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Category: Banking

  • MIL-OSI: Taglich Brothers Initiates Coverage of Banzai International, Inc.

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, July 31, 2025 (GLOBE NEWSWIRE) — Taglich Brothers, Inc. announces that it has initiated coverage of Banzai International, Inc. (NASDAQ: BNZI).

    Banzai International, Inc., headquartered in Bainbridge Island, WA, is a software-as-a-service marketing technology (MarTech) company that provides data and AI-driven marketing and sales solutions for businesses of all sizes. The company’s long-term vision is to assist its clients accomplish their mission by enabling enhanced marketing, sales, and customer engagement outcomes through increasingly sophisticated AI-driven analytics and data-driven applications. BNZI is in the process of consolidating mission-critical, sub-scale AI-driven MarTech platform offerings within areas of customer acquisition, customer engagement, and data analytics for campaign optimization, which should drive increased annualized recurring revenue sales through cross-selling opportunities of a larger suite of technology platform offerings.

    The complete 19-page report is available at https://www.taglichbrothers.com/

    Taglich Brothers, Inc. is a full-service broker dealer focused exclusively on microcap companies. The Company defines the microcap segment of the equity market as companies with less than $250 million in market capitalization. Taglich Brothers currently offers institutional and retail brokerage services, investment banking and comprehensive research coverage to the investment community.

    We do not undertake to advise you as to changes in figures or our views. This is not a solicitation of any order to buy or sell. Taglich Brothers, Inc. is fully disclosed with its clearing firm, Axos Clearing, LLC, is not a market maker and does not sell to or buy from customers on a principal basis. The above statement is the opinion of Taglich Brothers, Inc. and is not a guarantee that the target price for the stock will be met or that predicted business results for the company will occur. There may be instances when fundamental, technical and quantitative opinions contained in this report are not in concert. We, our affiliates, any officer, director or stockholder or any member of their families may from time to time purchase or sell any of the above-mentioned or related securities. Analysts and members of the Research Department are prohibited from buying or selling securities issued by the companies that Taglich Brothers, Inc. has a research relationship with, except if ownership of such securities was prior to the start of such relationship, then an Analyst or member of the Research Department may sell such securities after obtaining expressed written permission from Compliance. As of the date of this report, we, our affiliates, any officer, director or stockholder, or any member of their families do not have a position in the stock of the company mentioned in this report. Taglich Brothers, Inc. does not currently have an Investment Banking relationship with the company mentioned in this report and was not a manager or co-manager of any offering for the company within the last three years.

    All research issued by Taglich Brothers, Inc. is based on public information. In July 2025, the company paid Taglich Brothers a monetary fee of $9,000 (USD) representing payment for the creation and dissemination of research reports for three months. Three-months after publication of the initial report (November 2025), the company will begin paying Taglich Brothers a monthly monetary fee of $3,000 (USD) for the creation and dissemination of research reports for a minimum of twelve months after the date the initiation report is first published.

    Contact:
    Rick Oh
    Taglich Brothers, Inc.
    631-757-1500

    The MIL Network –

    August 5, 2025
  • MIL-OSI Banking: RBI to conduct 7-day Variable Rate Reverse Repo (VRRR) auction under LAF on August 01, 2025

    Source: Reserve Bank of India

    On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo (VRRR) auction on Friday, August 01, 2025, as under:

    Sl. No. Notified Amount
    (₹ crore)
    Tenor (day) Window Timing Date of Reversal
    1 2,00,000 7 9:30 AM to 10:00 AM August 08, 2025
    (Friday)

    2. The operational guidelines for the auction as given in the Reserve Bank’s Press Release 2019-2020/1947 dated February 13, 2020 will remain the same.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/819

    MIL OSI Global Banks –

    August 5, 2025
  • MIL-OSI: Introducing 1 Hour Payday Loans Online from 1F Cash Advance! Experience Instant Approval Loans with No Credit Check and Get Your Quick Cash the Same Day You Apply

    Source: GlobeNewswire (MIL-OSI)

    BOULDER, Colo., July 31, 2025 (GLOBE NEWSWIRE) — 1F Cash Advance, a responsive fintech committed to delivering fast, people-focused financial solutions, today announces the nationwide launch of its enhanced 1-Hour Payday Loan product. Designed to support Americans with bad credit facing unexpected expenses, the product offers quick financial relief. It addresses record-high financial stress levels affecting households across the country.

    Get Cash in 1 Hour – Apply for a Payday Loan Today!

    1F Cash Advance leverages AI and machine learning to evaluate a broader range of data points, such as social media activity, online transaction patterns, and utility payments, to assess borrower creditworthiness. This innovative approach eliminates the need for a traditional credit check, a benefit that is appreciated by people with limited or poor credit history who are often rejected by banks.

    Using advanced AI analytics, 1F Cash Advance creates personalized loan packages tailored to each borrower’s unique financial profile and needs. This ensures borrowers receive customized solutions rather than standardized, one-size-fits-all offers.

    “Our 1-hour payday loans are built for speed. You apply online, answer a few quick questions, and hear back in minutes,” says Marsha Welch, financial expert at 1F Cash Advance. “The whole idea is to resolve the emergency immediately before it turns into something more serious.”

    As financial demands become more varied and time-sensitive, 1F Cash Advance has expanded its offerings, developing multiple loan options that address a wide range of everyday challenges:

    Today, the urgency and scale of consumer financial insecurity have intensified throughout 2024 and into 2025. The following statistics illustrate this trend:

    • Consumer prices rose by 3.0% over the year leading up to January 2025, according to the U.S. Bureau of Labor Statistics. Many families are still feeling the pressure, even though inflation isn’t as high as it was in 2022.
    • About 37% of Americans say they wouldn’t be able to handle a $400 emergency expense, based on a Federal Reserve report.
    • More than 12 million people now rely on short-term payday loans each year. Just three years ago, that number was around 900,000.

    1-hour payday loans fit today’s fast-paced lifestyle, letting qualified borrowers get $100 to $1,000 almost instantly. You receive a guaranteed approval with no credit check and repay the loan by your next paycheck. The goal: to help Americans manage pressing financial obligations, such as rent, utilities, medical bills, or car repairs, without unnecessary delays or burdensome red tape.

    Apply Now for a 1 Hour Payday Loan – Quick Approval, Instant Relief!

    Unlike conventional loans, which often require collateral or an extensive credit history, these cash advances are unsecured and highly accessible. Applicants need only meet basic eligibility criteria: be a legal adult with a government-issued ID, a consistent income stream, and an active checking account.

    1F Cash Advance utilizes automated systems to verify income and banking history in real-time, without relying on full credit reports. Once approved, funds are deposited directly into the customer’s bank account the same day.

    “It’s a practice that keeps doors open to more people, even for those with bad credit history,” says Latoria Williams, founder & CEO at 1F Cash Advance. “In many cases, approvals arrive in as little as 15 minutes, and the money is on its way before the end of the day.”

    “Speed matters when you’re staring down a utility shutoff or an urgent repair,” adds Marsha Welch. “But clarity is just as important. Even a fast form at 1F Cash Advance is still a legal contract.”

    What makes 1-hour payday loans so appealing is their simplicity: one online form replaces piles of paperwork, no collateral changes hands, and everything stays confidential. The company believes it provides a modern alternative to borrowing from friends or paying overdraft fees, especially for households with tight budgets.

    For many, bridging a short-term cash gap with a clear, straightforward option is well worth the service cost. While fees typically range from $10 to $30 per $100 borrowed, responsible borrowing and transparent terms keep the process manageable. Edward Evans, managing editor and money management expert at 1F Cash Advance, argues that clear disclosures and automated underwriting keep the process transparent: “Fast money should never mean hidden terms. Our goal is relief today without regret tomorrow.”

    From the Field: Statistics & Real Voices of Local Managers

    Experts from 1F Cash Advance analyzed data from their offices nationwide to determine the source of online applications. The leaders were Texas, California, Florida, and Mississippi; these four states account for the majority of commission fees. 1F Cash Advance experts predict that this figure will grow even more in 2024 after receiving final data.

    Usage maps highlight strong demand across the South, Midwest, and Western states. Meanwhile, in regions like New York, Massachusetts, West Virginia, and Oregon, where lending rules are more restrictive, activity remains minimal.

    “1-hour payday loans requests have increased by about 40% over the past two months. Most are for repairs, vehicle or HVAC, a consistent theme.” – José Ramirez, manager from the Texas office.

    “High cost of living in LA and the Bay Area means urgent needs crop up often. We’ve seen overdraft protections and quick payday solutions become essential tools.” – Priya Singh, manager from the California location

    “Midwestern tight budgets show demand for low-sum advances, typical borrowings are $300–$500, often for auto or rent.” – Mark Walters, loan officer from the Ohio store

    “Tourism jobs with irregular pay cycles push us into gig-focused solutions. Approvals are up 35% year‑over‑year.” – Maria Lopez, manager from the Florida store

    1F Cash Advance has emerged as a nimble fintech leader in an industry now serving over $21 million annually in short-term loans.

    Their early adoption of immediately payout technology, combined with strong compliance controls and credit risk data analytics, positions us for rapid scaling. Key metrics include:

    • Year-over-year loan volume increased by 75% in Q1 2025.
    • Net default rate held below 8%, significantly lower than the 15–20% industry average.
    • Customer retention rate exceeds 60%, with high repeat usage among borrowers with stable repayment histories.

    Regional differences in short-term lending come down to two main factors: what states allow and local economic conditions. Texas and Mississippi have looser rules, so people use 1-hour payday loan services more. New York, Massachusetts, and Oregon have strict laws that basically shut down access.

    The economy plays a big role too. California and Florida have tons of gig workers – Uber drivers, delivery people, restaurant staff – who never know what their next paycheck will look like. In tourist areas like Florida and parts of Tennessee, work is seasonal and people get stuck between jobs. Rural areas down South and in the Midwest deal with bad credit and high unemployment, so folks can’t get regular bank loans.

    Things might change next year. Some Midwest states are talking about copying Illinois and capping rates at 36%. 1F Cash Advance worry’s this could backfire – if rates get too low, people might end up borrowing from sketchy offshore websites instead.

    Rising Demand for 1-Hour Payday Loans: Key Reasons

    All signs indicate that the demand for 1-hour Payday Loans will grow, and there are several reasons for this.

    On May 29, 2025, a federal appeals court allowed President Trump’s 10% import tariff to remain in place while legal battles continued. As a result, many retailers are warning customers to expect higher prices on everyday goods as additional costs are passed through the supply chain.

    And Americans are already reacting. According to 1F Cash Advance, 1-hour payday loan inquiries increased by 19% in just one week following the court decision.

    “When prices rise before paychecks do, families look for fast cash that arrives the right now,” explains Latoria Williams.

    Additionally, the gig economy continues to expand. Upwork’s Freelance Forward report reveals that 38% of U.S. workers, about 64 million people, now earn their main income through freelance or gig work. These workers don’t receive paid time off and often wait for client payments, meaning their income can fluctuate significantly from one week to the next.

    “Freelancers can plan their budget, but they can’t lock in a payday,” says Edward Evans. When a client pays late, even a quick $300 advance can be the difference between missing rent and staying on track with repairs. Technology is making access to emergency funds even easier — another reason why interest is growing.

    How Technology Redefining 1-Hour Payday Loans

    As AI-powered approval tools and real-time access to banking data gain traction, a new era of financial inclusion and responsiveness is emerging. Technologies like FedNow®, the Federal Reserve’s real-time payment service, are paving the way for 24/7 banking, including nights and weekends — a significant step forward in meeting the demands of today’s digital-first economy.

    Artificial intelligence is transforming the way creditworthiness is assessed. Instead of relying solely on traditional FICO scores, modern AI models evaluate a broader range of financial behaviors, such as transaction history, income stability, and bill payment patterns. This shift expands access to credit for millions who were previously overlooked by traditional systems, especially gig workers and individuals with non-traditional income streams.

    The launch of FedNow® brings true real-time payments to the U.S. financial system. For consumers, this means instant access to funds — whether it’s loan disbursements, paychecks, or repayments. For lenders, it enables a smooth and efficient flow of capital, improving both borrower satisfaction and operational processes.

    These innovations are particularly important for underbanked populations and gig workers, who often face inconsistent income and limited access to credit. Borrowers with poor credit can get guaranteed approval through AI-driven decisions and instant funding. Flexible repayment schedules match their payday or gig income, making it easier to manage unique financial needs.

    How These Advances Position 1F Cash Advance

    All this tech progress means 1F Cash Advance can offer 1-hour loan services that actually work. They’re not just promising speed — they can deliver it. Here’s how they stack up against your other options when you need cash fast:

    Feature 1F Cash Advance Traditional Banks Credit Cards Other Payday Lenders
    Approval Speed Within 15 minutes Days to weeks Instantly if approved Same day or next day
    Funding Time Usually within 24 hours or the same day  1–5 business days Immediately usable Often same-day
    Transparency Clear fees & terms upfront Regulated disclosure Hidden fees, variable APR Often vague or misleading
    Credit Score Impact Soft check or none Hard check, strict Depends on usage No credit check advertised
    Accessibility Online, low barriers High credit & income reqs Credit-dependent Widely available
    Loan Amounts $100–$5,000 typical $1,000–$50,000 Based on the limit $100–$1,500
    Repayment Flexibility Flexible terms Strict terms High interest if unpaid Lump sum or rollover fees
    Use Case Fit Emergency, short-term needs Large, planned expenses Ongoing purchases Emergency, short-term
             

    Quick Cash in Just 1 Hour – Payday Loans with Guaranteed Approval!

    Look, what used to be cutting-edge is becoming standard. Everyone expects faster service now, whether it’s food delivery or getting a loan with no credit check. The combination of smart AI approval systems and instant payments means companies like 1F Cash Advance can actually help people who banks won’t touch. And when you need money in an hour, that tech backbone is what makes 1-hour payday loans reliable instead of just another empty promise.

    About 1F Cash Advance

    Founded in 2019, 1F Cash Advance was created to help consumers access the funds they need and overcome everyday financial emergencies. The company operates under fair lending laws and uses encryption technologies to protect customer data.

    Headquartered in Boulder, CO, 1F Cash Advance combines digital convenience with local accessibility. In addition to its nationwide online service, the company operates over 80 physical locations across the U.S., including in Texas, Nevada, Kansas, and Tennessee.

    Committed to transparency and customer care, 1F Cash Advance has earned high trust ratings and consistently positive reviews from its clients.

    Media Contact Info

    Mailing Address

    1F Cash Advance, LLC

    1942 Broadway St., STE 314C Boulder, CO 80302

    Main Office Location

    2770 Canyon Blvd, Boulder, CO 80302

    Website: https://1firstcashadvance.org

    E-mail: info@1firstcashadvance.org

    Phone:  (720) 428-2247

    Social Media:

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/49624086-d128-46fd-8edb-9d978d3c425d

    The MIL Network –

    August 5, 2025
  • MIL-OSI USA: Rep. Adam Smith Responds to WSJ Op-Ed, Calls for Immediate Humanitarian Ceasefire and a New Path Forward in Gaza

    Source: United States House of Representatives – Congressman Adam Smith (9th District of Washington)

    SEATTLE, WA – Today, Representative Adam Smith (D-Wash.) issued the following statement in response to the ongoing war in Gaza and a recent Wall Street Journal op-ed by William A. Galston titled “Hamas Will Never Surrender,” calling for Israel to accept a ceasefire in return for the release of hostages, and a new strategy to rebuild Gaza and empower credible Palestinian governance: 

    “William Galston’s op-ed in the Wall Street Journal acknowledges a hard truth: Hamas will never surrender. That truth underscores the urgent need for a fundamental shift in strategy. After nearly two years of war, it’s clear that the complete destruction of Hamas is not a feasible or sustainable goal and the cost of continuing to try is far too high. 

    “Hamas is a terrorist organization and bears full responsibility for the horrific October 7 attacks. But continuing this war indefinitely, with devastating consequences for innocent Palestinian civilians, will not bring peace or security to Israel or the region. 

    “There are Palestinians who reject Hamas’s violence and extremism and they must be empowered to lead. A new path forward is the only way to achieve long-term peace and security. The current course of continued military operations, displacement, and indefinite occupation risks even greater instability, can undermine key regional partnerships, and diminishes Israel’s moral and strategic standing. 

    “It is time for an immediate ceasefire to address the humanitarian crisis and for Israel to accept a permanent ceasefire in exchange for the return of the remaining hostages. Israel must begin working with the United States, Arab partners, and the international community to support credible Palestinian alternatives to Hamas to govern Gaza and the West Bank. 

    “We can continue to support Israel’s right to defend itself while recognizing that the military campaign has reached its limits. The time has come to shift from endless war to a political strategy that brings hostages home, delivers humanitarian relief, and builds the foundations for lasting peace. The United States must lead that effort.” 

