How do you spell relief?

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How do you spell relief?

first_imgThree processes have been streamlined, facilitating low-income designations, blanket waivers, and small credit union exams; Fine-tune the proposed rule on asset securitization. My intent is to allow qualified federal credit unions to securitize their own assets as an additional tool to manage interest rate and liquidity risks. Four legal opinions have been clarified, allowing more flexibility in credit union operations.Results from the Regulatory Modernization Initiative are now posted on the NCUA website.More Relief in the WorksThis year I have an ambitious agenda for relief. For starters, I would like to:Modernize the rule on member business lending. My intent is to essentially remove all limits on MBLs except those imposed by statute. This would eliminate waivers, remove the requirement for personal guarantees, and end unnecessary restrictions on construction and development loans. Finalize regulatory relief on fixed assets. Eliminating the 5 percent limit and the need for fixed asset waivers would empower federal credit unions to make their own business decisions on purchases of land, buildings, office equipment, and technology. Add more automatic approvals for associational common bonds. Our proposed rule cited seven categories of associations that NCUA could automatically approve for federal credit union fields of membership. Commenters suggested several more categories of associations that should be considered to facilitate access to credit union membership as the law intended.center_img When you saw this headline, some of you may have flashed back to a decades-old television commercial for an antacid, which taught us that relief is spelled, “R-O-L-A-I-D-S.”Flash forward to today: If there were a comparable commercial for financial institution officials who are pained by regulatory burdens, it would proclaim that relief is spelled, “E-G-R-P-R-A.”The awful acronym (pronounced ee-GRIP-ra) stands for the Economic Growth and Regulatory Paperwork Reduction Act. It requires federal banking agencies to review all of their regulations every 10 years and seek public comments on how to improve those rules.NCUA is not required by the EGRPRA statute to engage in the regulatory review process with federal banking agencies. However, NCUA has chosen to engage in this process.In fact, to coincide with the second round of EGRPRA, 17 NCUA rules are currently open for a 90-day comment period.EGRPRA is consistent with NCUA’s three-year review of each regulation. It is good government. And it aligns perfectly with our Regulatory Modernization Initiative.Regulatory Modernization InitiativeI initiated the Regulatory Modernization Initiative in 2011 to implement President Obama’s Executive Order 13579. We committed to:“Promote retrospective analysis of rules that may be outmoded, ineffective, insufficient, or excessively burdensome, and to modify, streamline, expand, or repeal them in accordance with what has been learned.”Ever since becoming NCUA chairman, I have invited ideas about how to improve regulations that NCUA has direct authority to change—as long as the changes won’t compromise safety and soundness.Frequently when I ask credit union officials for suggestions about rules that are particularly onerous, they cite rules we cannot change—such as Bank Secrecy Act regulations or other rules issued by other agencies.However, some of the very best ideas for change have come from credit union volunteers and officials. And whenever we can safely relieve regulatory burdens, we take action.In fact, over the past three years, we have taken 15 actions that have cut red tape and provided lasting benefits to credit unions:Eight regulations have been eased, providing regulatory relief to thousands of credit unions; Exempt more credit unions from risk-based capital, interest rate risk, and liquidity rules. The NCUA Board has committed to review the definition of “small” credit unions under the Regulatory Flexibility Act. The time is right to raise the threshold from $50 million in assets to $100 million, so that 745 more credit unions would qualify for regulatory exemptions.I hope we are able to accomplish all of these regulatory relief objectives, while finalizing a risk-based capital rule which will protect the credit union system from paying for losses of those who take excessive risks. That would truly spell relief. 1SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Debbie Matz Debbie Matz was nominated by President Barack Obama to serve as the eighth board chair of the National Credit Union Administration (NCUA). After confirmation by the U.S. Senate on … Web: www.ncua.gov Detailslast_img read more

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Girls soccer Bears, Lakers earn wins before playoffs

