======>[THE FOLLOWING POST IS BY:
MCM; President Obama's Nobel Win -
The Norwegian Nobel Committee has sent a message -
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President Obama to donate Nobel Peace Prize money to charity -
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======>[THE FOLLOWING POST IS BY:
FDIC; Banks Tapped to Bolster FDIC Resources -
FDIC Board Approves Proposed Rule to Seek Prepayment of Assessments -
The Board of Directors of the Federal Deposit Insurance Corporation today adopted a Notice of Proposed Rulemaking (NPR) that would require insured institutions to prepay their estimated quarterly risk-based assessments for the fourth quarter of 2009 and for all of 2010, 2011 and 2012. The FDIC estimates that the total prepaid assessments collected would be approximately $45 billion. The FDIC Board also voted to adopt a uniform three-basis point increase in assessment rates effective on January 1, 2011, and extend the restoration period from seven to eight years.
FDIC Chairman Sheila C. Bair said, "First and foremost, bank customers should know that their insured deposits have and always will be 100 percent safe, no matter what. This commitment to depositors is absolute. The decision today is really about how and when the industry fulfills its obligation to the insurance fund. It's clear that the American people would prefer to see an end to policies that look to the federal balance sheet as a remedy for every problem. In choosing this path, it should be clear to the public that the industry will not simply tap the shoulder of the increasingly weary taxpayer. This proposal is a vote of confidence for the banking industry's resilience and will continue to recover its strength as we work through the significant challenges ahead."
Prepayment of assessments will allow the industry to strengthen the cash position of the Deposit Insurance Fund (DIF) immediately, while allowing the capital impact of deposit insurance assessments to be felt gradually over time as the industry improves its own financial position. The banking industry has substantial liquidity to prepay assessments. As of June 30, FDIC-insured institutions held more than $1.3 trillion in liquid balances, or 22 percent more than they did a year ago. Prepaying assessments will put the industry's liquid balances to good use in conserving capital and helping to maintain the capacity of banks to lend while they rebuild the DIF. FDIC analysis indicates that this arrangement is much less likely to impair bank lending than a one-time special assessment.
Public comments are due 30 days after publication in the Federal Register.
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Search Related Articles - Updated: 10:57 Pacific Time Zone, September 29, 2009
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======>[THE FOLLOWING POST IS BY:
FDIC; Joint Release: Credit Quality Declines in Annual Shared National Credits Review -
WASHINGTON — Credit quality declined sharply for loan commitments of $20 million or more held by multiple federally supervised institutions, according to the 32nd annual review of Shared National Credits (SNC).
The credit risk of these large loan commitments was shared among U.S. bank organizations, foreign bank organizations (FBO), and nonbanks such as securitization pools, hedge funds, insurance companies, and pension funds. Credit quality deteriorated across all entities, but nonbanks held 47 percent of classified assets in the SNC portfolio, despite making up only 21.2 percent of the SNC portfolio. U.S. bank organizations held 30.2 percent of the classified assets and made up 40.8 percent of the SNC portfolio.
The 2009 review covered 8,955 credits totaling $2.9 trillion extended to approximately 5,900 borrowers. Loans were reviewed and categorized by the severity of their risk—special mention, substandard, doubtful, or loss—in order of increasing severity. The lowest risk loans, special mention, had potential weaknesses that deserve management attention to prevent further deterioration at the time of review. The most severe category of loans, loss, includes loans that were considered uncollectible.
Key findings were:
- Criticized assets, which included SNCs classified as special mention, substandard, doubtful, or loss, reached $642 billion, up from $373 billion last year, and represented 22.3 percent of the SNC portfolio compared
with 13.4 percent in 2008.
- SNC commitment volume increased $92 billion, or 3.3 percent, while the number of credits remained virtually unchanged.
- Classified assets, which included SNCs classified as substandard, doubtful, or loss, rose to $447 billion from $163 billion and represented 15.5 percent of the SNC portfolio, compared with 5.8 percent in 2008. Classified dollar volume increased 174 percent from a year ago.
- Special mention assets, which exhibited potential weakness and could result in further deterioration if uncorrected, declined to $195 billion from $210 billion and represented 6.8 percent of the SNC portfolio, compared with 7.5 percent in 2008.
- The severity of criticism increased with the volume of SNCs classified as doubtful and loss rising to $110 billion, up from $8 billion in 2008. Loans in nonaccrual status also increased nearly eight times to $172 billion from $22 billion. Nonaccrual loans included $32 billion in credits classified as loss and $56 billion classified doubtful.
- The distribution of credits across U.S. bank organizations, foreign bank organizations, and nonbanks remained relatively unchanged. U.S. bank organizations held 40.8 percent, while FBOs and nonbanks held 38 percent and 21.2 percent, respectively. Nonbanks continued to hold a disproportionate share of classified assets. Nonbanks held 47 percent of classified assets and 52 percent of nonaccrual loans. Federal Deposit Insurance Corporation-insured institutions held 24.2 percent of classified assets and 22.7 perce
nt of nonaccrual loans.
- Criticized volume was led by the Media and Telecom industry group with $112 billion, Finance and Insurance with $76 billion, and Real Estate and Construction with $72 billion. These three groups also represented the highest shares of criticized credits with 17.3 percent, 11.7 percent, and 11.2 percent of criticized credits in the SNC portfolio, respectively.