    MIL OSI USA News –

    August 5, 2025
  • MIL-OSI Africa: 2025 Country Focus Report: Burkina Faso urged to make better use of national resources to finance its development

    Source: APO

    The African Development Bank’s 2025 Country Focus Report for Burkina Faso (www.AfDB.org), the national version of the African Economic Outlook, was officially launched on 18 July 2025 in Ouagadougou.

    The ceremony was chaired by Souleymane Nabolé, Technical Advisor, representing the Minister of Economy and Finance, in the presence of Daniel Ndoye, the Bank Group’s Country Manager for Burkina Faso. Run virtually, the session brought together more than 80 participants from the public administration, technical and financial partners, the research community and the private sector, as well as Bank executives.

    In a video message, Professor Kevin Urama, Chief Economist and Vice President for Economic Governance and Knowledge Management at the African Development Bank, reiterated that Country Focus Reports are designed to inform national policies and foster dialogue between states and their partners.

    The 2025 edition of the report focuses on the theme: “Making Burkina Faso’s Capital Work Better for its Development.” It analyses the country’s recent macroeconomic performance amid a complex security and humanitarian crisis, while presenting medium-term prospects and strategic directions to accelerate economic transformation.

    According to the Bank, the Burkinabe economy continued to expand in 2024, despite persistent security, humanitarian, and climate-related challenges. Burkina Faso is blessed in terms of natural, human, entrepreneurial, and financial capital, which if fully taken advantage of could bridge the country’s financing gap.

    The Burkinabe government concurs with this analysis. According to Nabolé: “Macroeconomic indicators are improving, with growth estimated at five per cent in 2024. To have a significant impact on the social front, we need to think about how the transformation of the Burkinabe economy can be achieved by drawing on human, natural, and financial resources, socio-economic infrastructure, and governance.”

    To bridge the financing gap, the report proposes several courses of action, including:

    • Improving agricultural productivity and promoting agro-industrial development
    • Strengthening mining revenue collection mechanisms and combating illicit financial flows
    • Enhancing access to education, health care, and vocational training
    • Building the capacities of the tax and customs administrations and the Ministry of Mines
    • Enhancing state oversight bodies, modernising the judicial system, and improving forest management.

    Abdoulaye Diop, President of the West African Economic and Monetary Union Commission, praised the Bank’s holistic approach stating that it “maximises the conditions for success and improved performance of national economies.”

    He also highlighted the resilience of the Burkinabe economy, which has remained robust despite a difficult security environment. “In terms of domestic resource mobilisation, Burkina Faso is currently the best performer in our Union with a tax ratio of nearly 19 per cent. In addition, for several years now, it has been one of the countries most committed to implementing Union legislation. That deserves the attention of partners.”

    Specific presentations focused on the need to strengthen the harnessing of domestic resources to offset the decline in external aid and financing, to make better use of human capital, to develop mineral resources to fund development, and to improve governance in the way in which various forms of capital are managed.

    At the end of the session, Ndoye expressed his delight at the elevated level of participation and the quality of the discussions. “We commend the country’s performance, particularly in terms of harnessing resources,” he said, concluding, “We noted a convergence between the report’s conclusions and recommendations and the strategies currently being implemented in Burkina Faso, particularly those with a focus on human capital.

    In parallel, Nabolé reiterated the Burkinabe government’s satisfaction with the quality of its cooperation with the African Development Bank.

    Distributed by APO Group on behalf of African Development Bank Group (AfDB).

    Media contact:
    Communication and External Relations Department
    media@afdb.org

    About the African Development Bank Group:
    The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org

    Media files

    .

    MIL OSI Africa –

    August 5, 2025
  • MIL-OSI United Kingdom: There must be no caveats for Palestinian state recognition

    Source: Scottish Greens

    29 Jul 2025 External Affairs

    Starmer must act without delay and end this shameful abandonment of a nation at risk of being extinguished by genocide

    More in External Affairs

    The UK Government’s promise to recognise Palestine as a state should not be conditional, say the Scottish Greens. 

    Today’s announcement by the Prime Minister saw Keir Starmer offer an opportunity for Palestine to be recognised as a state at the UN General Assembly in September, unless Israel enacts an immediate ceasefire, and commits to working towards a lasting two-state solution. He also said there must be no annexing of the West Bank.

    The Scottish Greens have always recognised the state of Palestine, separately from the state of Israel, and believe in the Palestinian people’s right to freedom, sovereignty and life without harm. We have continually called for an end to the occupation, and lasting peace for people in Gaza to rebuild their lives, and we will continue to do so. 

    Under the conditions set by Starmer, the state of Israel can decide to ignore his calls and continue carrying out horrific acts including displacement, murder and mass starvation of innocent civilians: children, adults and the elderly alike. 

    Scottish Greens co-leader Patrick Harvie MSP said:

    “Recognition of Palestine is decades overdue, and should not be conditional. It implies that if Israel agrees to pause the atrocities it’s committing, then the UK will in fact not join the majority of the world in recognising Palestine. This is an insult to the Palestinians’ right to self determination.

    “What we are witnessing are some of the worst war crimes recorded in recent history, often live streamed by the perpetrators, and they are happening almost completely unchecked. 

    “Gaza has been decimated, entire generations of families have been wiped out, and the most basic universal human rights have been stripped away from people. Keir Starmer’s words would carry some meaning if he immediately recognised the state of Palestine, called out the ongoing genocide, and stopped aiding and abetting the Israeli military by helping train their personnel or allowing UK-based arms dealers to sell them weapons for profit. 

    “There have been countless opportunities for this Labour government to give Palestinians state recognition, as well as the promise of lasting ceasefires that have not been upheld by the state of Israel. Starmer must act now, without delay, and end this shameful abandonment of a nation at risk of being extinguished by genocide.

    “Even if recognition for Palestine does come, it must be only the beginning – a moment when the international community steps in to stop the slaughter, end the occupation, and hold Israel’s leaders to account for their crimes in front of the International Criminal Court.” 

    MIL OSI United Kingdom –

    August 5, 2025
  • MIL-OSI Europe: EU banks continue to meet their MREL requirements set by Resolution Authorities on the basis of the identified resolution strategies

    Source: European Banking Authority

    The European Banking Authority (EBA) today published its Q4 2024 semi-annual Dashboard on the minimum requirement for own funds and eligible liabilities (MREL), which discloses aggregated statistical information for 345 banks earmarked for resolution across the European Union (EU) and for which the EBA has received data about both decisions and resources. All in all, banks meet their MREL requirements in line with the Bank Recovery and Resolution Directive (BRRD) deadline of 1 January 2024, as shortfalls are reported only by a few banks, mostly in their transition period towards future requirements. The amount of instruments becoming ineligible over the next year for the sample reached EUR 242bn.

    As of 31 December 2024, most banks met their MREL, including the combined buffer requirement (CBR). Only a small number of banks, mostly in their transitioning towards their final MREL targets, reported a shortfall, totalling EUR 2.3bn (or 2.1% of their combined risk-weighted assets).

    Banks in the sample reported EUR 242bn of MREL instruments that will become ineligible by the end of December 2025 due to their residual maturity falling below one year. These account for around 20% of MREL eligible instruments other than own funds.

    Bail-in strategies continue to be the preferred option in terms of RWAs (94%), whereas in terms of number of decisions, bail-in and transfer strategies rank on the same level (50% each). This reflects the fact that transfer strategies are favoured for smaller banks, while bail-in is the preferred option for the larger ones.

    More details on MREL roll over needs are covered in the Spring and Autumn editions of the EBA Risk Assessment Report.

    Note to the editors

    The EBA is mandated by the BRRD to monitor the setting of MREL by authorities and the build-up of related resources by institutions.

    MREL is the requirement that ensures that relevant EU institutions have sufficient loss absorbing capacity to support the execution of the preferred resolution strategy in case of failure.

    The BRRD set 1 January 2024 as a deadline to meet MREL requirements except for those banks that recently changed resolution strategy, or those eligible for an extension in accordance with Art.45m of the BRRD.

    Furter details on the transition period are provided in the EBA European Resolution Examination Programme (EREP). Discrepancies between the MREL Dashboard and the EREP MREL monitoring may reflect different reference dates. While the EREP is based on 2024 decisions only, the MREL Dashboard includes decisions in force as of 1 May 2025.

    MIL OSI Europe News –

    August 5, 2025
  • MIL-OSI: Middlefield Banc Corp. Announces Additions to Banking Team

    Source: GlobeNewswire (MIL-OSI)

    John Cunningham appointed Northeast Ohio Commercial Market Executive
    Thomas Young appointed Northeast Ohio Commercial Relationship Manager
    Nick Paradiso appointed Central Ohio Commercial Relationship Manager
    Middlefield also announces the retirement of Jack Gregorin Northeast Ohio Commercial Relationship Manager

    MIDDLEFIELD, Ohio, July 31, 2025 (GLOBE NEWSWIRE) — Middlefield Banc Corp. (NASDAQ: MBCN) today announced that John Cunningham has been appointed Northeast Ohio Commercial Market Executive, Thomas Young has been appointed Northeast Ohio Commercial Relationship Manager, and Nick Paradiso has been appointed Central Ohio Commercial Relationship Manager. These additions reflect Middlefield’s continued commitment to expanding its commercial banking capabilities and delivering strong relationship-driven services across its Ohio markets.

    The Company also announced the retirement of Jack Gregorin, after a 43-year banking career with the last seven years at Middlefield as the Company’s Northeast Ohio Commercial Relationship Manager.

    Ronald L. Zimmerly, Jr., President, and Chief Executive Officer, stated, “As we continue to invest in our commercial banking business, John, Tom, and Nick bring the experience, leadership, and deep community connections that will support our clients and strengthen our presence in our Northeast and Central Ohio markets. These appointments demonstrate our commitment to build high-performing teams across our Ohio communities and serve as a reliable financial partner to the region’s business community.”

    Zimmerly continued, “On behalf of the entire Middlefield family, I want to thank Jack for his years of service to the Bank. For 43 years, Jack has provided commercial customers throughout Ohio with integrity and proven financial advice. I wish Jack well on his next chapter.”

    John Cunningham Appointed SVP, Northeast Ohio Commercial Market Executive
    In this role, Cunningham will oversee Middlefield’s commercial growth strategy and relationship management across the Company’s Northeast Ohio footprint. With nearly 30 years of banking experience and a reputation for building high-performing teams, Cunningham brings significant expertise in commercial real estate and middle market banking. From 2021 to 2025, Cunningham was the SVP – Senior Managing Director, Commercial Real Estate at Premier Bank. Prior to this, he held positions at TCF Bank / Chemical Bank, The Home Saving and Loan Bank, Huntington National Bank, National City Bank, and Associates First Capital Corporation.

    As a Northeast Ohio native, Cunningham holds degrees from Miami University and Case Western Reserve University’s Weatherhead School of Business. Beyond banking, he’s a passionate supporter of the arts, having recently completed eight years of service as Trustee and Treasurer for the Valley Arts Center in Chagrin Falls.

    Thomas Young Appointed VP, Northeast Ohio Commercial Relationship Manager
    As VP, Northeast Ohio Commercial Relationship Manager, Young will focus on delivering strategic advice to business clients in the Northeast Ohio Region, helping them improve cash flow, finance key assets, and mitigate risk. With a strong analytical skillset and a passion for supporting business growth, Young has built a career helping clients navigate change and seize opportunity.   Most recently, he was VP, Senior Business Banking Relationship Manager at U.S. Bank from 2023 to 2025. His prior experience includes roles at First Federal of Lakewood, First National Bank of Pennsylvania, PNC Bank, FirstMerit Bank, Huntington National Bank, and KeyBank.

    Young holds degrees from Louisiana State University – Shreveport, and Myers University. He has also played a leadership role in local economic development, having served as Director and Past Board President of the Mentor Economic Assistance Corporation (MEACO).

    Nick Paradiso Appointed VP, Central Ohio Commercial Relationship Manager
    As VP, Central Ohio Commercial Relationship Manager, Paradiso will focus on delivering strategic advice to business clients within Central Ohio, helping them improve cash flow, finance key assets, and mitigate risk. With over 15 years of experience in banking, Paradiso is a seasoned commercial lender providing customized financing solutions to small and medium-sized businesses. Most recently, he was VP, Commercial Lending at Civista Bank from 2023 to 2025. His prior experience includes roles at LCNB National Bank, CFBank, Huntington National Bank, and Fifth Third Bank.

    Paradiso holds degrees from John Carroll University and the University of Dayton. He is active across the Columbus community and is currently a member of the Short North Rotary Club, Association for Corporate Growth, Columbus Italian Club, Franklinton Board of Trade, Ohio Business Brokers Association, and Columbus Chamber.

    About Middlefield Banc Corp.
    Middlefield Banc Corp., headquartered in Middlefield, Ohio, is the Bank holding Company of The Middlefield Banking Company, with total assets of $1.92 billion at June 30, 2025. The Bank operates 21 full-service banking centers and an LPL Financial® brokerage office serving Ada, Beachwood, Bellefontaine, Chardon, Cortland, Dublin, Garrettsville, Kenton, Mantua, Marysville, Middlefield, Newbury, Orwell, Plain City, Powell, Solon, Sunbury, Twinsburg, and Westerville. The Bank also operates a Loan Production Office in Mentor, Ohio.

    Additional information is available at www.middlefieldbank.bank

    FORWARD-LOOKING STATEMENTS
    This press release of Middlefield Banc Corp. and the reports Middlefield Banc Corp. files with the Securities and Exchange Commission often contain “forward-looking statements” relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of Middlefield Banc Corp. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors that could cause Middlefield Banc Corp.’s future results to differ materially from historical performance or projected performance. These factors include, but are not limited to: (1) a significant increase in competitive pressures among financial institutions; (2) changes in the interest rate environment that may reduce interest margins; (3) changes in prepayment speeds, charge-offs and loan loss provisions; (4) less favorable than expected general economic conditions; (5) legislative or regulatory changes that may adversely affect businesses in which Middlefield Banc Corp. is engaged; (6) technological issues which may adversely affect Middlefield Banc Corp.’s financial operations or customers; (7) changes in the securities markets; or (8) risk factors mentioned in the reports and registration statements Middlefield Banc Corp. files with the Securities and Exchange Commission. Middlefield Banc Corp. undertakes no obligation to release revisions to these forward-looking statements or to reflect events or circumstances after the date of this press release.

    Company Contact: Investor and Media Contact:
    Ron Zimmerly
    President and Chief Executive Officer
    Middlefield Banc Corp.
    (419) 673-1217
    RZimmerly@middlefieldbank.com
    Andrew M. Berger
    Managing Director
    SM Berger & Company, Inc.
    (216) 464-6400
    andrew@smberger.com

    Photos accompanying this announcement are available at
    https://www.globenewswire.com/NewsRoom/AttachmentNg/56766f6d-9249-44ca-8226-d735f1753dd7
    https://www.globenewswire.com/NewsRoom/AttachmentNg/9adb82cd-789f-4649-9e89-d04cfa08261b
    https://www.globenewswire.com/NewsRoom/AttachmentNg/e069967c-0af2-46c4-8ef6-d562ac773761

    The MIL Network –

    August 5, 2025
  • MIL-OSI USA: Gov. Kemp Announces 114 Appointments to Boards, Authorities, and Commissions

    Source: US State of Georgia

    Atlanta, GA – Governor Brian P. Kemp today announced 114 appointments and reappointments to various state boards, authorities, and commissions.

    Georgia Composite Medical Board

    Srenni Gangasani and David Retterbush were reappointed.

    Kamesha Harbison is a board-certified obstetrician-gynecologist serving the South Columbus community. She has provided women’s health care in the Chattahoochee Valley for over a decade, delivering comprehensive OB/GYN services and assisting with more than 1,000 births. She has also led community health initiatives, including organizing prenatal education and resource events for expectant mothers. Harbison began her career as a high school biology and chemistry teacher after earning a B.S. and M.Ed. from Xavier University of Louisiana. She later earned her medical degree from the University of Iowa Roy J. and Lucille A. Carver College of Medicine and completed her OB/GYN residency at Mercer University in Macon, Georgia. As an educator, she developed a mentoring program to address adolescent health, hygiene, and goal setting—laying the foundation for her transition into women’s healthcare. She is recognized for her commitment to patient education, community outreach, and improving health outcomes for women across the region.

    State Workforce Development Board

    Bárbara Rivera Holmes was sworn in as the 11th Commissioner of the Georgia Department of Labor and the state’s first Latina constitutional officer on April 4, 2025, by Georgia Gov. Brian Kemp. Holmes’ extensive experience includes appointments by former Gov. Nathan Deal to the Board of Regents of the University System of Georgia, which oversees Georgia’s 26 public colleges and universities, and by former Lt. Gov. Geoff Duncan as co-chair of the Georgia Innovates Task Force, which helped design the state’s technology blueprint. A former journalist, Holmes has earned awards for excellence in journalism from the Georgia Associated Press. She holds degrees in journalism and Spanish from Florida Southern College and studied at Estudio Sampere Internacional in Spain. A native of San Juan, Puerto Rico, Holmes resides in Albany with her husband, David, and their daughter.

