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  • MIL-OSI Global: Debates over presidential power to suspend habeas corpus resurface in Trump administration

    Source: The Conversation – USA – By Brooks D. Simpson, Foundation Professor of History, Arizona State University

    There’s a conflict brewing over the rights of the arrested and detained; it’s not a new conflict. busra İspir, iStock/Getty Images Plus

    The principle of habeas corpus, a legal phrase, is a simple one: Translated from the Latin as “produce the body,” it provides that a judge may compel prosecutors to supply evidence to determine whether someone has been legally detained or arrested.

    In the U.S., a detained or arrested individual, or their legal representative, may ask a judge to decide based on the evidence presented whether the detainee has been legally confined. That process is termed “seeking a writ.”

    Suspending the privilege of the writ, also known as “suspending the writ,” denies that individual or their representation from making that request or a judge from honoring it. The “privilege” in that phrase is a right of the accused.

    In the past few months, members of the Trump administration have raised the issue of the president’s power to suspend the privilege of habeas corpus.

    White House Deputy Chief of Staff Stephen Miller in May 2025 shared with the media the news that administration officials were exploring the possibility of suspending the privilege of the writ to help the administration deport immigrants quickly.

    Eleven days later, Secretary of Homeland Security Kristi Noem declared at a congressional hearing that habeas corpus “is a constitutional right that the president has to be able to remove people from this country,” a misunderstanding of this foundational legal right immediately challenged by New Hampshire Senator Maggie Hassan.

    Article I of the U.S. Constitution declares that “the Privilege of the Writ of Habeas Corpus shall not be suspended, unless when in Cases of Rebellion or Invasion the public Safety may require it.” Suspension is thus a grave and serious matter.

    This is not the first time that Americans have debated which branch of government – the executive branch or Congress – has the power to suspend the privilege of the writ and under what circumstances it may do so.

    Sen. Maggie Hassan asks Homeland Security Secretary Kristi Noem to define habeas corpus; Noem can’t.

    Lincoln and the Great Writ

    Habeas corpus became a major point of controversy during the Civil War, when President Abraham Lincoln suspended the privilege of the writ, first in parts of Maryland and later throughout the nation, without seeking prior congressional approval.

    While the Constitution provides for the suspension of the writ, the document is silent as to who has the power to exercise this authority. Although most of this section of the Constitution concerns the powers of Congress, it also addresses the power and authority of other branches in specific instances. And the use of the passive voice – “shall not be suspended” – in this section leaves the question of who can suspend the writ open to interpretation.

    The questions of who may suspend the privilege of the writ and under what circumstances emerged in the spring of 1861.

    On April 12, Confederate forces fired on U.S.-controlled Fort Sumter in Charleston Harbor, South Carolina, an act that is considered the formal start of the war. A week later, Marylanders supporting secession clashed with militia from Massachusetts and Pennsylvania who were making their way through Baltimore to defend Washington.

    Lincoln refused to honor requests from Maryland Governor Thomas Hicks and Baltimore Mayor George Brown to avoid transporting reinforcements through Baltimore. The president initially tried to skirt any conflict by routing the reinforcements through Annapolis.

    This proved a stopgap measure. On April 27, Lincoln authorized General Winfield Scott, commanding general of the U.S. Army, to suspend the privilege of the writ between Philadelphia and Washington, if necessary. This would permit arbitrary arrests and detaining of people determined to be acting in support of the insurrection.

    Taney challenges Lincoln

    To protect national security, U.S. military authorities arrested John Merryman on May 25, 1861. Merryman, who was from Baltimore, was suspected of involvement in destroying railroad bridges to obstruct Union troop movements.

    Chief Justice Roger B. Taney honored a request from Merryman’s lawyers to issue a writ of habeas corpus, only to have federal military authorities refuse to produce Merryman, who remained at his cell in Fort McHenry.

    Taney then ruled that neither Lincoln nor military personnel under his command could suspend the privilege of the writ when it came to civilians such as Merryman.

    “If at any time the public safety should require the suspension of the powers vested by this act in the courts of the United States, it is for the Legislature to say so,” wrote Taney, quoting an 1807 opinion by Chief Justice John Marshall.

    Days later, on June 1, Taney offered a more extended decision reflecting his reasoning that Congress, not the president, could suspend the privilege of the writ.

    Taney was challenging the president’s authority to act unilaterally.

    Lincoln ignored Taney’s ruling. He reasoned that in time of emergency, especially with Congress not in session, he – as president – was compelled to act in the interests of national security. He did so to protect the movement of troops through Maryland to defend the national capital.

    Not only did Lincoln’s order remain in place, but the president later expanded its geographic scope in several instances, most notably in September 1862. On the heels of issuing the preliminary Emancipation Proclamation, Lincoln authorized the detention of individuals accused of obstructing efforts to raise troops or who sought to support the rebellion.

    Unwilling to concede that Lincoln’s actions need not seek congressional approval, Congress, first in 1861, then through the Habeas Corpus Act of 1863 offered retroactive sanction of the actions of the executive branch and, in 1863, empowered Lincoln to suspend the privilege of the writ in the future in the interests of national security for the duration of the rebellion.

    Democrats, however, criticized Lincoln’s actions as arbitrary, unconstitutional and smacking of tyranny.

    President Abraham Lincoln’s 1862 proclamation suspending the use of habeas corpus.
    Mississippi State University

    Executive overreach?

    Almost a decade later, in 1871, President Ulysses S. Grant declined to act on his own to suspend the privilege of the writ to prosecute white supremacist terrorists in the Reconstruction South, requiring that Congress first pass legislation authorizing him to do so.

    Since the Civil War, only once has a president unilaterally suspended the privilege of the writ without prior congressional authorization. That’s what President Franklin D. Roosevelt did in Hawaii after the attack on Pearl Harbor in 1941, in order to combat any suspicious activity that might be construed as espionage.

    With Congress currently in session, lawmakers could authorize the president to suspend the privilege of the writ to set aside debates over executive overreach. Otherwise, presidents might define as emergencies situations that do not meet the extreme circumstances envisioned by the Constitution while sidestepping congressional approval.

    Brooks D. Simpson does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Debates over presidential power to suspend habeas corpus resurface in Trump administration – https://theconversation.com/debates-over-presidential-power-to-suspend-habeas-corpus-resurface-in-trump-administration-257195

    MIL OSI – Global Reports –

  • MIL-OSI Global: Was the Boulder attack terrorism or a hate crime? 2 experts unpack the complexities

    Source: The Conversation – USA – By Frederic Lemieux, Professor of the Practice and Faculty Director of the Master’s in Applied Intelligence, Georgetown University

    A woman places flowers outside the Boulder, Colo., courthouse after an attack that injured 12 people. David Zalubowski/AP Photo

    Twelve people in Boulder, Colorado, were injured by a man wielding a makeshift flamethrower and Molotov cocktails on June 1, 2025. Those burned in the attack were taking part in a peaceful, silent walk on Pearl Street, a pedestrian mall, with the aim of raising awareness about Israeli hostages held by Hamas in Gaza.

    The suspect, Mohamed Sabry Soliman, 45, yelled, “Free Palestine,” according to local news reports. Soliman is an Egyptian immigrant who was living in the U.S. illegally after his tourist visa and work authorization both expired.

    On June 3, Soliman’s family, who lived with him in Colorado Springs, were detained by federal immigration authorities. Soliman’s wife and five children were placed in expedited removal proceedings.

    The FBI and local authorities initially said they were investigating a “targeted terror attack”. But Soliman was later charged with hate crimes in federal court. He also faces attempted murder and other charges in state court.

    We study terrorism and hate crimes.

    Whether an attack like the one in Boulder is considered an act of terrorism or a hate crime changes the way a suspect is charged and sentenced.

    Let’s look at how these two terms differ.

    What is a hate crime?

    Hate crimes are crimes motivated by bias on the basis of race, religion, sexual orientation or ethnicity. In some states, gender, age and gender identity are also included. Hate crime laws have been passed by 47 states and the federal government since the 1980s, when activists first began to press state legislatures to recognize the role of bias in violence against minority groups. Today, only Arkansas, South Carolina and Wyoming do not have hate crime laws.

    Colorado’s 2024 statute prohibits bias-motivated attacks based on a wide variety of categories, from ancestry to gender identity.

    In order to be charged as a hate crime, attacks – whether vandalism, assault or killings – must be directed at individuals because of the prohibited biases. Hate crimes, in other words, punish motive; the prosecutor must convince the judge or jury that the victim was targeted because of their race, religion, sexual orientation or other protected characteristic.

    If the defendant is found to have acted with bias motivation, hate crimes often add an additional penalty to the underlying charge. Charging people with a hate crime, then, presents additional layers of complexity to what may otherwise be a straightforward case for prosecutors. Bias motivation can be hard to prove, and prosecutors can be reluctant to take cases that they may not win in court.

    Dylann Roof, who killed nine worshipers at a Black church in South Carolina in 2015, was convicted of 33 charges, including hate crimes.
    Grace Beahm-Pool/Getty Images

    What is terrorism?

    Terrorism is a violent tactic – a strategy used to achieve a specific end.

    This strategy is often used in asymmetric power struggles when a weaker person, or group, is fighting against a powerful nation-state. The violence is aimed at creating fear in the targeted population.

    Terrorists often justify their bloody acts on the basis of perceived social, economic and political unfairness. Or they take inspiration from religious beliefs or spiritual principles.

    Many forms of terrorism were inspired by struggle between races, the rich and poor, or political outcasts and elites.

    How different terrorist groups act is informed by what they are trying to achieve. Some adopt a reactionary perspective aimed at stopping or resisting social, economic and political changes. Others adopt a revolutionary doctrine and want to provoke change.

    In the United States, terrorism attacks were in sharp decline from 1970 to 2011, decreasing from approximately 475 incidents a year to fewer than 20.

    The U.S. government began to take more note of domestic terrorism after the Oklahoma City bombing in 1995. And the number of domestic terrorism incidents began to rise after 2011, with notable increases in the mid-to-late 2010s and early 2020s.

    Data compiled by the Center for Strategic and International Studies shows right-wing terrorist attacks and plots grew substantially during the past decade, with right-wing extremists being responsible for the majority of attacks and plots each year since 2011, except for 2013. There were 44 incidents in 2019 alone.

    The Department of Homeland Security’s 2025 Homeland Threat Assessment indicates that the terrorism threat environment in the United States remains high, driven largely by domestic violent extremists motivated by a mix of racial, religious and anti-government grievances.

    Terrorism is not a successful tactic. American University professor Audrey Cronin studied 457 terrorist groups worldwide going back to 1968. The groups lasted an average of eight years before they lost support or were dismantled. No terrorist organizations that she studied were able to conquer a state, and 94% were unable to achieve even one of their strategic goals.

    Portions of this article originally appeared in articles published on March 19, 2021, and May 23, 2017.

    Read more of our stories about Colorado.

    The authors do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. Was the Boulder attack terrorism or a hate crime? 2 experts unpack the complexities – https://theconversation.com/was-the-boulder-attack-terrorism-or-a-hate-crime-2-experts-unpack-the-complexities-258217

    MIL OSI – Global Reports –

  • Northeast India’s social and cultural transformation strengthens national integration

    Source: Government of India

    Source: Government of India (4)

    Northeast India is undergoing a profound social and cultural renaissance, emerging as a model of inclusive development and heritage preservation, as outlined in a recent Press Information Bureau release. Prime Minister Narendra Modi’s vision of the Northeast as “Ashta Lakshmi” underscores its diverse strengths, with the Ministry of Development of North Eastern Region (MDoNER) spearheading initiatives to integrate the region into India’s mainstream.

    Social development milestones are reshaping the region. On May 20, 2025, Mizoram achieved full functional literacy, becoming India’s first fully literate state through the ULLAS – Nav Bharat Saaksharta Karyakram. Building on its 91.33% literacy rate from the 2011 Census, this historic achievement marks a significant step in educational progress. In healthcare, Assam is establishing South Asia’s largest cancer care network, with eight hospitals already operational in districts like Dibrugarh and Kokrajhar, and seven more under construction in areas such as Nagaon and Tinsukia. Additionally, 15 new medical colleges are being set up in Assam to enhance healthcare access.

