U.S. efforts to undo regulatory reforms likely to be limited: Russell

first_img Facebook LinkedIn Twitter James Langton In his latest letter to the industry, Russell recounts recent meetings in London and Basel with global policymakers in his role as chairman of the International Council of Securities Associations (ICSA). He reports that there is little appetite among these bodies — such as the Bank of International Settlements, the Financial Stability Board, and the International Organization of Securities Commissions — to back away from recent reforms. Global regulators view the efforts to reform bank capital and liquidity standards and to enhance regulation of the over-the-counter (OTC) derivatives markets as “providing a significant bulwark against reoccurring financial crises,” Russell says. While efforts to undo some of this work driven by the new U.S. administration, and possibly as part of the Brexit negotiations, “will have some impact … it is more likely that significant rollback in the G20 reforms will be resisted and limited,” he suggests. “Any adjustments to the existing regulatory framework will be carefully scrutinized in terms of promoting capital formation and economic growth, and these changes will be minimal,” Russell says. At the same time, Russell says that regulators do not appear to share the financial industry’s concerns about bond market liquidity, or liquidity in global repo markets. “Discussions confirm that regulators are not convinced by the quantitative evidence and related analysis of a widespread liquidity problem in corporate bond markets,” he reports. “Certainly, they do not see sufficient evidence to justify broad-based countervailing adjustment to regulatory reforms.” Russell also notes that there is also a lack of unity from regulators on possible reforms to conduct standards in fixed income, currency and commodities (FICC) markets. As a result, “it is unclear whether consensus on market conduct in debt markets can be achieved,” he says. Ultimately, global regulators are not interested in dramatically changing course on their recent reforms to the global financial system. “It is evident from discussions with the key global regulators, notably the BIS, FSB and IOSCO, that recommendations for some easing in the regulatory reforms in the cash and OTC derivatives markets will be strongly resisted,” he says. Although there may be some room for tinkering around the edges, in areas such as margin rules for the OTC derivatives markets, and technical changes to bank liquidity requirements, Russell says, “The regulatory objective will be to strengthen the resilience of capital markets by improving market liquidity (and boosting bank lending), without undermining the stability framework of the global financial system.” Photo copyright: filmfoto/123RF Related news OSC seeks market structure expertise The new U.S. administration may be eager to roll back much of the regulatory reform that has taken place since the global financial crisis, but that effort is likely to be rebuffed at the international level, according to Ian Russell, president of the Investment Industry Association of Canada (IIAC). MFDA seeks to speed up account transfers Share this article and your comments with peers on social media Regulators must avert looming irrelevance: IAP Keywords Regulatory reform Adoption of big regulatory changes must avoid unintentional harm last_img read more

$1.7 Billion for Infrastructure Upgrading in Rural Communities

first_imgAdvertisements RelatedNew Parliamentary Year Begins $1.7 Billion for Infrastructure Upgrading in Rural Communities Budget 2014/2015April 3, 2014Written by: Latonya Linton RelatedMore Improvements for Education Sector This Year FacebookTwitterWhatsAppEmail center_img RelatedDecline in All Major Crimes The Government will, this fiscal year spend $1.7 billion to upgrade infrastructure such as water, sewer, and roads, in the rural communities of St. Ann and St. Elizabeth, under the Jamaica Economical Housing Project.This is outlined in the 2014/15 Estimates of Expenditure, which was tabled in the House of Representatives by Minister of Finance and Planning Dr. the Hon. Peter Phillips on Thursday (April 3).The project also seeks to provide affordable housing solutions in St. Elizabeth and, to also alleviate the deficit of housing solutions in St. Ann, by providing a mixture of affordable housing solutions, primarily for employees in the tourism industry.Achievements up to March 2014 include: the completion of 130 service lots at Bell Air III St. Ann cluster; and the completion of upgraded infrastructure at St. Ann Cluster of 1,320 solutions at Belle Air I, Belle Air II and Mt. Edgecombe IV.Anticipated targets for the 2014/15 fiscal year include the completion of 634 service lots in Belle Air III and the completion of 200 service lots in Luana Gardens.The project is funded by China EXIM Bank, and the Government of Jamaica, is scheduled to be completed by January 2015. Story HighlightsThe Government will, this fiscal year spend $1.7 billion to upgrade infrastructure in St. Ann and St. Elizabeth.The project also seeks to provide affordable housing solutions in St. Elizabeth and, to also alleviate the deficit of housing solutions in St. Ann.The project is funded by China EXIM Bank, and the Government of Jamaica, is scheduled to be completed by January 2015. last_img read more

