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Compliance: Regulators update CECL FAQ document

first_img continue reading » The NCUA, along with other federal financial regulators, has posted a frequently asked questions (FAQ) document on the current expected credit loss (CECL) standard. CUNA has called on NCUA to provide credit unions with resources on CECL, which is a new accounting standard for estimating allowances for credit losses.CECL will apply to all credit unions, banks, savings associations and financial institution holding companies for which the reporting requirements conform to U.S. generally accepted accounting principles (GAAP).The notice makes clear that until CECL becomes effective, credit unions (and other institutions) must continue to follow current U.S. GAAP on impairment and the allowance for loan and lease losses (ALLL).  Existing ALLL policy statements and guidance will not be rescinded until CECL is effective for all institutions. ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Gold Coast mega mansion sells for $3.9 million

first_img55-57 Charolais Cres, Benowa has sold for $3.9 million.ONE of Benowa’s “most iconic” homes has sold for $3.9 million.Five potential buyers battled it out with multiple offers on the property at 55-57 Charolais Cres. 55-57 Charolais Cres, Benowa. From the front, privacy and security is evident with twin electric gates welcoming you inside.There you will drive down the tiled driveway to the port cochere.Step inside and you are met with Hamptons inspiration with polished marble floor tiles and white plantation timber shutters. 55-57 Charolais Cres, Benowa. Boating enthusiasts won’t be disappointed either with a pontoon including jetski dock, boat ramp and boat shed.The 2302sq m waterfront block features a Hamptons-inspired home with all the extras expected of a luxury property. 55-57 Charolais Cres, Benowa. The kitchen and family rooms open via bi-fold doors to an alfresco lounging area, built-in barbecue and waterfront terrace.Kollosche Prestige Agents principal Michael Kollosche handled the sale. 55-57 Charolais Cres, Benowa. Property records show the house hit the market in April at $4.15 million before the listing price dropped to $3.95 million and then $3.75 million.The mansion, complete with its own tennis court, pontoon, boat shed, pool and wine tasting room, spares no expenses to provide an enviable lifestyle.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North4 hours ago02:37International architect Desmond Brooks selling luxury beach villa1 day agolast_img read more

Entertainment king Billy Cross lists main river mansion

first_img MORE: Top 10 most viewed Gold Coast houses The luxury residence on Monaco Street, Broadbeach Waters is on the market.The luxurious family home of entertainment entrepreneur and former nightclub king Billy Cross and wife Jackie has hit the Gold Coast market.Located on the prestigious Monaco Street strip, the stunning Broadbeach Waters residence occupies a 2531 sqm parcel fronting the Nerang River. The interior styling is both modern and elegant. Outside amenities include a pool and tennis court.Kollosche principal Michael Kollosche is leading the expressions of interest campaign on the inner city estate, which is on the market for the first time in over a decade.Set over two levels, the elegant five bedroom residence boasts a 2000-bottle wine cellar, a gym with steam room and an up-market “man cave”, while outside a tennis court and pool overlook the water. Billy and Jackie Cross are planning a move to Main Beach. More from news02:37International architect Desmond Brooks selling luxury beach villa7 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag1 day agoVideo Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow much do I need to retire?00:58 Floor to ceiling windows allow the light to shine in.Cross went on to run a string of nightclubs in Surfers Paradise and Las Vegas, where his Thunder from Down Under show has been a roaring success. The Cross family has confirmed plans to move to Main Beach where they’ve signed up for the penthouse in White, a 32-floor tower to be built on Woodroffe Ave. How COVID has changed spring buyer wishlists Records show the property was purchased in the Jackie Cross name for $3.561 million in 2009 and has since been home to the couple and their two sons.Billy Cross shot to fame in the 1980s as the founding member of hit male stage show Manpower. Burleigh Waters sale record under threat last_img read more