    Steve Bradshaw served eight years on the DeKalb County Board of Commissioners. First elected in 2016, he was re-elected in 2020 without opposition. During his tenure, he was twice unanimously elected by his colleagues to serve as Presiding Officer of the Board. He also chaired several key committees, including Finance, Audit and Budget; Public Works and Infrastructure; and County Operations. Prior to public service, Bradshaw spent more than 15 years in the private sector in operations management and business development roles, most recently as business development manager for Delta Global Staffing, a subsidiary of Delta Air Lines. Bradshaw began his professional career as a U.S. Army officer as a tank commander. He served in both domestic and international assignments, including deployment to the Middle East during the First Persian Gulf War. His final military post was as a leadership instructor at the Army Officer Candidate School. He holds a master’s degree in public administration from Georgia State University and later served as an adjunct professor in the university’s Andrew Young School of Policy Studies, teaching both undergraduate and graduate students.

    Hearing Panel of the Judicial Qualifications Commission

    Richard Hyde was reappointed.

    Georgia Board of Examiners of Licensed Dietitians

    Cicely Thomas was reappointed.

    Alison Sturgill is a licensed and registered dietitian with over a decade of clinical experience specializing in oncology nutrition. She currently serves as a clinical dietitian IV at the Emory Proton Therapy Center, where she provides medical nutrition therapy to patients undergoing radiation treatment for various cancers. Previously, she held a similar role at Emory University Hospital, where she led inpatient oncology nutrition care and served as a preceptor and educator for dietetic interns. Sturgill holds both a Master of Science and a Bachelor of Science in Nutrition from Murray State University and is a Certified Specialist in Oncology Nutrition (CSO). Her work has been published in the Journal of Nursing Care Quality, and she remains active in multiple professional organizations, including the Academy of Nutrition and Dietetics.

    Franklin D. Roosevelt Warm Springs Memorial Advisory Committee

    Eric Bentley is retired from the Georgia Department of Natural Resources with over three decades of service to Georgia State Parks and Historic Sites, including a deep and enduring connection to the Little White House State Historic Site. A graduate of the University of Georgia with a degree in forest resources, Bentley began his career at Unicoi State Park before serving in various leadership roles, including park manager at Kolomoki Mounds and Fort Yargo. He was named Manager of the Year in 2009 and later served as Region 3 Manager, where he oversaw operations at the Little White House and F.D. Roosevelt State Park, secured funding, and strengthened partnerships with the Advisory Committee. From 2019 until his retirement in 2022, Bentley served as Assistant Director of State Parks, continuing to advocate for the Little White House and playing a key role in advancing major preservation projects.

    Board of Juvenile Justice

    Lisa Colbert was reappointed.

    State Board of Veterinary Medicine

    Jessica Sewell was reappointed.

    Employee Benefit Plan Council

    Courtney Ware and Christopher Wells were reappointed.

    Angelique McClendon was appointed Commissioner of the Georgia Department of Driver Services (DDS) on May 1, 2025. She joined DDS as General Counsel in 2015 and was later promoted to Assistant Deputy Commissioner of Legal and Regulatory Affairs. Her legal career began in 2005 as an assistant solicitor in DeKalb County, followed by her service as an assistant attorney general for the State of Georgia from 2008 to 2015, where she represented public safety agencies, including DDS.  McClendon has provided legal guidance on major state initiatives, including Georgia’s Digital Driver’s License, and is a recognized expert on identity management, digital credentials, and data privacy. She has held leadership roles with the American Association of Motor Vehicle Administrators (AAMVA), helping shape national policy and best practices in driver’s license administration. She holds a Bachelor of Science in chemistry from Xavier University of Louisiana and a Juris Doctor from Georgia State University College of Law.

    Board of Community Affairs

    Kwanza Hall, Donna Armstrong Lackey, and Charlie Maddox were reappointed.

    State Board of Technical College System of Georgia

    Mike Long, Fran Millar, and Lisa Winton were reappointed.

    North Georgia Mountains Authority

    Jeff Andrews, Randy Dellinger, Patrick Denney, Dan Garcia, and Paul Shailendra were reappointed.

    State Board of Podiatry Examiners

    Rupal Gupta is a board-certified podiatrist with over 20 years of clinical, academic, and administrative experience. She currently practices at Ankle and Foot Centers of America and has held leadership roles in both hospital and professional association settings, including serving as president of the Georgia Podiatric Medical Association and department chief at Emory Johns Creek Hospital. Gupta completed her residency at Jackson North Medical Center, where she received advanced training in surgical and non-surgical foot and ankle care, trauma, and wound management. She holds a Doctorate in podiatric medicine from Kent State University and a bachelor’s degree from Emory University. Dedicated to advancing podiatric medicine and public health, she has been an active advocate for clinical standards and evidence-based policy and continues to serve on various hospital committees and community initiatives.

    Lake Lanier Islands Development Authority

    Daniel Dooley and Lauren Talley were reappointed.

    Georgia Rural Development Council

    Robert “Bob” Ray, Jr. is managing member of Ray Family Farms, LLC, where he and his siblings continue six generations and over 200 years of family farming, now focused on pecan production and pine timber. Before returning full-time to agriculture, Ray served for 15 years as President and CEO of Flint Energies. Ray’s public service includes his tenure as Assistant Secretary of State and Chief Operating Officer under Secretary of State Cathy Cox, where he directed agency operations and intergovernmental affairs. Earlier in his career, he was legislative director for the Georgia Farm Bureau Federation and also worked as a corporate lending officer with NCNB National Bank. He holds a bachelor’s in finance from the University of Georgia’s Terry College of Business. Ray has served in leadership roles with Georgia EMC, Green Power EMC, GRESCO, and Leadership Georgia, and remains active in agricultural and community organizations statewide.

    Georgia Commission on the Holocaust

    Jon Barry is President and Founder of Spectrum Maintenance Services and leads the company’s marketing and growth strategies. His career in commercial real estate spans four decades, including extensive experience in all aspects of brokerage and property management. Initially formed to support Barry’s shopping center management platform, SMS has grown to become Atlanta’s leading full-service property maintenance company. Barry previously served on the Board of Advisors of the Kennesaw State University Entrepreneurship Center, is a member of CEO NetWeavers, and has served as mentor to numerous rising professionals.

    Georgia Ports Authority

    James Allgood, Jr., Leda Chong, and Doug Hertz were reappointed.

    Georgia Student Finance Commission Board of Commissioners

    John Loud, Sarah Hawthorne, Ed Pease, and David Perez were reappointed.

    State Board of Accountancy

    Emily Farrell and Todd Tolbert were reappointed.

    Carlton Hodges is a certified public accountant with more than four decades of experience in public accounting, specializing in tax compliance and audit services. He began his career in 1980 with SRLS, where he advanced to Tax Manager following a merger with Price Waterhouse. His practice focuses on business, individual, fiduciary, and nonprofit tax returns, as well as audit and accounting engagements in sectors such as construction, services, and government-assisted entities. Carlton holds Bachelor of Business Administration degrees in finance and accounting from Armstrong State College. He is a member of both the Georgia Society of CPAs and the American Institute of CPAs, and serves on the board and leadership council of the Georgia Society, where he also chairs the GSCPA Insurance Trust. His civic involvement includes prior service as a Pooler City Councilman, treasurer of the Savannah-Chatham MPC, and leadership roles with the Armstrong Foundation and Rotary Club of Savannah West.

    State Board of Registration for Professional Engineers and Land Surveyors

    Trent Turk was reappointed.

    Board of Commissioners of the Sheriffs’ Retirement Fund of Georgia

    Billy Hancock and Dan Kilgore were reappointed.

    Georgia Sports Hall of Fame Authority

    Bill Shanks and Earl Wright were reappointed.

    Phil Schaefer is an award-winning sportscaster whose career spans more than five decades across basketball, football, baseball, and golf. He was the voice of UGA basketball for 17 years, called Atlanta Hawks games for five seasons, and served as a CBS Radio broadcaster for the NCAA Tournament for 20 years. In football, he spent 16 years as UGA’s color commentator, 10 years as the voice of the Peach Bowl, and 20 years as public address announcer for the Atlanta Falcons. Schaefer also covered the Braves for 39 years and the Masters Tournament for 55 consecutive years, earning the Masters Major Achievement Award in 2010. A three-time Georgia Sportscaster of the Year, Schaefer held leadership roles at WSB Radio and later served as Athletic Coordinator for the DeKalb County School System. He is a member of the Georgia Radio Hall of Fame and the Georgia Sports Hall of Fame, and has received over 40 national and regional journalism awards, including a Peabody. He holds degrees from Ohio State University and Georgia State University and is the author of Sins of a Southern Sportscaster.

    Board of Behavioral Health and Developmental Disabilities

    Deb Bailey, Amanda Owens, Bill Slaughter, Jean Sumner, and Jimmy Thomas were reappointed.

    Georgia Behavior Analyst Licensing Board

    Margaret Molony and Robin Osborne were reappointed.

    Georgia Public Telecommunications Commission

    Greg Garrett and Mary Ellen Imlay were reappointed.

    Stephen Lawson is a principal in Dentons’ Regulatory, Public Policy, and Government Affairs practice in Atlanta, with nearly 15 years of experience in public affairs, communications, and political strategy. He has advised Fortune 500 companies, nonprofits, trade associations, and elected officials on complex issues including policy strategy, crisis management, media relations, and advocacy. Prior to joining Dentons, Lawson was president of Full Focus Communications, a public affairs firm based in Atlanta. He has served in senior advisory roles for high-profile public officials, including Florida Governors Rick Scott and Ron DeSantis, and in Georgia for Lieutenant Governor Burt Jones, Agriculture Commissioner Tyler Harper, Congressman Mike Collins, and Speaker of the House Jon Burns.

    George Levert is a retired venture capitalist with more than two decades of experience in technology investment. He was a Founding Partner of Kinetic Ventures, where he led investments in telecommunications, network automation, and internet technologies. He served on the boards of more than a dozen venture-backed companies, including Metricom, Pathfire, and Proficient Networks. Prior to his career in venture capital, he held roles with Oglethorpe Power Corporation, Accenture, Boeing, and the U.S. Navy Civil Engineer Corps during the Vietnam War. Levert holds a B.S. in electrical engineering from Louisiana Tech University and an M.S. in management from Georgia Tech. He has served on numerous civic and nonprofit boards, including the Georgia Tech Foundation, Catholic Charities of Atlanta, the Atlanta Opera, and the American Red Cross. He is also a former board member of the Smithsonian National Museum of African Art and the Museum of the American Indian. Levert has endowed multiple scholarships and leadership awards and remains active in philanthropic, educational, and faith-based organizations. He and his wife, Dale, live in Atlanta and have two sons and two granddaughters.

    Savannah-Georgia Convention Center Authority

    Bert Brantley, Martin Miller, and Pritpal Singh were reappointed.

    Board of Human Services

    Lisa Hamilton, Scott Johnson, and Jack Williams were reappointed.

    Criminal Justice Coordinating Council

    Nancy Bills, Denise Downer-McKinney, Ron Freeman, Scotty Hancock, and Joe Hood were reappointed.

    Board of Public Health

    James Curran, Lucky Jain, Mitch Rodriguez, Ryan Shin, and T.E. Valliere-White were reappointed.

    Professional Standards Commission

    Angela Byrne has over 11 years of teaching experience in public and private schools. She currently teaches ESOL to K–6 students at Anna K. Davie Elementary in Rome City Schools, where she has served for the past six years. Her previous roles include teaching kindergarten, fourth, and fifth grade. She holds certifications in Elementary Education and Middle Grades Math and Science, with endorsements in ESOL and Online Teaching. She has received the Rome City Schools Central Office Support Employee of the Year and the Anna K. Davie Star Teacher Award. Byrne lives in Rome, Georgia, with her husband, Lewis, and their three children.

    Christy Edwards is an elementary educator with 14 years of experience in the Hall County School System. She currently serves as the Language Lab Teacher at Tadmore Elementary, focusing on data-driven instruction and student performance. She previously taught second, fourth, and fifth grades, as well as Early Intervention Program (EIP) support. She holds a B.S. in early childhood education from the University of North Georgia and an ESOL endorsement from Pioneer RESA. Edwards has served as a Leadership Team member, RTI representative, and professional learning facilitator.

    Zach Miller is a certified elementary educator currently teaching reading, science, and social studies at Roan School in Dalton. He holds a Bachelor of Science in early childhood education from Dalton State College and is certified in Early Childhood Education (P-5), with endorsements in ESOL and K–5 Mathematics. Named Teacher of the Year at Roan School in 2025, Miller focuses on a student-centered approach that integrates project-based learning and relationship-building to drive academic success. He founded the District Elementary Soccer Tournament and mentors students through Soccer for Success. He also leads Roan’s Soccer and Disc Golf Clubs, coordinates the Social Studies Bee, and partners with local nonprofits to support families in need. Miller is active in his church, serving as vice chairman of the deacons at Fellowship Bible Church and leading the soccer portion of Grace Presbyterian Church’s summer sports camp.

    State Rehabilitation Council

    Jo Ellen Hancock is a long-serving advocate and leader in the fields of special education, behavioral health, and community engagement. Since 2005, she has served as the parent mentor for special education with the Cherokee County School District, supporting families and fostering collaboration between schools and parents of students with disabilities. She holds multiple leadership roles across state and local behavioral health organizations, including chair of the Statewide Leadership Council and immediate past chair of the Region 1 Advisory Council for the Georgia Department of Behavioral Health and Developmental Disabilities (DBHDD). She also serves on the Georgia Behavioral Health Planning and Advisory Council and the Behavioral Health Services Coalition. Hancock is a certified peer specialist – parent and currently chairs the Cherokee County Local Interagency Planning Team (LIPT), where she has led efforts to coordinate services for children with complex needs since 2018. She serves on the advisory board for NAMI Georgia and is communications chair for the Holly Springs Optimist Club.

    Charity Roberts assumed the position of State Director (IDEA) for the Office of Federal Programs Division for Exceptional Children on January 1, 2025. She is a quadruple Eagle from Georgia Southern University, obtaining her bachelor’s and master’s degrees in special education. She completed a specialist and doctorate degree in educational leadership. She is certified in multiple fields within general and special education, such as elementary education, reading (P-8), special education preschool, physical and health disabilities, and P-12 special education adaptive and general curriculum. Roberts has over 30 years of experience in special education instruction and leadership in a variety of roles. After serving as a special education teacher, she became a district director of special education. From there, Roberts provided leadership support as a GLRS Director for twelve years before joining the Georgia Department of Education Office of Rural Education and Innovation.

    Board of Community Supervision

    Jimmy Kitchens and Steve Queen were reappointed.

    Judicial Legal Defense Fund Commission

    Christine Hayes serves as Deputy Executive Counsel in the Office of Governor Brian P. Kemp. Prior to joining the Governor’s staff, she was director of governmental affairs for the State Bar of Georgia, where she worked on a variety of legislative issues that affect the judiciary and the legal profession. She also held roles at the Judicial Council/Administrative Office of the Courts, Georgia General Assembly, and as an associate at Fields Howell where she focused on insurance coverage issues and related litigation. Hayes holds a bachelor’s degree in political science from the University of Florida and a law degree from Emory University. She and her husband, Jonathan, live in Atlanta with their two daughters.

    State Board of Long-term Care Facility Administrators

    Timothy Bush and Laura Cayce were reappointed.

    Suzanne Gerhardt serves as Senior Vice President of Health Services at PruittHealth, Inc., where she oversees skilled nursing center operations across four states. With a career in long-term care that began in 1983, she brings decades of hands-on experience in healthcare management, including roles in business operations, social services, admissions, and auditing. Gerhardt became a licensed Nursing Home Administrator in 1997 and has since managed multiple facilities and regional operations. She is known for her focus on regulatory compliance, operational efficiency, and improving patient outcomes. In addition to her leadership at PruittHealth, she has served in various roles with the Georgia Health Care Association, including Chair of the Board and, currently, as immediate past chair.

    Donna Sant is a public policy professional with extensive experience in political organizing, campaign operations, and grassroots leadership. She served as Chairman of the Houston County Republican Party from 2018 to 2024 and has held multiple roles within the Georgia Republican Party, including State Committee Member and County Vice Chair. She has led volunteer efforts, managed election headquarters, coordinated large-scale events, and served as a liaison between voters and candidates. Sant holds a master’s in public policy from Liberty University and a B.F.A. in TV/Film production from Valdosta State College. A graduate of Republican Leadership for Georgia, she is also a recipient of the Ted & Barbara Waddle Award of Excellence. She lives in Elko, Georgia, with her husband. They have three adult children. Sant will serve as the consumer member on the State Board of Long-term Care Facility Administrators.

