George Floyd: Fires burn near the White House as protests turn violent

first_imgIn a tweet yesterday Trump said: “Get tough Democrat Mayors and Governors. These people are ANARCHISTS. Call in our National Guard NOW.” In California there was widespread looting and vandalism, while violence broke out in Boston as protesters threw bottles at police officers and set a police car on fire. Show Comments ▼ whatsapp Mayor Bill de Blasio, whose daughter was arrested during the protests, said police conduct was being investigated after videos showed police trucks driving into crowds. US President Donald Trump, who was last night taken to a secure bunker in the White House, is yet to address the nation but has sent repeated messages over Twitter, often accusing the media of stirring up unrest. (Getty Images) Also Read: US riots: Fires burn near the White House as George Floyd protests turn violent The demonstrations have also spread across the globe, with thousands gathering in Trafalgar Square and outside the US embassy in Battersea yesterday to protest. But the protests have showed no signs of abating and clashes between demonstrators and police have become increasingly violent. The police officer, Derek Chauvin, has been charged with third-degree murder. Troops were deployed in 15 US states and Washington DC as thousands defied curfew and took to the streets amid rising anger about race and policing in the country. Authorities have implemented curfews across dozens of US cities — the most since 1968 in the aftermath of Martin Luther King Jr’s assassination. It marked the sixth day of demonstrations since the death of Floyd, an unarmed black man who was killed by a white Minneapolis police officer who knelt on his neck for nearly nine minutes.center_img Fires broke out near the White House and police clashed with demonstrators across the US last night as riots sparked by the death of George Floyd in police custody raged on. Yesterday Trump said the country would be designating the anti-fascist group Antifa a terrorist organisation after accusing them of starting riots. In New York City police arrested roughly 350 people and 30 officers suffered minor injuries during the clashes. Monday 1 June 2020 8:40 am US riots: Fires burn near the White House as George Floyd protests turn violent James Warrington Many of the protests are reported to have started peacefully before descending into violence as the curfew approached and tensions with police rose. whatsapp (Getty Images) Share (Getty Images) Also Read: US riots: Fires burn near the White House as George Floyd protests turn violent More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comlast_img read more

Fallen firefighters remembered during candlelight service, Last Alarm

first_imgLocal Government | Public Safety | Search & RescueFallen firefighters remembered during candlelight service, Last AlarmOctober 4, 2015 by Matt Miller, KTOO Share:Candles are lit as Juneau firefighters read the names of those who’ve perished. (Photo by Matt Miller/KTOO)Over the weekend, Juneau firefighters, their families and other dignitaries remembered and honored firefighters who have died in the line of duty.The Fallen Firefighters memorial candlelight service was held Saturday evening and included a reading of the names of 87 firefighters from around the country who died in 2014 and 31 Alaska firefighters and flight crew members who died in the line of duty within the last 70 years. Their names and hometowns were read by Juneau firefighters as a projected outdoor slideshow displayed their pictures.Cadet firefighters Lisa Palmer and Elizabeth Rodriguez-Moreno stand ready to light candles during Saturday’s observance. (Photo by Matt Miller/KTOO)Firefighter Masoud Abdi rings the station bell for the Last Alarm. (Photo by Matt Miller/KTOO)The memorial also featured remarks about safety by Mayor Merrill Sanford, readings of the Firefighter’s Poem and A Firefighter’s Prayer, a performance of Amazing Grace and a ringing of the station bell for the Last Alarm.“As firefighters, we must be diligent to continually train, to hone our firefighting skills, be aware of our surroundings, and keep ourselves healthy so that we can return home every day at the end of the day to our loved ones,” said Assistant Fire Chief Ed Quinto. “We are here to remember the past and honor the memories of those firefighters who have made the ultimate sacrifice.”The service was held at Capital City Fire/Rescue’s downtown station as the sun set.Listen to the entire observance held on Oct. 3:Audio Playerhttps://media.ktoo.org/2015/10/FallenFFMemorial100315.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume.Station 1 vehicles are brought out, one hanging a large Amercian flag over Glacier Avenue. (Photo by Matt Miller/KTOO)Assistant Fire Chief Ed Quinto leads the memorial observance on Saturday evening. (Photo by Matt Miller/KTOO)(Photo by Matt Miller/KTOO)Share this story:last_img read more