Hummer platform deck set for transport to Gulf of Mexico

first_imgA platform deck for the Castex Energy-operated Hummer gas/oil field development, located in the U.S. Gulf of Mexico, has been completed.Pestec, a partner in the project, said on Tuesday that the deck with oil and gas production facilities was loaded onto a barge and was ready for transport to site.A four pile deck was acquired for this purpose and has been modified to accommodate the current production facilities and for future expansion.The company added that the deck would be set onto a platform jacket seated over the Main Pass 270 #3 BP 1 discovery well, initially drilled in 2015. According to Pestec, first production is targeted for mid to late November.First production from the Hummer field development in the U.S. Gulf of Mexico was planned for late third quarter 2017/early October 2017 but was delayed due to recent harsh weather conditions in the region.The Hummer field extends over Main Pass Blocks 270, 273, and 274 in the Gulf of Mexico, offshore Louisiana. The Main Pass 270 #3 BP 1 well was located in U.S. federal waters approximately 50 miles southeast of Venice, Louisiana. The water depth at the location is approximately 215 feet. The well was drilled, logged and temporarily suspended in late 2015.A platform jacket was installed over the well, the well was completed, and production tested in late 2016. Test rates recorded over the last three hours of the test period averaged 19.88 MMcfpd and 396 bopd on a 16/64-inch choke with a flowing well head pressure of 9,753 psi.Pestec said that the production test on the well was suspended pending installation of the deck, production facilities, and pipelines.A turnkey contract was awarded in January 2017 for the design, engineering, modification, and fabrication of production facilities. The deal also included installation of the platform deck onto the installed jacket for the Hummer Main Pass Block 270 “B” production platform and the planning, installation, and hook-up of the pipelines connecting the platform to gas and oil sales pipelines.last_img read more

Public Safety Income Tax allocation under debate, input sought

first_imgBrookville, IN—A public hearing on the Public Safety Income Tax rate will be held on June 25 during the next council meeting.  While approximately $1 million is collected each year, only $300, 000 from this tax are used to fund Franklin County EMS and for countywide dispatch referred to as “Public Safety Access Point.”  This year, so far, $30,000 was split between the six volunteer fire departments.  Any remaining monies are divided between the county and the towns.To contact your council member click here.last_img read more

Scudamore contrite about emails

first_img Scudamore has vowed to hold a series of meetings across football’s administration to reassure them of his commitment to promote women in the game. A meeting of all the Premier League clubs was called at short notice on Sunday night to bring the case to a conclusion after pressure on Scudamore intensified during last week. The case caused a storm of criticism of Scudamore and it is to be discussed by the Football Association’s inclusion advisory board on Tuesday. Initially, the Premier League’s audit and remuneration committee had been lined up to discuss the case, but on Sunday night a decision was taken to call a specially-convened meeting of all member clubs for Monday afternoon. McCormick’s statement said: “In these circumstances, and in the light of a previously unblemished record over 15 years of service to the Premier League, the clubs resolved unanimously that no further disciplinary action is required or justified.” He said the investigation had examined numerous emails and other documents, including those copied by Abraham, and that there was “no evidence of wider discriminatory attitudes or inappropriate language or a general attitude of disrespect to women”. Women who work at the Premier League were also consulted, said McCormick, which established “that there is no climate of disrespect of women in the workplace”. He added: “This view is particularly strongly held by female staff with direct experience of working with or close to the chief executive who have made it very clear that his conduct and behaviour have been beyond reproach.” Premier League chief executive Richard Scudamore has spoken of his “sincere contrition” after the top-flight clubs decided against any further disciplinary action against him for sending sexist emails. The meeting in London decided against any action after hearing that the emails “did include some inappropriate remarks” but that he had apologised. Afterwards, Scudamore said: “Entering into email exchanges of this nature was wrong and the apology I have made is sincere, as is the contrition I feel. These exchanges do not reflect my views towards women in football, the workplace or in general. It is something that will never be repeated. “I appreciate that I have a tremendous amount of hard work to do to convince those in the game who do not know me that my leadership and work in the areas of equality and discrimination to date reflect who I am and what I believe. “So, I will now undertake meetings and discussions with a wide range of stakeholders in the game to hear their views and to reassure them that I will continue to do my utmost personally, and through all the Premier League’s means to help promote diversity and inclusion, develop the women’s game and support women who want be involved in football at any level.” Premier League acting chairman Peter McCormick said he had conducted an investigation into the matter in conjunction with specially-appointed external legal advisors and that the clubs accepted Scudamore’s “genuine and sincere apology”. McCormick said a female senior executive at the Premier League referred to in the emails had been copied in the exchanges and has confirmed that she “was not then and is not now offended by the references”. The emails – which referred to women in a derogatory terms, contained sexual innuendoes, and made jokes about “female irrationality” – were leaked by Scudamore’s former temporary personal assistant, Rani Abraham, to the Sunday Mirror. McCormick said she “was not exposed to them in the course of her duties but had to search for them in a private email account which she was not authorised to access”. Press Associationlast_img read more