    Board of Trustees of the Teachers Retirement System of Georgia

    Mary Elizabeth Davis is the Superintendent of Cherokee County Schools, serving 42,000 students. She has spent nearly 20 years in Georgia public education, holding leadership roles in four school districts. Prior to her current role, she served as Superintendent of Henry County Schools for nearly seven years, where she led improvements in operational systems, financial management, and student outcomes. Her previous roles include Chief Academic Officer in Cobb County and Assistant Superintendent for Curriculum and Instruction in Gwinnett County. She began her career as a chemistry teacher and coach in Fairfax County, Virginia. Davis was named one of District Administration’s 100 most influential education leaders in 2024 and is a former finalist for Georgia Superintendent of the Year. She holds a chemistry degree from Messiah College and a Ph.D. in Education Policy from Georgia State University. She lives in Canton, Georgia with her husband and two children.

    Board of Juvenile Justice

    Lisa Colbert was reappointed.

    State Board of Veterinary Medicine

    Jessica Sewell was reappointed.

    Georgia Opioid Settlement Advisory Commission

    Trey Bennett is the general counsel and grants division director for the Georgia Governor’s Office of Planning and Budget. A seasoned attorney and public policy advisor, Bennett has over a decade of legal and governmental experience, including past service as deputy executive counsel to Governor Brian Kemp. He oversees the ethical execution of billions of dollars in federal grant funding, advises on statewide emergency responses, and helps shape key legislation across multiple sectors. Bennett also has substantial courtroom experience, having served as both a criminal prosecutor and a defense attorney in Northeast Georgia. He holds a J.D. from the University of Georgia School of Law and lives in Hoschton, Georgia, with his wife, Katherine, and their four children.

    Council for the Arts- Chair

    Colt Chambers was reappointed.

    Board of Commissioners of the Superior Court Clerks’ Retirement Fund of Georgia

    Timothy Harper, Linda Hays, Daniel Jordan, Michael King, and Rhett Walker were reappointed.

    Georgia Public Service Commission Advisory Committee

    Jeff Jacques is a civil engineering professional with over 35 years of experience in transportation and utility coordination. He began his career with the Georgia Department of Transportation in 1983 as a civil engineer co-op and held various roles over a 20 year tenure, including district utilities engineer and area maintenance engineer. Since 2007, he has served as worksite utility coordination supervisor and utility coordination manager with CWM. Jacques is actively involved in the Georgia Utility Coordination Council, Georgia 811 Excavator Advisory Council, GHCA Utilities Task Force, and the GUCC Legislative Committee. He also served Franklin County as a Republican member of the Board of Commissioners from 2002 to 2018 and as Chairman from 2023 to 2024. A graduate of Emmanuel College and Southern Tech, Jacques resides in Franklin County with his wife, Christy. They have three adult children, and he is a member of Liberty Baptist Church in Carnesville.

    Disability Services Ombudsman Medical Review Group

    George Leach is an Assistant Professor of Emergency Medicine at Emory University School of Medicine and an attending physician at Grady Memorial Hospital. He has over 15 years of clinical and academic experience, with a focus on quality improvement, systems-based practice, and medical education. Leach completed his undergraduate studies at the University of North Carolina and earned his medical degree from Emory University, where he also completed his emergency medicine residency and served as chief resident. His academic contributions include developing a national curriculum for advanced emergency medicine learners and leading peer review process improvements at Grady. He is a member of multiple professional organizations, including the American College of Emergency Physicians and the Society for Academic Emergency Medicine. Dr. Leach has received numerous teaching awards and is actively involved in resident education, mentorship, and committee leadership at Emory and Grady.

    Georgia Environmental Finance Authority

    Jimmy Andrews and Travis Turner were reappointed.

    Georgia Child Support Commission

    Ben Land was reappointed.

    Behavioral Health Reform and Innovation Commission

    Kevin Tanner was reappointed as Chairman.

    Karen Bailey, Melanie Dallas, Jason Downey, Nora Haynes, Miriam Shook, Sarah Vinson, DeJuan White, and Michael Yochelson were reappointed.

    DeAnna Julian serves as Chief Executive Officer of the Frazer Center, a nonprofit providing inclusive early childhood, adult, and behavioral health services for individuals with intellectual and developmental disabilities (IDD). She also serves as President of the Service Providers Association for Developmental Disabilities (SPADD), where she works to strengthen Georgia’s IDD service network through policy engagement and provider collaboration. A former special education teacher, Julian holds certifications in special education, early childhood, and physical education, along with a master’s degree in education and transition services from the University of Kansas. She previously served as Executive Director of The Arc of Southwest Georgia, leading efforts to expand access and advance systemic reform. With more than 20 years of leadership in education and disability services, Julian has been recognized with honors including the Annette Bowling Advocacy Award and Albany’s Top 40 Under 40. She lives in Atlanta with her husband, Steve, and their two adult children.

    Carey Parrott, Sr. is the founder and CEO of Parrott Counseling Services, LLC, with over two decades of experience in addiction and mental health counseling. A licensed clinical social worker, master addictions counselor, certified clinical supervisor, and certified peer specialist for addictive diseases, he provides direct care and specialized services to individuals, families, and justice-involved populations, including re-entry and mandated clients. Parrott is a two-time graduate of the University of Georgia, earning a B.S. in psychology and an M.S.W. He later earned a doctorate in clinical social work leadership from Tulane University. His professional background includes service as caregiver support coordinator at the U.S. Department of Veterans Affairs, where he supported veterans and families navigating the challenges of mental illness and substance use. He has also served as a consultant to the Georgia Department of Behavioral Health and Developmental Disabilities, providing clinical supervision and workforce development for addiction counselors statewide. Parrott began his career working in residential treatment settings and community behavioral health programs. He is recognized for his collaborative, personalized approach and his ongoing commitment to supporting recovery and resilience in the Athens community and beyond.

    Child Advocate Advisory Committee

    Andre Blanchard and Jay Watkins were reappointed.

    Georgia Hotel Motel Tax Performance Review Board

    David Dukes was reappointed. 

    MIL OSI USA News –

    August 5, 2025
  • MIL-OSI: FirstBank’s Strategy Delivers in Q2 2025 with Financial and Customer Wins

    Source: GlobeNewswire (MIL-OSI)

    LAKEWOOD, Colo., July 31, 2025 (GLOBE NEWSWIRE) — FirstBank, one of the nation’s largest privately held banks with a focus on “banking for good,” announced its 2025 second-quarter summary of the company’s holdings and activities. The bank reported the following quarter-end results:

    • Net income was $151.7 million
    • Total deposits were $23.4 billion
    • Net loans were $15.8 billion
    • Total assets were $26.8 billion

    During the second quarter, FirstBank earned the No. 1 ranking in customer satisfaction in the Southwest region for the fifth consecutive year, according to a national retail banking study. The study evaluated customer satisfaction across several key categories, account offerings, digital channels, and overall experience.

    “We’re honored to once again be recognized as a leader in customer satisfaction, which is a direct reflection of the trust our customers place in us,” said Kevin Classen, CEO of FirstBank.  “We also experienced a sizable year-over-year increase in net income from $96.5 million in Q2 2024 to $151.7 million in Q2 2025, demonstrating our commitment to long-term sustainable growth. As we look ahead, we’re focused on deepening our community impact, expanding support for local businesses, and driving innovation that helps customers and local economies thrive.”

    To promote its small business customers and give back to communities, FirstBank launched its “Our Cube Means Business” campaign. From July 11 to September 5, the bank’s signature orange cube will pop up at select businesses and storefronts throughout Colorado every Friday, providing exclusive giveaways. 

    In addition, FirstBank announced its continued partnership with the Colorado Chamber of Commerce on the Coolest Thing Made in Colorado contest, which works to celebrate and strengthen local manufacturers. 

    About FirstBank

    FirstBank began providing banking services in 1963. Today, it’s known as an industry leader in digital banking. It has grown to be one of the top-performing and largest privately held banks in the United States. FirstBank offers a variety of consumer deposit accounts, home equity loans, mortgages, rental property loans, and a full range of commercial banking services, including business financing, commercial real estate loans, treasury management, and more. Since 2000, FirstBank has been recognized as a top corporate philanthropist, contributing more than $90 million and thousands of volunteer hours to charitable organizations. The company is also unique in that a large portion of its stock is owned by management and employees, giving employees a financial stake in the bank’s success through its Employee Stock Ownership Program. For more information, visit www.efirstbank.com. Member FDIC.

    Media Contact
    Cody Wheeler
    (303) 228-6986 
    1stbank@wearecsg.com

    The MIL Network –

    August 5, 2025
  • MIL-OSI United Kingdom: Business leaders back the UK Government’s Small Business Plan

    Source: United Kingdom – Executive Government & Departments

    Press release

    Business leaders back the UK Government’s Small Business Plan

    Business leaders from across business representative organisations, small and large businesses have endorsed the launch of the UK Government’s new Small Business Plan.

    Business leaders from across business representative organisations, small and large businesses have endorsed the launch of the UK Government’s new Small Business Plan.

    Small businesses across the UK will benefit from the most comprehensive support package in a generation. From faster payments and easier access to finance, to cutting red tape and launching a new Business Growth Service, we’re backing businesses to thrive.

    Business Groups 

    Policy Chair of the Federation of Small Businesses (FSB), Tina McKenzie, said: 

    Making sure businesses are paid on time, that our high streets thrive, and creating conditions in which everyone can start and succeed in business are crucial priorities for small businesses, communities and the economy. It’s very welcome that the Prime Minister has today made them his Government’s priorities. 

    I’m pleased that FSB and the Government have been able to work in lockstep on the bold and ambitious measures needed to tackle the scourge of late payment through legislation, and other pro-growth, pro-small business measures.  

    Today’s plan is an encouraging commitment from the Government to take the side of small businesses in the great growth challenge ahead. 

    Michelle Ovens CBE, Founder, Small Business Britain, said:  

    I am thrilled to see the Small Business Plan launched today, putting the nation’s smallest businesses at the heart of Government strategy where it should be. These job creators and economy builders will benefit from a huge boost to funding through the British Business Bank, a boost to skills, support for high streets and a long hoped for legislative backing for getting paid on time. We will not see economic growth without small business growth, so I am eager to get on and help the Government deliver on this agenda – and help small businesses regardless of their background start, grow and thrive. 

    Daniel Woolf, Enterprise Nation’s Head of Policy & Government Relations, said: 

    We welcome the Government’s new Small Business Plan as a serious attempt to reset the relationship between small firms and Government. Many of the commitments like digital adoption and access to affordable finance reflect the everyday challenges our members experience, and several directly align with recommendations Enterprise Nation has set out in recent policy work.   

    We’re particularly pleased to see a comprehensive approach to late payment reform, including shorter payment terms and stronger enforcement through the Small Business Commissioner. 90-day payment terms stop small businesses from investing and growing. 

    This is a strong foundation. Enterprise Nation looks forward to working with government to help ensure these policy ambitions turn into measurable outcomes for small businesses across the UK.  

    Philip Salter, Founder of The Entrepreneurs Network, said: 

    Small businesses are where opportunity begins – new jobs, new skills and new ideas. Practical help, such as being paid on time, easy access to advice and finance, and less administrative burden, makes a real difference. 

    In a world where online banking, accounting software and e-invoicing exist, it’s completely unacceptable that so many burgeoning startups see their growth stall due to late payments. At its worst, they can send perfectly good businesses to the wall – leaving Britain’s economy less dynamic and competitive. Founders in our network will hope the measures outlined today mean it is the beginning of the end for late payments.  

    Fiona Graham, Chief Operating Officer for Family Business UK said:  

    Family Business UK welcomes today’s publication of the Small Business Plan as a positive step towards creating a fairer and more resilient environment for small family-run firms.  We are pleased to see many of the areas highlighted by our members addressed in this plan. 

    Family businesses make up over 85% of all private sector firms in the UK and are deeply rooted in their communities. But like many small businesses, they are held back by red tape and limited access to finance and support – challenges that this plan rightly seeks to address. 

    The announcement of a Business Growth Service will give small family-run businesses the tools they need to grow, scale up and expand into international markets, as well as streamlining essential advice and support into one national platform. This will give small businesses peace of mind that support is readily available and easily accessible when they are looking to invest and grow. 

    We look forward to continuing to support small businesses as the initiatives in this plan are developed and rolled out.  We are also committed to working with DBT in the development of a future strategy to ensure that mid-sized businesses are also getting the bespoke support they need. 

    Liz Barclay, IoD Special Advisor for Small Business and Entrepreneurship, and former Small Business Commissioner, said: 

    We welcome this commitment to ensuring that small businesses are paid on time and that larger suppliers are prevented from imposing unfair contractual payment terms beyond 60 days. This will give small and micro firms the certainty they need to invest, increase productivity, and grow.   

    We look forward to working with the government as the legislation takes shape, ensuring that there are no unintended consequences for businesses.  

    Stephen Phipson, Chief Executive Officer, Make UK, said: 

    Manufacturers across the country will welcome the Government’s decisive action to tackle late payments. For too long, delayed invoices have drained cashflow, delayed innovation, and damaged businesses, particularly the thousands of small and medium-sized firms for whom late payments are one of the most consistent challenges to their survival and success. 

    Today’s announcement rightly recognises that supporting manufacturing SMEs is essential to unlocking wider economic growth. The introduction of the toughest late payment laws in the G7 sends a clear signal that poor payment practices will no longer be tolerated. 

    These reforms, combined with new powers for the Small Business Commissioner, will help create a culture of fairness and accountability across supply chains. Coupled with real enforcement, this Small Business Plan will give manufacturers the confidence and certainty they need to innovate, grow, and create even more high-skill, high-paying jobs in the UK. 

    Alan Vallance, ICAEW Chief Executive, said:  

    The UK’s economy is made up of small businesses, with 99 per cent of the total business population, two-fifths of all private sector employment and over half of the nation’s business turnover. Small businesses are key to growth, and it’s important that they can operate in the best environment to propel them into the business stars of the future, creating more growth, employment and prosperity for all parts of the UK. 

    Chartered accountants are central to this story. As trusted business advisers, they provide expertise and acumen to allow small businesses to thrive and scale up, and often set up small businesses of their own. About 80 per cent of chartered accountancy firms are small businesses themselves, employing four employees or fewer. 

    The publication of the Small Business Strategy is an important development to help small businesses realise their potential. With its ambition on entrepreneurship, business advice, late payments and export potential, as well as its close links to the UK Modern Industrial Strategy and Professional and Business Services Sector Plan, it is clear that chartered accountants will make a strong contribution to its success. 

    Kate Nicholls, Chair of UKHospitality, said:  

    We welcome the Government’s Small Business Plan and the steps that it has put forward to support SMEs across the UK. The wider measures announced today on late payments and access to additional finance sit alongside a raft of new licensing measures that will slash red tape and support the hospitality sector, making it easier to open and operate hospitality venues, create jobs and grow the economy. 

    I’m personally very happy to have worked with Government to move us toward a new and improved licensing system that includes modernised planning and licensing rules, hospitality zones, and protections for existing venues. These can provide a real boost to the nation’s pubs, bars, restaurants and hotels. 

    We’ve worked on some of these issues for more than two decades so we now need swift implementation, while we keep up the momentum on outstanding issues, to deliver a bold, long term plan for the high streets and hospitality. 

    Vicks Rodwell, Managing Director at IPSE, The Self-Employed Association, said: 

    Late payments can force freelancers out of business, but obscenely long payment terms for work can put just as much of a strain on the self-employed. It’s hugely encouraging that the Prime Minister is determined to tackle both these issues with the measures in today’s plan” 

    It’s not right that freelancers can fall behind on their own bills, and even into debt, whilst the money they’ve earned sits in a bank account for months on end. 

    By clamping down on late invoices and long payment terms, government can tear down one of the biggest barriers to growth for freelancers and sole traders. 

    Millie Kendall MBE, CEO of British Beauty Council, said:  

    The beauty industry – encompassing hair, beauty, nails, barbering, spa and wellness – is made up of 95% small businesses and 78% micro-businesses, contributing more than £30bn to the UK GDP. The British Beauty Council welcomes the Government’s Small Business Plan which sees policy-makers put our businesses first. For years, the beauty sector has faced unique challenges when it comes to growth, this plan is a much needed step towards ensuring our industry – which bolsters social mobility and opportunities for underrepresented communities – can sustain growth. 

    Small Businesses  

    Elizabeth Vega OBE DUniv, Group CEO, Informed Solutions: 

    This Small Business Plan is the strongest and clearest we’ve seen in over a decade. It is a compelling way forward for the UK’s economy. 

    The Strategy reflects a truly collegiate and collaborative effort between government, policy experts, and the over 1,000 SMEs that contributed. 

    Having advocated for SME policy that supports economic growth and resilience for over 15 years, it’s been a pleasure to work alongside Minister Gareth Thomas, DBT policy teams, and the Small Business Growth Forum to shape a strategy with clear aims, ambitious objectives, and a holistic integrated approach to policy development. 

    I’m excited to now turn the shared ambitions in this Strategy into action, helping realise the UK’s full economic potential through SME growth and international trade. 