Deloitte loses RBS audit job

first_img whatsapp Share Chris PapadopoullosChris Papadopoullos was City A.M.’s economics reporter until February 2016. He is an economist at OMFIF. THE ROYAL Bank of Scotland (RBS) announced yesterday it would look to appoint Ernst and Young (EY) as auditor from 2016, potentially breaking its 14 year relationship with current auditors Deloitte.Deloitte, who have been the firms auditor since 2000 will continue in the role and undertake audit for the rest of 2014 as well as 2015. The appointment of EY will be recommended to shareholders for approval at the 2016 annual general meeting. Deloitte loses RBS audit job Show Comments ▼ Monday 3 November 2014 8:59 pm whatsapp Read This NextA New ‘Avatar’ Video Game Was Announced and People Have Mean JokesThe WrapThe Case to Renew NBC’s Still-on-the-Bubble ‘Manifest’ – and the Case forThe WrapPandemic Theme Park Layoffs Make Way for Hiring FrenzyThe Wrap’Pose’ Co-Creator Steven Canals Says Show’s Legacy Is ‘Not Just a Moment,’The WrapZendaya Voices Lola Bunny in New ‘Space Jam: A New Legacy’ Teaser (Video)The WrapMayweather-Paul Fight Viewers Report Showtime Streaming OutagesThe WrapFacebook Defends Trump Suspension: Violence, Not Lies, Is ‘Red Line’The Wrap’Conjuring 3’ Tops ‘Quiet Place II’ at Box Office With $24 Million OpeningThe WrapTexas Bakery’s Pride Cookies Sparked Backlash, Now Customers Are Lined UpThe Wrap Tags: NULLlast_img read more

Tories launch pre-election attack on Labour spending

first_img Share Tories launch pre-election attack on Labour spending George Osborne will today launch a stinging attack on Labour ahead of the election, claiming that a win for Ed Miliband’s party would spell billions of pounds of unfunded spending commitments and tax hikes for the UK. The chancellor is set to unveil detailed spending analysis by Treasury officials of the policies Labour has already announced, which Osborne will say run to billions of extra pounds in 2015-16 alone. He is also expected to accuse Labour of lacking fiscal discipline and economic competence, a core message for the Conservative election machine. Labour’s shadow chief secretary to the Treasury, Chris Leslie, last night hit back, accusing the Conservatives of making unfunded promises of their own. “Labour has made no unfunded commitments. In fact the Institute for Fiscal Studies said last month that we had the most cautious approach and, unlike the parties, had promised no net giveaways,” he said. Osborne will be flanked by senior cabinet minsters for the press conference, including William Hague, Sajid Javid, Nicky Morgan and Theresa May. The spending analysis marks the start of the general election campaign period, following the launch of posters by both Labour and the Conservatives. Last night a Conservative spokesman said the Prime Minister will not be attending the report launch as he is keen to avoid being the sole focus of the election campaign. Instead, David Cameron is expected to use his top ministerial team in the weeks ahead to show off the variety of ministers and MPs in the current government.“The evidence we will produce shows that Labour have not demonstrated the fiscal discipline or economic competence that earns an opposition the credibility to form a government. The chaos of unfunded spending promises, higher taxes and more borrowing offered by Labour is a risk to economic recovery,” a spokesman added. The move comes after Cameron hinted yesterday that he would like to hold an EU referendum vote before his 2017 deadline. whatsapp Tags: General Election 2015center_img Express KCS whatsapp Sunday 4 January 2015 11:29 pm Show Comments ▼last_img read more