- The review identified significant deterioration in credit quality of leveraged finance credits, with these loans representing more than 40 percent of the dollar volume of total criticized assets. About 72 percent of the dollar volume of the 50 largest leveraged finance SNCs were criticized, which represents one-third of all criticized assets.
- Underwriting standards in 2008 improved from prior years, with examiners identifying fewer loans with structurally weak underwriting characteristics compared to credits written in 2007 and 2006. However, the SNC portfolio contained loans with structurally weak underwriting characteristics that were committed before mid-2007 that contributed significantly to the increase in criticized assets.
The SNC program was established in 1977 to provide an efficient and consistent review and classification of SNC, which includes any loan and or/formal loan commitment, and any asset such as real estate, stocks, notes, bonds, and debentures taken as debts previously contracted, extended to borrowers by a federally supervised institution, its subsidiaries, and affiliates that aggregates to $20 million or mor
e and is shared by three or more unaffiliated supervised institutions. Many of these large loan commitments are also shared with foreign banking organizations and nonbanks, including securitization pools, hedge funds, insurance companies, and pension funds.
In conducting the 2009 SNC review, agencies reviewed $1.2 trillion of the $2.9 trillion credit commitments in the SNC portfolio, or 41 percent of the credits by dollar volume. The 2009 SNC sample was heavily weighted toward non-investment grade and criticized credits. The results of the review are based on analyses prepared in the second quarter of 2009 using credit-related data provided by federally supervised institutions as of December 31, 2008, and March 31, 2009
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======>[THE FOLLOWING POST IS BY:
MCM; President Clinton leverages his global political capital -
New York – President Clinton announced the 2009 honoree selections for the third annual
Clinton Global Citizen Awards today. The award recognizes remarkable individuals for their leadership in improving
the lives of people around the globe. The awards ceremony will take place on September 24, 2009, during the Fifth
Annual Meeting of the Clinton Global Initiative (CGI). CGI's Annual Meeting convenes leaders from across sectors
of society, giving them a forum to develop and then implement workable solutions to some of the world's most
pressing challenges
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======>[THE FOLLOWING POST IS BY:
MCM; The recent year's global financial meltdown, has placed tremendous
emphasis on capital preservation, security and transparency of the investment -
The FDIC provides feedback via Ombudsman Report to the Industry -
[
Search Related Articles - Updated: 10:57 Pacific Time Zone, September 2009 ]
The FDIC is often appointed as receiver for failed banks. This link contains
useful information for the customers and vendors of these banks. This includes information on the
acquiring bank (if applicable), how your accounts and loans are affected, and how vendors can file claims
against the receivership -
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======>[THE FOLLOWING POST IS BY:
AARP; Below are some Social Security blog comments -
With the economy in a tailspin and people having to work longer to make ends meet, it’s more important than ever to think through just how and when you claim Social Security benefits. You may be able to boost the amount you receive each month by employing two little-known strategies, described here.
These two approaches are available only if you’ve reached full retirement age—66, gradually increasing to 67. They are not widely used, so far. One reason is that most people begin claiming Social Security at the earliest eligible age, 62—before full retirement age—and that reality has spiked in recent months as people face financial pressure.
Mark Lassiter, spokesperson with Social Security, says these two strategies have been around a few years but not many people have used them. “They’re really just getting talked about in the past year,” he says.
If you or your spouse can hold off until full retirement age, the benefits may be significant.
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======>[THE FOLLOWING POST IS BY:
Blog Archives; Below review previously archived Blog.TheFutureWay.com comments -
Blog.TheFutureWay.com archived blog comments -
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Blog.TheFutureWay.com archived blog comments -
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Blog.TheFutureWay.com archived blog comments -
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Blog.TheFutureWay.com archived blog comments -
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Blog.TheFutureWay.com archived blog comments - Alternative Energy Ethanol -
[
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Blog.TheFutureWay.com archived blog comments - Alternative Energy Solar -
[
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Blog.TheFutureWay.com archived blog comments; Trade stocks like the legendary
trader Jesse Livermore -
[
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======>[THE FOLLOWING POST IS BY:
FMHI; Below are FutureManagement informational links -
FutureManagement, a Global Management Consulting & Holding Company, known for our deep
technology and specific industry experience with high customer satisfaction -
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Mark Mariotti is the Chief Executive Officer of FutureManagement, where
he leads the global corporate directives and project management consulting efforts of a
diversified Global Management Consulting & Holding Company -
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Mark Mariotti Profile ]
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======>[THE FOLLOWING POST IS BY:
MCM; On May 7, 2007 Jen was diagnosed with APL M3 leukemia...]
Please visit her online log [ Read latest 'Jen's Progress' news ]
Acute Promyelocytic (M3) Leukemia (APL subtype of AML)
Approximately 50 children are diagnosed with APL, out of the estimated 500 children diagnosed each year with AML in the United States
Discussion Topic - APL M3 Leukemia
Treatment of acute promyelocytic leukemia
Immunocytochemical Diagnosis of Acute Promyelocytic Leukemia (M3) With the Monoclonal Antibody PG-M3 (Anti-PML)
Idarubicin (Zavedos®)
ATRA-IV liposomal retinoic acid
(ATRA CAPSULES), a derivative of vitamin A. An oral formulation (Vesanoid®, tretinoin, Hoffmann-La Roche) is commercially available in the US for treatment of APL
City of Hope (Comprehensive Cancer Center)
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