BoE boss warns of EU move to take derivatives clearing away from City

first_img whatsapp The UK’s derivative clearing houses, such as the powerhouse London Clearing House, were given permission to continue to operate in the EU on a temporary basis until June 2022 in order to secure financial stability post-Brexit. (Getty Images) Also Read: BoE boss warns of EU move to take trillions of pounds of derivatives clearing away from the City Share London Clearing House has more than £80 trillion of outstanding Euro clearing and that is just a quarter of total activity at the clearing house The UK’s derivative clearing houses, such as the powerhouse London Clearing House, were given permission to continue to operate in the EU on a temporary basis until June 2022 in order to secure financial stability post-Brexit. (Getty Images) Also Read: BoE boss warns of EU move to take trillions of pounds of derivatives clearing away from the City The UK’s derivative clearing houses, such as the powerhouse London Clearing House, were given permission to continue to operate in the EU on a temporary basis until June 2022 in order to secure financial stability post-Brexit. (Getty Images) When asked by Treasury Select Committee chair Mel Stride if these moves would affect financial stability, Bailey said: “It’s certainly something we would be concerned about as the financial stability authority. The UK’s derivative clearing houses, such as the powerhouse London Clearing House, were given permission to continue to operate in the EU on a temporary basis until June 2022 in order to secure financial stability post-Brexit. Bank of England governor Andrew Bailey has warned that the EU will likely try to snatch away trillions of pounds of derivatives clearing from London’s major clearing houses in a series of moves that could threaten financial stability. Bailey told MPs today that Brussels was looking to implement “location policy” and could force banks to move clearing activity to Europe through legislation that would be a “serious escalation” of UK -EU tensions. Bailey said that if the EU does not extend clearing house equivalence beyond June 2022 then about 25 per cent of Euro derivative clearing to the EU would be forced to move. Stefan Boscia Show Comments ▼ “That seems to be where the debate is heading – I’m not surprised by this.center_img Their presence is supposed to ensure that buyers and sellers honour their contracts, while also ensuring financial stability. Wednesday 24 February 2021 3:31 pm “I have to say to you that it would be highly controversial and something we would have to, and want to, resist very firmly.” However, the Bank of England governor warned that Brussels would likely seek legislative routes to force financial institutions to use EU-based clearing houses instead in a move that would have “dubious legality”. “Any erosion of the stability of the clearing system, and it is a global system, really would be a concern.”  “To get the other 75 percent would require something controversial, such as an attempt of territorial legislation or an attempt to cajole dealers and banks to say there will be a penalty unless you move this activity into the Euro area,” he said. The European Commission declined to comment. whatsapp Clearing houses act as an official go-between for buyers and sellers of derivatives contracts. This was one of just two areas, out of of 40, that the EU granted the UK equivalence for post-Brexit. BoE boss warns of EU move to take trillions of pounds of derivatives clearing away from the City “Clearing has come far more into the foreground as a financial stability tool since the financial crisis – a lot more instruments, particularly derivative instruments, are cleared now than before the crisis. He said the other 75 per cent would likely stay in London as it is being done by non-EU institutions.last_img read more