Brent crude oil edges towards $50 per barrel as gold price takes a breather

first_imgTuesday 28 July 2015 10:46 am Emma Haslett Brent crude continued to edge down today, falling another 1.68 per cent in mid afternoon trading to $52.57 per barrel, its lowest price since January.Meanwhile, WTI crude, the US benchmark, stayed well below the $50 mark, at $47.40. The drop came as commodities prices continued to take a hammering: in recent weeks, precious metals such as gold and platinum, as well as others such as aluminium, copper and iron have taken a battering.But today the slide in gold, at least began to temper: having fallen almost eight per cent since the beginning of the year, today it remained relatively flat at $1,094 per ounce.But the rout in oil prices is likely to continue on increasingly shaky confidence in the Chinese market. However, London-listed oil companies began to show a modest recovery after BP posted results showing a glimmer of hope. While BP itself rose 1.39 per cent to 392.7p, shares in Tullow Oil rose 0.6 per cent to 235.2p and Dragon Oil rose 0.14 per cent.However, Shell trailed behind, with shares falling 0.57 per cent to 1,749.5p.”Oil prices have suffered from negative macro news from China and renewed strength in the trade-weighted US dollar,” said analysts at Bank of America Merrill Lynch.”To top it up, an Iranian nuclear deal has allowed more barrels to seep into the market from floating storage, with the first cargo already hitting East Africa’s shores. Seasonal demand weakness and renewed US dollar strength could continue to press oil lower going forward.” whatsapp Brent crude oil edges towards $50 per barrel as gold price takes a breather center_img Show Comments ▼ whatsapp Share Tags: Gold prices Oil priceslast_img read more

Q&A: Craig Venter’s discounted genome sequencing — now at $7,500

first_img GET STARTED What’s included? Log In | Learn More 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. 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. [email protected] @megkesh What is it? Biotech Correspondent Meghana covers biotech and contributes to The Readout newsletter. About the Author Reprintscenter_img Unlock this article — plus daily market-moving biopharma analysis — by subscribing to STAT+. First 30 days free. GET STARTED Tags diagnosticsgeneticsSTAT+ Meghana Keshavan By Meghana Keshavan May 11, 2017 Reprints Business Matt Houston/AP J. Craig Venter’s outfit Human Longevity is offering a pared-down version of its signature Health Nucleus program — an extraordinarily in-depth physical exam priced at $25,000.The newer pilot, dubbed Health Nucleus X, will be offered at a discounted $7,500. It offers whole genome sequencing, some lab tests, and a full-body MRI scan — with an add-on microbiome analysis for another $500. Q&A: Craig Venter’s discounted genome sequencing — now at $7,500 last_img read more

How bankers and doctors can collaborate to detect ‘early warnings’ of Alzheimer’s