    Cultural preservation is a cornerstone of the Northeast’s transformation. In July 2024, Assam’s Moidams, the mound-burial system of the Ahom Dynasty, were inscribed on the UNESCO World Heritage List, celebrating 600 years of Tai-Ahom heritage. Sivasagar is being developed as an iconic site with an on-site museum, while a tribal freedom fighter museum honoring Rani Gaidinliu has been established in Manipur. The 400th birth anniversary of Lachit Borphukan, the Ahom general who defeated the Mughals in the 1671 Battle of Saraighat, was commemorated in 2022, highlighting unsung heroes. The North Eastern Handicrafts & Handlooms Development Corporation Limited (NEHHDC) is revitalizing traditional crafts through the Purbashree e-commerce portal, a textile testing laboratory, and “Purbashree On Wheels.”

    The Ashtalakshmi Mahotsav, held from December 6-8, 2024, showcased the region’s textiles, GI-tagged products, and crafts, featuring Eri and Muga silk and attracting Rs 2,500 crore in project proposals. An Eri Silk Spinning Plant in Mushalpur, Assam, with a 200 kg/day capacity, has provided direct employment to 375 individuals and indirect livelihoods to 2,500 households, supported by a digital traceability network for 10,000 weavers across seven states.

    Peace and security initiatives have created a stable foundation for these advancements. Nine peace accords since 2014, including the 2020 Bodo Peace Accord and the 2023 DNLA Peace Agreement, have significantly reduced violence and resolved inter-state disputes, such as the Assam-Arunachal Pradesh boundary agreement. The North Eastern Region District SDG Index, developed with NITI Aayog and UNDP-India, ranks 103 districts on social, economic, and environmental parameters, guiding policy implementation.

    By blending social progress with cultural preservation, the Northeast is not only catching up with the rest of India but also setting a global example of sustainable and inclusive development, driven by flagship initiatives like NESIDS and PM-DevINE.

  • MIL-OSI United Kingdom: Timetable for district’s planning blueprint set to be tweaked

    Source: City of Canterbury

    Home  »  Latest News   »   Timetable for district’s planning blueprint set to be tweaked

    Canterbury City Council’s draft Local Plan – its blueprint for new homes, new infrastructure such as better buses and schools and extra land for jobs – will be submitted to the government in autumn 2026 if a new timetable is approved.

    The council’s Cabinet will be asked to give the greenlight to the new timetable, known as the Local Development Scheme, at its meeting on Monday 16 June – read the report.

    The original intention was to submit the draft plan to the Secretary of State in spring of next year but a number of factors have conspired to mean a slight delay is needed.

    They include the fact:

    • the government confirmed its new rules around planning, known as the National Planning Policy Framework (NPPF) in December resulting in an increased target of 1,216 new homes each year as opposed to 1,149
    • the government also extended its deadline for Local Plans to be completed
    • the council carried out an exercise, called a Call For Sites, encouraging the owners of brownfield land to come forward
    • council officers have been analysing the thousands of comments received from the previous Regulation 18 consultation
    • officers have continued to gather and work through comments and technical evidence from key players in the process

    The new timetable proposes:

    • September 2025 – a further, focused, consultation under Regulation 18 on a limited number of new or amended policies. This will be the fifth consultation to inform the new Local Plan
    • Spring 2026 – publication of the final draft under Regulation 19 which sparks a final consultation on the soundness of the plan with the comments being sent directly to a government-appointed planning inspector
    • From Autumn 2026 – an Examination In Person overseen by a government-appointed planning inspector who will scrutinise the draft plan and listen to evidence presented by those in favour or opposed to it
    • Winter 2027 – adoption by the council having taken on board the changes instructed by the planning inspector

    Leader of the Council, Cllr Alan Baldock: “When it comes to a document that is so important to the district and one that is so complicated, there are always huge numbers of moving parts that are all dependent on each other.

    “We are determined that people get the desperately-needed homes they deserve as quickly as possible while at the same time being meticulous when considering everyone’s views and looking at the evidence.

    “This relatively short delay will give us more time to work through the challenges and present the best possible plan we can while having the right evidence to hand when we need to make the inevitably tough decisions we will be faced with.”

    Published: 6 June 2025

    MIL OSI United Kingdom –

  • MIL-OSI USA: Rep. Jimmy Gomez Statement on ICE Detaining Families in Basement of LA Federal Building

    Source: United States House of Representatives – Congressman Jimmy Gomez (CA-34)

    LOS ANGELES, CA – Representative Jimmy Gomez (CA-34) issued the following statement in response to disturbing reports that immigrants showing up for routine check-ins with Immigration and Customs Enforcement (ICE) in Los Angeles were detained and held in basement rooms — some overnight — under inhumane conditions:

    “These are very disturbing reports from LA’s Roybal Federal Building. Law-abiding asylum seekers — many with kids — are being detained after showing up for routine ICE check-ins. No food. No water. Locked in holding rooms for over 12 to 24 hours.

    “These are not criminals. These are families who followed the rules. Filed the paperwork. Showed up on time. Instead, they’re being treated like they broke the law just for seeking asylum.

    “One attorney reports her client was held without food or water from 2pm through the next day. His wife and 2 kids waited 12+ hours with nothing. No water. No explanation.

    “Overcrowding is so bad that women and children are being forced to sleep outside in tents. Meanwhile, the lights in the building shut off at 5pm. Families are sitting in pitch black.

    “A 20-year-old woman is being held alone. Her mother was detained in transit. They’ve been checking in with ICE for years. Their asylum process was legal and based on abuse. They were days from a court date. Now—they’re detained, separated, and with their future in limbo.

    “According to attorneys on site, ICE claims it can detain people indefinitely even if they have a legal stay. That means even if a court says they can’t be deported, ICE keeps them locked up anyway.

    “This isn’t ‘just how the system works.’ This is a system breaking people. Bureaucracy weaponized against those who complied.

    “DHS—I demand to go in to get answers. We need to know why law-abiding asylum seekers are being detained, separated, and treated like criminals.”

    Rep. Gomez’s district includes downtown LA and the Roybal Federal Building where the detentions occurred. As the son of immigrants, Rep. Jimmy Gomez (CA-34) has been a strong advocate for immigrant families. Rep. Gomez filed an amicus brief earlier this year urging the Court to uphold the 14th Amendment’s guarantee of citizenship. He’s a proud supporter of the Dream and Promise Act of 2025, which would provide a clear path to citizenship for Dreamers, Temporary Protected Status (TPS) holders, and Deferred Enforced Departure (DED) recipients. He has called on the IRS and the Department of Homeland Security (DHS) to immediately halt efforts to misuse confidential taxpayer data for immigration enforcement. He is also leading the effort to reinstate the Citizenship and Assimilation (C&A) Grant Program, which supports organizations that help legal residents become U.S. citizens.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Bowman, Taking a Fresh Look at Supervision and Regulation

