OCC Says Banking System is in a Position of Strength

first_img About Author: Kendall Baer Demand Propels Home Prices Upward 2 days ago Tagged with: OCC Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Related Articles OCC Says Banking System is in a Position of Strength Data Provider Black Knight to Acquire Top of Mind 2 days ago The U.S. banking system in 2016 is as well capitalized as any in the world as key industry participants continue to apply the basis lessons they learned from the financial crisis of 2008, according to Comptroller of the Currency Thomas Curry in a public address this week.In a speech this week at Harvard Kennedy School, Curry said in the eight years since the crisis, the banking system has progressed to the point where it would be a mistake to change course.“The hard work that U.S. regulators and bankers did in response to the crisis now has U.S. banks in a position of strength,” Curry said. “But my job is to ask how well we—regulators and bankers—are preparing for the next stress event or downturn. And, now is not the time to change course. We must remain vigilant about the levels of capital in good times so it will be there to serve as a bulwark during the next recession. We need to manage the risks of eventually increasing interest rates after this extended period of historic lows.”Curry noted that the banks are stronger today, but that those who have been in the business for more than one cycle know that a downturn is inevitable.“Effective regulation and supervision will help ensure that the trough will not be so deep or so wide,” Curry said.Comptroller of the Currency Thomas CurryThe three basic lessons that the crisis taught financial regulators are the value of strong capital and its corollary the danger of excessive leverage, the need for ample liquidity, and the importance of effective supervision, Curry said.“With regard to capital, our banking system is now as well capitalized as any in the world,” Curry said. “We achieved this level of capital through the concerted effort of regulators and bankers who recognize that stronger capital means stronger banks and that banks should grow their capital during healthier economic periods so that it is available during a downturn.”Curry stated that the danger of excessive leverage is tied to insufficient capital levels, and leverage among financial services firms increased in the period leading up to the crisis—particularly at the “investment banking” firms such as Lehman Brothers.“While it makes perfect sense for banks to hold capital levels commensurate with their risks through the application of aptly named risk-based capital standards, we also have long recognized that such measures are not perfect,” Curry said. “For this reason, we have employed leverage ratios to serve as an additional line of defense, or backstop, to the risk-based capital measures. As noted previously, we have taken a proportionate approach to constraining bank leverage by employing a slightly more sophisticated leverage ratio measure for the largest banks.”A lack of liquidity was a key issue in the solvency issues that banking and finance companies faced in 2008, Curry said, but that problem has been sufficiently addressed by regulators.“Since then we have taken steps in the right direction by implementing the Liquidity Coverage Ratio and proposing the Net Stable Funding Ratio,” Curry said. “These two ratios complement each other and push covered banks to hold sufficient ready resources to meet short-term cash outflows and encourage banks to shift to more stable, longer term funding by relying less on short-term wholesale funding.”Click here to read Curry’s complete speech. The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / OCC Says Banking System is in a Position of Strength Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Kendall Baer is a Baylor University graduate with a degree in news editorial journalism and a minor in marketing. She is fluent in both English and Italian, and studied abroad in Florence, Italy. Apart from her work as a journalist, she has also managed professional associations such as Association of Corporate Counsel, Commercial Real Estate Women, American Immigration Lawyers Association, and Project Management Institute for Association Management Consultants in Houston, Texas. Born and raised in Texas, Baer now works as the online editor for DS News. center_img Share Save OCC 2016-09-18 Kendall Baer Previous: Summer Brings Best Housing Market In Decade Next: Auction.com Welcomes New SVP of Auction Portfolio Operations in Daily Dose, Featured, News Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago September 18, 2016 1,125 Views Subscribelast_img read more

Gabbard Finally Pulls Plug on Longshot Presidential Campaign

first_img(Ohahu, HI) — In case you didn’t know she was runninig, Democrat Tulsi Gabbard is ending her almost imaginary presidential campaign.In a video message, the Hawaii Congresswoman offered her full support to Democratic frontrunner and former Vice President Joe Biden.She said it’s clear that Biden will win the nomination. Vermont Senator Bernie Sanders remains in the race, but is currently reassessing his campaign.Gabbard said she can best serve the nation right now as a member of Congress.last_img read more