first_imgFirst OpinionHow bankers and doctors can collaborate to detect ‘early warnings’ of Alzheimer’s By Jason Karlawish Dec. 12, 2017 Reprints These age-related financial challenges often coincide with the emergence of troublesome health events, particularly age-related declines in memory and thinking skills. They put older adults at risk of needing long-term care and of being vulnerable to financial fraud, exploitation, or their own financial errors. Once money is lost, a cognitively impaired adult can’t go back to work. Someone else — the family or the state — has to step in to pay. Related: Newsletters Sign up for First Opinion A weekly digest of our opinion column, with insight from industry experts. Banking and medicine have little in common. One is for creating and managing wealth, the other for managing health. Yet together they could help detect and fight the growing burden of Alzheimer’s disease and related dementias. I call this partnership of banking and medicine whealthcare.Thanks to decades-long advances in personal and public health, the average 65-year-old American can expect to live another 19 years. This remarkable progress presents a challenge: Many people might not have enough money to live that long.The monthly pension check has gone the way of the electric typewriter and calculator. Retirement funds, if we have any — half of American families have saved less than $5,000 for retirement — are ours to manage, and we really need that cash to pay for our living expenses and most of our long-term care. Aging Americans are also taking on more debt, such as their children’s and grandchildren’s student loans. Since 1992, the proportion of Americans 75 and older carrying debt has increased from one-third to one-half.advertisement Privacy Policy APStock It’s a problem I see often in the care of my patients.Arthur Packel lost much of his family’s fortune before his wife, Renee, brought him to the Penn Memory Center, where I diagnosed him with Alzheimer’s disease. Joseph Donahue is participating in a study I’m running to test a drug to reduce his risk of developing Alzheimer’s disease. He realized that while he’s actively managing his retirement funds, such as trading equities, he has no system set up to detect an error in these transactions or his other financial transactions.Our day-to-day use of our money provides signals of brain function that can be far more real-world and meaningful than the results of online cognitive tests and brain scans. This is where the banking and financial services industries can help achieve our national “moonshot” goal of preventing Alzheimer’s disease by 2025.In the pencil, paper, and dial-up telephone days, tracking a family’s finances over multiple institutions was a challenge, even for individuals whose brains were healthy. Today, it’s been made easier by volumes of financial data that can be rapidly aggregated and analyzed, along with automated communication of real-time alerts.At the conference, participants discussed how the banking and financial services industries could provide Alzheimer’s “early warnings” using a system that sees older adults’ health as enmeshed in the maintenance of their wealth. Such as system could adopt tried-and-true methods of public health: surveillance, monitoring, and intervention. Related: ‘Type 3 diabetes’: New links emerge between poor glucose metabolism and Alzheimer’s disease “This is a set of circumstances ripe to balloon,” said Patrick Harker, president of the Federal Reserve Bank of Philadelphia, in his opening address at “Aging, Cognition and Financial Health: Building a Robust System for Older Americans,” a two-day conference hosted by the bank in collaboration with the Penn Memory Center, which I co-direct. The problem isn’t just a money problem, he explained, it’s one that affects the health and well-being of older adults and their families.advertisement Please enter a valid email address. Jason Karlawish Leave this field empty if you’re human: Most people spread their funds across multiple institutions. Scammers know this and so adeptly steal a little bit here and a little there. A recurring question was how to get one financial institution to talk to another.Larry Santucci, senior industry specialist at the Federal Reserve Bank of Philadelphia, offered an answer. He closed the conference describing a visionary proposal for a federally operated system that collects alerts from across financial institutions. Bankers, brokers, and doctors like me could use this “eldernet” to identify problems before they spread like a cancer throughout a person’s accounts.That’s the vision of whealthcare.Jason Karlawish, M.D., is a professor of medicine and medical ethics at the University of Pennsylvania and co-director of the Penn Memory Center. In the search for Alzheimer’s drugs, researchers must look beyond beta amyloid @jasonkarlawish A representative from EverSafe, a financial technology company, demonstrated how financial data across accounts can be aggregated and analyzed, and how the company can send out automated alerts when an account has an unusual transaction suggesting fraud or error. With such a system, Renee could have learned about her husband’s problem the first time he forgot to pay a bill. Joseph could continue to manage his accounts knowing that a mistake would be detected and that would be alerted — along with his doctor and other trusted advocates.Casey Greene, a Penn professor and expert in machine learning, showed how we could benefit from studying health and wealth data with the same methods he uses to study genetic and other biological data. Financial information such as credit card purchases and ATM use, as well as voice records from call centers and medical records, could be subjected to methods that learn and predict who’s likely to experience cognitive decline or become a victim of fraud.Technology, of course, is only as good as the people who use it. The financial services industry is built on trust, and trust is about human interactions. The conference discussed how interactions between brokers and their clients are set to undergo a big change in 2018. Just as doctors must ask their patients for the name of an emergency contact and call that person in the event of an emergency, the Financial Industry Regulatory Authority’s rule 4512 mandates that brokers and dealers ask for similar contacts. This requires brokers and dealers to have the kinds of breaking-bad-news and planning-for-the-future conversations that I train medical students and residents to have. [email protected] About the Author Reprints Tags agingdementiafinancemental healthlast_img read more