first_img Tags: CazenoviaChittenangogirls soccer And the Bears traveled north to face General Brown Saturday afternoon, where it prevailed 2-1 over the Lions, goals by Garcia and Martin proving enough as Kelly recorded seven saves.Cazenovia, meanwhile, only had one game last week, but made it count as it traveled to Hannibal and, with a big first half, produced a 4-1 victory over the Warriors.All of the goals came early as Caitlin Smithers and Katie Rajkowski led the way, each finishing with one goal and one assist. Julia Reff also had a goal as as Ava Gavitt and Molly Dolan got assists, too.With a final regular-season mark of 11-4-1, Cazenovia picked up the no. 8 seed for the Section III Class B playoffs and host no. 9 seed South Jefferson in Wednesday’s opening round. A possible quarterfinal with top seed Central Valley Academy could await the Lakers with a victory over the Spartans.And with its 13-3 record, Chittenango landed the no. 6 seed. Also at home for its opening-round game, the Bears face no. 11 seed Phoenix on Thursday night, the winner to get to the quarterfinals against no. 3 seed Westhill or no. 14 seed General Brown.Share this:FacebookTwitterLinkedInRedditComment on this Story Maryanna Garcia finished with one goal and one assist as Sarah Martin and Ally Shoemaker also found the net. Bears goalkeeper Cassidy Kelly stopped all nine shots she faced.A night later, amid the wind and rain, Chittenango faced Mexico, and the challenging conditions affected both teams, but the Bears did enough to edge the Tigers 3-2.Martin had a part in each of Chittenango’s three scoring plays, netting two goals and assisting on Ally Shoemaker’s tally. Shoemaker also assisted on a Martin goal and Kelly had to make seven saves.center_img During the last week of the regular season, the Chittenango girls soccer team was intent to build upon the good work it had done to turn around a mid-season slump, including its 3-1 win over Cazenovia on Oct. 7.The Bears hosted Solvay last Tuesday night and got an effort from its offense similar to what it was doing early this fall during a 7-0 shutout of the Bearcats.For Chittenango, the most encouraging part was the distribution of its production. Emily Moon led the way, scoring twice and getting a pair of assists, while Madison Wagner also got two goals.last_img read more

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No Red Carpet for Liverpool at Old Trafford

first_imgThe two most successful clubs in English football-Manchester United and Liverpool will this weekend renew hostilities in an encounter that headlines the Premier LeagueWhile Liverpool had been struggling of late, their Sunday host, Manchester United had been on a winning streak in all competitions.Little wonder, former Anfield midfielder, Didi Hamann is of the opinion that Liverpool will struggle to handle a resurgent United on Sunday. The Red Devils look to be back in the title chace after a run of six league wins on the bounce moved them 10 points behind leaders, Chelsea.The Red Devils currently trail second-place Liverpool by four points but could cut the gap on their fierce rivals to just one point with a win at Old Trafford this weekend. Hamann is confident Mourinho can continue United’s impressive form until the end of the season.Liverpool are five points behind Chelsea but failed to beat relegation battlers, Sunderland and League Two outfit, Plymouth in the FA Cup.The former Liverpool star said: “Once Jose Mourinho’s team start rolling, they’re like a juggernaut – they can be incredibly hard to stop. United are unbeaten in 11 league games now – when he was at Chelsea Jose went on an unbeaten league run of 40 games and it wasn’t a one-off. “Chelsea had six unbeaten stretches that went over 12 games in the league under Mourinho’s watch. Manchester United haven’t been too successful in recent years but there is huge belief in the camp. “They are a serious force, and there’s no reason why this momentum would stop between now and May. United still have a massive role to play in the title race.“Ten points is a lot of ground to make up on Chelsea, but in the third week of December they were nine points off fourth place. Now they’re only three points away from Man City in fourth, and can close the gap to Liverpool to two if they win on Sunday. It isn’t impossible.”Meanwhile, Mourinho has said he, his players and even the club’s supporters would need to raise their game when arch rivals Liverpool visit Old Trafford this weekend.United beat Hull City 2-0 in Tuesday’s League Cup semifinal first leg to make it nine games in succession, while Liverpool suffered a one nil loss to Southampton on Wednesday. However, with the Reds five points above the Devils in second place in the table, Mourinho wants everyone to be at their very best on Sunday.“I think now about Sunday. I need to do better on Sunday, the players need to do better and the stadium they need to do better,” Mourinho said.Meanwhile, West Bromwich Albion skipper, Darren Fletcher is hoping his side can extend their unbeaten run against Tottenham Hotspur when they travel to White Hart Lane in the Premier League today.West Brom, who are eighth in the league, have managed to avoid defeat in their last three encounters with the North London club, including a 1-1 draw at the Hawthorns in October.Spurs have not lost at home this season but 31-year-old Scotland international Fletcher is eyeing another positive result that could push West Brom up to seventh.“We managed to get a point against them earlier on in the season,” Fletcher told West Brom’s official website.“We know we are going to have to be on top of our game on Saturday, (today) but we have done well there in the past and hopefully we can get another positive result.”Third-placed Spurs are on a run of six consecutive victories in all competitions, while West Brom have won their last two Premier League matches.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more

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