Federal bill introduced to fund Erin’s Law

first_imgCrime & Courts | Education | Government | Health | Sexual Abuse & Domestic Violence | State GovernmentFederal bill introduced to fund Erin’s LawJuly 3, 2015 by Jennifer Canfield, KTOO Share:Erin Merryn, a victim of sexual abuse as a child, campaigns across the country advocating for a law that would require schools to implement sexual abuse prevention education. (Photo by Skip Gray/KTOO)Three U.S. senators have introduced a bill that would fund the implementation of Erin’s Law in states where it’s been adopted.The bill would amend the Child Sexual Abuse Awareness and Prevention Act of 1965 and define standards sexual abuse awareness and prevention programs must meet to qualify for funding.The bill requires the program’s curriculum “be based upon an assessment of objective data” in order to improve student safety and health, and to strengthen parent and community engagement. The program must also consider input from teachers, principals, school leaders and parents.Programs funded by the grant would be required to undergo a periodic third-party evaluation to assess the effectiveness of the program. Schools would be required to use the results of the evaluation to improve their program.The final clause in the bill prohibits the federal government from mandating, directing or controlling the programs developed by local schools.The Alaska Legislature passed a version of Erin’s Law — the Alaska Safe Children’s Act — last month during a special session. The bill was first introduced during the 2014 session by Rep. Geran Tarr of Anchorage. The bill died in committee, but was reintroduced in 2015 by Republicans and Democrats from the House and Senate.After a thorough reworking and much controversy, the legislature passed the bill introduced by Rep. Charisse Millett, a Republican from Anchorage, during a special session in June.U.S. Senate Bill 1665 was released just as Congress was breaking for the Fourth of July. Spokespersons for Alaska Sen. Lisa Murkowski, Sen. Dan Sullivan and Rep. Don Young all said the lawmakers were looking forward to reviewing the bill.Sens. Kirsten Gillibrand, D-N.Y., Dean Heller, R-Nev., and Dianne Feinstein, D-Calif, are sponsoring the bill.Share this story:last_img read more

Ex-Alaskan charged with nearly 150 felonies in PFD fraud case

first_imgCrime & Courts | Southcentral | State GovernmentEx-Alaskan charged with nearly 150 felonies in PFD fraud caseJune 27, 2018 by Casey Grove, Alaska Public Media Share:Alaskans file their Permanent Fund dividend applications in downtown Anchorage in March 2016. (Photo by Rachel Waldholz/Alaska Public Media)State prosecutors are charging a former Alaska resident with nearly 150 felony counts for an alleged Permanent Fund Dividend fraud scheme.Audio Playerhttp://media.aprn.org/2018/ann-20180626-02.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume.An arrest warrant for Sheila Mary Rose McMahon, 44, was issued last week after a grand jury indictment, which includes 15 pages just listing the charges against her.It’s unclear where McMahon actually lives now.McMahon is accused of making false statements on multiple PFD applications for three years’ worth of dividends and theft of the money she allegedly received.According to the indictment, McMahon provided fake documents, including employment information from abitoblarney.com, which appears to be an online Irish gift shop.State records show McMahon registered it as a business with an address at a Midtown Anchorage apartment building.The website itself only lists locations in Atlanta, Georgia and Dublin, Ireland.In a written statement, state prosecutors said fewer than 15 of the 71 applications McMahon filed were for real people, and the rest of the identities were either partially or wholly fabricated.She allegedly received more than $17,000 of the nearly $80,000 she tried to get from the permanent fund.Share this story:last_img read more

Bill would rename, add voices to state Alaska Native language council

first_imgAlaska Native Arts & Culture | State GovernmentBill would rename, add voices to state Alaska Native language councilApril 9, 2021 by Andrew Kitchenman, KTOO and Alaska Public Media Share:Ernestine Hayes and Lance Twitchell pose for a photograph in 2016, when they participated in an oral history project. On Tuesday, Twitchell testified in support of a bill making changes to a state council on Alaska Native languages. (Photo courtesy Juneau Public Library)A bill advancing in the Legislature would rename a state council on Alaska Native languages and expand its membership. House Bill 47 would rename the Alaska Native Language Preservation and Advisory Council as the Council for Alaska Native Languages. Members of the House Special Committee on Tribal Affairs heard from bill supporters on Tuesday. X̱’unei Lance Twitchell, a council member and Tlingit language scholar, said the Legislature should do all that it can to support the 21 Alaska Native languages that are spoken today. “But by my estimations, and the estimations of language experts across the state, over half of them may have fewer than 10 speakers remaining, and we’re only talking about incremental change or only toeing a line that does keep us in a death spiral,” Twitchell said.Twitchell said the word “preservation” should be taken out of the council’s name because it is trying to revitalize languages, not just preserve them. The bill would also add two members to the council, expanding it from five to seven members. Supporters say this would help the council represent more of the diversity of Alaska Native languages. Twitchell said cultural genocide led to the languages’ decline. “What kind of humans are we if we stand upon a foundation of racism and allow systems of communication that are tens of thousands of years old to be lost?” Twitchell asked the committee.The council produces a report every other year. The report published last year encourages programs to immerse students in Alaska Native languages, among other steps. The committee voted to advance the bill to the House Finance Committee.Share this story:last_img read more