    Source: US State of New York Federal Reserve

    It is a pleasure to join you today for my first public remarks as the Federal Reserve Board’s Vice Chair for Supervision.1 Today, I will describe my approach to leading the Fed’s Division of Supervision and Regulation in its vital work to promote the safe and sound operation of the U.S. banking system. I have spoken extensively in the past about my principles for supervision and regulation, which will continue to guide my approach to supervision and the bank regulatory framework.2
    At the core of these principles is pragmatism, which focuses on first identifying the problem to be solved and then developing efficient solutions.3 Once we have identified a need for reform, or a problem to be solved, our next task is to conduct a careful analysis of the intended and unintended consequences of any proposed policy solution, and to consider alternative approaches that lead to lower cost or better outcomes.
    The views I share with you today reflect my initial thoughts about how these principles should be incorporated into the important work that will be required to improve supervision and regulation in the future, addressing: (i) enhancing supervision to more effectively and efficiently meet the Fed’s safety and soundness goals; (ii) reviewing and reforming the capital framework to ensure that it is appropriately designed and calibrated; (iii) reviewing regulations and information collections to ensure that this framework remains viable; and (iv) considering approaches to ensure the applications process is transparent, predictable, and fair.
    Enhancing SupervisionSupervision focused on material financial risks that threaten a bank’s safety and soundness is inherently more effective and efficient. We should be cautious about the temptation to overemphasize or become distracted by relatively less important procedural and documentation shortcomings. Fundamentally, as I’ve noted in the past, our goal should be to prioritize the identification of material financial risks and encourage prompt action to mitigate risks that threaten safety and soundness. There are a number of changes we can adopt in the near term to better enable us to accomplish this goal:
    Tailoring. Risks are not uniform, and each bank is unique based on its business model, complexity, and business profile. I am a long-time proponent of tailoring banking regulations. Going forward we will extend the application of tailoring to our supervisory approach to financial institutions, not only among bank categories, but also within a particular category.
    In the past, the Board has “pushed down” requirements developed for the largest firms to smaller banks, often including regional and community banks. One approach that would preserve tailoring is to create an independent community bank supervisory and regulatory framework to clearly separate these banks from larger bank supervision and regulation. This would serve to insulate these smaller banks from standards designed for larger and more complex firms. While I have no objection to a deliberate, intentional policy to apply similar standards to firms with similar characteristics as conditions warrant, the gradual erosion of distinct regulatory and supervisory standards among firms with very different characteristics—essentially the subtle reversal of tailoring over time—is not a reasonable approach for implementing supervision and regulation.
    Both regulators and legislators should consider whether the bank regulatory framework includes appropriate thresholds for defining distinct categories of institutions, and whether simple fixes—for example the indexing of thresholds to inflation or growth—could better ensure a sound, tailored approach that remains durable over time. It is clear that the current $10 billion threshold defining the upper bounds of a “community bank” leaves many institutions that pursue this business model—of community and relationship-based banking—subject to heightened requirements more suitable for larger and more complex firms.
    To further these objectives, later this year I will host a conference on small and community bank issues, to discuss improving the bank regulatory framework to adopt a more efficient, tailored approach for these firms. We must demonstrate wisdom and courage by carefully listening to those who are subject to regulatory oversight and considering ways to enhance our approaches to both supervision and regulation.
    One issue that continues to present challenges to smaller banks is check fraud. The ongoing increase in bank losses to this type of fraud can negatively impact the perceived safety of the banking system and result in significant consumer harm. Past efforts by regulators have been frustratingly slow to advance and seem to have done little to address the underlying root causes of this increase in fraud. I will continue to work to identify specific actions that can be taken to reduce the incidence of fraud, including through expediting the remediation process from check fraud after it occurs. I expect that the Federal Reserve, in coordination with the OCC and FDIC, will soon take action on this front.
    Ratings. Ratings must reflect risk, and yet we have seen gradual changes in supervisory approaches that have eroded the link between ratings and financial condition.4 Federal Reserve supervisory statistics show that that two-thirds of the largest financial institutions in the U.S. were rated unsatisfactory in the first half of 2024.5 At the same time, the majority of these same institutions met all supervisory expectations for capital and liquidity.
    This odd mismatch between financial condition and supervisory ratings requires careful review and appropriate revisions to our current approach. Under the current large bank ratings framework, a single component rating can result in a firm being considered not “well-managed,” which has driven the disparity between well-managed status and financial condition.
    The Federal Reserve will soon begin to address this mismatch, by proposing changes to the Large Financial Institution ratings framework. The proposed changes will be designed to result in a more sensible approach to determining whether a firm is well-managed, no longer disproportionately weighting a single framework component for a firm that has demonstrated resilience under a range of conditions and stresses.
    This initial change should help address the gap between assessed ratings and material financial risk for those firms subject to this framework. We have an obligation to ensure that our supervisory ratings are current, credible, and reflect material financial risk. This promotes effective supervision and ensures that firms are accurately rated based on their underlying financial strength, which should increase the public’s confidence in our assessment of the banking system.
    We must also consider the appropriateness of the broader ratings framework which applies to smaller institutions, including the CAMELS framework. Are these frameworks appropriately tailored to capture material financial risks, particularly for elements that rely on subjective examiner judgment? While judgment is a legitimate and necessary tool in supervision, it must always be grounded in the materiality of the identified issues as they relate to the financial health of each institution and the banking system as a whole. This has been a notable shift in supervision not only for large banks, but also for regional and community banks.
    Improving prioritization. Examiners review a broad range of activities in the supervisory process. A random sample of examination reports demonstrates that supervisory focus has shifted away from core financial risks (credit risk, interest rate risk, and liquidity risk, for example), to process-related concerns. While process is important for effective management, there is a risk that overemphasis on process and supervisory box-checking can be a distraction from the core purpose of supervision, which is to probe financial condition and financial risk. Checklists should not distract examiners from the central purpose of examinations.
    Another tool that we will be reviewing with a critical lens is the use of horizontal reviews. In theory, horizontal reviews—where examiners conduct a narrow but deep review on a particular topic across multiple banks—can help improve an examiner’s perspective. Horizontal reviews, when used effectively, can help supervisors better understand the range of industry practices.
    But these reviews have quickly evolved into oversimplification of complex issues and often include “grading on a curve,” where firms are rank-ordered, with an expectation that implementing a simpler approach fails to meet expectations, under the assumption that the more complex approach is appropriate for all firms. However, this side-by-side comparison fails to address the only question that matters: whether a firm’s approach meets appropriate legal and supervisory standards for the individual firm’s characteristics. Differences in approaches are not indicative of shortcomings, particularly since these can often be explained by distinguishing the underlying activities, scope and scale of operations, and risk tolerance of the firm’s board and management.
    There is also a lack of transparency in the results of these exams, and a risk that horizontal reviews will create generally applicable rules without complying with the Administrative Procedure Act (APA). I will be looking closely at whether the continued use of horizontal exams going forward is appropriate, and if so, to ensure that these exams are sufficiently transparent, they reflect proper respect for the APA, and do not circumvent our responsibility to provide each regulated institution with a fair, firm-specific evaluation.
    The role of guidance in supervision. Finally, I will discuss the important role of guidance in the supervisory process. Guidance can be an effective tool to promote transparency in supervisory expectations, to provide clarity to regulated institutions on the permissibility of new activities and their associated risks, and to provide firms some perspective on how they may comply with statutory and regulatory requirements. Structured with these goals in mind, guidance can further the objective of supervisory prioritization.
    Where guidance does not further these objectives, it is worth revisiting. I think it is important that we review a wide range of existing guidance, including outstanding Supervision and Regulation Letters (SR Letters), topical guidance that addresses issues that may adversely affect innovation (like the extensive guidance that has some bearing on third-party risk management), and the many other guidance documents that have been issued in recent years.
    Fundamentally, guidance should clarify expectations, and provide answers to industry questions, such as our earlier “office hours” guidance that provided a venue for banks and innovators to share information on new products and services like digital asset activities and artificial intelligence.
    Changing expectations around the use of guidance, as a tool to promote clarity in supervisory expectations, can encourage innovation in the banking system. Uncertainty in supervisory expectations has long been an obstacle to banks seeking to innovate, including banks engaging in digital asset activities or incorporating new technologies like artificial intelligence to improve efficiency and delivery of products and services. Just as it is imperative that banks innovate to remain competitive in the future, it is critical that bank supervisors enable the adoption of new technologies in a manner consistent with safety and soundness.
    Examiner training and workforce development. Examiners must engage in a challenging course of study and pass rigorous tests before qualifying to become a commissioned bank examiner. Those who have obtained this license have a strong foundation that they can rely on to conduct appropriate examinations. The commission demonstrates an elevated level of expertise, judgment, and fairness that these examiners bring to their work. As such, they should not shy away from transparency or public accountability.
    Currently, the Federal Reserve does not require all staff involved in supervision and bank examination to have met or to be on a path to meet this credential. Regulated entities should be able to expect that all of our examination and supervisory teams have achieved or are working to achieve this level of professional expertise. Going forward, the Fed will prioritize this training, particularly as we face an aging workforce across the Federal banking agencies that will require our new examination staff to ensure the safety and soundness of the banking system into the future. Failure to invest in and plan for examiner training today will result in much less effective supervision in years to come.
    CapitalCapital requirements are an important component of the prudential regulatory framework and are essential for the stability of interconnected banking and financial systems around the world. Yet too often, our efforts to address capital reform take a piecemeal approach to capital requirements. We tend to review individual elements of the capital framework in isolation, without considering whether proposed changes are sensible in the aggregate and contribute to a capital framework in which all components work together effectively.
    While each component is important, the aggregate calibration of requirements is ultimately the most meaningful, and we must examine whether this approach in totality appropriately captures risk. Over-calibrated capital requirements effectively create market distortions, disfavoring some activities over others in a way that is divorced from prudential safety and soundness goals and economic conditions.
    Leverage ratios are one example that illustrates this concern. The Federal Reserve has long acknowledged that leverage ratios are intended to act as a “backstop” to risk-based capital requirements. When leverage ratios become the binding capital constraint at an excessive level, they can create market distortions. This is especially true in the case of the enhanced supplementary leverage ratio (eSLR) which is applicable to the largest banks.
    As a result of this leverage requirement, banks are less inclined to engage in low-risk activities like Treasury market intermediation and revise their business activities in a way that is neither justified nor responsive to their customer needs. These distortions can also create broader financial system impacts like increased stress on Treasury market functioning. To be clear, the increasing bindingness of the eSLR on the largest firms did not result from careful policy debate and discussion. Instead, it is an unintended consequence of market and other bank regulatory requirements implemented after it was originally put in place.
    The original calibration of the eSLR was based on forecasts of the level of reserves and other so-called “safe assets” in the system that are now far out of line with current levels. I expect that in the near future, the agencies will publish a proposal to help address this concern and ensure that the eSLR resumes functioning as a backstop capital requirement.
    While this fix to the eSLR is necessary, it may not be sufficient to address issues in the capital framework. In July, the Federal Reserve will host a conference that will broaden our perspective in the consideration of capital requirements for large banks. We will bring together bankers, academics, and other capital experts to examine whether capital requirements as currently structured and calibrated are operating as intended—in a complementary fashion.
    I welcome the opportunity to consider a broader range of perspectives as we look to the future of capital framework reforms. In addition to considering potential changes to leverage ratio requirements and stress testing, the capital conference will also include a discussion of potential reforms to the GSIB surcharge and the Basel III capital requirements.
    The Board has already proposed a significant change to reduce the volatility in capital requirements resulting from our current stress testing process. The proposal includes providing a longer implementation timeline to phase in the annual stress capital buffer requirement. And later this year, the Board will consider more extensive changes aimed at promoting transparency, fairness, and predictability in the stress testing program.
    While stress testing is an important supervisory tool, its implementation, outcomes, and processes have raised significant questions and concerns about its effectiveness in identifying systemic weakness. The lack of transparency around the models used in stress testing prevents meaningful discussions about how the stress tests can be improved.
    Capital has an impact on the business activities of all banks. Although the capital framework for the smallest institutions tends to be simpler and more straightforward, calibration and design elements play an important role in the functioning of smaller banks just as they do for larger banks. Therefore, it is important that we also take the opportunity to address issues for smaller banks, that provide critical support to their local communities and the economy. On this front, we will review and consider the community bank framework, including capital requirements like the calibration of the community bank leverage ratio, and whether reforms to the capital framework for mutual banks can be improved to promote capital formation.
    I look forward to the results of public engagement on these issues, including through the upcoming conferences. As we consider bank capital requirements, the focus should be on achieving a capital framework that provides a strong foundation for the banking system, appropriately requires banks to hold capital corresponding to risk, and works together with bank supervision to support a safe and sound banking system.
    Review of Regulations and Information CollectionsSince the passage of the Dodd-Frank Act nearly 15 years ago, the body of regulations that all banks are subject to has increased dramatically. Many of the reforms made after the 2008 financial crisis were important and essential to ensuring a stronger and more resilient banking system. Yet, a number of the changes were backward looking—responding only to that mortgage crisis—not fully considering the potential future unintended consequences or future states of the world.
    With well over a decade of change in the banking system now behind us post-implementation, it is time to evaluate whether all of these changes continue to be relevant. Some of the regulations put in place immediately after that financial crisis resulted in pushing foundational banking activities out of the regulated banking system into the less regulated corners of the financial system. We need to ask whether this was and continues to be appropriate. These tradeoffs are complicated, and we must consider not only the changes that were made but also the evolution of and differences in the banking system today.
    Driving all risk out of the banking system is at odds with the fundamental nature of the business of banking. Banks must be able to earn a profit and grow while also managing their risks. Adding requirements that impose more costs must be balanced with whether the new requirements make the correct tradeoffs between safety and soundness and enabling banks to serve their customers and run their businesses. The task of policymakers and regulators is not to eliminate risk from the banking system, but rather to ensure that risk is appropriately and effectively managed.
    In a well-functioning, regulated banking system, banks serve an indispensable role in credit provision and economic stability. The goal is to create and maintain a system that supports safe and sound banking practices, and results in the implementation of proper risk management. Our goal should not be to prevent banks from failing or even eliminate the risk that they will. Our goal should be to make banks safe to fail, meaning that they can be allowed to fail without threatening to destabilize the rest of the banking system.
    Maintenance of the regulatory framework is necessary to ensure that our regulations continue to strike the right balance between encouraging growth and innovation, and safety and soundness. One easily identifiable way to achieve this is using the Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA) review process, which the agencies initiated in February of last year.
    The EGRPRA review process requires the federal banking agencies to identify any outdated, unnecessary, or overly burdensome regulations, eliminate unnecessary regulations, and take other steps to address the regulatory burdens associated with outdated or overly burdensome regulations. Prior iterations of the EGRPRA process have been underwhelming in their ability to result in meaningful change, but it is my expectation that this review, and eventually the accompanying report to Congress, will provide a meaningful process for stakeholders and the public to engage with the banking agencies in identifying regulations that are no longer necessary or are overly burdensome. It is also my expectation that regulators will be responsive to concerns raised by the public.
    Another area that is ripe for review are several of the Board’s rules that address core banking issues—from loans to insiders, to transactions with affiliates, to state member bank activities, and domestic and foreign activities of bank holding companies. Many of the Board’s regulations have not been comprehensively reviewed or updated in more than 20 years. Given the dynamic nature of the banking system and how the economy and banking and financial services industries have evolved over that period, we should update and simplify many of the Board’s regulations, including thresholds for applicability and benchmarks.
    Banking ApplicationsThe process to file an application and receive regulatory approval, whether it involves banks seeking a de novo charter, institutions seeking to merge, or any other application for bank regulatory approval should reflect both (1) transparency as to the information required in the application itself, and the standards of approval being applied, and (2) clear timelines for action.
    Recent experience with banking applications suggests that revisions would be helpful in this space. Streamlining the applications for de novo formation, and establishing clearer standards for approval, may encourage more de novo activity.
    Similar problems have affected bank mergers and acquisitions, where there have been lengthy processing delays. We need to rethink whether many of the additional requests for information can be addressed through better application forms or relying on information that is available from bank examinations. We should also consider factors that force applications to be moved from Reserve Bank-delegated processing to requiring consideration by the Board. One example is the perverse effect of “competitive” screens that disproportionately affect transactions in rural and underserved banking markets. Another is the treatment of adverse public comments that may lack factual support or rely on matters already considered in the review process, including existing supervisory records.
    Closing ThoughtsI am honored to have the opportunity to serve as the Vice Chair for Supervision. The work of supervision and regulation is critical to maintaining a safe and sound banking system and protecting U.S. financial stability. Conditions constantly evolve in the banking system, and so too must the regulatory and supervisory framework. We must be proactive and responsive in the face of emerging risks and ensure that the framework operates in an efficient and effective manner.
    The steps I have identified today are intended to further these goals by creating an initial roadmap to refocus supervisory and regulatory efforts on the core financial risks most critical to maintaining a healthy and resilient banking system. I look forward to working with my Board colleagues and my counterparts at the other banking agencies as we pursue sensible and pragmatic reforms.