    Simon Groom, CEO of MagnifyB, said:  

    MagnifyB welcomes the UK Government’s action to tackle late payments, which will give small businesses the cash flow stability they need to thrive. Alongside this, there is a clear need to provide micro and small businesses with far more than just a repository of information, including a practical digital toolset to strengthen their operations and improve their chances of long-term success. We hope that the new Small Business Commissioner can be instrumental in bringing together ideas and championing the initiatives needed to make this support a reality. 

    Julianne Ponan MBE, Founder of Creative Nature, a small business that exports top 14 Allergen Free Baking Mixes and Snacks to 16 countries, said:  

    I’m delighted to see the government’s new SME Strategy recognising the critical role small businesses play both at home and globally. 

    From tackling late payments to simplifying access to growth advice and support, these measures are a lifeline for SMEs like mine who often face disproportionate challenges with limited resources. 

    I’m especially encouraged by the commitment to reduce administrative burdens by 25% and improve access to finance both are major barriers to growth for underrepresented founders, including women and ethnic minority entrepreneurs. The focus on revitalising the high street, digital skills, and exporting support shows that the government is listening to the needs of small businesses. 

    Charlie Shaw, owner of Flock and Herd butchers, said: 

    We’re proud to pay every supplier on time and once we receive an invoice, so it’s fantastic to see the government put the Small Business Plan into place tackling the big issue of late payments. We believe this is a fair and honest way to conduct business. It gives us a clear and current understanding of how our business is performing. Our relationships with our suppliers have been amazing and truly beneficial to all parties. 

    Richard Marshall, Founder and CEO of Pall Mall Barbers, said: 

    Small businesses are the backbone of the UK economy — and they need access to affordable finance and a fairer tax system to plan and grow. That’s why I look forward to working with the Government to drive down costs on the high street, extend business rates relief, and improve access to finance so SMEs can invest, hire, and build with confidence.  

    Today’s announcement is about backing entrepreneurs with the tools they need to thrive — not just for today, but for the long term. 

    Large Businesses  

    Nick Mackenzie, CEO of Greene King and co-chair of the Licensing Taskforce commented on the licensing response published today. He said:  

    As an industry we welcome the licensing proposals and see this as a positive and necessary step towards updating a planning and licensing system that, for too long, has limited hospitality’s ability to drive economic growth across the UK. I thank the industry and the Taskforce for the serious and meaningful recommendations that we have put forward to bring these proposals to fruition.

    It’s encouraging to see how the Government has worked at pace to take forward the proposals, particularly in areas that matter the most, including the introduction of a new National Licensing Policy Framework.

    Whilst licencing reform won’t offset the significant layered cost of doing business that the industry bears, they form part of wider changes to back the sector, which will support in unlocking opportunities for pubs to further invest in growth across the country.

    Steve Hare, Chief Executive Officer at Sage, said:  

    Small businesses are the backbone of the UK economy – they drive growth, create jobs, and fuel innovation. But running a small business isn’t easy. From rising costs and late payments to time-consuming admin, the challenges are real and persistent. Today’s Strategy is a welcome step in the right direction. Giving small businesses better access to finance, helping them break into new markets, and supporting them to adopt the latest technology will go a long way in helping them grow and succeed. 

    Leigh Thomas, Vice President EMEA, Intuit, said:  

    Today’s Small Business Plan is a welcome and much needed initiative for entrepreneurs. Our data shows that with an average of £21,000 owed in unpaid invoices, more than half of our country’s small businesses are now facing cash flow pressures. These pressures can quickly escalate, forcing many small business owners to make difficult financial decisions to keep operations running. Improving payment practices will play a key role in strengthening small business stability, creating the conditions for growth. We look forward to collaborating on this to power prosperity for all. 

    James Holian, Head of Business Banking, NatWest, said:  

    We welcome the Government’s renewed focus on tackling late payments for small businesses. This is a long-standing challenge that we know can hold back growth and innovation, and NatWest is proud to have been recognised for several consecutive years by Good Business Pays for being a leading business in making fast payments to our suppliers.  

    As a leading lender to UK SMEs, we’re committed to playing our part—whether that’s through prompt payment practices, tailored financial support, or initiatives like our accelerator hubs – where this year we’re aiming to support 10,000 businesses for the first time. Small businesses are the backbone of the UK economy, and we’re proud to support them in building resilience and unlocking their full potential. 

    Tom Wood, Head of Business Banking, HSBC UK, said:  

    We welcome the additional support the Small Business Plan provides, SMEs are key to a strong and resilient economy and we must equip them with the tools to succeed at every stage of their growth journey. It is vital we all work together to deliver long-term, practical solutions, including more transparent and accessible financing to ensure long-term growth and economic stability. Recognising the challenges SMEs face, HSBC UK recently launched the Small Business Growth Programme, providing business owners with resources to help early-stage businesses grow with confidence. 

    Wider Civil Society Organisations 

    Terry Corby, Founder and CEO, Good Business Pays, said:  

    This is what we have been waiting for. The legislative changes the government are planning to tackle our late payment culture are a game-changer. It is no longer seen as good business practice to be making your suppliers wait for a long time to get paid. At Good Business Pays we have been asking for legislative action for five years and it’s great to see these changes to unfair practices being set out in laws. 

    Anthony Impey MBE, CEO of Be the Business, said:  

    A strategic approach is essential to unlock the huge potential of small and medium-sized businesses, and it’s key to driving the country’s productivity and growth. The Small Business Plan is an important step in achieving this.  

    Business Support Services 

    Nicki Clark, Chief Executive of UMi, said:  

    At UMi, we see first-hand the incredible impact small businesses have, but also the challenges they face on a day-to-day basis.  This Small Business Plan, including the launch of the Business Growth Service, is a positive step towards making it easier for small businesses to find and access the support and finance they need to survive and thrive.

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    Published 31 July 2025

    MIL OSI United Kingdom –

    August 5, 2025
  • MIL-OSI Europe: “We support the efforts currently being led by the United States in the region to get an immediate ceasefire”

    Source: France-Diplomatie – Ministry of Foreign Affairs and International Development

    Published on July 31, 2025

    Excerpts from the interview given by M. Jean-Noël Barrot, Minister for Europe and Foreign Affairs, to France 24 (New York, July 29, 2025)

    You consider the two-state solution to be the only way of achieving peace. So you’re confirming Emmanuel Macron’s desire to recognize a Palestinian State. Why do so only now? What’s changed?

    THE MINISTER – Because the two-state solution, which is the only one likely to bring peace and stability to the region, is in mortal danger, and the conditions had to be created for it to become credible again. That’s why around nine months ago we decided, with Saudi Arabia, to undertake an initiative to create momentum leading those involved – the Palestinian Authority and the region’s Arab countries, but also the whole international community – to make commitments. These commitments are crystallizing in New York today with a statement by the participating countries, which is historic and unprecedented in that the Arab countries – the countries of the region, of the Middle East – are, for the first time, condemning Hamas, condemning 7 October [attacks], calling for the disarmament of Hamas, calling for it to be excluded from participating in any way in Palestine’s governance and clearly voicing their intention to have normalized relations with Israel in the future and be part of a regional organization on the lines of ASEAN in Asia or the OSCE in Europe, alongside Israel and the future State of Palestine. This is a decisive step being taken, made possible by President Macron’s decision, among other things.

    And a moment ago, the United Kingdom announced that it’s going to recognize Palestine as well, if Israel doesn’t make certain commitments. Do you welcome this decision by Prime Minister Keir Starmer? Has momentum been created?

    THE MINISTER – I welcome it. Indeed, the United Kingdom has become part of the movement created by France to recognize the State of Palestine. With these crucial decisions announced by France and the UK, with the combined efforts of the whole international community gathered here in New York, we want to counter the cycle of violence and war and reopen the prospect of peace in the Middle East.

    The United States isn’t participating in the conference taking place in New York at the moment. Regarding your initiative to advocate for a two-state solution, it’s denouncing an unproductive, ill-timed initiative resembling a publicity stunt. Donald Trump also reckoned that the statement by President Macron a little earlier, last Thursday, doesn’t carry any weight. What’s your reply to him?

    THE MINISTER – Firstly, we support the efforts currently being led by the United States in the region to get an immediate ceasefire, the release of all Hamas’ hostages and unhindered access to humanitarian assistance. But to secure a ceasefire, we still have to sketch out what happens after the war and the political horizon that goes with it. That’s the goal of this UN conference that France is chairing with Saudi Arabia. And in the document we’ve just adopted, with the countries that were part of it, we’re mapping out a credible prospect that’s going to make a positive contribution to a ceasefire being reached in Gaza. Moreover, these efforts we’ve led, these concessions the various parties have made will, at some point, enable the United States to resume the Abraham Accords process that it began during President Trump’s first term. We hope this time will come. But in the meantime, it was obviously unthinkable to stand by and do nothing. (…)

    You said in New York that the two-state solution is the only possibility, that there’s no alternative. Given the situation on the ground for the moment, the two-state solution, as you’ve said yourself, is virtually dead. Isn’t there an alternative, though: for this Israeli Government gradually to bring the idea of any Palestinian State to a definitive end, annex the West Bank – in short, make “Greater Israel” a reality?

    THE MINISTER – You’re right, the alternative to the two-state solution is a state of permanent war. And what we’re seeing today is the two-state solution being threatened, on the one hand, by supporters of “Greater Israel”, who want to deny Palestinians the right to self-determination, and attacked, on the other, by supporters of Hamas or others, who believe Palestine extends from the River Jordan to the sea. Through the historic decision President Macron took, which the British Prime Minister has just taken and others will take, through the commitments being made in New York by the Arab countries today, we’re agreeing with everyone else, the side of peace against the side of war. We’re reopening the possibility of a peace that will involve the two States living side by side in peace and security, with security for Israel and the right of the Palestinians to have their own State.

    Yesterday, for the first time, two Israeli NGOs used the term genocide to refer to what’s happening in Gaza. Several countries have described what’s happening in the Palestinian enclave in that way. That’s the case with Spain and South Africa in particular. What’s France’s position today?

    THE MINISTER – The French Government has no position to take on the legal description of the facts. That’s up to the international courts. What I can say is that the situation in Gaza is disastrous. Gaza is now a death trap where, as I said yesterday from the United Nations General Assembly rostrum, bodies bear the scars of famine and minds are ravaged by terror. It’s unacceptable that in humanitarian distribution queues, women and children are targeted and shot down in cold blood. It’s outrageous and it must stop. That’s why the meeting which was held in Brussels today – or will be held in a few minutes’ time – is so important. It will lead the European Union to speak out so that the Israeli Government finally hears our expectations: access for humanitarian aid and an end to the militarized aid-distribution system, payment by the Israeli Government of the €2 billion due to the Palestinian Authority, an end to, and the abandonment of, the pernicious settlement plans in the West Bank, and in particular the E1 plan for 3,400 housing units, which would cut the West Bank in two and strike a fatal blow to the prospect of two States and to the emergence of a State of Palestine./.

    MIL OSI Europe News –

    August 5, 2025
  • MIL-OSI: TAB Bank Q2 Loans Fund Growth for 218 Companies Totaling $66 Million

    Source: GlobeNewswire (MIL-OSI)

    OGDEN, Utah, July 31, 2025 (GLOBE NEWSWIRE) — TAB Bank funded growth for 218 companies in Q2 2025 with loans totaling $66 million. Companies signed with TAB Bank for working capital, cash flow management through factoring, equipment purchases and small business lines of credit. Businesses in the manufacturing, transportation, healthcare, food, fintech and toy/game industries selected TAB Bank as their financial partner.

    Highlights of some of the largest Q2 2025 deals include:

    • $8 million—A leader in global sourcing, supply chain management, manufacturing and nearshoring solutions in Ohio.
    • $5 million—Package Steel Systems, of Massachusetts, the premier builder of metal buildings in the Northeast.
    • $5 million—An exotic and collector car financing dealer in Utah.
    • $5 million—A toy, puzzle and gaming company based in California.
    • $2.5 million— Ryan Transportation, Inc., a Michigan-based truckload transportation provider.

    Additionally, in Q2, TAB Bank provided equipment financing to 140 companies, with a combined value of $15.2 million. Nine companies in the transportation sector—the core industry of the bank’s beginnings—received term loans and accounts receivable lines of credit ranging from $40,000 to $300,000. TAB also funded 55 small- to medium-sized businesses.

    “TAB Bank is a key financial partner, whether a company is looking for creative ways to manage cash flow or to leverage cash or assets to maximize growth,” said Justin Hatch, Chief Lending Officer at TAB Bank. “Our expertise in financing, along with our experience in many industries, allows us to take a comprehensive, creative and strategic view of the business goals and then structure the deal that best meets those needs. We are with our companies every step of the journey, even in some of their most difficult times.”

    The bank’s services include working capital, equipment financing, term loans, lines of credit and commercial real estate loans. TAB Bank’s specialists ensure each client is matched with the right financial product for their industry and growth stage. The bank supports businesses with stellar credit and those without, requiring alternative assessments. To determine creditworthiness, the bank considers various factors, such as income and operational history.

    For more information on TAB Bank’s capital financing and credit solutions, visit TABBank.com.

    About TAB Bank
    At TAB Bank, our mission is to unlock dreams with bold financial solutions that empower individuals and businesses nationwide. We are committed to building value in all we do through our innovative banking products.   Our dedication drives us to continuously improve, ensuring that we meet the evolving needs of our clients with excellence and agility. For over 25 years, we have remained steadfast in offering tailored, technology-enabled solutions designed to simplify and enhance the banking experience. 

    For more information about how we can help you achieve your financial dreams, visit www.TABBank.com.

    Contact Information:
    Trevor Morris
    Director of Marketing
    801-710-6318
    trevor.morris@tabbank.com

    The MIL Network –

    August 5, 2025
  • MIL-Evening Report: As protesters condemn Western media ‘complicity’, Gaza journalists struggle for survival

    Asia Pacific Report

    Protesters demonstrated outside several major US media outlets in Washington this week condemning their coverage of the genocide in Gaza, claiming they were to blame over misinformation and the worsening catastrophe.

    Banging pots and pans to spotlight the starvation crisis, they accused the media of “complicity in genocide”.

    Banners and placards proclaimed “Stop media complicity in genocide” and “US media manufactures consent for Israel’s crimes”, as the protesters demonstrated outside media offices that included NBC News and Fox News.

    But the irony was that while the protests appeared to have been ignored or overlooked by national media in the US – and certainly in New Zealand, they were strongly reported by at least one global news agency, Turkey’s Anadolu Agensi.

    The protests echoed a series of statements by various news media organisations, such as Agence France-Presse concerned about the safety of their journalists from both under fire and the risk of starvation, and media freedom advocacy groups.

    The Doha-based global television news network Al Jazeera, that has been producing arguably the best and most honest news coverage of Gaza and the occupied West Bank – which earned it being banned last year by both Israel and the Palestinian Authority from reporting inside their territory — called for global action to protect Gaza’s journalists.

    It said in a statement that Isael’s forced starvation of the besieged enclave that threatened Gaza’s entire population, including those “risking their lives to shed light on Israel’s atrocities”.

    Death toll passes 60,000
    On Tuesday this week, the world noted a grim milestone in Gaza, with the Health Ministry announcing that the death toll had surpassed 60,000 (this does not include the tens of thousands of people buried under the rubble and missing, presumed dead).

    Put in perspective, that is one in every 36 people in Gaza killed, and more than 90 people on average slaughtered every day.

    Also, 1157 people have been killed near the notorious Israel and US-backed Gaza “Humanitarian” Foundation food depots condemned as “death traps”, while 154 people have died from starvation, 89 of them children with the numbers rising.


    Israel’s genocide – ‘Everyone in Gaza is starving’       Video: Al Jazeera

    An episode of the weekly media watch programme, The Listening Post, took up the theme as well, criticising the failure of many high profile Western news services from adequately reporting the horror of Israel’s devastating and cruel policies.

    “When trying to stave off starvation becomes part of the job. What it means to be a Palestinian journalist in Gaza. The stories they are determined to tell, the incredible risks they are prepared to take,” said host Richard Gizbert when introducing the programme. He wasted no time firing a few caustic shots.

    Metropolitan police on watch for the pro-Palestinian protesters outside Fox News offices in Washington DC this week. Image: AA screenshot APR

    “What is unfolding in Gaza now has the appearance of a final solution, orchestrated by Israel and the United States, Israel’s other ally: The transformation of parts of the Gaza strip into starvation and concentration camps, a place where famine has been turned into a weapon of war,” he said.

    “Reporting on the reality of this genocide can amount to a death sentence. Palestinian journalists can easily identify with the suffering they are documenting since they too are going hungry.

    “They have been targeted because for [Israeli Prime Minister] Benjamin Netanyahu, like other genocidal leaders before him, starving a population is much easier to do when no one is watching.