Q&A: Cutting basic research sets off a ‘slow-motion disaster’

first_img What’s included? Q&A: Cutting basic research sets off a ‘slow-motion disaster’ GET STARTED By Meghana Keshavan March 16, 2017 Reprints Meghana Keshavan @megkesh Politics Dr. Barrett Rollins, chief scientific officer at Dana-Farber Cancer Institute Dana-Farber Cancer Institute What is it? STAT+ is STAT’s premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond.center_img [email protected] Daily reporting and analysis The most comprehensive industry coverage from a powerhouse team of reporters Subscriber-only newsletters Daily newsletters to brief you on the most important industry news of the day STAT+ Conversations Weekly opportunities to engage with our reporters and leading industry experts in live video conversations Exclusive industry events Premium access to subscriber-only networking events around the country The best reporters in the industry The most trusted and well-connected newsroom in the health care industry And much more Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr. Log In | Learn More About the Author Reprints Biotech Correspondent Meghana covers biotech and contributes to The Readout newsletter. If the Trump administration’s new budget proposal passes as-is, billions of dollars in biomedical research funding are under threat — with basic science likely to be first on the chopping block.The budget proposal is suggesting a $6 billion cut to the National Institutes of Health, which is about 20 percent of its total budget. Unlock this article — plus daily intelligence on Capitol Hill and the life sciences industry — by subscribing to STAT+. First 30 days free. GET STARTED Tags cancerpolicyresearchSTAT+last_img read more

Will Spring Breakers be allowed on Fort Myers Beach?

first_imgFORT MYERS BEACH, Fla. — Whether it’s escaping the cold or getting away for Spring Break, more and more people are flocking to Southwest Florida to take in the sunshine and the sand.In anticipation of Spring Break traffic, many beaches on the east coast of Florida are imposing restrictions such as no alcohol, lower amplified music, and banning tents and tables. With the restrictions on the east coast and even tighter COVID-19 restrictions throughout the country, is Fort Myers Beach expecting a bustling Spring Break?As of Wednesday, another seven thousand Floridians have been infected with COVID-19 and another 129 have died. But in recent weeks the number of daily reported cases has trended downward. COVID-19 restrictions likely kept kids out of swim class, putting them at risk June 9, 2021 He said that last year’s COVID-19 lockdowns occurred in the thick of Spring Break season. This year visitors are welcome but he’s urging everyone to stay vigilant. “If everybody just cooperates and plays by the rules- Hopefully we can get through this and put it behind us and get back to normal life,” Murphy said.Many we spoke to on the beach are already noticing big turnouts. FGCU student Aaron Thornley says he and his friends will be partaking in the beach festivities.“Just because corona is going on doesn’t mean anybody wants to change how they do their spring break,” Thornley said. The Lani Kai, a hotspot for spring breakers, said most of their rooms for March are booked and have been for weeks.Mayor Ray Murphy said that while the spring breakers will be good for businesses, everyone should take proper precautions by masking up and spacing out.“They just have to remember to play by the rules like we all do,” said Murphy. “What we don’t want to do is blow it here in the fourth quarter.”  What led up to the Memorial Day shooting on Fort Myers Beach June 9, 2021 AdvertisementRecommended ArticlesBrie Larson Reportedly Replacing Robert Downey Jr. As The Face Of The MCURead more81 commentsGal Gadot Reportedly Being Recast As Wonder Woman For The FlashRead more29 comments AdvertisementTags: Covid-19Fort Myers BeachSpring Break AdvertisementMajor events like the Super Bowl and it’s viral celebrations were feared as “super spreader” events. Despite parades on boats and parties in the streets, cases near Tampa have been on a gradual decline in the last two weeks.Ray Murphy is the Mayor of Fort Myers Beach. He said that town leaders aren’t sure what to expect this year for Spring Break, but they have been seeing a large number of people hitting the beach already in the past few weeks.“For the most part we haven’t had too much of a problem down here,” Murphy said.  AdvertisementDC Young Fly knocks out heckler (video) – Rolling OutRead more6 comments’Mortal Kombat’ Exceeded Expectations Says WarnerMedia ExecutiveRead more2 commentsDo You Remember Bob’s Big Boy?Read more1 commentsKISS Front Man Paul Stanley Reveals This Is The End Of KISS As A Touring Band, For RealRead more1 comments Advertisement Mobile pediatric clinic provides COVID vaccines for children 12+ June 15, 2021 RELATEDTOPICS Advertisement Beach front businesses deal with impacts of Fort Myers Beach ‘street preachers’ June 16, 2021last_img read more