    1. The views expressed here are my own and are not necessarily those of my colleagues on the Federal Reserve Board or the Federal Open Market Committee. Return to text
    2. See, e.g., Michelle W. Bowman, “Bank Regulation in 2025 and Beyond” (speech at the Kansas Bankers Association Government Relations Conference, Topeka, KS, February 5, 2025); Michelle W. Bowman, “Innovation in the Financial System” (speech at the Salzburg Global Seminar on Financial Technology Innovation, Social Impact, and Regulation: Do We Need New Paradigms?, Salzburg, Austria, June 17, 2024); Michelle W. Bowman, “Tailoring, Fidelity to the Rule of Law, and Unintended Consequences (PDF)” (speech at the Harvard Law School Faculty Club, Cambridge, MA, March 5, 2024); Michelle W. Bowman, “New Year’s Resolutions for Bank Regulatory Policymakers” (speech at the South Carolina Bankers Association 2024 Community Bankers Conference, Columbia, SC, January 8, 2024). Return to text
    3. Michelle W. Bowman, “Approaching Policymaking Pragmatically (PDF)” (remarks to the Forum Club of the Palm Beaches, West Palm Beach, FL, November 20, 2024). Return to text
    4. See Board of Governors of the Federal Reserve System, Supervision and Regulation Report (PDF) at 16-17 (Washington: Board of Governors, November 2024), (describing data for the first half of 2024, the most recent period for which data is available). Return to text
    5. Board of Governors of the Federal Reserve System, Supervision and Regulation Report. Return to text

    MIL OSI USA News –

  • MIL-OSI Security: NATO Partnership and Cooperative Security Committee visits Jordan

    Source: NATO

    From 2 to 4 June 2025, the NATO Partnership and Cooperative Security Committee (PCSC) travelled to the Hashemite Kingdom of Jordan, for high-level engagements and visits to Jordanian facilities supported by NATO’s Defence Capacity Building (DCB) programme.

    Deputy Prime Minister and Foreign Minister Dr. Ayman Safadi exchanged views with the Committee on regional developments and on strengthening the strategic partnership between Jordan and NATO, including the imminent opening of the NATO Liaison Office in Amman.  The PCSC received updates on NATO-Jordan cooperation at the Headquarters of the Jordanian Armed Forces, the National Center for Security and Crisis Management, and the Women’s Military Training Centre, all of which are supported by NATO’s DCB initiative.

    The visit was the first by the PCSC to Jordan and also celebrated over a decade of NATO’s DCB support to the Kingdom.  It included a meeting with Allied Ambassadors in Amman, hosted by Romania as the NATO Contact Point Embassy.

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  • MIL-OSI USA: Next-Generation Lawmakers Unveil Legislative Agenda to End Corruption in Washington

    Source: United States House of Representatives – Congresswoman Hillary Scholten – Michigan

    WASHINGTON, D.C. — Congresswoman Hillary Scholten (MI-03) joined a group of next-generation reformers in the House of Representatives to introduce the “End Corruption Now”legislative agenda. An effort to confront political corruption and clean up government that includes seven bills designed to put power back in the hands of the American people by preventing the President, Executive Branch officials, and Members of Congress from personally benefiting from their offices.

    After watching President Trump’s administration engage in brazen corruption, the group of representatives including Reps. Hillary Scholten (MI-03), Joe Neguse (CO-02), Angie Craig (MN-02), Seth Magaziner (RI-02), Chris Deluzio (PA-17), Pat Ryan (NY-18), and Emilia Sykes (OH-13) – felt compelled to act. 

    “At a time when public trust in our institutions is at a breaking point, the Integrity in Government Act is about restoring accountability at the highest levels of power,” saidRep. Scholten. “This bill protects the nonpartisan watchdogs who work on behalf of the American people and ensures that the White House–regardless of who is in office–is subject to real oversight to protect taxpayer dollars and ensure efficiency. Our democracy depends on transparency, and the American people deserve nothing less.” 

    “Donald Trump’s first 100 days back in office were marked by chaos, corruption, and self-dealing. He spent the time stacking his administration with billionaire donors and promoting shameless cryptocurrency scams, all while his Republican supporters in Congress trade stocks to benefit their own portfolios. The time for this corruption to end is now. We must clean up government for future generations and ensure our government is serving the American people, not special interests,” saidRep. Neguse. 

    “Elected officials are elected to serve their constituents, not their own self-interests,” saidRep. Craig. “It’s past time we pass legislation to clean up Washington and ensure our tax dollars are being spent as they should – on improving the lives of everyday Americans. That’s why I’m proud to be partnering with my colleagues on this anti-corruption campaign to make common-sense reforms that will restore integrity, transparency and efficiency to our government.”  

    “Members of Congress are elected to serve the American people, not to enrich themselves,” saidRep. Magaziner. “We must ban Member of Congress from trading stocks, because there should be no opportunity for elected officials to profit off of their positions. I am proud to join Representative Neguse and other colleagues in our effort to bring real ethics reform to Washington.”

    “Corporate power has long rigged the system against the American people,” saidRep. Deluzio. “We must root out this corruption to restore the American Dream. Stopping corporate criminals from taking power from inside our government itself is a great place to start. I’m introducing the No Corporate Crooks Act as a part of the ‘End Corruption Now’ legislative agenda because someone convicted of crimes like bribery, embezzlement, fraud, insider trading, and more shouldn’t be let anywhere near the levers of power in the executive branch.” 

    “For too long, politicians in both parties have put their own gain ahead of what’s best for the American people. The brazen corruption of the last few months has only highlighted the need for urgent action. It is time for comprehensive reform to ensure politicians serve the people, not themselves,” saidRep. Ryan. “No more getting rich off trading stocks. An end to Members of Congress becoming lobbyists. Getting rid of kickbacks for billionaire friends. I’m proud to be working alongside a group of next-generation lawmakers who refuse to accept the status quo – we’re here to clean things up.”

    “When public officials use their power for personal gain and are shielded from accountability, we undermine democracy itself,” saidRep. Sykes. “This bill – and the broader End Corruption Now agenda – is about restoring public trust and ensuring that no one is above the law. The American people deserve a government that works for them, not for the biggest wallets or the best connections.” 

    The “End Corruption Now” legislative agenda targets conflicts of interest and would put a stop to the selling of access and influence, including banning Members of Congress from trading stocks or becoming lobbyists, and strengthening anti-corruption laws. It includes the following bills:  

    • The Integrity in Government (IG) Act, introduced by Rep. Hillary Scholten, strengthens checks and balances by installing new oversight measures for the White House and its top offices and protecting independent watchdogs from political retaliation. Read the bill text HERE.
    • The Close the Revolving Door Act, introduced by Rep. Joe Neguse, places a lifetime ban on Members of Congress from serving as lobbyists. The bill is championed in the U.S. Senate by Senator Michael Bennet. Read the bill text HERE.
    • The Restoring Integrity in Democracy Resolution, introduced by Rep. Angie Craig, would prohibit Members of Congress from serving on corporate boards. Read the bill text HERE.
    • The Transparent Representation Upholding Service and Trust (TRUST) in Congress Act, introduced by Rep. Seth Magaziner, effectively bans Members of Congress, their spouses, and dependent children from trading individual stocks by requiring them to either divest from individual stock holdings or move their investments into a qualified blind trust during their entire tenure in Congress. Read the bill text HERE.
    • The No Corporate Crooks Act, introduced by Rep. Chris DeLuzio, prohibits any chief executive officers, in either the public or private sector, convicted of covered financial crimes from serving in the executive branch. Read the bill text HERE. 
    • The Stop Millionaires Using Service for Kickbacks (MUSK) Act, introduced by Rep. Pat Ryan, requires government employees defined as Executive Schedule (I-IV) employees, Special Government Employees, and people in the Executive Office of the President to recuse themselves from any matters affecting the financial interests of their previous employers for the four-year period. Read the bill text HERE.
    • The Closing Bribery Loopholes Act, introduced by Rep. Emilia Sykes, closes loopholes in the federal bribery statute by clarifying the definition of an “official act” by a public official. The bill expands the definition to prohibit public officials from improperly using their position for private gain. Read the bill text HERE. 

    The “End Corruption Now”agenda is endorsed by Citizens for Responsibility and Ethics in Washington (CREW), Public Citizen, and Project On Government Oversight (POGO). 

    “Americans should be able to trust that their elected officials and senior policymakers are serving the public’s interest, rather than private financial interests,” saidDebra Perlin, Vice President for Policy at Citizens for Responsibility and Ethics in Washington. “CREW applauds Reps. Neguse, Magaziner, Deluzio, Scholten, Ryan, Sykes, and Craig for their initiative, leadership and collaboration to put together a multi-faceted anti-corruption package. For far too long, some have accepted the status quo, but in the face of recent and unprecedented examples of how the system can be manipulated for private gain, now is the time for Congress to take action and pass effective anti-corruption legislation.” 

    “Bribery, kickbacks, pay-to-play. These are the components of a criminal enterprise – not a functional federal government. The tsunami of corruption flowing from the White House has flooded all of Washington and left a revolting stench that’s impossible to ignore. This fire hose of anti-corruption measures will blast corruptionhead on by protecting independent government watchdogs from being weaponized, banning former members of Congress from being lobbyists, and stopping convicted corporate crooks and special government employees from personally profiting at the people’s expense. Now is not a time to worry – it’s time to clean house,” saidLisa Gilbert, Co-President, Public Citizen. 

    “At a time when the federal government does not have the trust and confidence of the American people, it is more important than ever for leaders to lead and respond accordingly,” saidDylan Hedtler-Gaudette, Acting Vice-President of Policy and Government Affairs at the Project On Government Oversight (POGO). “Not since the post-Watergate era has there been such a need for a comprehensive anti-corruption, good governance reform agenda. This is why Rep. Neguse and his colleagues should be applauded for this bold reform initiative, aimed at cracking down on corruption and bringing about the government that the American people deserve. Whether it’s reining in the corruption of the revolving door or banning the unethical practice of congressional stock trading or strengthening oversight tools like inspectors general, these reforms are long overdue and now is the time to get them done.” 

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  • MIL-OSI Security: Defense News: USS Tripoli forward deploys to Japan

    Source: United States Navy

    SAN DIEGO – The America-class amphibious assault ship USS Tripoli (LHA 7) departed Naval Base San Diego May 19 to forward deploy to Sasebo, Japan, as part of a scheduled rotation of forces in the Pacific. The Tripoli will replace the amphibious assault ship USS America (LHA 6), which will depart Sasebo and move to San Diego.

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  • MIL-OSI Canada: Statement by Prime Minister Carney on the National Day Against Gun Violence

    Source: Government of Canada – Prime Minister

    “Canada’s new government has a mandate to keep communities safe. On National Day Against Gun Violence, we affirm our commitment to deliver on that mandate with purpose and full force.

    “Earlier this week, we tabled the Strong Borders Act – giving law enforcement additional tools to secure the border, combat organized crime, stop the flow of illegal fentanyl, and crack down on money laundering.

    “We are also increasing our capacity to intercept illegal guns coming into our country with the deployment of scanners, drones and helicopters, additional personnel, and K-9 teams to the border. We will also be moving forward to revoke firearms licences for those convicted of intimate partner violence and those subject to protection orders.

    “Canadians voted for change, and we will be delivering that change with decisive action over the coming months. Working with law enforcement and partners at all orders of government, we will keep communities safe, get guns off our streets, and make bail harder to get for repeat offenders charged with car theft, home invasions, human trafficking, and drug smuggling.”

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  • MIL-OSI USA: Around the Air Force: US Air Force Academy Commencement, Modernizing Pilot Training, Hurricane Hunters

    Source: United States Air Force

    Headline: Around the Air Force: US Air Force Academy Commencement, Modernizing Pilot Training, Hurricane Hunters

    In this week’s look Around the Air Force, Secretary of the Air Force Troy Meink delivers a commencement address to the U.S. Air Force Academy’s class of 2025, the T-7A Red Hawk is the future of pilot training, and Air Force Reserve Hurricane Hunters are ready for the Atlantic hurricane season.

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  • MIL-OSI Security: Family appeal for help to find missing man not seen for six months

    Source: United Kingdom London Metropolitan Police

    The family of a 47-year-old man missing since December 2024 are appealing for assistance to help to find him.

    Narendran Ramakrishnan, from Barnet was last seen at around 12:05hrs on Sunday, 8 December 2024 at St Pancras Station.

    We understand he may have travelled to Dover and has links to Cricklewood, north London. He also previously expressed an interest to move to Birmingham.

    Narendran is 5ft 10in and medium build with black hair. He also has a distinctive tattoo of a baby devil on his right arm.

    Narendran’s brother Narayanan Ramakrishnan said:

    “Narendran is so loved and missed at home. We are worried about his welfare and are urging the public to help bring him home.

    “Please take a close look at the photos we are making public today, and don’t hesitate to get in touch if you have any information.”

    Police Constable Harjinder Kang, from the Met’s North West Missing Persons unit, added:

    “Narendran’s family are understandably concerned about his wellbeing, as are we. We have been carrying out a number of enquiries in an effort to find him, and are now looking to the public for further support. Please get in touch if you see him.”

    If you see Narendran, please call 999 and quote 6006/8DEC24.