Friends of PA Library seek books for March sale

first_imgHave extra books cluttering your life? Well recycle them and help your library at the same time! Next Up The Friends of the Port Arthur Public Library is in need of gently used donations for the March Book Sale. All proceeds of the book sale support library programming such as technology improvements and the summer reading program.The public is invited to donate books, textbooks, CDs, DVDs, and artwork. Donations are accepted at the front desk during regular library hours. Please bag or box donations. Please do not place donations in the library return drop box. A receipt of donations is given upon request.Patrons can submit a picture of their donations to www.facebook.com/friendsofpapl Port Arthur Public Library is located at 4615 Ninth Ave. in Port Arthur and the phone number is 409-985-8838.last_img read more

Virtual reality sheds new light on how we navigate in the dark

first_imgShare Share on Twitter Share on Facebook Pinterest LinkedIncenter_img As everyone who has gotten up in the middle of the night to go to the bathroom knows, the brain maintains a sense of place and a basic ability to navigate that is independent of external clues from the eyes, ears and other senses.A series of immersive virtual reality experiments has now confirmed that the human brain’s internal navigation system works in the same fashion as the grid cell system, a specialized neural network discovered in rats only 10 years ago, which has since been identified in a number of other mammals, including mice, bats and monkeys.The experiments were performed by a research team headed by Timothy McNamara, professor of psychology at Vanderbilt University, and described in the June 29 issue of the journal Current Biology. Email Questions about the brain’s ability to navigate have engaged philosophers and scientists for a long time. For example, the 18th century philosopher Immanuel Kant argued that perception of place was an innate ability independent of experience. In 1948 American experimental psychologist Edward Tolman proposed that the brain must maintain a map-like representation of its surroundings.But it wasn’t until the 1970s that an English scientist, John O’Keefe, found where this map-like representation was hidden in the brain when he discovered the existence of ‘place cells’ in the hippocampus. Place cells are specialized neurons that become active whenever a free roaming rat reaches a specific location in its environment. Because different place cells become active when the animal is in different places, large numbers of these cells could provide the basis of the spatial representation Tolman had proposed.In 2005, a team of Norwegian scientists headed by Edvard and May-Britt Moser discovered that place cells were only one part of a more sophisticated system that not only serves as the basis for spatial memory but also gives individuals their basic navigational sense. It is called the grid cell system and it is located in a narrow strip of tissue on the bottom of the brain called the entorhinal cortex. The EC acts as the main interface between the hippocampus and the neocortex.By tracing connections from the place cells in the hippocampus to the EC and by moving their rats from small cages to larger enclosures, the Mosers discovered a set of neurons with an astonishing firing pattern. Instead of becoming active at the single location like place cells, they became active at several locations. When rats were allowed to explore these large enclosures for extended periods of time, it became apparent that the locations at which a particular grid cell was active formed a remarkably regular grid-like pattern, similar to honeycomb. As a result, they were named grid cells.In 2014, O’Keefe and the Mosers received the Nobel Prize in Physiology or Medicine for their discoveries.Since grid cells were identified in animals, researchers have found circumstantial evidence that humans have a similar navigation system. For example, direct recordings of nerve activity in the brains of patients with epilepsy during pre-surgical investigations have found evidence for place-like cells in the hippocampus and grid-like cells in the EC. However, other experiments, which found that individuals with damage to their hippocampus and EC can maintain their sense of direction while blindfolded, have raised questions about the extent to which humans depend on this part of the brain to navigate.McNamara and his collaborators — Vanderbilt doctoral students Xiaoli Chen and Qiliang He, Jonathan Kelly from Iowa State University and Ila Fiete from the University of Texas, Austin — became interested in a series of experiments where the researchers had recorded how the rat’s grid cell system responds when the size of the its enclosure is altered. The researchers who performed the experiments found that the grid spacing increased when the enclosure was enlarged and decreased when the enclosure shrunk.The activity of individual grid cells does not identify specific locations by themselves. But seven years ago Fiete showed mathematically that the activity patterns of collections of grid cells could be translated into unique spatial positions.McNamara realized that they could perform some similar experiments for human participants using immersive virtual reality and apply Fiete’s model to see if the human navigation system operates in the same fashion as a grid-cell system.Specifically, the researchers created virtual enclosures of different sizes, had participants walk to a series of way markers (colored columns of light that appear one at a time and disappear when a participant reaches them), blanked out their view, asked them to find their way directly back to the first marker and recorded how close they came to its position. The first few trials were conducted in an enclosure that remained the same size. For the final trial, however, they changed one of the dimensions by as much as 40 percent.‘In most cases, the participants don’t even notice that the size of the enclosure has changed,’ said McNamara. ‘But, when it does change, the positions where they stop are significantly farther from the target than they are when the enclosure remains the same. When the enclosure increases in size they tend to undershoot and when it decreases they tend to overshoot.’The amounts that the participants undershot and overshot were remarkably consistent with what the studies with rats and Fiete’s model predicted if the individuals were being guided by a grid-cell system that had been fixed by the dimensions of the original enclosure.‘We still can’t say for certain that people use a grid-cell system to navigate,’ said McNamara. ‘But we can say that, if people use a different system, it seems to behave in exactly the same way.’last_img read more