North Korean national athlete’s message of hope to former teammates at…

first_imgAnalysis & Opinion Pence Cartoon: “KOR-US Karaoke” By Daily NK – 2018.02.09 4:18pm Tracking the “unidentified yellow substance” being dried out near the Yongbyon Nuclear Center I watched the North Korean athletes on the news coming through the airport in South Korea, and became teary-eyed at the sight of the girls putting on their smiles. As a former national athlete for North Korea myself, I can understand exactly what they are going through.As the confirmation of the North’s participation in the Games was quite sudden, instead of feeling excited about their arrival, the athletes are likely under a great deal of pressure and stress due to intense training for the ‘ideological and spiritual battle’ undertaken in the weeks prior to departure. I felt an urge to reach out and grab their hands and tell them, “I missed you.” But all of them know that if they were to respond to me, the ever-present minders would see it, and they would be punished for political crimes. When I was still a national athlete in North Korea, we received extensive ideological education and training. We were expected to be perfect models of the nation’s ‘sports culture,’ and every detail of our training process was strictly controlled. National athletes for North Korea are not allowed to venture out while they are in training or competition. During competitions abroad, especially during the Olympics in South Korea, they will be watched at every moment, and they will not be allowed to express a single word of their own.But they also know that winning a gold medal at the Olympics will earn them a home in Pyongyang. Seeing this coverage has brought back memories of my time as an athlete, and that more than Europe, Southeast Asia, and everywhere else, these athletes compete fiercely for the chance to come to South Korea.The athletes themselves endure their training and cherish each other. I remember celebrating our birthdays, and how our coach would treat us on our birthdays, even inviting the other lower-level athletes to the national athletes cafeteria for special meals on these occasions.The bond between North Korean athletes is strong. I remember running a great distance one time for a chance to attend the birthday party of one of the other athletes. Our coach challenged us to run all the way to Taesong Mountain from the Taedong River in Pyongyang within two hours, so I woke up at 5 a.m. to run the journey and received a slip of paper from the coach at the end. That meant we were allowed to go out and celebrate the birthday of our teammate. We put our money together and went to Okryugwan (a famous restaurant in Pyongyang), where I scarfed down two bowls of naengmyeon (cold noodle dish). Then, for dinner, we were invited by one of our seniors who had retired and was running a restaurant to earn foreign-currency (for the government). Like family, we were treated to beer and delicious food. I wish I could do the same for my juniors who are coming to the Pyeongchang Olympics.I want to talk to the athletes coming this week to South Korea, to tell them that they worked hard, to cry together, and to ask about my family and friends still in Pyongyang. But alas, this is impossible, and it’s such a shame.I will nevertheless cherish our bond and cheer for the North Korean athletes during this year’s Winter Olympics. I hope they can form great memories of their experiences during the games and achieve victory atop the snow and ice. AvatarDaily NKQuestions or comments about this article? Contact us at [email protected] Is Nuclear Peace with North Korea Possible? RELATED ARTICLESMORE FROM AUTHOR Analysis & Opinion Analysis & Opinion Members of the North Korean women’s ice hockey team arrive in South Korea on January 25. Image: Unification Ministry Facebook Twitter North Korean national athlete’s message of hope to former teammates at the Pyeongchang Olympics Analysis & Opinion SHARElast_img read more