    If you believe you have previously seen him or have any other information, please call 101 providing the same reference.

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  • MIL-OSI Security: Man charged as part of Croydon murder investigation

    Source: United Kingdom London Metropolitan Police

    Officers investigating the fatal stabbing of a woman in Croydon on Saturday, 31 May have charged a man with murder.

    Police were called to Frith Road at 09:07hrs following reports of a stabbing. Sadly, a woman was declared dead at the scene after sustaining a single stab wound.

    The victim has since been named as 26-year-old Marjama Osman from Croydon. Her family are aware and will continue to receive support from specialist officers.

    On Friday, 6 June, Simon Hinsta Ghebremedhin, 33 (01.01.1992) of Streatham High Road, SW16 was charged with murder.

    Ghebremedhin was also charged with possession of a class B drug and will appear at Thames Magistrates Court on Saturday, 7 June.

    A 32-year-old man was also arrested on suspicion of murder and has since been bailed as enquiries continue.

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  • MIL-OSI Security: Crown Point Man Sentenced to 54 Months in Prison

    Source: Office of United States Attorneys

    HAMMOND- Daeshawn Jones, 29 years old, of Crown Point, Indiana, was sentenced by United States District Court Judge Philip P. Simon after pleading guilty to being a convicted felon in possession of a firearm, announced Acting United States Attorney Tina L. Nommay.

    Jones was sentenced to 54 months in prison followed by 24 months of supervised release.

    According to documents in the case, on October 8, 2023, law enforcement conducted a traffic stop on a vehicle in Merrillville, Indiana, in which Jones was a passenger.  During a search of the vehicle, a loaded semi-automatic pistol with an obliterated serial number was discovered from the rear driver’s side seat. Jones attempted to flee but was apprehended.  His criminal history revealed that he had a prior 2022 Illinois felony conviction for attempted criminal sexual assault/force and a 2021 Indiana felony conviction for forgery, and as such, he is prohibited from possessing the firearm. 

    This case was investigated by the Bureau of Alcohol, Tobacco, Firearms, and Explosives Indiana High Intensity Drug Trafficking Task Force and the Merrillville Police Department.  This case was prosecuted by Assistant United States Attorney Kristian R. Mukoski.         

    This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the Department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results.

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  • MIL-OSI Security: Southwest Georgia Man Sentenced to Prison for Armed Meth Trafficking

    Source: Office of United States Attorneys

    Investigation Targeted Illegal Drug Suppliers; Defendant Admitted “Lifelong” Meth Dealer

    ALBANY, Ga. – A Southwest Georgia man with a criminal history who admitted to being a “lifelong” methamphetamine supplier and who said he distributed up to three kilograms of the illegal drug per week during the height of the COVID-19 pandemic on behalf of a Mexican drug cartel was sentenced to serve 15 years in federal prison this week.

    Justin Harris Vinson, 42, of Warwick, Georgia, was sentenced to serve 180 months in prison to be followed by five years of supervised release by Chief U.S. District Judge Leslie Gardner on June 4. Vinson previously pleaded guilty to one count of distribution of methamphetamine on Sept. 17, 2024. Codefendant Shana Rae Black, 34, of Cordele, Georgia, was sentenced to serve 168 months to be followed by five years of supervised release on Feb. 28, after she previously pleaded guilty to one count of distribution of methamphetamine on Aug. 15, 2024. There is no parole in the federal system.

    “Repeat convicted felons who weaponize themselves and distribute hazardous, illegal drugs in our communities will be brought to justice,” said Acting U.S. Attorney C. Shanelle Booker. “Alongside our law enforcement partners, our office is working nonstop to identity those offenders causing the most harm in the communities we serve, stop their criminal activities and hold them accountable.”

    “Drug traffickers drive addiction and destroy communities,” said Jae W. Chung, Acting Special Agent in Charge of the DEA Atlanta Division stated. “DEA will use any resource necessary to remove these career criminals from our streets.”

    “Methamphetamine is a highly addictive drug with devastating consequences to users, their families and communities,” said to Special Agent in Charge Paul Brown of FBI Atlanta. “This prosecution closes a pipeline for dangerous drugs flowing into the streets of Southwest Georgia.”  

    “We are committed to holding those who traffic methamphetamine accountable,” said GBI Director Chris Hosey. “Collaborating closely with state, local and federal law enforcement agencies, we will work to ensure justice and dismantle these dangerous networks.”

    “I am incredibly proud of our agency’s relentless efforts and the strong collaboration with our local and federal partners. Methamphetamine trafficking brings dangerous consequences to our community, often resulting in tragedy and loss of life. This case highlights our dedication to safeguarding the community and demonstrates the powerful results we achieve through collaboration,” stated Crisp County Sheriff Billy Hancock.

    “This case demonstrates the daily, unwavering efforts law enforcement agents make to ensure a good case to get criminal offenders off the streets and behind bars,” said Lee County Sheriff Reggie Rachals. “We are proud of the cooperation demonstrated by all to ensure these repeat offenders are held accountable at the federal level, where there is no parole.”

    According to court documents and statements referenced in court, a confidential informant (CI) working with the Crisp County Sheriff’s Office (CCSO) contacted Black on Facebook to obtain methamphetamine on Oct. 27, 2022. Black sold the CI approximately 111 grams of methamphetamine at a Perry, Georgia, motel; the CI reported there was a pistol on a nightstand in the motel room next to a bulk quantity of methamphetamine. On Oct. 31, an undercover Georgia Bureau of Investigation (GBI) agent contacted Black to purchase methamphetamine and met her at the Walmart in Cordele. Under audio and video surveillance, the GBI agent purchased methamphetamine from Black.

    On Nov. 2, FBI, DEA and GBI agents met with another CI to purchase methamphetamine from Vinson. Under surveillance, Vinson met the CI at his Warwick residence and traveled with Vinson to the Sunrise Inn in Cordele to meet with Black. During the transaction, Black provided 284.4 grams of methamphetamine and collected the majority of the cash payment for the drugs, with Vinson keeping $300 as a brokering fee. Vinson was seen with a firearm during the transaction.

    On Nov. 7, CCSO and GBI arrested Black in Crisp County as she traveled in a vehicle back from McDonough, Georgia.  A search of the vehicle revealed Black was in possession of 982.7 grams of 97% pure methamphetamine, 15.89 grams of 91% pure methamphetamine, a digital scale and several cell phones. GBI executed a search warrant on the Baymont Inn motel room in Cordele where Black was staying and found a 9mm semiautomatic pistol, a small bag of suspected methamphetamine, four digital scales and bulk quantities of plastic baggies. Black’s cell phones showed extensive communications between her and known drug dealers.

    On Jan. 22, 2023, Vinson purchased 15 ounces of methamphetamine in Cordele and sold 277 grams of 98% pure methamphetamine to a CI utilized by GBI in Warwick. During the transaction, the CI observed Vinson place a firearm in the center console of his vehicle. A search warrant was executed at Vinson’s residence on Jan. 26, 2023. Law enforcement located a semiautomatic pistol in his bedroom, along with five other firearms, inside of an open safe. Vinson told officers he had been selling methamphetamine in the South Georgia and North Florida area his entire life and that during the peak of COVID in 2020, he would sell approximately three kilograms of methamphetamine per week for six months on behalf of a Mexican drug cartel.

    Vinson has multiple prior felony convictions for possession of methamphetamine. Black also has a previous felony conviction in Jones County, Georgia, Superior Court for possession with intent to distribute methamphetamine.

    This case was investigated by GBI, DEA and the Crisp County Sheriff’s Office with assistance from the FBI and the Lee County Sheriff’s Office.

    Assistant U.S. Attorney Matthew Redavid prosecuted the case for the Government.

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  • MIL-OSI Security: Co-leader of large-scale narcotics & human trafficking rings sentenced to 30 years in prison

    Source: Office of United States Attorneys

    COLUMBUS, Ohio – A leader in a case with 23 defendants involved in narcotics and human trafficking conspiracies was sentenced in federal court here today to 360 months in prison for drug, gun, human trafficking and money laundering crimes.

    From 2008 until June 2022, Cordell Washington, 38, of Pickerington, ran a large-scale drug trafficking organization in Columbus with co-defendant Patrick Saultz. Their operations also included sex trafficking, labor trafficking, fraud and money laundering.

    A multi-agency law enforcement task force initially announced the case in July 2022 after a federal grand jury indicted 11 defendants for distributing bulk amounts of fentanyl, cocaine and crack cocaine within 1,000 feet of a Columbus elementary school. In October 2022, the government added 12 defendants and 28 new charges. 

    Court documents detail that the drug trafficking organization brought large quantities of fentanyl, heroin, cocaine, crack cocaine, methamphetamine, oxycodone, alprazolam and marijuana into Columbus. These drugs were sold or used to coerce individuals into sexual activity for some members of the drug ring and their profit.

    As part of this case, local, state and federal law enforcement officers have executed more than 20 search warrants at various locations throughout Central Ohio and seized more than $1.7 million in drug proceeds. For example, while executing a search warrant at a local storage unit, law enforcement officials discovered approximately one million dollars in bulk United States currency. Searches of additional residences yielded 47 firearms, diamonds, Rolex watches and additional bulk amounts of cash.

    The drug trafficking organization sold drugs to customers out of more than 20 Columbus residences and distributed larger amounts to regional drug traffickers who then trafficked those narcotics to places such as West Virginia and the Northern District of Ohio. Saultz began the drug trafficking organization by distributing heroin, cocaine and crack cocaine from his residences on Vida Place and South Hague Street in Columbus as early as 2008.

    Most of the drug dealing took place within 1000 feet of Burroughs Elementary School in Columbus at a residence on South Burgess. For example, one of Washington and Saultz’s numerous subordinates sold approximately $18,000 worth of narcotics per day from the location on South Burgess.

    The case also involves the overdose death of at least one individual and the violent death of a second victim.

    As part of his plea in April 2024, Washington admitted to labor trafficking male drug addicts. The defendant provided the men with their drug of choice after the men completed construction or cleaning projects at residences owned by the drug trafficking organization. The men were recruited by Washington and some completed the work for him under serious threat of harm.

    Washington would provide the addicts with advances on small amounts of drugs so that they were well enough to perform physical labor. If Washington was not pleased with their work product, he would not complete the final drug payment and would threaten violence against them.

    Washington used numerous methods to launder the group’s drug trafficking proceeds, including establishing front businesses that purported to be rental, repair and construction companies.

    As of today, 18 of the 23 defendants have been sentenced, including six defendants who were sentenced to more than 10 years in prison. Saultz was sentenced in March 2025 to 30 years in prison.

    Acting U.S. Attorney Kelly A. Norris commended the investigation coordinated by Ohio Attorney General Dave Yost’s Ohio Organized Crime Investigations Commission Central Ohio Human Trafficking Task Force, which includes Columbus Division of Police Chief Elaine Bryant; Jared Murphy, Acting Special Agent in Charge, U.S. Immigration and Customs Enforcement’s (ICE) Homeland Security Investigations (HSI) Detroit; and Andrew Lawton, Special Agent in Charge, U.S. Drug Enforcement Administration (DEA). Other agencies that have assisted the task force with the investigation include the Franklin County Sheriff’s Office, HIDTA Task Force, IRS-Criminal Investigation, FBI, Ohio Bureau of Criminal Investigations (BCI), Ohio National Guard Counter Drug Task Force, Pickerington Police Department, New Albany Police Department and the Fairfield County Sheriff’s Office SWAT Team.

    This investigation was initiated as part of an Organized Crime Drug Enforcement Task Forces (OCDETF) operation. This case is part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations (TCOs), and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces (OCDETFs) and Project Safe Neighborhood (PSN).

    Assistant United States Attorneys Timothy Prichard and Emily Czerniejewski are representing the United States in this case.

    # # #

    MIL Security OSI –

  • MIL-OSI Security: Fraudulent Billing Scheme Targeted in False Claims Act Complaint Against Physical Therapy Practice

    Source: Office of United States Attorneys

    PENSACOLA, FLORIDA – The United States has filed a complaint under the False Claims Act (“FCA”) against Absolute Physical & Aquatic Therapy, LLC; Chipley Physical Therapy, LLC; Ruben Laurel; and Lorrie Laurel, announced U.S. Attorney John P. Heekin.  The complaint, filed in the U.S. District Court for Northern District of Florida, alleges that the Defendants billed the Government for services that Defendant Lorrie Laurel, a physical therapist, performed while she was abroad.