Where I work

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COVID-19 Not Just Seasonal, Cautions WHO, as ‘First Wave’ Continues

first_img St. Lucia records more cases of COVID Oct 15, 2020 CMO says Saint Lucia at critical stage of COVID-19 outbreak Oct 16, 2020 Globally, WHO has reported as on Tuesday morning Geneva time, 16,301,736 confirmed cases of COVID-19, including 650,069 deaths. (United Nations News) The COVID-19 virus is likely not impacted by the changing seasons like other respiratory diseases, the UN health agency said on Tuesday, before urging much greater respect for physical distancing measures to stop it spreading. Six Eastern Caribbean countries deemed safe for travel – CDC Oct 15, 2020 More deaths from COVID-19 recorded in CARICOM countries,… ‘You cannot fight a fire blindfolded’: WHO chief blasts slow virus testing response(United Nations News) “The most effective way to prevent infections and save lives, is breaking the chains of transmission. And to do that, you must test and isolate”, said WHO chief Tedros Adhanom Ghebreyesus, at Monday’s COVID-19 press briefing, held at the UN health agency’s headquarters in Geneva: “Once again,…March 17, 2020In “CARPHA”St. Kitts-Nevis Moves Into Complete Lock-Down For Three DaysBasseterre, St. Kitts, March 31, 2020 (SKNIS): The Government of St. Kitts and Nevis has (ramped) up its measures by implementing a complete lock-down for three days to further protect citizens and residents from the spread of the COVID-19 virus popularly known as the Novel Coronavirus. “The Cabinet of Ministers…March 31, 2020In “CARICOM”WHO Chief Points to ‘Green Shoots of Hope’ in COVID-19 PandemicThe UN’s top official also commended nations in Southeast Asia, the Caribbean and the Pacific, which took early action to suppress the virus. (United Nations News) Although COVID-19 cases are on track to hit 20 million worldwide this week, and 750,000 deaths, the head of the World Health Organization (WHO)…August 11, 2020In “CARPHA”Share this on WhatsApp You may be interested in… “The season does not seem to be affecting the transmission of this virus”, said Dr. Margaret Harris, World Health Organization (WHO) spokesperson, highlighting many people’s “fixed” belief to the contrary. “What is affecting the transmission is mass gatherings, it’s people coming together, and people not social distancing, not taking the precautions to ensure they are not in close contact.” Read more at: United Nations News Share this:PrintTwitterFacebookLinkedInLike this:Like Loading… Oct 16, 2020last_img read more