First phage therapy center in the U.S. signals growing acceptance

first_imgIn some ways, the Center for Innovative Phage Applications and Therapeutics simply gives a name — and $1.2 million — to an institute that already exists. After word got out that Strathdee and her husband’s doctors had managed to save his life with a bacteriophage — literally, a bacteria-eater — her inbox filled with pleas for a repeat performance. They came from all over: the U.S., the U.K., Australia, India, China, Albania. In almost every case, there was someone dying because of antibiotic-resistant bacteria. Viruses that had specifically evolved to kill those microbes might be able to help. “Trust me, at the Eliava, we have tried to convince people that phages are a safe and good alternative to antibiotics for many years,” said Mzia Kutateladze, the director of the Eliava Institute. “Finally the people agreed to use it, and we are very happy, of course.” She estimated that Eliava’s phage therapy center gets around 15 to 20 Americans every year.“There really is, thankfully, some momentum building … around these non-traditional therapies,” said Dr. Helen Boucher, an infectious disease specialist at Tufts Medical Center in Boston, who is not involved with the UCSD project. “I would think of this more in a high-risk, high-reward category. This is largely uncharted territory. … At the end of the day, if you have a product that can work against antibiotic-resistant organisms that isn’t antibiotics, that would be huge.”The news that her brainchild had been funded took Strathdee by surprise in late May. She was at a ceremony for UCSD professors with endowed chairs, at which all of them received medals. “The chancellor’s literally putting the medal around my neck, and he said, ‘Hey, I just sent you some money today,’” she recalled.The new center will collaborate with companies such as AmpliPhi Biosciences and Adaptive Phage Therapeutics to treat future patients. Some of them will have cystic fibrosis, which causes mucus in the lungs to be overly sticky, often allowing drug-resistant microbes to proliferate. Others might have long-term infections that are preventing them from getting organ transplants. Yet others will have implanted devices, which sometimes provide the nooks and crannies where bacteria can grow into a slimy film.“The sad thing is that there is going to be no shortage of patients,” said Strathdee. Tags infectious diseasevirology Related: Bacteriophage are viruses that infect bacteria. David Gregory & Debbie Marshall/ Wellcome Collection HealthFirst phage therapy center in the U.S. signals growing acceptance A patient’s legacy: Researchers work to make phage therapy less of a long shot Related: [email protected] Comparing the Covid-19 vaccines developed by Pfizer, Moderna, and Johnson & Johnson To save a young woman besieged by superbugs, scientists hunt a killer virus General Assignment Reporter Eric focuses on narrative features, exploring the startling ways that science and medicine affect people’s lives. The announcement is also symbolic of a wider shift. With the rise of antibiotics in the 1930s and ’40s, phages went out of fashion in the U.S. But the person who had named them, a Canadian microbiologist named Felix d’Herelle, moved to Tbilisi, in the republic of Georgia, continuing his research at an institute that attracted the admiration of Joseph Stalin himself. Even after d’Herelle’s death, the Eliava Institute kept the flame of phage therapy alive.That hardly helped the viruses’ reputation in America during the Cold War. “It was commie science; there was a taint to it,” explained Dr. William Summers, a phage biologist, historian, and professor emeritus at Yale University.Even though phages continued to be an important part of lab science, the researchers who used them thought they were good for just that: research. The idea of using them for therapy was almost a joke.Then, as antibiotic resistance grew into a worldwide crisis — one that kills some 23,000 Americans a year — that joke started sounding more and more appealing. The funding of a center to administer and collect data on phage therapy is a reversal, of sorts: An admission that this long-disparaged idea is worth a million-dollar second glance. Getting phage therapy to a patient can be a bit a puzzle. These viruses are picky about the microbes they feast on, so you often need to take a swab of the patient’s bacteria, nurture it in a dish, and then test which phages are able to kill it off. You need to make sure that the phages in question will explode a bacterial cell, rather than settling comfortably inside like lice on a kindergartener’s scalp. And then you need to purify it before delivery, so there aren’t any bacterial leftovers that might poison the person instead of saving them.There’s also plenty of bureaucracy, because phages have not been approved by the Food and Drug Administration.It’s often a crazy rush to find the right phage with emails and calls and tweets, then getting emergency experimental approval — and that was largely what happened for the five other patients who’ve been treated with phages at UCSD since Strathdee’s husband was revived.“We wanted to make it so it isn’t such a scramble,” said Dr. Robert “Chip” Schooley, an infectious disease specialist at UCSD, who administered the phage to Strathdee’s husband, and who is also co-director of the new center. @ericboodman Sometimes, Strathdee and her network couldn’t act fast enough, and the patient died. But occasionally, it worked out. “I’ve had a second job as a phage-wrangler,” said Strathdee, who is the associate dean of global health sciences at UCSD, and who has been named a co-director of the new center. “When we started to treat patients, each one was like reinventing the wheel all over again: The phone calls at the 11th hour, the paperwork.”advertisement By Eric Boodman June 21, 2018 Reprints When her husband was dying of a drug-resistant infection, Steffanie Strathdee had a last-ditch idea. They could try treating him with a virus that would kill the bacteria colonizing his insides. The method, called phage therapy, was popular in former Soviet republics, but had mostly been abandoned in the U.S. Researchers had to hunt for the right virus in Texas pigsties and sewage treatment plants.That was 2016. Phage therapy is still very much experimental — but it’s come a long way since then. New companies have popped up, hoping to get approval to sell these viruses as drugs. A phage directory has come together, lab by lab, helping doctors figure out who has which virus.Now, the U.S. is getting its first phage therapy center, at the University of California, San Diego. Its mission is to run clinical trials, but also to streamline the mad dash to secure the right phage before a patient dies.advertisement About the Author Reprints Trending Now: Eric Boodmanlast_img read more