    Defendant Chipley Physical Therapy, LLC (“CPT”) provides outpatient physical and aquatic therapy services across the Florida panhandle in Chipley, Marianna, and Bonifay, and is owned and operated by Defendants Ruben and Lorrie Laurel. Defendant Absolute Physical & Aquatic Therapy (“APAT”) is a physical therapy billing company owned and operated by Defendant Ruben Laurel.

    The government’s complaint alleges Defendants knowingly submitted false claims for payment in violation of the FCA by billing the government for services while Defendant Lorrie Laurel was out of the country and on cruises in Mexico, Jamacia, Aruba, and the Bahamas between July 2019 and March 2024.  More specifically, the complaint alleges Defendants submitted 613 claims for payment to the United States for services Defendant Lorrie Laurel allegedly performed at CPT while she was abroad. 

    U.S. Attorney Heekin said: “This lawsuit demonstrates our firm commitment to hold healthcare providers accountable for fraudulent billing and fulfills the promise of President Donald J. Trump and Attorney General Pam Bondi to aggressively root out fraud, waste, and abuse.  Healthcare providers who are fraudulently charging the federal government for medical services not rendered will be vigorously pursued by our office.”

    The lawsuit is captioned United States ex rel. Ariel Bowen v. Absolute Physical & Aquatic Therapy, LLC, et al., Case No. 5:21-cv-236-TKW-MJF (N.D. Fla.), and is being handled by the U.S. Attorney’s Office for the Northern District of Florida. The U.S. Department of Health and Human Services provided substantial assistance in the investigation.

    The United States is represented in this matter by Assistant U.S. Attorneys Mary Ann Couch and Marie Moyle for the Northern District of Florida.

    The claims asserted against defendants are allegations only and there has been no determination of liability.

    The United States Attorney’s Office for the Northern District of Florida is one of 94 offices that serve as the nation’s principal litigators under the direction of the Attorney General.  To access public court documents online, please visit the U.S. District Court for the Northern District of Florida website. For more information about the United States Attorney’s Office, Northern District of Florida, visit http://www.justice.gov/usao/fln/index.html.

    MIL Security OSI –

  • MIL-OSI: Foxx Development Poised to Join Russell Microcap Index

    Source: GlobeNewswire (MIL-OSI)

    Irvine, CA, June 06, 2025 (GLOBE NEWSWIRE) — Foxx Development Holdings Inc. (“Foxx Development” or “Company”) (Nasdaq: FOXX), a leading provider of consumer electronics and integrated Internet-of-Things (IoT) solutions for retail and institutional clients, today announced that the Company will be included in the Russell Microcap® Index following FTSE Russell’s preliminary 2025 annual reconstitution list. Foxx is among the telecommunications companies slated to join the list, representing a significant milestone for the Company. The newly reconstituted indexes will take effect after U.S. market close on June 27.

    The Russell Microcap® Index is completely reconstituted annually to ensure new and growing equities are reflected and companies included continue to reflect appropriate capitalization and value characteristics. After meeting the index’s market capitalization and liquidity requirements and qualifying for inclusion, Foxx now joins a select group of emerging growth companies in this benchmark.

    “Joining the Russell Microcap® Index is nothing short of an honor,” said Greg Foley, CEO of Foxx Development Holdings Inc. “Being recognized alongside America’s promising growth companies validates our financial performance and the tangible impact we’re making in consumer electronics and IoT solutions. We believe our team has built something meaningful here, and Russell Microcap® Index inclusion puts us on the radar of institutional investors who specialize in emerging growth opportunities and may help fuel our expansion.”

    Russell Microcap® Index inclusion typically increases a company’s visibility among institutional investors who track small-cap benchmarks. The designation often leads to enhanced liquidity as index funds and ETFs that follow the Russell Microcap automatically purchase shares of constituent companies.

    About Foxx Development Holdings Inc.
    Foxx Development is a consumer electronics and integrated Internet-of-Things (IoT) solution company catering to both retail and institutional clients. With robust research and development capabilities and a strategic commitment to cultivating long-term partnerships with mobile network operators, distributors and suppliers around the world, it currently sells a diverse range of products including mobile phones, tablets and other consumer electronics devices throughout the United States, and is in the process of developing and distributing end-to-end communication terminals and IoT solutions. For more information, please visit http://foxxusa.com and http://ir.foxxusa.com.

    Forward-Looking Statements
    This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the U.S. Securities Exchange Act of 1934, as amended (“Exchange Act”). Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “believe,” “intend,” “plan,” “projection,” “outlook” or words of similar meaning. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties, and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements.

    Investor Relations Contact:
    International Elite Capital
    Annabelle Zhang
    Telephone: +1 (646) 866-7928
    Email: foxx@iecapitalusa.com 

    The MIL Network –

  • MIL-OSI: Form 8.3 – AXA INVESTMENT MANAGERS: Empiric Student Property Plc

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)   Full name of discloser: AXA Investment Managers S.A.
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		  
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 Empiric Student Property plc
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:  
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure    		 05 June 2025
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”

    NO

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

    (a)      Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

    Class of relevant security: 1p ordinary
      Interests Short positions
      Number % Number %
    (1)   Relevant securities owned and/or controlled: 20,586,812 3.10    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: AXA Investment Managers does not have discretion regarding voting decisions in respect of 3,700,344 shares that are included in this total 20,586,812 3.10    

    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    (b)      Rights to subscribe for new securities (including directors’ and other employee options)

    Class of relevant security in relation to which subscription right exists:  
    Details, including nature of the rights concerned and relevant percentages:  

    3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
    1p ordinary Purchase 404,726 GBP 1.04
    1p ordinary Purchase 12,537 GBP 1.04
    1p ordinary Purchase 257,742 GBP 1.04
    1p ordinary Purchase 335,264 GBP 1.04
    1p ordinary Purchase 131,602 GBP 1.04
    1p ordinary Purchase 257,742 GBP 1.04

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD    		 Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position    		 Number of reference securities Price per unit
             

    (c)        Stock-settled derivative transactions (including options)

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.    		 Expiry date Option money paid/ received per unit
                   

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option    		 Exercising/ exercised against Number of securities Exercise price per unit
             

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion    		 Details Price per unit (if applicable)
           

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”
    None

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i)   the voting rights of any relevant securities under any option; or
    (ii)   the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”
    None

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? NO
    Date of disclosure: 06 June 2025
    Contact name: Anthony GILSOUL
    Telephone number*: +33 1 44 45 97 54

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    *If the discloser is a natural person, a telephone number does not need to be included, provided contact information has been provided to the Panel’s Market Surveillance Unit.

    The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

    The MIL Network –

  • MIL-OSI Economics: Can MREL be lower?

    Source: Bank for International Settlements

    Introduction1

    Good morning, and many thanks for inviting me to speak to you today. The last time I addressed the EFDI International Conference was two years ago in Budapest. This time you are meeting in my home city, and I hope that you all have an opportunity to enjoy it.

    In 2023, the conference took place shortly after the banking turmoil in March of that year. That episode focused international attention on structural risks posed by high volumes of uninsured deposits and the need to review prevailing assumptions about their “stickiness” in an environment where technology allows rapid movement of funds and social media can vastly amplify rumours and, potentially, misinformation. The 2023 failures set an agenda for international work that is still being pursued. Moreover, weeks before that 2023 conference, the European Commission had released its legislative proposal on reforms to the EU crisis management and deposit insurance framework (CMDI). Two years later, this is still in the legislative process.

    So, in a way, not much has changed in the intervening two years. But, arguably, we are now in a riskier environment. The global landscape is changing. Geopolitical risks are more pronounced than they have been in at least a generation. Technological innovation is moving faster than governments and regulators can keep pace, and the opportunities and risks it will bring remain in flux.

    The theme of this conference is how to lay the solid ground that will allow us to embrace the future – to take advantage of its opportunities and contain its risks. This is a wide, almost daunting question. What’s more, we need to confront it against a backdrop of rising calls to reduce the costs of regulatory compliance. In some cases, the demand is to directly cut regulation. In others, it is framed in terms of simplification. The debate is obviously welcome. It is an obligation for regulators to avoid, to the greatest extent possible, imposing disproportionate costs on the industry. But by the same token, any alleviation of regulatory obligations should be fully compatible with the preservation of key social objectives, including financial stability.

    I am not going to talk about this bigger picture today. Rather, I wish to focus on one dimension that is of particular relevance to this European audience of deposit insurers and financial crisis managers. That is the question of funding for bank failure management. Here, too, there are calls on us to revisit our standards and alleviate disproportionate burdens. It is claimed that the Minimum Requirement for Own Funds and Eligible Liabilities (MREL) framework in the banking union requires banks to hold materially more loss-absorbing capacity (LAC) than comparable US banks. It is argued that this both undermines the competitiveness of European banks and affects their ability to fund the EU economy and function as an engine for growth.

    I will come back to this comparison shortly, but first let’s go back to basics.

    The background

    Following the 2008 financial crisis, the international community put in place a resolution framework designed to provide credible alternatives to bailing out failing firms. Of course, this includes resolution powers and tools, an institutional architecture and cooperative arrangements. But LAC requirements are core to the effectiveness of the framework. LAC allows the costs of resolution to be internalised so that losses are absorbed by shareholders and creditors, as they would be in liquidation, and a failed bank’s critical functions can continue to operate without resort to public funding.

    The Financial Stability Board’s Total Loss-absorbing Capacity(TLAC) Standard therefore supplements the resolution framework and aims to ensure that the world’s most systemically important banks – the G-SIBs – hold sufficient LAC that will be readily available in the event of their resolution and allow authorities to execute their resolution strategy. Expressed as a comprehensive requirement that includes regulatory capital, the FSB standard requires G-SIBs to maintain TLAC of at least 18% risk-weighted assets or 6.75% of total leverage (whichever is higher).

    The decision to limit TLAC requirements to G-SIBs was based on their cross-border nature and the fact that they are sufficiently comparable to support an internationally coordinated, one-size-fits-all approach. However, these are not the only banks that would be systemic in failure. The US regional bank failures of 2023 highlighted that systemic risks can flow from the failure of banks that are significantly smaller and less international than G-SIBs.

    In the case of Silicon Valley Bank (SVB) and Signature Bank, those risks were considered sufficiently serious to justify invoking the systemic risk exception that allowed the Federal Deposit Insurance Corporation (FDIC) to execute a more costly resolution strategy than would otherwise have been permitted and thereby protect the uninsured deposits. Those cases also illustrated the importance of adequate LAC for banks other than G-SIBs. Under the current US framework, only G-SIBs are required to hold liabilities designed to absorb losses in resolution, beyond prudential capital requirements. In the wake of those failures, it has been observed that the depositor runs and costs of failure management might have been less severe, and the FDIC might have had more options, if SVB and Signature Bank had had additional LAC which could have protected uninsured deposits from loss.2 This is an important lesson.

    The arrangements for LAC in the EU are more stringent than in the United States. This is so for two reasons:

    First, unlike the TLAC requirement, MREL is set for each bank based on its expected resolution strategy and considerations of resolvability, and may be adjusted within parameters set out in the framework. While TLAC is the baseline for EU G-SIBs, they are subject to an MREL add-on to align with the general EU approach to resolvability.

    This approach has resulted in EU banks being subject to higher LAC requirements than similar banks in other jurisdictions. For G-SIBs, the EU requirements result overall in a surcharge of roughly 4% of risk-weighted assets for systemically important EU banks compared with those in the US.3

    Second, the scope of application of MREL requirements is wider than resolution-related LAC requirements in the US. The comparison is stark. Approximately 300 EU banks, including more than 80 large banking groups in the banking union, must meet MREL, calibrated to their expected treatment in the event of failure. It should be stressed that not all those banks are required to hold LAC in excess of own funds. That is the case of banks that are expected to be liquidated in the event of failure. However, in the US only the eight G-SIBs are subject to TLAC requirements. As a result, the EU banking sector is much less at risk of the insufficiencies identified in the US during the banking turmoil.