    An Al Jazeera reporter ducks for cover as bombs hit a building behind her in a live broadcast from Gaza . . . featured in The Listening Post’s starvation report. Image: AA screenshot APR

    Perpetrator ‘left out’
    “Across Western mainstream media, news outlets have been unable to ignore this story of mass starvation in Gaza. But in report after report, they have made a habit of leaving out a key detail – naming the perpetrators of the famine, Israel.

    “The missing actors, the sanitised language, the use of the passive grammatical voice, it is all part of the playbook for far too many international news outlets and that is exactly what the few Palestinian journalists still standing are out to tell the world.”

    Gizbert explained that “journalists in Gaza already have the world’s toughest assignment”:
    “Job one for almost 22 months now has been survival; job two, telling heartbreaking stories; documenting a genocide while under fire.”

    Hossam Shabat reports on his colleague Anas al-Sharif’s experience at Al Shifa hospital and the starvation of babies in Gaza. Image: Instagram/@hossam_shbat

    Like, for example, Al Jazeera Arabic’s Anas al-Sharif who was reporting live from outside Al Shifa medical complex when a woman behind him collapsed at the hospital’s gate.

    Al-Sharif, who had reported on the genocide of his own people for more than 650 days without rest or complaint, through Israeli occupation airstrikes, drone attacks, and countless “scenes resembling hell”, suddenly could not take it anymore.

    He broke down: “People are falling to the ground from the severity of hunger,” al-Sharif said through his tears. “They need one sip of water. They need one loaf of bread.”

    Al-Sharif has also been threatened by the Israeli military, accusing him of being a “Hamas militant”, an accusation strongly denied by Al Jazeera, denouncing what it called Tel Aviv’s “campaign of incitement” against its reporters in the Gaza Strip.

    Discredited for bias
    Many Western mainstream media – including BBC, CNN, Sky, ITN, and Australia’s public broadcaster ABC — have been repeatedly discredited for their “pro-Israel bias” by scores of journalists who have acted as whistleblowers about the actions of their own news organisations.

    According to a Declassified UK report, for example, the journalists working for a range of outlets from across the political spectrum have “painted a consistent picture of the obstacles faced by reporters who want to humanise Palestinians or scrutinise Israeli government narratives”. The US media is also under attack and has been putting up a lame defence.

    Last week, more than 100 aid groups warned of “mass starvation” throughout Gaza — predictably denied by Israeli government in the face of overwhelming evidence — with their staff severely impacted by shortages and serious implications for journalists already being threatened with targeting by the Israeli military.

    Israel faces growing global pressure over the enclave’s dire humanitarian crisis, where more than two million people have endured 22 months of war. UN Security Council member France has led a group of countries announcing that they plan to recognise the Palestinian state at the UN in September, with United Kingdom, Canada, Malta and Finland among those following with the total number now almost 150 of the 193 UN member states.

    A statement with 111 signatories, including Doctors Without Borders (MSF), Save the Children and Oxfam, warned that “our colleagues and those we serve are wasting away”. The groups called for an immediate negotiated ceasefire, the opening of all land crossings and the free flow of aid through UN-led mechanisms.

    Al Jazeera’s Nour Odeh reported from Amman that the Israeli government had accused the UK of supporting the establishment of a “jihadi” state and of derailing efforts to reach a ceasefire.

    “But really,” she said, “the Israeli media, for example, is describing this as a political tsunami, a realisation of how significant the tide is, and how improbable it is to turn it back to countries withholding recognition because Israel said it doesn’t want it.”

    Calling for sanctions
    She also noted how 31 high-profile Israelis, including the former speaker of the Knesset, a former attorney general, and several recipients of Israel’s highest cultural award, were calling on world governments to impose crippling sanctions on Israel to stop the starvation of Palestinians in Gaza and their expulsion

    “This was taboo just a few days ago and has never really been done before, certainly not at this level of prominence of the signatories,” Odeh added.

    “Israel is starving Gazan journalists into silence,” says the CPJ. Image: CPJ screenshot APR

    The New York-based Committee to Protect Journalists (CPJ) added its voice to the appeal by aid agencies to call for an end to Israel’s starvation of journalists and other civilians in Gaza, backing the plea for states to “save lives before there are none left to save.”

    In a statement on its website, the CPJ accused Israel of “starving journalists into silence”.

    “Israel is starving Gazan journalists into silence. They are not just reporters, they are frontline witnesses, abandoned as international media were pulled out and denied entry,” said CPJ regional director Sara Qudah.

    “The world must act now: protect them, feed them, and allow them to recover while other journalists step in to help report. Our response to their courageous 650 plus-days of war reporting cannot simply be to let them starve to death.”

    ‘Bearing witness’ videos
    Also, last week the CPJ launched a “bearing witness” series of videos from Gaza giving voice to the challenges the journalists have been facing. In the first video, Moath al Kahlout described how his cousin had been shot dead while awaiting humanitarian aid.

    As Israel partially eased its 11-week total blockade of Gaza that began in May, CPJ published the testimony of six journalists who described how “starvation, dizziness, brain fog, and sickness” had threatened their ability to report.

    Among highlights cited by the CPJ:
    • On June 20, Al Jazeera correspondent Anas Al Sharif — the journalist cited earlier in this article — posted online: “I am drowning in hunger, trembling in exhaustion, and resisting the fainting that follows me every moment . . .  Gaza is dying. And we die with it.”
    • Sally Thabet, correspondent for Al-Kofiya satellite channel, told CPJ that she fainted consciousness after doing a live broadcast on July 20 because she had not eaten all day. She regained consciousness in Al-Shifa hospital, where doctors gave her an intravenous drip for rehydration and nutrition. In an online video, she described how she and her three daughters were starving.
    • Another Palestinian journalist, Shuruq As’ad said Thabet had been the third journalist to collapse on air from starvation that week, and posted a photograph of Thabet with the drip in her hand.
    • During a live broadcast on July 20, Al-Araby TV correspondent Saleh Al-Natour said: “We have no choice but to write and speak; otherwise, we will all die.”

    Little of this horrendous state of affairs has made it onto the pages of newspapers, websites of the television screens in the New Zealand mainstream media which seems to have a pro-Israel slant and rarely interviews Palestinian journalists or analysts for balance.

    “Stop media complicity in genocide” says the protest banner in Washington DC. Image: AA screenshot APR

    MIL OSI Analysis – EveningReport.nz –

    August 5, 2025
  • MIL-OSI: The Payden Securitized Income Fund Offers Timely Strategy for Today’s Income Investors

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, July 31, 2025 (GLOBE NEWSWIRE) — With investors increasingly seeking income and diversification amid shifting monetary policy and market volatility, the Payden Securitized Income Fund (PYSFX) offers a compelling approach. The Fund provides access to a wide range of securitized assets—including agency and non-agency residential mortgage-backed securities (RMBS), asset-backed securities (ABS), commercial mortgage-backed securities (CMBS), and collateralized loan obligations (CLOs).

    Designed to offer attractive yield potential while seeking limited interest rate sensitivity, the Payden Securitized Income Fund navigates changing market conditions through active management. The Fund seeks to capitalize on market inefficiencies and spread opportunities while maintaining a high degree of liquidity and risk awareness.

    “The Payden Securitized Income Fund is designed with an aim to help investors earn more income, enhance diversification beyond traditional bonds, and maintain flexibility in a changing interest rate environment,” said Gary Greenberg, CFA, Director and Co-Manager.

    Recent market dynamics have favored securitized credit, with CMBS and residential credit offering strong relative value. A resilient U.S. economy and a Federal Reserve nearing the end of its tightening cycle create favorable conditions for active managers seeking differentiated sources of income.

    The Fund’s diversified structure and risk-conscious portfolio management strategy make it a timely solution for investors looking to complement traditional fixed income holdings.

    PAYDEN & RYGEL

    With $160 billion under management, Payden & Rygel is one of the largest privately-owned global investment advisers focused on the active management of fixed income and equity portfolios. Payden & Rygel provides a full range of investment strategies and solutions to investors around the globe, including Central Banks, Pension Funds, London, and Milan. Visit www.payden.com for more information about Payden’s investment offerings, including US mutual funds and Irish-domiciled funds (subject to investor eligibility).

    Past performance does not guarantee future results. Investment returns and principal value will fluctuate, so investors’ shares, when sold, may be worth more or less than their original cost. For the most recent month-end performance, which may be higher or lower than that quoted, visit our website at payden.com or call 800 572-9336.

    For more information and to obtain a prospectus or summary prospectus, visit payden.com or call 800 572-9336. Before investing, investors should carefully read and consider investment objectives, risks, charges, expenses and other important information about the Fund, which is contained in these documents. Interest Rate Risk: As with most funds that invest in debt securities, the income on and value of your shares in the Fund will fluctuate along with interest rates. When interest rates rise, the market prices of the debt securities the Fund owns usually decline. When interest rates fall, the prices of these securities usually increase. Extension Risk: Rising interest rates can cause the average maturity of the Fund’s holdings of mortgage-backed securities to lengthen unexpectedly due to a drop in prepayments. This would increase the sensitivity of the Fund to rising rates, and could cause certain of the Fund’s investments to decline in value more than they would have declined due to the rise in interest rates alone. The Payden Funds are distributed through Payden & Rygel Distributors, member FINRA.

    This material reflects the firm’s current opinion and is subject to change without notice. Sources for the material contained herein are deemed reliable but cannot be guaranteed. This material is for illustrative purposes only and does not constitute investment advice or an offer to sell or buy any security. Past performance is no guarantee of future results.

    CONTACT

    Kate Ennis
    ennis@daipartnerspr.com
    (301) 580-6726

    This press release was published by a CLEAR® Verified individual.

    The MIL Network –

    August 5, 2025
  • MIL-OSI Africa: Government welcomes reduction in repo rate 

    Source: Government of South Africa

    Government welcomes reduction in repo rate 

    Government has welcomed the South African Reserve Bank’s (SARB) decision to cut the repo rate by 25 basis points  to 7%.

    “Government welcomes the decision by the South African Reserve Bank to reduce the repo rate by 25 basis points to 7%. The move provides much-needed relief for South African households, many of whom continue to face financial pressure due to the rising cost of living,” Acting Government Spokesperson, Nomonde Mnukwa, said on Thursday.

    Addressing a media briefing on the MPC’s decision on the repo rate, SARB Governor Lesetja Kganyago said the decision to reduce the policy rate was unanimous.

    READ | Reserve Bank cuts repo rate by 25 basis points

    Mnukwa said the rate cut is expected to ease the burden on consumers by lowering the cost of borrowing, while also creating conditions more conducive to stimulating investment, supporting businesses, and driving economic activity.

    “The decision reaffirms the soundness of South Africa’s monetary policy framework and the importance of coordinated efforts to support inclusive growth. Government continues to implement structural reforms and improving the ease of doing business to unlock the full potential of the economy and create jobs,” Mnukwa explained. – SAnews.gov.za

    Neo
    Thu, 07/31/2025 – 15:56

    MIL OSI Africa –

    August 5, 2025
  • MIL-OSI Banking: Dear CEO letter to Designated Businesses

    Source: Isle of Man

    Dear CEO letter to Designated Businesses in relation to the Designated Businesses Portal (“the Portal”) and administration by Designated Businesses

    The Isle of Man Financial Services Authority (the “Authority”) has issued a “Dear CEO” letter to all Designated Businesses registered under the Designated Businesses (Registration and Oversight) Act 2015 (as amended June 2019). 

    The letter provides clarification of the Authority’s expectations in relation to the information supplied to the Authority and the maintenance of the Portal.  The letter links back to the Designated Business Registration Website User Guide December 2019.

    A copy of the letter is here.

    If you have any questions regarding the letter, please contact dnfbp@iomfsa.im

    MIL OSI Global Banks –

    August 5, 2025
  • MIL-OSI USA: American Leadership in the Digital Finance Revolution

    Source: Securities and Exchange Commission

    Good afternoon. Thank you, Norm, for your kind introduction and the invitation to be here. It gives me great pleasure to be with you all, particularly at what I believe is a defining moment for American leadership in the crypto asset markets. Before I share a few reflections, I want to thank the America First Policy Institute for convening such a timely conversation. And, I must note, in order to keep my compliance folks happy, that the views I express here today are my own and do not necessarily reflect those of the SEC as an institution or of the other Commissioners.

    ***

    Today, I would like to discuss what Commissioner Hester Peirce and I are calling “Project Crypto,” which will be the SEC’s north star in aiding President Trump in his historic efforts to make America the “crypto capital of the world.”[1] But before I discuss our plan for crypto market primacy, let me take a few moments to revisit some inflection points in the history of our financial markets that bear similarities to the one we are at now, so that the future we shape is worthy of the legacy that we inherit.

    Evolution of Capital Markets: From Buttonwood to Blockchain

    The winds of innovation have always swept through our capital markets, often at gale force. In 1792, they rustled the leaves of a buttonwood tree, beneath which two dozen stockbrokers assembled to establish the forerunner to the New York Stock Exchange. That modest agreement—fewer than a hundred words handwritten on a slip of parchment—set in motion an elegant design that would govern the flow of capital for generations.[2]

    In the centuries since, our markets have never stood still. They have expanded, evolved, and reinvented themselves in step with the ideas and technologies of their time. Markets are dynamic because of the people who participate in them. Markets channel human ingenuity toward society’s most intractable problems by rewarding those who develop the most innovative solutions that others value enough to buy. They are the mechanism by which Adam Smith’s invisible hand elevates those who act in the common good—even when pursuing their own.

    The SEC’s role is to safeguard markets that allow the spark of human creativity and skill to benefit society. Over the arc of its history, the agency has both enabled innovation and, regrettably at times, stifled it. Fortunately, progress has a way of prevailing. And when our regulatory posture is calibrated to meet innovation with thoughtfulness rather than fear, America’s leadership position has only grown stronger.

    ***

    In the 1960s—before my time, I am happy to say—Wall Street was riding a bull market. But behind the scenes, our market machinery was straining to keep up. Most clearing and settlement transactions involved a costly and cumbersome process. Rising stacks of paper stock certificates had to be physically delivered by clerks wheeling carts up and down Wall Street and in other financial districts all across America.[3] It was a scene from another century struggling to meet the demands of the modern securities markets.

    Indeed, the paper-based clearance and settlement systems, built for a gentler era, began to buckle under the weight of soaring volumes. Delays at one firm held up the work of another. Securities were lost or stolen. Fails ballooned. And many thinly capitalized broker-dealers were caught by the whiplash of scuttled transactions. In desperation, trading hours were reduced and exchanges eventually closed on Wednesdays to allow firms to process the mountains of certificates.

    The breakdown over an antiquated system was described by the SEC chairman at the time as “the most prolonged and severe crisis in the securities industry in 40 years… Firms failed. Investor confidence plummeted.” And very much to its credit, the SEC was proactive in remedying the so-called “Paperwork Crisis.” The agency helped market participants to develop the Depository Trust and Clearing Corporation, which would transform how securities were held and traded.[4] Instead of shuffling paper certificates from customer to broker, broker to broker, and broker to customer, title to shares could now be transferred through computerized ledger entries.[5] The certificates themselves were immobilized, stored securely in vaults, as ownership moved electronically, laying the foundation for the modern clearing and settlement system that has continued to this day.

    The ticker tape machine—like the one here—was also a breakthrough of its time, revolutionizing how Americans accessed market information, line by line, trade by trade.[6] But breakthroughs don’t belong in the past.

    By the late 1990s, electronic trading systems surged in popularity, unsettling old assumptions about how markets should function. Chairman Arthur Levitt likewise believed it behooved the SEC to provide regulatory flexibility for the electronic markets to innovate.[7] So, Regulation Alternative Trading Systems, or “Reg ATS,” adopted in 1999, allowed for ATSs to be regulated like broker-dealers, rather than like exchanges.[8]

    So, this brings me to today. To a moment that demands American ambition. To a project that can unleash it.

    Our regulatory framework need not be anchored to an analog past—unkind to new frontiers. After all, the future is arriving at full speed—and the world is not waiting. America must do more than just keep pace with the digital asset revolution. We must drive it.

    Forging the Future: America’s Leadership in the Golden Age of Finance

    So today, I would like the world to go on notice that under my leadership, the SEC will not stand idly by and watch innovations develop overseas while our capital markets remain stagnant. To achieve President Trump’s vision of making America the crypto capital of the world, the SEC must holistically consider the potential benefits and risks of moving our markets from an off-chain environment to an on-chain one.

    We are at the threshold of a new era in the history of our markets. As I mentioned earlier, today I am announcing the launch of “Project Crypto”—a Commission-wide initiative to modernize the securities rules and regulations to enable America’s financial markets to move on-chain.

    Just a few weeks ago, President Trump signed the GENIUS Act into law, ensuring that America will continue to lead in global payments with a gold standard stablecoin regulatory framework. Upon signing the GENIUS Act into law, I was pleased that President Trump endorsed Congressional efforts to pass crypto market structure legislation by the end of the year. I commend the House of Representatives for garnering such strong bipartisan support, and I look forward to working with the Senate as they build off the House’s work and craft market structure legislation that future proofs our markets against regulatory mischief, cementing the United States as the crypto capital of the world.