New round of tighter credit hitting global economy, Carney warns

Share this article and your comments with peers on social media The global economy is being confronted with a new wave of credit tightening as a result of the European debt crisis that will subdue growth in many countries, Bank of Canada governor Mark Carney warns. In his first speech since being named by G20 leaders to the head of the international body in charge of banking reform, Carney used a keynote speech to a London business audience Tuesday to stress the need for quick action to increase global liquidity. Related news Facebook LinkedIn Twitter Canadian Press Rising interest rates could dampen stimulus impact: PBO Lessons from 2009 helped BoC avoid liquidity stress in 2020 But there was also a long game objective to Carney’s largely technical speech in one of the world’s leading financial hubs: connecting the dots on how he will use his three-year posting at the Financial Stability Board to try to end the boom and bust liquidity cycles that constantly plague the global economy. “Global liquidity has fluctuated wildly over the past five years and we are on the cusp of another retrenchment,” he said in notes of the address released in Ottawa. “Over the medium term, the continuation of such extreme liquidity cycles could ultimately threaten open capital markets and a free trading system if not better addressed.” With private liquidity drying up over concerns about sovereign debt in Europe, Carney said it is again up to the public sector, in particularly central banks, to ensure there is sufficient credit available at reasonable terms for businesses and households to continue to invest and spend. The recent retreat of available credit — much as happened when Lehman Brothers collapsed in 2008 — has already pushed Europe into what he said will be “at least a brief recession.” But the impact has spread beyond Europe, he noted. Global financial markets have tightened significantly and market-making activity has decreased. “The effect on the real economy will soon be felt,” he said. Forecasts from global organizations such as the International Monetary Fund, as well as central banks, and private sector economies have all recently pointed to slower global and domestic growth. In Canada, Carney last month projected the economy would slow to sub-one per cent growth in the last three months of this year, half of the expected rate of the third quarter. The long-term answer to these wild fluctuation in global liquidity is enactment of financial system reforms proposed by the G20, which the FSB will help monitor, Carney said. The reforms, if successful, will help moderate the cycles and help smooth out global liquidity flows by making financial institutions more sound, with greater capital reserves. “Measures that increase the resilience of financial institutions … will reduce the probability and frequency of a sudden liquidity shock,” he explained. “Measures that reduce the procyclicality of the financial system will help stabilize global liquidity flows.” Keywords Interest rates,  Consumer borrowing and saving,  Financial crisisCompanies Bank of Canada Income inequality narrowed amid fiscal supports in 2020: StatsCan read more

Basel Committee aims to make banks’ disclosures of risk-weighted assets comparable

first_imgJames Langton How should banks allocate capital for crypto? Bitcoin should face tough capital rules, Basel Committee says Facebook LinkedIn Twitter In particular, the most significant revisions aim to standardize certain aspects of quantitative disclosure in order to enhance comparability of bank’s disclosures, both between banks and over time. The revised requirements, which must be adopted by the end of 2016, are designed to improve the transparency of the models that banks use to calculate their regulatory capital requirements. The Basel Committee says that its revisions to the disclosure requirements address shortcomings in the existing regulatory framework, and comprise part of its broader agenda to reform regulatory standards for banks in response to the global financial crisis. “The revised disclosure framework represents an important shift in both the format and granularity of required bank disclosures. These changes substantially strengthen the disclosure framework and will help users of the disclosures to better understand and assess the measurement of a bank’s risk-weighted assets,” said Stefan Ingves, chairman of the Basel Committee and governor of Sveriges Riksbank. Related newscenter_img Banks will have to ramp up their balance sheet disclosure under new requirements announced Wednesday by global regulators. The Basel Committee on Banking Supervision has issued the final version of its revised disclosure standards under the new Basel III capital adequacy regime. The stepped-up disclosure requirements aim to enable the market to more easily compare banks’ disclosures of their risk-weighted assets. Keywords Basel Capital AccordCompanies Basel Committee on Banking Supervision Translating climate risks into financial risks takes work Share this article and your comments with peers on social medialast_img read more