Brussels Brings the Curtain down on Memorable Season

first_imgSlightly surprisingly, though, the 21-year-old Kenyan has yet to run under eight minutes in his career but he is still going for a full-blown world record attempt in Brussels, taking aim at the mark of 7:53.63 set by Saif Saaeed Shaheen at the same meeting in 2004.USA’s Olympic silver medallist Evan Jager will also be in the race and is aiming to break his own North American record of 8:00.45.Another terrific duel should ensue in the women’s 100m, which features Jamaica’s Olympic champion Elaine Thompson, who has an eight-point lead in the Diamond Race, and the Netherlands’ European champion Dafne Schippers, who will be looking for revenge after finishing out of the medals in this event in Rio.Speculation is mounting that, with a warm night in prospect, Shelly-Ann Fraser-Pryce’s meeting record of 10.72 from three years ago could be in jeopardy.There will also be a constant theme of athletes wanting to do well in Brussels to make up for Rio disappointments and get some redemption for having come up short at the Olympics.Almaz Ayana is not quite as certain as Kipruto of taking the Diamond Race but she still has a big advantage of 14 points in the 5000m standings.She has decided that, having acquired the 10,000m world record, she wants to try to add to her list of accolades with an attempt on the 5000m record of 14:11.15, which has been held by her Ethiopian compatriot Tirunesh Dibaba since 2008.Ayana has already come close to that mark at three IAAF Diamond League outings this year, clocking 14:12.59 in Rome, 14:14.32 in Shangai and 14:16.63 in Rabat, and she now owns three of the six fastest times in history.A world record will, somewhat, also make up for the visible disappointment of not getting the gold in this event in Rio, when stomach problems restricted her to third behind Kenya’s Vivian Cheruiyot.Kipruto and Ayana have the luxury of being able to chase times but many of the Diamond Race disciplines will go down to the wire.One of the highlights of the night should be the men’s high jump in which only six points separates the top four in the Diamond Race: Mutaz Essa Barshim, Bogdan Bondarenko, Robbie Grabarz, and Erik Kynard. The quartet, with Barshim leading the way with the silver medal, were also all in the top six in Rio.In the men’s 800m, both Pierre-Ambroise Bosse and Ferguson Cheruiyot Rotich went to the start line in Rio with medal ambitions but left empty handed after finishing fourth and fifth respectively.With only a six-point lead, Rotich will need to finish ahead of his French rival to stay top of the standings and claim the Diamond Trophy.However, the loaded field also has US rising star Clayton Murphy, the Olympic bronze medallist, and European champion Adam Kszczot, so the race itself could be unpredictable.Asbel Kiprop seemed to be the star of the 1500m prior to Rio but the three-time world champion drifted back to sixth down the home straight in the final so he will be also hoping to redeem himself with a good win in Brussels, which will ensure he lifts the Diamond Trophy.A fast race, which might challenge his world-leading time of 3:29.33, might be in store but he will face the quick-finishing Olympic silver medallist Taoufik Makhloufi, who has opted for this event over the 800m.Great Britain’s Eilidh Doyle went to Rio with 400m hurdles medal aspirations but she had a mediocre race in the final and wound up eighth. By contrast, Denmark’s Sara Slott Petersen had the race of her life and got the silver medal.Doyle will obviously want to beat Petersen but also needs to make sure she finishes in front of USA’s Cassandra Tate to take the Diamond Race, with world champion Zuzana Hejnova also in the field.In the men’s long jump, South Africa’s Luvo Manyonga will be having his first competition since he took the silver medal in Rio, where he set a personal best of 8.37m but the Diamond Race essentially comes down to a head-to-head between Gao Xinglong and Fabrice Lapierre, who are level on points.In the women’s 400m, there are four women who made the Olympic final but the Diamond Race is a duel between Jamaica’s Stephenie-Ann McPherson and Natasha Hastings, with three points separating the pair who finished sixth and fourth respectively in Rio.By contrast, some Diamond Race contests have been as good as decided with the main protagonists only having to start to make sure they take home the Diamond Trophy.Caterine Ibarguen is on course to pick up a fourth Diamond Race title and the big question is whether the Colombian triple jumper can go beyond 15 metres again after her world-leading 15.17m to win the gold in Rio.Greece’s Ekaterini Stefanidi has already as good as secured the women’s pole vault Diamond Race but she will once again face a challenge from USA’s outdoor world leader Sandi Morris, who took the silver medal at both the IAAF World Indoor Championships Portland 2016 and Rio 2016 Olympic Games.Like Ibarguen and Stefanidi, Spain’s Orlando Ortega has the 110m hurdles Diamond Trophy in the bag but the Olympic silver medallist should be pressed on the night by the French pair of Dimitri Bascou and Pascal Martinot-Lagarde who finished in the next two places behind him at the Olympics.Panama’s Alonso Edward, who finished seventh in Rio, has enough points to win his third consecutive Diamond Race in the 200m but will face three men who finished in front of him at the Olympics: Christophe Lemaitre, Adam Gemili and Churandy Martina, who were third, fourth and fifth respectively.Latvia’s Madara Palameika has a 14-point lead over Australia’s Kathryn Mitchell in the women’s javelin Diamond Race but Czech Republic’s world record-holder Barbora Spotakova and European champion Tatsiana Khaladovich from Belarus both finished in front of them in Rio and are the favourites to win on the night.In the other long throw of the night, the men’s discus, world champion Piotr Malachowski won many friends for putting his Rio silver medal up for sale to provide funds for the treatment of an ill child in his native Poland and a 17-point lead in the Diamond Race gives him a huge advantage in this contest.Nevertheless, a deep field sees Malachowski up against Sweden’s world leader Daniel Stahl and Austria’s Lukas Weisshaidinger, who have both been throwing well since their return from the Olympics.The first Diamond Race decided actually was yesterday evening when the women’s shot putters took to the ring in the famous Grand Place in the centre of Brussels.All three medallists from Rio were in action as at press time although USA’s gold medallist Michelle Carter has had the upper hand in the past couple of competitions, Valerie Adams has an unassailable lead in the Diamond Race and will pick her fifth Diamond Trophy.She will also want to gain revenge for the US putter snatching the gold medal from her in the last round in Rio.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram IAAF DIAMOND LEAGUEThe second of the two IAAF Diamond League finals for this season brings the curtain down on the IAAF one-day meetings for 2016, and should do so in spectacular fashion with the 16 remaining Diamond Race contests being decided at the AG Insurance Memorial Van Damme in Brussels today.Conseslus Kipruto has already clinched the 3000m steeplechase Diamond Race so he only has to start in the Belgian capital, but the question is how will the Olympic champion finish?He has been winning his races with apparent ease this year and leads the world with his 8:00.12 personal best that he ran at the IAAF Diamond League meeting in Birmingham.last_img read more

