSecond Wednesday, 10:00 to 11:00 a.m., Lawrenceburg Village Apartments, 410 Valley Drive**Moores HillSecond Tuesday, 10:45 to 11:45 a.m., Moores Hill Senior Center, 16610 North Broadway Street**Rising SunFirst Tuesday, 10:00 to 11:00 a.m., Rising Sun Senior Center, 510 South Mulberry StreetVersaillesThird Tuesday, 10:00 to 11:00 a.m., Tyson School Apartments, 100 South High StreetVevayFourth Tuesday, 10:45 to 11:45 a.m., Switzerland County Senior Center, 305 Walnut Street**West HarrisonThird Tuesday, 10:15 to 11:15 a.m., North Dearborn Village Apartments, 25795 Unity Streetlast_img read more

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Lady Eagles And Lady Bulldogs Win RC Tourney 1st Round Games-Area Girls Basketball Scores (1-3)

first_imgArea Girls Basketball Scores.   Tuesday (1-3)Ripley County Tourney @ Milan.Opening Round Games.Jac-Cen-Del  49     South Ripley  39Batesville  66     Milan  40Rushville  58     Franklin County  48Shawe Memorial  51     South Decatur  41last_img

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Ripley County Democrats to meet in Batesville

first_imgBatesville, In. — Ripley County Democrats will meet Tuesday, June 11 at Snikkers & Peanuts in Batesville. Dinner at 6 and the meeting will begin at 7 p.m.last_img

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Florida woman arrested after attempting to kill her children and herself

first_imgPolice in Gainesville have arrested a 48-year-old woman who they believe attempted to kill her children and herself by ramming a tanker truck that was carrying 330 gallons of gasoline.The incident occurred Friday around 5:00 pm at 5400 NW 13th St.According to the incident report, Melissa Gail Mack attempted to drive her van into the truck, however, the driver of the truck swerved to miss Mack and her two children. Mack then made a U-turn and rammed the back of the tank causing her vehicle to catch fire.She and her two children ages 4-year-old and 6-year-old, were then rescued from the vehicle.The children were taken to UF Health Shands Children’s Hospital for examination before they were released into the custody of the Florida Department of Children and Families.Mack was taken to Shands before being turned over to police.A friend of Mack also told authorities that when she spoke to Mack earlier in the day, Mack told her that she planned to kill herself and the children saying it was “Gods will.”Mack told authorities that she only remembers bits and pieces of the incident and acknowledged having a conversation with her friend. She, however, would not go into detail about the conversation.Mack has since been arrested and is facing three counts of attempted murder.last_img read more

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Central FC open Club Championships finals with emphatic win

first_imgDEFENDING champions Central FC opened their campaign in the finals of the Caribbean Football Union Club Championships with an emphatic win on Sunday, drubbing Antigua and Barbuda’s Grenades FC 3-1 in the second match of a double-header played at the Hasely Crawford Stadium in Trinidad and Tobago.Central FC, who are going for a third straight title, trailed early when Trevaughn Harriett scored in the sixth minute to put the Grenades up 1-0.Falling behind seemed to wake Central FC, who responded by scoring three unanswered goals. Jason Marcano levelled the scores in the 37th minute. Akenaton Edwards then scored in the 45th minute to put Central FC 2-1 up at the interval.The scoreline held until the 85th minute when Nathaniel Garcia scored the game winner to see Central walk away with all three points and the early Group A lead.Grenades, who are hoping to become the first team from their country to win the title, will be hoping to rebound when they play Haiti’s Cibao FC today, May 16.Central FC will be going for their second win when they play the Haitian unit on Thursday, May 18.last_img read more

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