    I should note at this point, however, that there have been moves in the US to expand that scope with a proposal to require banks with $100 billion or more in assets to issue long-term debt sufficient to recapitalise the bank in resolution.4 The benefits put forward for the proposed measure include improving the resolvability of those large banks, reducing the risk of loss by uninsured depositors, giving greater scope for the FDIC to transfer all deposit liabilities and creating additional resolution options. The rule has not yet been adopted, and it is not clear what will emerge from the consultation process, but the arguments made to support the proposal are, I would argue, irrefutable. LAC is central to the credibility of resolution.

    Is there scope to revise MREL requirements downward?

    However, irrespective of the way in which US requirements may evolve, we want the EU framework to be a ground for stability and economic prosperity. It is therefore valid to ask whether the EU LAC requirements impose burdens on EU banks that could be alleviated by reducing MREL or simplifying how it is set.

    It is hard to argue that the MREL framework is not complex, and since it is impossible to calibrate LAC requirements with scientific precision, is that complexity necessary? Simplification is always desirable provided that the ultimate objective is not compromised.

    To answer this question, we need to look at the broader framework. Resolution is not credible or feasible without funding, but that funding can come from a range of sources. In addition to the LAC on the balance sheet of individual banks, those sources include resolution funds, deposit guarantee schemes (DGS) and governments. LAC pushes the costs of failure management on to the bank’s creditors and shareholders. Industry-sourced funding mutualises those costs across the banking sector, while public backstop funding channels costs to taxpayers, although they may ultimately be recovered from industry through levies or taxes.

    The balance between these possible sources of funding is a policy decision based on a number of political and technical considerations. The latter include the need to minimise moral hazard. In the EU, a clear decision has been taken that LAC should be the first line of defence and that access to mutualised funding sources should be significantly restricted.

    The Single Resolution Fund (SRF) is positioned as the second line of defence, after banks’ LAC. This resource can only be used in a resolution after prior loss-sharing by a bank’s shareholders and creditors. This principle is hard-wired into the framework through a mandatory writedown of at least 8% of the failing bank’s liabilities and own funds, and there is no flexibility to override this requirement.

    Moreover, while in principle feasible, there is little scope for the deposit guarantee funds to be used to support resolution. This is due to a least cost constraint that, as you all know well in this audience, becomes quite restrictive as a consequence of the super-preference of insured deposits within the EU.

    Finally, in resolution there is minimal scope for direct government support. Indeed, the Single Resolution Mechanism Regulation does not provide for the use of a government stabilisation tool, despite this option being included in the EU resolution recovery and resolution directive (BRRD) and therefore being available for EU countries outside the banking union.

    As a result of those tight constraints for the use of external funds to support resolution of banks in the banking union, comparatively more internal resources (ie LAC) may be required to execute their resolution strategy than would otherwise have been the case.

    In other jurisdictions, a different policy decision has been taken about the balance between the possible funding sources for bank failure management. For example, in the US the least cost constraint for the deposit insurer to fund resolution actions is, in practice, more flexible than in the EU because insured deposits rank equally with uninsured deposits under general depositor protection. Moreover, I have already mentioned that in March 2023, it was possible to override the US restrictions on resolution funding by the deposit insurer to address the systemic risk posed by those failures and compensate for the shortfall in the banks’ own LAC. The use of the systemic override is subject to a high procedural hurdle, designed to ensure that it is used only in exceptional circumstances. However, this “safety valve” is available under the US legal framework, backstopped by the US Treasury, and similar mechanisms are present in other jurisdictions.

    We could argue about the merits of introducing a degree of flexibility also in the EU, but the current situation was a deliberate decision by European legislators which is rooted in the institutional context of Europe. While the current EU framework is not necessarily optimal, it is internally consistent.

    This is not to say that change should not be considered. The Commission’s original CMDI package contained, in my view, some moderate and balanced proposals which, if adopted, could expand the resolution options for banks whose preferred resolution strategy is a sale of business.

    The original CMDI proposes to replace the current super-preference for DGS claims with a general depositor preference. Moreover, it suggests allowing the DGS contribution to resolution funding to count towards the 8% bail-in requirement. Those adjustments would directly alleviate the current constraints on the availability of external funding. Consistently with that, although this is not directly recognised in the CMDI text, there could be grounds to lower calibration of MREL with respect to current levels for a large portion of the banks that are subject to LAC in excess of own funds.

    I hope that the final agreement on the CMDI package will achieve the original purpose of facilitating funding for resolution. Yet the ongoing difficult debates that surround this legislation clearly illustrate the policy considerations that underlie the way in which funding sources are balanced in any jurisdiction’s legal framework.

    Conclusion

    This brings me back to the comparisons that are made with the US framework and the calls for MREL levels to be aligned. As a matter of principle, any material reduction in MREL would need to be compensated by other sources of funding, and in the EU those are comparatively limited at present.

    It could imply, for example, greater reliance on the SRF, by relaxing the conditions of access. To spell this out, reducing the amount of prior loss absorption increases the amount of external funding needed to execute the resolution strategy. This would mean that more costs are mutualised across the national banking sectors. Alternatively, lower MREL could be balanced by greater flexibility in public funding, including through the use of government stabilisation tools.

    Naturally, any of those measures would entail a significant modification of the political agreement that supported the current resolution regime. Therefore, MREL calibration may appear to be a technical exercise, but any material adjustment would require sensitive political choices.

    Many thanks.

    MIL OSI Economics –

  • MIL-Evening Report: ‘They cannot block us,’ says activist on Madleen flotilla aid ship to Gaza

    Pacific Media Watch

    One of the 12 activists on board the Gaza Freedom Flotilla aid vessel Madleen has posted an update on their progress, saying the mission would not be deterred by Israel’s threats to block them.

    In a video posted to X, Thiago Ávila said the crew, which includes high-profile Swedish climate activist Greta Thunberg, was not intimidated by a message they had received from Israel on Thursday, reports Al Jazeera.

    He said Israeli authorities had said that the Madleen, which is carrying food and medical supplies, would be blocked from entering Gaza — and that if they attempted to deliver them, they would come under attack.

    “It’s important that we understand that [Prime Minister Benjamin] Netanyahu and any other repressive regime throughout history, they actually fear the people, we do not fear them,” he said.

    “We know that this is part of a global uprising much larger than this humble mission of 12 people on a small boat. It will not be through force that they will make a way to defeat us.”

    While crossing international waters in the Central Mediterranean on its way to Gaza yesterday, the Madleen received a mayday call relayed through one of the Frontex drones operated by Europe’s border security agency.

    With no other vessel able to respond, the Madleen diverted to the distressed vessel, where it found 30 to 40 people trapped in a rapidly deflating dinghy.

    While the crew of the Madleen were attempting a rescue of their own, they were approached at speed by a unit of the Libyan Coast Guard, specifically one belonging to the Tareq Bin Zayed brigade, which Al Jazeera has previously reported upon.

    On realising that the approaching vessel belonged to the Libyan Coast Guard, four dinghy passengers jumped into the water and swam to the Madleen, where they were rescued.

    The remainder were taken on board the Libyan Coast Guard’s vessel and presumably returned to Libya.

    MIL OSI Analysis – EveningReport.nz –

  • NATO’s dilemma: how Zelenskiy can attend summit without provoking Trump

    Source: Government of India

    Source: Government of India (4)

    Officials organising a NATO summit in The Hague this month are expected to keep it short, restrict discussion of Ukraine, and choreograph meetings so that Volodymyr Zelenskiy can somehow be in town without provoking Donald Trump.

    Though the Ukrainian president is widely expected to attend the summit in some form, NATO has yet to confirm whether he is actually invited. Diplomats say he may attend a pre-summit dinner but be kept away from the main summit meeting.

    Whether the brief summit statement will even identify Russia as a threat or express support for Ukraine is still up in the air.

    The careful steps are all being taken to avoid angering Washington, much less provoking any repeat of February’s White House blow-up between Trump and Zelenskiy that almost torpedoed the international coalition supporting Kyiv.

    NATO’s European members, who see Russia as an existential threat and NATO as the principal means of countering it, want to signal their continued strong support for Ukraine. But they are also desperate to avoid upsetting a volatile Trump, who stunned them at a summit seven years ago by threatening to quit the alliance altogether.

    If Zelenskiy does not attend in some form, it would be “at least a PR disaster”, acknowledged a senior NATO diplomat.

    Since Russia’s invasion three years ago, Zelenskiy has regularly attended NATO summits as the guest of honour, where alliance members pledged billions in weapons and condemned Russia for an illegal war of conquest. Leaders repeatedly promised that Ukraine would one day join NATO.

    But since Washington’s shift under Trump towards partly accepting Russia’s justifications for the war and disparaging Zelenskiy, the 32-member alliance no longer speaks with a single voice about Europe’s deadliest conflict since World War Two. Trump has taken Ukraine’s NATO membership off the table, unilaterally granting Moscow one of its main demands.

    After dressing down Zelenskiy in the Oval Office in February, Trump cut vital U.S. military and intelligence support for Ukraine for days.

    Since then, the two men publicly mended fences in a meeting in St Peter’s Basilica for the funeral of Pope Francis. But mostly they have spoken remotely, with Zelenskiy twice phoning the White House on speakerphone while surrounded by four friendly Europeans — Britain’s Keir Starmer, France’s Emmanuel Macron, Germany’s Friedrich Merz and Poland’s Donald Tusk.

    SPENDING BOOST

    Trump is expected to come away from The Hague with a big diplomatic victory as NATO members heed his longstanding complaints that they do not spend enough on defence and agree a much higher target.

    They are expected to boost their goal for traditional military spending to 3.5% of economic output from 2%. A further pledge to spend 1.5% on related expenses such as infrastructure and cyber defence would raise the total to 5% demanded by Trump.

    But the summit itself and its accompanying written statement are expected to be unusually short, minimising the chances of flare-ups or disagreements. A pledge to develop recommendations for a new Russia strategy has been kicked into the long grass.

    Meanwhile, Zelenskiy may have to be content with an invitation to a pre-summit dinner, hosted by Dutch King Willem-Alexander, diplomats say.

    Unlike at NATO’s previous two annual summits, the leaders do not plan to hold a formal meeting of the NATO-Ukraine Council, the official venue for talks between the alliance and Kyiv. The senior NATO diplomat said a working dinner with either foreign ministers or defence ministers could instead serve as an NUC.

    ‘PROPERLY REPRESENTED’

    On Wednesday, NATO boss Mark Rutte said he had invited Ukraine to the summit, but sidestepped a question on whether the invitation included Zelenskiy himself.

    After meeting Rutte on Monday, Zelenskiy said on X that it was “important that Ukraine is properly represented” at the summit. “That would send the right signal to Russia,” he said.

    U.S. and Ukrainian officials did not reply to questions about the nature of any invitation to Ukraine.

    Some European countries are still willing to say in public that they hope to see Zelenskiy invited as the head of the Ukrainian delegation.

    Estonian Defence Minister Hanno Pevkur said he would like to see a “delegation led by President Zelenskiy”. Asked about an invitation for Zelenskiy, German Defence Minister Boris Pistorius said “I, for my part, strongly welcome the invitation” without giving further details.

    But diplomats have tried to play down the importance of the formal status of Zelenskiy’s role: “Many allies want to have Zelenskiy at the summit, but there is flexibility on the precise format that would allow his presence,” said a second senior NATO diplomat.

    A senior European diplomat said: “We should not get stuck on ‘NUC or no NUC’. If he comes to the leaders’ dinner, that would be the minimum.”

    (Reuters)

  • Northeast India poised for economic surge with robust infrastructure and investment

    Source: Government of India

    Source: Government of India (4)

    Northeast India is rapidly emerging as a powerhouse of economic growth and connectivity, driven by transformative infrastructure projects and strategic investments, according to a recent Press Information Bureau release. Under the leadership of the Ministry of Development of North Eastern Region (MDoNER) and guided by Prime Minister Narendra Modi’s “Act East” policy and “Transformation by Transportation” vision, the region is shedding its historical isolation to become a beacon of inclusive development.

    Significant budgetary allocations have fueled infrastructure advancements, addressing long-standing gaps in connectivity. The North East Special Infrastructure Development Scheme (NESIDS), restructured in 2022-23 and extended until 2026, has supported projects in roads, power, water supply, and other critical sectors. The Prime Minister’s Development Initiative for North East Region (PM-DevINE), launched in 2022 with a Rs 6,600 crore outlay, is driving sustainable development aligned with PM GatiShakti, focusing on infrastructure, social development, and livelihood opportunities for youth and women.