More Board Appointments Announced

Still A Star gets opportunity to shine

first_imgStill A Star gets opportunity to shine Jane Howlett,Minister for RacingI congratulate the connections of Still A Star after the Longford trained thoroughbred gained selection in the 2021 All Star Mile.The list of the top 10 horses was released this morning by Racing Victoria following an extensive campaign by the mare’s connections to gain a start in the illustrious race with the Bill Ryan trained horse finishing fourth in the voting.Congratulations to Bill Ryan, his daughter Monica and Still A Star’s part-owner Ron Riley for running an extensive social media campaign and gathering the support of the Longford community to generate enough votes to make the Top 10.The All-Star Mile in unique to the Australian racing calendar, with the public choosing the top ten horses to line up in the richest mile race in the world worth $5 million.Bred in Tasmania by Alva Stud, Still A Star has won seven races and placed second on five occasions from 12 starts. The mare will also race on Launceston Cup day in the Armidale Stud ‘Vamos Stakes’.The Adam Trinder trained mare Mystic Journey, the inaurgural winner of the All Star Mile, missed out on the top 10, but I am hopeful the mare can gain one of the five wildcard slots to be announced by Racing Victoria on 1 March 2021 to give Tasmania two starters in the race.I wish connections of Still A Star all the best for race which will be run at Moonee Valley racecourse on 13 March 2021. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Armidale, AusPol, Australia, Australian, campaign, community, Government, Launceston, Longford, Minister, Racing, running, Ryan, social media, TAS, Tasmania, Tassie, Victoria, winner, worldlast_img read more

Digital annual passes for Kosciuszko National Park make snow season easier

first_imgDigital annual passes for Kosciuszko National Park make snow season easier The NSW National Parks and Wildlife Service (NPWS) is making the snow season easier for visitors with new digital annual pass entry to Kosciuszko National Park. NPWS Director of Southern Ranges Branch Mick Pettitt said that tor the first time, when visitors buy a new digital annual pass from the NPWS website before leaving home, it will be automatically linked to their vehicle registration and ready for immediate use.“Snow seekers with the digital pass can now bypass the vehicle entry stations without queuing and get up to the mountains quicker,” Mr Pettitt said.“Visitors can no longer buy annual passes from entry stations and will instead need to pre-purchase their new digital annual pass online from nswparkspass.info/buy. For concessions and discounts, apply at least three days before travel to allow for approval and processing, or you can visit a local NPWS visitor centre and remember to bring your supporting documentation,” he said.“Day passes are still available to buy at entry stations and from NPWS visitor centres in Jindabyne, Khancoban and Tumut.”“Additionally, many COVID-related restrictions have eased since last year’s snow season. The only entry requirement for Kosciuszko National Park for the 2021 snow season is a valid NSW Parks Pass.”“Snow play activities such as tobogganing, sledding and snow-tubing are back on and visitors are also welcome for general sightseeing, stays and off-snow activities like hiking.”“A number of campgrounds are open for winter, with all campers required to book before arriving via the NPWS website or by calling 1300 072 757. Backcountry camping is allowed, but campers must fill out an online Trip Intention Form to register with NPWS. Adventurers planning activities such as cross-country skiing, snow shoeing and backcountry skiing and snowboarding must also complete a Trip Intention Form and ensure they have suitable skills and equipment.”“Travellers to the Snowy Mountains should plan ahead and check with individual ski resorts and other venues about their COVID-19 restrictions, venue capacity and booking requirements.”“To keep everyone safe this snow season, NPWS reminds visitors that they must follow all Public Health orders, including leaving an area if physical distancing is not possible. Some restrictions may remain in place, particularly for indoor venues.”“NPWS may need to make changes or bring in restrictions if the COVID-19 situation or Public Health Orders change in the lead-up to, or during the 2021 snow season. Always check the NPWS website for up-to-date information, alerts and closures.” /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:AusPol, camping, covid-19, digital, director, environment, Government, health, Jindabyne, Khancoban, National Park, New South Wales, NSW, public health, Snowy Mountains, southern, Tumut, vehicle, website, wildlifelast_img read more