Women’s Basketball: Jan. 21 Scoreboard

first_imgIn overcoming a halftime deficit for the fifth time in seven conference games, NSU got a combined 31 second-half points from Perez and Lee. After playing their last three on the road, the Sugar Bears come home to the Farris Center for three of their next four, beginning with Nicholls on Saturday as part of a doubleheader with the men’s game between the schools to follow. Defending Southland tournament champion Northwestern State comes to Conway on Tuesday. Their impact Wednesday night, however, was massive. Trailing 74-71 after a Perez jumper with 12 seconds to play, the Colonels inbounded the ball and worked it to the front court before calling timeout. The Lady Demons conclude their season-long, three-game homestand Saturday when they host McNeese State at 1 p.m. At halftime of Saturday’s game, the annual NSU Gumbo Cook-Off will be held.  The Lady Demons (11-7, 6-1 Southland) certainly found their offensive groove in the second half, shooting 50 percent from the floor and 41.7 percent from 3-point range. Perez finished with a game-high 24 points, her fifth 20-point effort in the first seven conference games. Lee added 17 – 16 in the second half – while Attura’s 16 gave NSU its third double-figure scorer. Jenny Nash hit five of her seven 3-point tries to lead Nicholls with 20 points. Shay Arnick bulled her way to 18 points while Marina Lilly added 12 for the visiting Colonels. – Return to top – Despite the big nights from the backcourt – 11 of Attura’s career-high 16 points came in the first half and helped keep the Lady Demons within striking distance despite sub-part shooting from the free-throw line – Nicholls (7-10, 3-3) had a chance to send the game to overtime. UCA got 16 points each from Watts and Maggie Proffitt, with Proffitt hitting 4-of-9 from 3-point range to push her career total to 103 – making her the 14th Sugar Bear in program history and 4th in the Division I era to reach the 100 3-point field goal milestone. During the game, Proffitt passed former Sugar Bear point guard and current assistant coach Destinee Rogers and former Sugar Bear all-american and assistant coach Caronica Randle on the career list. She now ranks 3rd in UCA’s Division I history and is tied for 11th overall all-time. Inbounding from the far sideline, Nicholls got the ball to Emani White on the wing well beyond the 3-point line. White’s last-ditch jumper missed wide left, allowing the Lady Demons to hold on and maintain at least a share of the Southland Conference lead. Janelle Perez topped 20 points for the third straight game, Keisha Lee surpassed the 1,000-point mark for her career and Beatrice Attura tallied a career high 16 points as the Lady Demons emerged with a 74-71 Southland Conference win against Nicholls State at Prather Coliseum. Northwestern State entered the day tied with Lamar atop the conference standings. Northwestern State 74, Nicholls 71NATCHITOCHES, La. – Physically, the members of Northwestern State’s women’s basketball backcourt do not qualify as huge. The win moves UCA to 2-0 in the series against the Privateers, who have yet to record a conference win in 24 games since joining the Southland last season. UNO makes the return trip to the Farris Center on Feb. 7.  In a tightly-contested game in which the teams were separated by five points or less for more than 37 minutes, the Sugar Bears (10-8, 3-3 Southland) were able to keep the Privateers (2-13, 0-6) at bay in the final minutes by converting free throws and stifling the UNO offense on every crucial possession down the stretch, not allowing a basket until an inconsequential layup with two seconds left. – Return to top – The Privateers briefly threatened and appeared to have swung momentum on an Octavia Wilson steal with 1:32 remaining and UNO down by three. However, Kelsey McClure answered just a few seconds later by jumping into the passing lane to intercept a UNO pass, then pushed the ball down the floor, dishing to Kendara Watts for a layup to push the lead to five with 1:20 to go.  Lee missed most of the first half with foul trouble, but enjoyed a quick start to the second half. Lee scored the Lady Demons’ first six points of the second half, including a baseline jumper at the 18:30 mark that made her the 26th member of the 1,000-point club at Northwestern State. Central Arkansas 53, New Orleans 46NEW ORLEANS, La. — Central Arkansas was 10 for 12 from the free throw line in the 2nd half, including knocking down six in the final 45 seconds, as the Sugar Bears pulled away late from New Orleans for a 53-46 win at Lakefront Arena to snap a three-game losing streak. Northwestern State 74, Nicholls 71Central Arkansas 53, New Orleans 46 The Privateers cut it to three once again after a pair of free throws, but UNO then began intentionally fouling the Sugar Bears to send them to the line with 46 seconds left. From there, UCA closed it out by making its next five from the line, with Brianna Mullins hitting four in a row and McClure knocking down the first of two. last_img read more

