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Streamlining Banking Processes

first_img in Daily Dose, Featured, Government, News Demand Propels Home Prices Upward 2 days ago Related Articles Tagged with: Banks Financial Services Committee FSOC House of Representatives Lending nonbanks SIFI Stress Test April 12, 2018 1,659 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Home / Daily Dose / Streamlining Banking Processes The House of Representatives recently passed two bipartisan bills that are aimed at streamlining processes for financial institutions across the country. While H.R. 4293, the Stress Test Improvement Act of 2017, looks to improve the efficiencies of the current stress test requirements for banks, H.R. 4061, The Financial Stability Oversight Council (FSOC) Improvement Act of 2017 looks at reforms for the designation process for nonbanks.Both the bills will now head to the Senate for a vote. “At the end of the day, it’s not really the banks that are the subject of these regulations. At the end of the day, it’s their customers,” said Financial Services Committee Chairman, Senator Jeb Hensarling of Texas. “What the Financial Services Committee and this House have to do is ensure that there is affordable and available credit to help fund people’s American dreams. That’s what these important bipartisan bills will help achieve.”The FSOC Improvement Act, which was passed by a vote of 297-121, aims to reform the FSOC designation process to enhance the transparency and procedural fairness of the nonbank systemically important financial institutions (SIFI) designation process. According to this bill, while the FSOC will retain the power to make a determination regarding any nonbank financial company, the bill would afford affected institutions a greater opportunity to be heard by the functional regulator and modify its business, structure, or operations prior to the designation.“Today’s vote on H.R. 4061 is a critical step toward providing the FSOC with additional ways to address potential risks to the financial system, while also making the systemically important financial institution (SIFI) process more accountable and transparent,” said Paul Schott Stevens, President and CEO of Investment Company Institute (ICI). “This legislation would enhance the FSOC’s ability to reduce systemic risk and ensure that nonbank SIFI designations are reserved for limited cases when identified risks to financial stability cannot be addressed more effectively by an entity’s primary regulator or action by the entity itself.”The Stress Test Improvement Act, which was passed by a vote of 245-174, would streamline the current regime for stress testing banks and make the company-run stress test an annual exercise. It would reduce the number of supervisory scenarios from three to two and allow institutions to determine if they have sufficient capital to absorb losses and support the operations during the harshest economic conditions.This bill would also limit the ability of the Federal Reserve to object to a company’s capital plan based solely on qualitative deficiencies.“Stress tests are an important regulatory tool that have much improved the safety of our financial system,” said Senator Maxine Waters of California while opposing the passage of the bill. “When we crafted Dodd-Frank, we mandated these stress tests and put in place other enhanced prudential guardrails for large banks to not only prevent damage to our economy but also help grow our economy. And they are working. But H.R. 4293 weakens the rigor and frequency of those stress tests, a move that simply makes no sense.”  Print This Post The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: Radhika Ojhacenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save Demand Propels Home Prices Upward 2 days ago Streamlining Banking Processes Servicers Navigate the Post-Pandemic World 2 days ago Previous: HUD & DOJ Partner Against Sexual Harassment in Housing Next: Rising Rates, Squeezed Supply Have Housing Industry’s Attention Banks Financial Services Committee FSOC House of Representatives Lending nonbanks SIFI Stress Test 2018-04-12 Radhika Ojha Subscribelast_img read more


May 31, 2021 0

Housing Activity Enters 2021 ‘On Strong Footing’

first_imgHome / Daily Dose / Housing Activity Enters 2021 ‘On Strong Footing’ Previous: Fixed-Rates Inch Closer to 3% Mark Next: NY Court of Appeals Rules on Foreclosure Deceleration, SOL Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago According to BuildFax’s January 2021 “Housing Health Report,” single-family housing authorizations decreased just 0.36% from December 2020’s totals, remaining relatively flat, partly attributed to rising building material costs and a lack of affordable lots. Despite the slight dip in month-over-month activity, new housing supply remains strong, with year-over-year activity up 9.89% and the trailing three-month outlook, covering the months of November 2020 to January 2021, up 11% despite a continued tight national housing supply.“Housing activity enters 2021 on a strong footing,” said Jonathan Kanarek, Managing Director of BuildFax. “January marks the sixth month of year-over-year increases in new and existing housing supply, which should be welcome news for the broader economy.”The report found that housing maintenance volume and spending increased 8.37% and 17.87% respectively, year-over-year. Additionally, remodeling volume and expenses—a subset of maintenance including home renovations, additions and alterations—increased 10.04% and 12.37% year-over-year, respectively.Homeowners were hesitant to enter the market in January, leading to new home inventory lows. Consequently, existing housing activity remains strong as homeowners choose to invest in their properties rather than re-enter the market.“However, despite increasing new construction, homeowners are facing a severe housing shortage,” said Kanarek. “Homebuyers are likely to face a competitive spring homebuying season, as sellers remain hesitant to re-enter the market, home prices soar and interest rates slowly tick upwards.” BuildFax’s “Housing Health Report” was compiled by examining properties in the U.S. between the years 2013 and 2021. All data is seasonally-adjusted and imputed to reflect numbers representative of the entire country. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago February 18, 2021 994 Views About Author: Eric C. Peckcenter_img BuildFax 2021-02-18 Christina Hughes Babb Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: BuildFax Sign up for DS News Daily  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Housing Activity Enters 2021 ‘On Strong Footing’ Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com. in Daily Dose, Featured, Market Studies, News Subscribelast_img read more


May 31, 2021 0

Blackfriars’ £100m Southpoint scheme prepares to go into orbit

first_imgTo access this article REGISTER NOWWould you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week. Would you like to read more?Register for free to finish this article.Sign up now for the following benefits:Four FREE articles of your choice per monthBreaking news, comment and analysis from industry experts as it happensChoose from our portfolio of email newsletterslast_img


October 20, 2020 0

San Carlos bans pork, live hogs from Luzon

first_imgHe told participants to buy pork meatthat has undergone inspection by the slaughterhouse department and to stopfeeding hogs with pigswill. He assured the public thatlocally-produced pork ASF-free. Gustilo also said that the citygovernment has intensified their information and dissemination campaignon ASFby launching a series of orientations. City veterinarian Dr. Jeff Reonaldiscussed the effects of the disease on the economy and preventive measures thecity has undertaken to prevent ASF from entering the community. Among those attendees includerepresentatives from the city’s 18 barangays, Central Philippine StateUniversity students, hog raisers, farm owners, paravets, and technicians, amongothers. Mayor Renato Gustilo said as apreventive measure, he issued an executive order enforcing a 90-day ban onhogs, pork, pork products, and by-products from ASF-hit areas. BACOLOD City –The city of San Carlosin Negros Occidental has cracked down on the spread of the dreaded Africanswine fever (ASF), issuing orders controlling the entry of live hogs and porkproducts into its area. This move, according to Gustilo, aimsto protect the multi-billion swine industry of the province. “All local government units now arevigilant and requiring permits for pork and processed products isunderstandable,” the governor said. Last month, Gov. Lacson alsoissued an executive order implementing a 90-day entry ban for pork productscoming from Luzon. ASF is a contagious hemorrhagic viraldisease among domestic and wild pigs that can spread rapidly regardless ofborders. Though ASF is not a risk to human health, it can still bring seriouseconomic and production losses to the swine industry./PNlast_img read more


September 25, 2020 0