    Iconic projects like the Bogibeel Bridge, inaugurated in 2018, and the development of 10 greenfield airports over the past 11 years have revolutionized connectivity, boosting tourism in the region. The introduction of Roll-on Roll-off (Ro-Ro) waterway services on the Brahmaputra River, connecting Dhubri, Hathsingimari, and Guwahati, has enhanced logistics efficiency. A Rs 4,136 crore scheme approved in August 2024 for hydroelectric projects will support 15,000 MW of capacity by 2031-32, funded through the Ministry of Power’s Gross Budgetary Support.

    Economic development has been a key focus, with 974 industrial units registered under NESIDS and Rs 1,010.99 crore disbursed for developmental packages by March 31, 2025, including Rs 400 crore in 2024-25. The Rising North East Investors Summit, held on May 23-24, 2025, drew Rs 4.3 lakh crore in investment interest from over 80 countries, positioning the region as India’s next economic hub. The summit highlighted a decade-long investment of Rs 21,000 crore in the Northeast’s education sector. Additionally, 126 Externally Aided Projects worth Rs 1,35,487.85 crore have been supported since 2017, further catalyzing growth.

    The agricultural sector is thriving, with the region poised to lead India’s edible oil production and organic farming. The North Eastern Regional Agricultural Marketing Corporation Limited (NERAMAC) has expanded its product range from 38 to 78, introducing innovative items like Organic Tea Box and Sumac Berry Powder. The Van Dhan Vikas Yojana has empowered 3.3 lakh tribal gatherers through 19,155 self-help groups, while 434 Farmer Producer Companies have benefited 2.19 lakh farmers across 1.73 lakh hectares. The agarwood sector has seen a six-fold increase in export quotas, with simplified processes enhancing value chain development in Assam and Tripura.

  • MIL-OSI Russia: SCO Youth Representatives Visit Yucun Village in Zhejiang Province

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    Source: People’s Republic of China – State Council News

    HANGZHOU, June 6 (Xinhua) — Young representatives of the Shanghai Cooperation Organization (SCO) countries visited Yucun Village in Anji County, east China’s Zhejiang Province, on Wednesday.

    This small mountain village, widely known for its concept of “emerald waters and green mountains are priceless treasures”, is now becoming an important window for the exchange of eco-civilization construction experiences between China and foreign countries.

    Young representatives of political, academic and media circles from Belarus, Uzbekistan, Kyrgyzstan, Pakistan and other countries gathered together to participate in the event organized by the Chinese People’s Association for Friendship with Foreign Countries (CPAF) and entitled “Exploring the Path of Common Prosperity”.

    At the entrance to Yucun Village, they stopped to capture the clean, quiet streets and picturesquely located rural houses.

    Yucun used to live off stone mining, which led to the exposure of the mountain slopes and soil erosion. Guided by the concept of “emerald waters and green mountains are priceless treasures,” the villagers voluntarily abandoned the old way of “digging mountains and selling stone” and embarked on a new path that prioritizes ecology and green development.

    Since 2005, Yucun has been actively developing new forms of economy such as rural tourism and creative agriculture.

    In 2024, the total operating income of the village reached 11.316 million yuan. Anji County also established a county-level platform for purchasing and trading bamboo forest carbon credits, which increased the annual trading volume of carbon credits to 350 thousand tons, bringing long-term benefits to farmers.

    The guide, using an old photograph and a new panorama of the village as a basis, told the young guests in detail about the path of transformation of the village. At the foot of the green mountains, surrounded by greenery, the youth listened, asked questions, trying to catch the pulse of green development.

    “This path has similarities with the development of some mountainous areas in our country,” said the young man from Uzbekistan. In recent years, Uzbekistan has also been exploring new models for integrating ecotourism and traditional agriculture, and Yucun’s experience here could not have come at a better time.

    Entering the Anji County Exhibition Center of “Replacing Plastic with Bamboo”, young people looked closely at the exquisite bamboo products: disposable straws, biodegradable chopsticks, bamboo fiber clothing… Everywhere, greenery and ingenious design made people linger, tradition intertwined with modernity, and the green concept organically intertwined with daily life.

    The delegation also visited green industry projects such as local guest houses, residential complexes for young highly qualified personnel, and a tourist center.

    In recent years, China’s cooperation with SCO countries in areas such as ecological agriculture, clean energy and environmental management has been expanding. From green industry to green finance, from environmental training to policy dialogue, “green” has become an important link in the exchange of experience and mutual learning between China and other countries. -0-

    MIL OSI Russia News –

  • MIL-OSI Russia: Xi Jinping Receives 11th Panchen Lama Ertni Choelkyi-Kyalbo /detailed version-1/

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    Source: People’s Republic of China – State Council News

    BEIJING, June 6 (Xinhua) — Chinese President Xi Jinping on Friday called on the 11th Panchen Lama, Ertnyi Choelkyi Kyalbo, to make greater contributions to promoting ethnic unity and religious harmony and ensuring stability, development and progress in southwest China’s Xizang Autonomous Region.

    Xi Jinping, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, made the call while receiving the 11th Panchen Lama, Ertnyi Choelkyi Kyalbo, at the Zhongnanhai Palace in Beijing. -0-

    MIL OSI Russia News –

  • MIL-OSI Russia: Lake Xingkai imposes 40-day fishing ban

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    Source: People’s Republic of China – State Council News

    BEIJING, June 6 (Xinhua) — A 40-day fishing ban was officially imposed on Lake Xingkai (Khanka), located on the China-Russia border, on Friday.

    According to the Zhongxinshe news agency, more than 200 Chinese fishing vessels have already left their fishing areas.

    According to the study, there are 65 species of fish in Lake Xingkai. In order to ensure biodiversity and promote sustainable fisheries development, a seasonal ban on fishing in the lake has been in place since 1952.

    From June 6 to July 15, all fishing on the lake will be prohibited, the local public safety department reminded.

    In order to tighten the fight against poaching and ensure security, border control officers have increased patrols in the lake area. -0-

    MIL OSI Russia News –

  • MIL-OSI Russia: China ready to work with Canada to promote sustainable improvement of bilateral relations: Chinese Premier

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    Source: People’s Republic of China – State Council News

    BEIJING, June 6 (Xinhua) — China is willing to work with Canada in the spirit of looking to the future to push forward the steady improvement of bilateral relations, lead them to the track of healthy and sustainable development, and pursue win-win cooperation, Chinese Premier Li Qiang said Friday.

    In a telephone conversation with Canadian Prime Minister Mark Carney, initiated by the latter, Li Qiang noted that Canada was one of the first Western countries to establish diplomatic relations with the People’s Republic of China. For a long time, these bilateral relations were at the forefront of China’s relations with Western countries, but in recent years they have encountered serious difficulties, he added.

    The development of China and Canada presents opportunities rather than threats to each other, Li Qiang said, noting that there is no fundamental conflict of interest between the countries, only a tradition of friendship and mutual benefit.

    The Premier expressed hope that the Canadian side will make joint efforts with China, objectively and rationally assess China’s development, and work together to achieve common success and prosperity.

    According to Li Qiang, China-Canada cooperation has great potential as the two countries’ economies complement each other to a great extent. He called on both sides to deepen cooperation in traditional areas, expand cooperation in new areas such as green energy, climate change and scientific and technological innovation, and strengthen people-to-people, economic and trade exchanges.

    The Chinese Premier called on the governments of both countries to listen to the opinions of their peoples, respond to their concerns and do more to strengthen bilateral friendly cooperation, mutual understanding and trust.

    China is willing to cooperate with Canada on the basis of equality and mutual respect, seek and expand common ground while eliminating and narrowing differences, strengthen exchanges and dialogue in various fields, and give due consideration to each other’s concerns, Li Qiang said.

    He also noted that China is willing to work with Canada to jointly safeguard multilateralism and free trade, promote economic globalization and the development of the multilateral trading system in the right direction, and bring greater stability to the world and development of the planet.

    In turn, M. Carney said that Canada and China are linked by deep traditional friendship, and China is Canada’s second largest trading partner. According to him, although bilateral relations have experienced some difficulties in recent years, Canada is ready to resume ties with China.

    The Canadian side looks forward to resuming high-level exchanges and dialogue mechanisms in areas such as diplomacy, economics and trade, as well as strengthening pragmatic cooperation in trade, agriculture, energy and environmental protection, the Canadian prime minister added.

    In light of the current international situation, Canada stands ready to strengthen ties and coordination with China, jointly safeguard the international financial and trading system, and contribute to global sustainable development, said M. Carney. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: Xi Jinping congratulates K. Nawrocki on his election as President of Poland

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    Source: People’s Republic of China – State Council News

    BEIJING, June 6 (Xinhua) — Chinese President Xi Jinping on Friday sent a congratulatory message to Karol Nawrocki on his election as president of Poland.

    In his message, Xi Jinping noted that Poland was one of the first countries to recognize and establish diplomatic relations with the People’s Republic of China. The two countries are linked by traditional friendship and are comprehensive strategic partners.

    The Chinese leader stressed that in the 76 years since the establishment of diplomatic relations, the two countries have adhered to the principle of mutual respect, treated each other as equals and achieved fruitful results in various areas of mutually beneficial cooperation.

    According to the Chinese President, in the context of the turbulent and changing international situation, China and Poland, as friendly partners, should further deepen political mutual trust and strengthen strategic communications.

    Xi Jinping noted that he attaches great importance to the development of China-Poland relations and is willing to cooperate with K. Nawrocki to promote the sustainable development of the bilateral comprehensive strategic partnership, benefit the peoples of both countries, and make further contributions to global stability and certainty. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: China’s railway passenger traffic to exceed 4.3 billion person-times in 2024

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    Source: People’s Republic of China – State Council News

    BEIJING, June 6 (Xinhua) — China’s railway passenger traffic reached 4.31 billion in 2024, up 11.9 percent year on year, according to the 2024 statistics released by the State Railway Administration (SRA).

    According to the agency, in 2024 the total volume of freight traffic increased by 2.8 percent year-on-year and amounted to 5.18 billion tons.

    Fixed asset investment in the railway sector reached 850.6 billion yuan (about 118.4 billion US dollars). During the year, 3,113 km of new railway lines were put into operation, including 2,457 km of high-speed lines.

    As of the end of 2024, the total length of China’s railways in operation reached 162,000 km, including 48,000 km of high-speed railways.

    During 2024, the railway system operated reliably, stably and orderly, and no major accidents were recorded, the state administration emphasized. -0-

    MIL OSI Russia News –

  • MIL-OSI Canada: Funding Available for Shoreline Cleanup, Debris Recycling, Litter Prevention

    Source: Government of Canada regional news

    Seafood industry and sportfishing associations, community groups and other organizations can once again access funding to support ocean and shoreline cleanup projects throughout Nova Scotia.

    “Clean coastlines benefit local communities and enhance the reputation of our seafood industry as a provider of top-quality products,” said Kent Smith, Minister of Fisheries and Aquaculture. “Our goal is to limit the amount of debris that reaches the shore and increase recycling from cleanup initiatives.”

    Funding is available through the Marine Debris Clean-up Program for:

    • shoreline cleanups – up to a maximum of $2,000 per event; applications will be accepted until February 1, 2026, or until all available funds are allocated
    • litter prevention projects – up to 50 per cent of eligible costs, to a maximum of $3,000 per project; applications are open until June 30, as part of a competitive selection process
    • marine debris recycling – up to 50 per cent of eligible costs, to a maximum of $5,000 per project; applications are open until June 30, as part of a competitive selection process.

    More information about the program and applying is at: https://novascotia.ca/fish/marine-clean-up/.

    Quotes:

    “Through continued support from the Marine Debris Clean-up Program, Coastal Action has been able to continue a range of projects that not only target persistent marine debris on Nova Scotia’s shorelines, but also strengthen our relationships with local partners. The program has been supportive in helping us work towards solutions on the ground and inspire more collaboration toward cleaner coastlines and responsible disposal.”
    — Kelly Mackarous, Coastal and Marine Program Manager, Bluenose Coastal Action Foundation

    Quick Facts:

    • Sunday, June 8, is World Ocean Day
    • Nova Scotia has 13,000 kilometres of coastline
    • the Marine Debris Clean-up Program supports efforts, in partnership with seafood industry associations, to clean Nova Scotia’s shorelines of debris and help protect the environment
    Other than cropping, Province of Nova Scotia photos are not to be altered in any way.

    MIL OSI Canada News –