Breaking: Gardai raid house and find drugs and large amount of cash

first_imgGardai have raided a drugs house and seized a quantity of controlled substances and a large amount of cash.The raid was made this afternoon on a property in the Ramelton area.Among the substances seized was Heroin, Lysergic Acid Diethylamide (LSD), MDMA (Ecstasy) and cannabis resin. A cannabis grow-house was also found on the property.One man was arrested during the raid and has been taken to Letterkenny Garda station for questioning.Gardaí said they would like to thank the local community for their assistance and would also like to remind people if they observe suspicious activity in their community to report it to the local Gardaí.Breaking: Gardai raid house and find drugs and large amount of cash was last modified: October 22nd, 2018 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:cashdonegaldrugsGardairaidRameltonlast_img read more

Top Search Terms on Twitter Since July 2008: Sleep.fm, Ezinearticles, and GaryVee

first_imgA Web Developer’s New Best Friend is the AI Wai… Twitter users clearly love the social alarm clock Sleep.fm, the Vaynerchukbrothers, Chris Knight, and ezinearticles. At least, according to search analytics firm Compete, which aggregated the top search terms since Twitter acquired Summize in July 2008, these are some of the top searches that users performed on the popular microblogging service.Besides the terms mentioned above, the top ten is rounded out by searches for Barack Obama, the iPhone, AJ Vaynerchuk’s PleaseDressMe, music site TheSixtyOne, and FollowFriday. Tags:#news#Statistics#web 8 Best WordPress Hosting Solutions on the Market Top Reasons to Go With Managed WordPress Hosting Related Posts Why Tech Companies Need Simpler Terms of Servic… frederic lardinois Some of these search terms are no surprise – but it is definitely interesting that more people searched for the Vaynerchuk brothers than for ‘obama.’ Compete’s Becky Blitzenhofer argues that all of these brands and users used “Twitter aggressively as part of their marketing strategy” – and apparently, this popularity translates into search activity as well (but then, Obama also used Twitter quite aggressively during his election campaign). It should be noted that this data spans over half a year, so it purposely ignores short-term trends and instead features those search terms that users have consistently searched for over a long period of time. Still, we are somewhat perplexed by some of the terms that appear on this top ten list. Twitter is slowly integrating the search function deeper into the core of its service. Among other things, it is slowly rolling out a new version of its user profiles, which features a search box (some users already have access to this). These new homepages also feature a prominent link to the top ten trending topics on the service. According to Compete’s data, traffic on search.twitter.com kept lagging behind the growth curve of Twitter itself, but given that Twitter never really promoted search.twitter.com, this is really no surprise and we will probably see a major uptick in usage now that Twitter is integrating search into the user profiles.last_img read more

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