Authorities search for former mall employee who killed manager

first_imgEverett is described as 6′7 with a short or bald cut and may be traveling in a 2012 silver Kia Sorento with Florida plates IH21AC.Everett is considered armed and dangerous. If you have any information about his whereabouts you are asked to contact your local police station. The Orlando Police Department is currently searching for a former store manager who killed another manager after he was fired.The incident was reported on Monday just after 8:00 pm inside of the Under Armour store at the Orlando International Premium Outlets.Officials say 46-year-old Daniel Everett walked into the store and opened fire killing 37-year-old manager Eunice Vazquez as several customers watched.He then fled the scene.When authorities arrived, they pronounced Vazquez dead.During their investigation, authorities found that Everett also made a list of names he planned to target.Officials say they believe Everett planned to target the people on the list because he believed they made complaints about him and caused him to lose his job.As of Monday night, authorities say they have made contact with all of those on the list and marked them as safe, however, Everett is still on the run.ARMED and DANGEROUS: Daniel Everett is the suspect in the Under Armour homicide on 2/10/20. Please call 9-1-1 if you see him.— Orlando Police (@OrlandoPolice) February 11, 2020last_img read more

Mumbai to play Chennai as IPL 2020 opens

first_imgThe Mumbai Indians will begin their IPL title defence against the team they took the trophy away from last season – the Chennai Super Kings – on September 19 in Abu Dhabi, at 6pm local time (7.30pm IST). The IPL schedule was finally made public on Sunday, just under two weeks off from the start of the competition, and features ten double-header days.The schedule has been released only for the round-robin stage of the tournament. In all, Abu Dhabi will host 20 round-robin games, Dubai 24 and Sharjah 12.Mumbai and the Kolkata Knight Riders will play a majority of their games (eight each) in Abu Dhabi. The Sunrisers Hyderabad will play eight of their games in Dubai, while the Super Kings, the Kings XI Punjab, the Delhi Capitals and the Royal Challengers Bangalore will play seven each in Dubai. Only the Rajasthan Royals’ matches are more spread out – they play six in in Dubai, five in Abu Dhabi, and three in Sharjah.The England-Australia player questionThe Royals and the Knight Riders will be the last teams to play their first matches and that could be due to the late arrival of a handful of their key players from the limited-overs series between England and Australia in England, which ends on September 16.While Steven Smith, Jos Buttler, Jofra Archer and Tom Curran are part of the Royals’ squad, Eoin Morgan, Pat Cummins and Tom Banton are part of the Knight Riders’. Although IPL rules make it mandatory for every participant to undergo a six-day quarantine upon arrival in the UAE, and Abu Dhabi’s requirements extend that to 14 days, it has been said that those coming from the England-Australia series could be allowed exemptions given they would be travelling straight from one biosecure bubble into another, but this remains to be confirmed.Double-headers only in OctoberThe double-headers begin on October 3. October is typically when temperatures – which, as expected, are consistently breaching 40-degree Celsius during the day-time at present – begin to come down in the region. There had been talk earlier of teams not being happy to play games beginning at 2pm in these temperatures, and that could be a reason why the double-headers begin only later in the tournament.Mumbai start and finish, CSK have least prep timeMumbai and the Super Kings are the IPL’s most successful franchises – with four and three titles respectively – and form its most prominent rivalry; no team has beaten the Super Kings as many times as Mumbai, who have a 17-11 record against them including a last-ball one-run win in last season’s final. Mumbai also bring the round-robin stage of the league to a close, pitted against the Sunrisers on November 3 in Sharjah.After the BCCI was forced to move the tournament out of India owing to massive upsurge in the Covid-19 cases in the country, all eight franchises landed in the UAE nearly a month before the tournament. In terms of preparation in the UAE, the Super Kings have been the last off the blocks because of several members of their contingent – including two players – testing positive. The team commenced training only on September 4, roughly one week after the other franchises.The Covid-19 effect: Disclaimer over schedule, doubts over spectatorsThe IPL put in a disclaimer on the schedule, saying it is “subject to change for any reason” deemed fit by by the BCCI. The clause suggests the IPL is wary of a situation wherein a team(s) is/are affected by the Covid-19 pandemic.The schedule was expected much earlier, but delays happened as the IPL Governing Council considered a number of different parameters forced by the pandemic. The Super Kings’ issues aside, the strict quarantine rules in Abu Dhabi are believed to have contributed to the hold up.There has been no confirmation yet from the IPL on whether spectators will be allowed to attend the games – and there was no mention of it in the statement announcing the schedule either. BCCI president Sourav Ganguly had said it will happen later in the tournament, but there remains doubt over this especially given the upsurge in Covid-19 cases in the UAE over the last fortnight.last_img read more