Annual Thurston County Homeless Census January 25

first_imgFacebook30Tweet0Pin0Submitted by City of OlympiaThe Annual Thurston County Homeless Census will be conducted on Thursday, January 25, 2018. This effort is part of a nationwide “Point in Time” (PIT) Count of Homeless People” that determines who is homeless and why. Census workers will fan out across the County to conduct a street census, survey people at food banks, community meals, and other places that offer survival commodities and operate four Homeless Connect Events. All shelter and transitional housing providers will count the people staying with them on the night of the Count.If you can help, please contact Faith Addicott, Homeless Event Manager at 360-709-2679 or [email protected] Connect Event LocationsSingle adults: Providence Community Care Center, OlympiaYouth: Rosie’s Place – Community Youth Services, OlympiaFamilies: Family Support Center, OlympiaRural: ROOF Community Services, RochesterFor more information, please visit olympiawa.gov/housingAbout the Thurston County Homeless CensusThe Annual Homeless Census is managed by Thurston County, with the City of Olympia coordinating all Census activity.Census results are compiled into the County’s annual “Point in Time Count of Homeless Persons Report” and reported to the state and federal governments to ensure a proportionate level of public funding for local shelters, transitional housing, and related supportive services. According to Thurston County Commissioner Bud Blake,“Over the past decade, we have invested millions of dollars in community-based programs and projects that have helped hundreds of homeless families and individuals get back into housing and resume their lives,” said Commissioner Bud Blake.“Unfortunately, the results of our annual Homeless Census reveal that each year new people fall into homelessness due to job loss, rent increases, unmet health needs and other challenges. We need the best possible data to ensure that our limited funding goes to resources, proven programs and best practices.”Commissioner Blake notes that the results of the 2018 Census will be used to chart the County’s progress in its soon to be released five-year plan to reduce homelessness by half.Locally, census results are shared with all community stakeholders – policy makers, funders, service providers, concerned citizens and the homeless themselves. The final report will also include an assessment of available resources to help people get back to independence.New for 2018This year, the City will go beyond the state-mandated Count of Homeless People to include a pre-dawn door way count and a camp census. These efforts, funded directly by the City of Olympia will focus on getting a more accurate head count in addition to collecting the more detailed personal information called for in the PIT Census. While the full census will still be conducted, the City’s count is intended to reveal the true number of unsheltered people and to release the results as soon as possible.“It’s critical for our County to know who the homeless are before we can address ways to help them get back on their feet and invest our resources wisely,” said Olympia Council Member Jessica Bateman, who noted that most of the existing resources are located in Olympia. “When our homeless safety net fails, it hurts our homeless neighbors, and it also impacts our downtown and neighborhoods.”Previous Year’s DataThe original goal of the Homeless Census was to use the data to guide efforts to reduce homelessness by half. Started in 2006, the first census found 441 homeless people, which defined the goal to reduce homelessness by half to a total of 221 homeless people. In January of 2017, the Homeless Census found a total of 534 homeless people, representing a 21% increase, or 93 more people than identified in the 2006 census of 441 people. However, the 2017 Homeless Census results did indicate a significant 45% drop in homelessness from the 2010 all-time high of 976.last_img read more