    Yesterday, the President’s Working Group on Digital Asset Markets released the PWG Report with clear recommendations for the SEC and other federal agencies to build a framework to maintain U.S. dominance in crypto asset markets. This report is the blueprint to make America first in blockchain and crypto technology. The President said last week that he wants “the entire world running on the backbone of American technology.”[9] I stand ready to help get that job done.

    That is why I am launching Project Crypto and directing the SEC’s policy divisions to work with the Crypto Task Force, led by Commissioner Peirce, to swiftly develop proposals to implement the PWG’s recommendations. Project Crypto will help ensure that the United States remains the best place in the world to start a business, develop cutting-edge technologies, and participate in capital markets. We will reshore the crypto businesses that fled our country, particularly those that were crippled by the previous administration’s regulation-by-enforcement crusade and “Operation Chokepoint 2.0”[10] Whether an incumbent or a new entrant, the SEC welcomes all market participants who are hungry to innovate.

    In accord with the PWG Report’s recommendations, I have directed the Commission staff to draft clear and simple rules of the road for crypto asset distributions, custody, and trading for public notice and comment. While the Commission staff works to finalize these regulations, the Commission and its staff will in the coming months consider using interpretative, exemptive, and other authorities to make sure that archaic rules and regulations do not smother innovation and entrepreneurship in America. Many of the Commission’s legacy rules and regulations do not make sense in the twenty-first century—let alone for on-chain markets. The Commission must revamp its rulebook so that regulatory moats do not hinder progress and competition—from both new entrants and incumbents—to the detriment of Main Street.[11]

    Onshoring Crypto: A New Day at the SEC

    Now, Project Crypto will involve a broad range of initiatives across the Commission. 

    First, we will work to bring crypto asset distributions back to America. The days of convoluted offshore corporate structures, decentralization theater, and confusion over security status, are over. President Trump has said that America is in its Golden Age—and under our new agenda, our crypto asset economy will be, too.

    In line with the PWG Report, a key priority of mine will be to establish—as swiftly as we can—a regulatory framework for distributions of crypto assets in America. Capital formation is at the heart of the SEC’s mission, yet for too long the SEC ignored market demands for choice and disincentivized crypto-based capital raising.[12] As a result, crypto markets pivoted away from offering crypto assets and deprived investors of the opportunity to use this technology to contribute to productive economic enterprises. The SEC’s head-in-the-sand posture—as well as its shoot first, ask questions later approach—are days of the past.

    Despite what the SEC has said in the past, most crypto assets are not securities. But confusion over the application of the “Howey test” has led some innovators to prophylactically treat all crypto assets as such. American entrepreneurs are harnessing blockchain technology to modernize a broad range of legacy systems and instruments. One such entrepreneur is Senator Bernie Moreno of Ohio, a successful businessman and freshman senator, who before his election to the Senate founded a company that put car titles on the blockchain.[13] He saw a need for efficiency in transferring titles and devised a practical solution with the new technology.  These entrepreneurs need—and deserve—bright-line rules for determining whether the securities laws apply to their businesses.

    I have directed the Commission staff to work to develop clear guidelines that market participants can use to determine whether a crypto asset is a security or subject to an investment contract. Our goal is to help market participants to slot crypto assets into categories, such as digital collectibles, digital commodities, or stablecoins, and assess the economic realities of a transaction. This approach can allow market participants to determine, based upon clear guidelines, whether any outstanding promises or commitments of the issuer cause the crypto asset to be subject to an investment contract.

    In addition, it should not be a scarlet letter to be deemed a security. We need a regulatory framework for crypto asset securities that allows these products to flourish within American markets. Many issuers will prefer the flexibility in product design that the securities laws afford, and investors will benefit from the opportunity to earn distributions, voting rights, and other features typical of securities. Projects should not be forced to establish decentralized autonomous organizations and offshore foundations or decentralize too early if this is not their desired plan of action. I am excited to see new use cases for crypto asset securities in commerce, such as the ability to participate in blockchain network consensus with tokenized equities.

    Thus, for those crypto asset transactions that are subject to the securities laws, I have asked staff to propose purpose-fit disclosures, exemptions, and safe harbors, including for so-called “initial coin offerings,” “airdrops,” and network rewards. Regarding these sorts of transactions, our goal should be that issuers no longer exclude Americans from their distributions to avoid legal complexity and lawsuits,[14] but instead choose to include Americans to enjoy legal certainty and an accommodating regulatory environment. It is my view that a Cambrian explosion in innovation could occur if we stay true to this course.

    Additionally, many firms seek to “tokenize” their common stock, bonds, partnership interests, and other securities, or tokenize the securities of third parties.[15] Much of this innovation is offshore today due to regulatory challenges in the United States. I also hear from our regulatory policy staff that firms—from household names on Wall Street to unicorn tech companies in Silicon Valley—are lined up at our doors with requests to tokenize. I have asked the Commission staff to work with firms seeking to distribute tokenized securities within the United States and to provide relief where appropriate to assure that Americans are not left behind. 

    Enhancing Freedom: Choice Among Custodians and Trading Venues

    Second, to achieve the President’s goals, it is incumbent on the SEC to ensure that market participants have maximum choice when deciding where to custody and trade crypto assets.  As I have said before, the right to have self-custody of one’s private property is a core American value.[16] I believe deeply in the right to use a self-custodial digital wallet to maintain personal crypto assets and participate in on-chain activities like staking. However, some investors will continue to rely on SEC registrants, such as broker-dealers and investment advisers, to hold assets on their behalf, and these firms are subject to additional regulatory requirements when they do so. It will be a priority of my chairmanship to carry out the PWG Report’s recommendation to modernize the SEC’s custody requirements for registered intermediaries.

    The prior Administration’s “special-purpose broker-dealer” framework, SAB 121, and “Operation Chokepoint 2.0,” resulted in a dearth of custodial service provider options in the market today.[17]  The existing custody rules were created without crypto assets in mind. I have directed the staff to consider how best to adapt the existing regime to facilitate the custody of crypto assets, including possible exemptive or other relief, in addition to changes to the rules themselves.

    As the PWG Report recommends, market participants “should be permitted to engage in multiple business lines under the most efficient licensing structure possible.” We should not force market participants to be stretched to fit a Procrustean bed of regulation for regulation’s sake. I am in favor of affording them the freedom to choose the most efficient regulatory framework for their business, provided that the framework adequately protects investors.

    Facilitating Super-Apps: Horizontal Integration of Product Offerings

    Third, a key priority of my chairmanship is to allow market participants to innovate with “super-apps.”[18] I am often asked, “What do you mean by a super-app?” Plain and simple: securities intermediaries should be able to offer a broad range of products and services under one roof with a single license. A broker-dealer with an alternative trading system should be able to offer trading in non-security crypto assets alongside crypto asset securities, traditional securities, and other services, like crypto asset staking and lending, without requiring fifty-plus state licenses or multiple federal licenses. Nothing in the federal securities laws prohibits SEC-registered trading venues from listing non-securities on their platforms today, and I have directed the Commission staff to develop further guidance and proposals ultimately to make this “super-app” vision a reality. Maybe they’ll call it “Reg Super-App.”

    Consistent with the PWG Report, the SEC in concert with other regulators should strive to have the most efficient licensing structure for SEC registrants. They should not be unnecessarily subject to multiple regulators or regulatory regimes. This model has worked well for banks, which are broadly exempted from many duplicative regulatory frameworks, such as broker-dealer and clearing agency registration. Regulators should provide the minimum effective dose of regulation necessary to protect investors while allowing entrepreneurs and businesses to flourish. We should not overburden them with paternalistic regulation that could drive them offshore or make American companies less competitive internationally. Our regulators should unleash the forces of venue and product competition for the benefit of all Americans. We should not artificially constrain business models and impose duplicative regulatory costs on American businesses that favor the largest firms that are better able to bear the regulatory burdens.

    Per the PWG’s recommendations, I have directed the Commission staff to develop a framework that will allow non-security crypto assets and crypto asset securities to be traded side-by-side on SEC-regulated platforms. Additionally, I have asked the staff to evaluate the use of Commission authority to permit non-security crypto assets that are subject to an investment contract to trade on trading venues that are not registered with the Commission. I am keen to pursue such a solution, as it will not only enable state-licensed crypto asset platforms that are not registered with the SEC to list certain crypto assets, but it also clears the way for CFTC-regulated platforms to offer these products with margin capabilities—even without Congress providing the CFTC with any additional authority, unlocking even greater liquidity for these assets.

    Unleashing U.S. Markets: Big Beautiful On-Chain Software Systems

    Fourth, I have directed the Commission staff to update antiquated agency rules and regulations to unleash the potential of on-chain software systems in our securities markets. On-chain software comes in many shapes and sizes—some of these systems are truly decentralized and not operated by any intermediary. Other on-chain software systems have an operator. Both types of on-chain software should have a place within our financial markets. It is essential that any crypto asset regulatory market structure create a path for software developers to unleash on-chain software systems that do not require operation by any central intermediary. Decentralized finance software systems—like automated market makers—facilitate automated, non-intermediated financial market activity. Federal securities laws have always assumed the involvement of intermediaries that require regulation, but this does not mean that we should interpose intermediaries for the sake of forcing intermediation where the markets can function without them.

    We will create space in our markets for both models, by protecting pure publishers of software code, drawing reasonable lines to distinguish intermediated and disintermediated activity, and creating rational and workable rules of the road for intermediaries that seek to operate on-chain software systems. Decentralized finance and other forms of on-chain software systems will be part of our securities markets and not drowned out by duplicative or unnecessary regulation.

    To make this vision a reality, we will need to consider some changes to our rules. For example, accommodating trading of tokenized securities on-chain may require us to explore amendments to Reg NMS, in addition to what we otherwise would do in the normal course to correct market distortions that it engenders. Many of you will remember that I co-authored with Commissioner Cynthia Glassman a lengthy dissent to the adoption of Reg NMS twenty years ago last month.[19] This dissent is even more compelling now that we have had two decades of prescriptive requirements that distort market activity and impede the evolution of our securities markets. Congress clearly intended that “competitive forces, rather than unnecessary regulation, guide the development of the national market system.”[20] I will look for ways to bring us back in line with that intent and thereby promote innovation and competition in our markets.

    Fostering Innovation:  Commercial Viability is Our True North

    Finally, innovation and entrepreneurialism are the engines of the American economy. President Trump has described America as a “nation of builders.”[21] Under my leadership, the Commission will encourage our nation’s builders rather than constrain them with red tape and one-size-fits-all rules. While the Commission is actively considering industry requests that could jumpstart innovative activity, we are also contemplating an innovation exemption that would allow registrants and non-registrants to quickly go to market with new business models and services that do not neatly fit within our existing rules and regulations. The Commission will continue to ensure that market participants adhere to certain conditions and requirements designed to achieve the policy aims of the federal securities laws.

    Under my vision for an innovation exemption, innovators and visionaries will be able to immediately enter the market with new technologies and business models but will not be required to comply with incompatible or burdensome prescriptive regulatory requirements that hinder productive economic activity. Instead, they will be able to comply with certain principles-based conditions designed to achieve the core policy aims of the federal securities laws. These conditions may include, for example, a commitment to make periodic reports to the Commission, incorporate whitelisting or “verified pool” functionality, and restrict tokenized securities that do not adhere to a token standard that incorporates compliance features, such as ERC3643.[22] I encourage market participants and SEC staff alike to have an eye towards commercial viability when contemplating what various models could look like.

    ***

    As we advance these priorities, I look forward to working with my counterparts across the Administration to make the United States the crypto capital of the world. This represents more than a regulatory shift—it is a generational opportunity.

    From the leaves of a buttonwood tree to ledgers on a blockchain, the winds of innovation still blow—and it is our task that they carry American leadership forward. After all, ladies and gentlemen, we have never been content to follow. We will not watch from the sidelines. We will lead. We will build. And, we will ensure that the next chapter of financial innovation is written right here in America.

    Thank you very much for your time today. I encourage you to be attentive to our coming announcements and proposals and, as always, I welcome your thoughtful comments and suggestions.


    [2] See The History of NYSE, New York Stock Exchange, https://www.nyse.com/history-of-nyse.

    [3] See Wall Street: The Paperwork Predicament, Time Magazine (June 21, 1968), https://time.com/archive/6636314/wall-street-the-paperwork-predicament/.

    [4] See A Short History of the Depository Trust Company, Securities and Exchange Commission Historical Society (1999), https://www.sechistorical.org/collection/papers/1990/1999_0101_DTCHistory.pdf.

    [6] Danny Lewis, The Physical Stock Ticker Is a Relic, But Its Influence Reverberates Loudly Today, Smithsonian Magazine (Nov. 15, 2016), https://www.smithsonianmag.com/smart-news/the-physical-stock-ticker-is-a-relic-but-its-influence-reverberates-loudly-today-180961092/.

    [7] Transformation & Regulation: Equities Market Structure, 1934 to 2018: Reg ATS, Securities and Exchange Commission Historical Society, https://www.sechistorical.org/museum/galleries/msr/msr04c_reg_ats.php.

    [10] See, e.g., David H. Thompson et al., Operation Choke Point 2.0: The Federal Bank Regulators Come For Crypto, Cooper & Kirk (Mar. 24, 2023),  https://www.cooperkirk.com/wp-content/uploads/2023/03/Operation-Choke-Point-2.0.pdf; Testimony of Paul Grewal, Chief Legal Officer, Coinbase, Before the U.S. House Committee on Financial Services Subcommittee on Oversight and Investigations (Feb. 6, 2025), https://www.congress.gov/119/meeting/house/117858/witnesses/HHRG-119-BA09-Wstate-GrewalP-20250206.pdf.

    [11] See The White House, Unleashing Prosperity Through Deregulation (Jan. 31, 2025), https://www.whitehouse.gov/presidential-actions/2025/01/unleashing-prosperity-through-deregulation/.

    [12] See e.g., Commissioner Hester Peirce, Hobs and Hobbes: Wharton FinTech Lecture, Securities and Exchange Commission (Nov. 1, 2024), https://www.sec.gov/newsroom/speeches-statements/peirce-remarks-wharton-fintech-110124.

    [13] See e.g., Akash Sriram, California DMV puts 42 million car titles on blockchain to fight fraud, Reuters (July 30, 2024), https://www.reuters.com/technology/california-dmv-puts-42-million-car-titles-blockchain-fight-fraud-2024-07-30/.

    [14] See Danny Nelson, Crypto Airdrops Ban U.S. Users, but Americans Are Claiming Tokens Anyway, CoinDesk (Aug. 21, 2024), https://www.coindesk.com/policy/2024/08/21/crypto-airdrops-ban-us-users-but-americans-are-claiming-tokens-anyway.

    [15] See e.g., CNBC Television, BlackRock CEO Larry Fink: ‘I want the SEC to rapidly approve tokenization of bonds and stocks’, YouTube (Jan. 23, 2025), https://www.youtube.com/watch?v=Mi3q_upPjBM.

    [16] Chairman Paul Atkins, Remarks at Crypto Task Force Roundtable on Decentralized Finance, Securities and Exchange Commission (June 9, 2025), https://www.sec.gov/newsroom/speeches-statements/atkins-remarks-defi-roundtable-060925.

    [17] See Commissioner Hester Peirce, Lava and Lamps: Opening Remarks for Crypto Custody Roundtable, Securities and Exchange Commission (Apr. 25, 2025), https://www.sec.gov/newsroom/speeches-statements/peirce-lava-lamps-opening-remarks-crypto-custody-roundtable-042525.

    [18] Chairman Paul Atkins, Prepared Remarks Before SEC Speaks, Securities and Exchange Commission (May 19, 2025), https://www.sec.gov/newsroom/speeches-statements/atkins-prepared-remarks-sec-speaks-051925.

    [19] Commissioners Cynthia Glassman and Paul Atkins, Dissent of Commissioners Cynthia A. Glassman and Paul S. Atkins to the Adoption of Regulation NMS, Securities and Exchange Commission (June 9, 2005), https://www.sec.gov/files/rules/final/34-51808-dissent.pdf.

    [21] Hendrix, supra note 11.

    [22] For additional  information on the ERC3643 protocol, see Overview of the Protocol: ERC-3643 Permissioned Tokens, ERC3643 Association, https://docs.erc3643.org/erc-3643.

    MIL OSI USA News –

    August 5, 2025
  • MIL-OSI Submissions: Your dog can read your mind – sort of

    Source: The Conversation – UK – By Laura Elin Pigott, Senior Lecturer in Neurosciences and Neurorehabilitation, Course Leader in the College of Health and Life Sciences, London South Bank University

    Dmytro Zinkevych/Shutterstock.com

    Your dog tilts its head when you cry, paces when you’re stressed, and somehow appears at your side during your worst moments. Coincidence? Not even close.