Anthony Joshua, Tyson Fury Super-fight Set for April Next Year

first_imgFury was seven stone overweight and will not be AJ‘s next victim – especially with Klitschko pushing for a rematch – but he claims his current training camp is working.And that is music to the ears of Joshua’s matchmaker Eddie Hearn, who can’t wait to return to the 90,000 Wembley stadium for another massive event.Hearn told UK’s the Mail: “There is nothing I or AJ would want more than to see Tyson back in the ring. But it won’t be next. Tyson just won’t be ready.“Physically he is not at the races and he has a lot to resolve in terms of his doping hearing and getting his licence back.“As it stands, I think the best chance of a Fury fight is April 2018, at Wembley. That depends on a successful defence in October or November.“Rest assured, if we can make it happen, we will make it happen.“I believe Wladimir is keen (to do the rematch). If he is then it is a sequel people would definitely want to see.“I’m sure Wlad believes he nearly had AJ out of there and I know that AJ wants to iron out some mistakes and do a better job next time.”Fury is in Marbella training – and acting up – with fellow traveller and middleweight world champion Billy Joe Saunders, who defends his title in July.The 28-year-old has insisted he is finally on the comeback trail and he is working on getting his boxing licence back from the British Boxing Board of Control.If he succeeds then his promoter, Frank Warren, wants a tune-up fight on that card with a view to having his man ready for that April super-fight.Warren said: “Tyson’s training with Saunders – we want him to fight on that card, and he wants to fight on that card. If he gets an all-clear he’ll fight on that show.“Why shouldn’t the BBBC give him his licence? If he’s mentally and physically able to box there’s no reason they shouldn’t allow him to box. He’s been having treatment.”Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram Anthony Joshua could get his long-awaited grudge match with Tyson Fury in April 2018 with the promoters of both fighters already teeing up the showdown.Seconds after AJ’s thrilling 11th-round win over future hall-of-famer Vladimir Klitschko, the new heavyweight king called out the former champ.last_img read more

Cycling Federation Splashes N17m on Track Bikes

first_imgAFRICA CHAMPIONSHIPOlawale Ajimotokan in AbujaThe Cycling Federation of Nigeria (CFN) has taken delivery of 40 track cycles acquired at the cost of Euros 42,000  (N17.1 million) ahead of the  Africa Track Cycling Championship  (Africa Cup) slated for the Velodrome at the Moshood Abiola Stadium, Abuja. THISDAY checks revealed that the amount included the unit cost of the bikes which the federation purchased in three batches of 11 bikes from Spain, Italy and Bulgaria in addition to the freighting and clearing charges at the port.It became imperative for the Nigerian federation’s to acquire the cycles after it became obvious that the World Cycling body, the International Cycling Union (UCI)/was no longer forthcoming with its earlier promise to support the championship with high calibre track bikes.And with little or no financial support also coming from government, CFN President Giadomenico Massari said the federation is working with the stadium management to upgrade and maintain a large section of the Velodrome that has not been put to use since its construction about 16 years ago.“As part of the preparation we are working with the stadium management to update some of the facilities at the Velodrome. Most of the offices and conference rooms have not been in use since the facility was constructed in 2003. We need to wash the tracks, cut grass that has taken over part of facility and maintain the lighting equipment. Lights have been fairly stable for sometime now but we cannot be sure, so we are working with the stadium management on the possible use of the standby generators during the competition,” disclosed Massari.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more