    Thousands of years of co-evolution have given dogs special ways to tune in to our voices, faces and even brain chemistry. From brain regions devoted to processing our speech to the “love hormone” or oxytocin that surges when we lock eyes, your dog’s mind is hardwired to pick up on what you’re feeling.

    The evidence for this extraordinary emotional intelligence begins in the brain itself. Dogs’ brains have dedicated areas that are sensitive to voice, similar to those in humans. In a brain imaging study, researchers found that dogs possess voice-processing regions in their temporal cortex that light up in response to vocal sounds.

    Dogs respond not just to any sound, but to the emotional tone of your voice. Brain scans reveal that emotionally charged sounds – a laugh, a cry, an angry shout – activate dogs’ auditory cortex and the amygdala – a part of the brain involved in processing emotions.

    Dogs are also skilled face readers. When shown images of human faces, dogs exhibit increased brain activity. One study found that seeing a familiar human face activates a dog’s reward centres and emotional centres – meaning your dog’s brain is processing your expressions, perhaps not in words but in feelings.

    Dogs don’t just observe your emotions; they can “catch” them too. Researchers call this emotional contagion, a basic form of empathy where one individual mirrors another’s emotional state. A 2019 study found that some dog-human pairs had synchronised cardiac patterns during stressful times, with their heartbeats mirroring each other.

    This emotional contagion doesn’t require complex reasoning – it’s more of an automatic empathy arising from close bonding. Your dog’s empathetic yawns or whines are probably due to learned association and emotional attunement rather than literal mind-mirroring.

    The oxytocin effect

    The most remarkable discovery in canine-human bonding may be the chemical connection we share. When dogs and humans make gentle eye contact, both partners experience a surge of oxytocin, often dubbed the “love hormone”.

    In one study, owners who held long mutual gazes with their dogs had significantly higher oxytocin levels afterwards, and so did their dogs.

    This oxytocin feedback loop reinforces bonding, much like the gaze between a parent and infant. Astonishingly, this effect is unique to domesticated dogs: hand-raised wolves did not respond the same way to human eye contact. As dogs became domesticated, they evolved this interspecies oxytocin loop as a way to glue them emotionally to their humans. Those soulful eyes your pup gives you are chemically binding you two together.

    Beyond eye contact, dogs are surprisingly skilled at reading human body language and facial expressions. Experiments demonstrate that pet dogs can distinguish a smiling face from an angry face, even in photos.

    Dogs show a subtle right-hemisphere bias when processing emotional cues, tending to gaze toward the left side of a human’s face when assessing expressions – a pattern also seen in humans and primates.

    When dogs and humans make eye contact, both experience a surge of oxytocin.
    Dmytro Zinkevych/Shutterstock.com

    Dogs rely on multiple senses to discern how you’re feeling. A cheerful, high-pitched “Good boy!” with a relaxed posture sends a very different message than a stern shout with rigid body language. Remarkably, they can even sniff out emotions. In a 2018 study, dogs exposed to sweat from scared people exhibited more stress than dogs that smelled “happy” sweat. In essence, your anxiety smells unpleasant to your dog, whereas your relaxed happiness can put them at ease.

    Bred for friendship

    How did dogs become so remarkably attuned to human emotions? The answer lies in their evolutionary journey alongside us. Dogs have smaller brains than their wild wolf ancestors, but in the process of domestication, their brains may have rewired to enhance social and emotional intelligence.

    Clues come from a Russian fox domestication experiment. Foxes bred for tameness showed increased grey matter in regions related to emotion and reward. These results challenge the assumption that domestication makes animals less intelligent. Instead, breeding animals to be friendly and social can enhance the brain pathways that help them form bonds.

    In dogs, thousands of years living as our companions have fine-tuned brain pathways for reading human social signals. While your dog’s brain may be smaller than a wolf’s, it may be uniquely optimised to love and understand humans.

    Dogs probably aren’t pondering why you’re upset or realising that you have distinct thoughts and intentions. Instead, they excel at picking up on what you’re projecting and respond accordingly.

    So dogs may not be able to read our minds, but by reading our behaviour and feelings, they meet us emotionally in a way few other animals can. In our hectic modern world, that cross-species empathy is not just endearing; it’s evolutionary and socially meaningful, reminding us that the language of friendship sometimes transcends words entirely.


    Get your news from actual experts, straight to your inbox. Sign up to our daily newsletter to receive all The Conversation UK’s latest coverage of news and research, from politics and business to the arts and sciences.

    Laura Elin Pigott does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Your dog can read your mind – sort of – https://theconversation.com/your-dog-can-read-your-mind-sort-of-261720

    MIL OSI –

    August 5, 2025
  • Trump’s envoy meets Netanyahu for Gaza aid, ceasefire push

    Source: Government of India

    Source: Government of India (4)

    U.S. special envoy Steve Witkoff met Israeli Prime Minister Benjamin Netanyahu on Thursday in a bid to salvage Gaza truce talks and tackle a humanitarian crisis in the enclave, where a global hunger monitor has warned that famine is unfolding.

    Shortly after Witkoff’s arrival, President Donald Trump posted on his Truth Social network: “The fastest way to end the Humanitarian Crises in Gaza is for Hamas to SURRENDER AND RELEASE THE HOSTAGES!!”

    Indirect ceasefire talks between Israel and Palestinian Islamist group Hamas in Doha ended in deadlock last week with the sides trading blame for the impasse and gaps lingering over issues including the extent of an Israeli military withdrawal.

    Witkoff arrived with Israel facing mounting international pressure over the widespread destruction of Gaza and constraints on aid in the territory, with Canada the latest Western power to say it will recognise a Palestinian state.

    Israel on Wednesday sent a response to Hamas’ latest amendments to a U.S. proposal that would see a 60-day ceasefire and the release of some hostages in exchange for Palestinian prisoners, a source familiar with the details said.

    There was no immediate comment from Hamas. Israeli officials have in recent days said Israel might declare that it would annex parts of Gaza if the stalemate continues.

    Gaza medical officials said at least 23 people were reported killed by Israeli fire across the enclave, including 12 people among crowds who had gathered to receive aid around the Netzarim corridor, an area held by Israeli troops in central Gaza.

    The Israeli military said that its troops had fired warning shots to disperse crowds that were endangering them with no casualties identified.

    Since the war began, the Gaza health ministry has recorded 156 deaths from starvation and malnutrition, most of them in recent weeks, including at least 90 children.

    Israel’s Public Broadcaster Kan said Witkoff would also visit an aid distribution site in Gaza.

    Confronted by rising international outrage over images of starving children, Israel said on Sunday it would halt military operations for 10 hours a day in parts of Gaza and designate secure routes for convoys delivering food and medicine.

    CALLS ON HAMAS TO DISARM

    The U.N. Office for the Coordination of Humanitarian Affairs said on Wednesday the United Nations and its partners had been able to bring more food into Gaza in the first two days of pauses, but the volume was “still far from enough”.

    Even with more aid running through Gaza, residents face peril from Israeli forces and Palestinian looters when trying to reach the supplies.

    “I have tried several times to grab a sack of flour. The only time I managed to do so, someone with a knife froze me in the street and took it away, threatening to stab me,” one man from Deir Al-Balah told Reuters, asking not to be identified.

    With the number of Palestinians killed in almost two years of war passing 60,000 this week, pressure has been mounting in Gaza on Hamas to reach a ceasefire deal with Israel.

    “We can save thousands of lives and maybe the war wouldn’t resume,” Rami from Gaza City told Reuters via a chat app.

    Mothers of hostages led a protest outside Netanyahu’s office, calling on the government to end the war.

    “End this nightmare,” said Yael Engel-Lichi, whose nephew had been taken hostage and released in a previous ceasefire. Twenty of the 50 hostages still held by militants in Gaza are believed to still be alive.

    Netanyahu, whose ruling coalition includes two far-right parties who want to conquer Gaza and re-establish Jewish settlements there, has said he will not end the war until Hamas no longer rules the enclave and lays down its arms.

    Hamas has rejected calls to disarm.

    Qatar and Egypt, who are mediating the ceasefire efforts, backed a declaration on Tuesday by France and Saudi Arabia which outlined steps for a two-state solution to the Israeli-Palestinian conflict.

    The declaration says Hamas “must end its rule in Gaza and hand over its weapons to the Palestinian Authority”, which is led by its rivals and exercises limited self-rule in parts of the Israeli-occupied West Bank.

    Israel has ruled out the Palestinian Authority gaining control of Gaza and on Thursday Defence Minister Israel Katz and Justice Minister Yariv Levin voiced support for annexing the West Bank – territory which the Palestinians seek for a state.

    Israel has denounced declarations by France, Britain and Canada since last week that they may recognise a Palestinian state, which Israel says amounts to rewarding Hamas for its October 7, 2023 assault on Israeli territory.

    That attack, when fighters killed 1,200 people and took 251 hostages back to Gaza, precipitated the war.

    German Foreign Minister Johann Wadephul, embarking on a visit to Israel, said negotiations for a two-state solution must begin but that for Germany, the recognition of a Palestinian state would come at the end of that process.

    (Reuters)

    August 5, 2025
  • MIL-OSI Russia: Financial news: Inflation in the regions is declining more and more confidently.

    Translation. Region: Russian Federal

    Source: Central Bank of Russia –

    An important disclaimer is at the bottom of this article.

    In June, prices fell or remained unchanged in 17 Russian regions, in 42 they rose less than in May, and in the rest, price growth accelerated.

    Food prices increased moderately in June, and vegetables and fruits became cheaper even more significantly than usual in the season. Eggs and butter continued to become cheaper, and sugar prices decreased. At the same time, tea, coffee and cocoa became more expensive faster.

    Among non-food products, the most noticeable decline in price was in equipment and electronics. Demand for these products was falling primarily due to the cooling of lending. The strengthening of the ruble also contributed.

    The growth in prices for services remained high, but was much less than in May. In particular, household, medical services, and foreign tourism services increased in price less.

    Annual inflation fell in 68 regions of the country in June. The Bank of Russia will continue to reduce price growth, maintaining high rates. According to the forecast, annual inflation will return to 4% in 2026 and remain close to this level in the future.

    For more information on inflation in each region, seeinformation and analytical materials, published on the website of the Bank of Russia.

    Preview photo: Medvedeva Oxana / Shutterstock / Fotodom

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

    August 5, 2025
  • MIL-OSI Russia: Financial news: Decision of the Board of Directors on Amendments to the Type C Account Regime

    Translation. Region: Russian Federal

    Source: Central Bank of Russia –

    An important disclaimer is at the bottom of this article.

    On July 31, 2025, the Board of Directors of the Bank of Russia decided to introduce Decision of the Board of Directors of the Bank of Russia dated November 21, 2022 “On the establishment of the type “C” account regime for settlements and the implementation (execution) of transactions (operations) to which the procedure for fulfilling obligations provided for by Decree of the President of the Russian Federation dated March 5, 2022 No. 95 “On the temporary procedure for fulfilling obligations to certain foreign creditors” applies change, adding the following words to paragraph twelve of subparagraph 1.1 of paragraph 1:

    “; transfers by order of a non-resident for whom a type “C” bank account has been opened in favor of a resident for the purpose of fulfilling the non-resident’s obligation to transfer funds, provided that transactions (operations) related to such transfers are concluded between the said resident and the non-resident from whose type “C” bank account funds are debited, which entail the transfer of ownership of securities to the resident in accordance with permits issued on the basis of decrees of the President of the Russian Federation, if the terms of such transactions (operations) provide for the alienation in favor of the non-resident of property (including property rights) recorded abroad, the disposal of which is restricted due to unfriendly actions of foreign states; transfers at the order of a non-resident for whom a type “C” bank account has been opened, in the amount of dividends previously credited to the type “C” bank account due to this non-resident, in favor of the resident for the purpose of fulfilling the non-resident’s obligation to transfer funds, subject to obtaining permission issued on the basis of decrees of the President of the Russian Federation to pay dividends to the non-resident.”

    The decision of the Board of Directors of the Bank of Russia to amend the decision of the Board of Directors of the Bank of Russia dated November 21, 2022 shall apply from the date of its publication on the official website of the Bank of Russia on the information and telecommunications network “Internet”.

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

    August 5, 2025
  • MIL-OSI Russia: Financial News: Official Analytical Information Publication Calendar for August 2025

    Translation. Region: Russian Federal

    Source: Central Bank of Russia –

    An important disclaimer is at the bottom of this article.

    31.07.202516: 00Total international reserve assets, end of working week*weekly values31.07.2025—Banking System Review (in accordance with the requirements of the IMF SDDS)*01.07.202501.08.202511: 00Monetary base in narrow definition (Weekly values)weekly values06.08.2025—Average monthly actual rates on loans provided by Moscow banks in rubles and US dollars (MIACR, MIACR-IG, MIACR-B, MIACR USD)July 202506.08.2025—Average weighted interest rates on loans and deposits and the structure of loans and deposits by maturity (information on loans provided to non-financial organizations)June 202506.08.2025—Information on allocated funds (information on loans granted to legal entities and individual entrepreneurs; small and medium-sized businesses)01.07.202506.08.2025 –Brief commentary “Lending to legal entities and individual entrepreneurs”01.07.202506.08.2025 –Information bulletin “Information on the mortgage housing lending market in Russia”01.07.202507.08.2025 –Financial assets and liabilities of the Households sector for selected financial instruments01.07.202507.08.2025 –Non-financial sector and household debt ratio for bank loans and issued debt securities01.07.202507.08.2025 –Key performance indicators of mutual investment fundsJune 202507.08.2025—Households sector transactions with financial assets and liabilities for individual financial instruments01.07.202507.08.202516: 00Total international reserve assets, end of working week*weekly values07.08.202516:00International reserves of the Russian Federation (as of the beginning of the reporting date)08.08.202507.08.202516: 00International reserve assets (end of period) (in accordance with IMF SDDS requirements)*July 202507.08.2025—Dynamic series of key performance indicators of mutual investment funds and joint-stock investment fundsJune 202508.08.2025—Average weighted interest rates on loans and deposits and the structure of loans and deposits by maturity (information on loans granted to individuals; deposits of individuals and non-financial organizations)June 202508.08.2025—Information on average arithmetic interest rates on deposits of individuals in rubles, US dollars and eurosJune 202508.08.2025—Brief commentary “Interest rates on credit and deposit operations of credit institutions in rubles”June 202508/08/202511:00Monetary base in narrow definition (Weekly values)weekly values08.08.2025—Monetary base in a narrow definition01.08.202511.08.202516: 00Foreign trade of the Russian Federation in goods (according to the balance of payments methodology)*June 202512.08.2025—Key Stock Market Indicators*July 202513.08.2025—Statistical Bulletin “Lending to Small and Medium-Sized Businesses”June 2025 08/14/2025 16:00Assessment of the balance of payments of the Russian FederationJanuary-June 2025 08/14/2025 16:00Assessment of key aggregates of the balance of payments of the Russian FederationJanuary-June 2025 08/14/2025 16:00Assessment of the external debt of the Russian Federation01.07.202514.08.202516: 00Total international reserve assets, end of working week*weekly values14.08.2025—Central Bank Survey (in accordance with IMF SDDS requirements)*01.08.202514.08.2025 –Short-term external debt of the Russian Federation by remaining maturity01.04.202514.08.2025 –Debt securities owned by Russian banks transferred under repo transactions with the Bank of Russia01.08.202514.08.2025 –Monetary base in a broad definition01.08.202515.08.2025 –Information on early repayment and refinancing of mortgage housing loansII quarter 2025 08/15/2025—Average daily turnover indicators of the interbank loan (deposit) market and repo transactionsJuly 2025 08/15/2025—Key derivative indicators of the ruble exchange rate dynamicsJuly 2025 08/15/2025 16:00The share of non-resident investments in the volume of bond issues of external bond loans of the Russian Federation01.07.202515.08.2025 –Dynamic series of the main indicators of the segment of individual investment accounts (IIA)II quarter 2025 08/15/202511:00Monetary base in narrow definition (Weekly values)weekly values15.08.202516:00Foreign trade of the Russian Federation in services by monthJune 2025 08/15/2025—Currency structure of settlements for the supply of goods and provision of services under foreign trade contracts by geographic zones and currencies of states in accordance with the Order of the Government of the Russian Federation dated 05.03.2022 No. 430-rJune 202520.08.202516:00Assessment of upcoming changes in international reserves and other liquidity in foreign currency of the monetary authorities of the Russian Federation*01.08.202521.08.202516: 00Total international reserve assets, end of working week*weekly values21.08.2025—Central Bank Review01.08.202521.08.2025 –Review of credit institutions01.08.202521.08.2025 –Overview of the banking system01.08.202521.08.2025 –Listed shares of Russian issuers traded on the domestic market01.08.202521.08.2025 –Money supply M2 (national definition)01.08.202521.08.2025 –Variable coupon debt securities issued on the domestic market by type of base indicator01.08.202521.08.2025 –Domestic debt securities issued by interest rate types01.08.202521.08.2025 –Domestic debt securities01.08.202522.08.2025 –International investment position of the Russian Federation in national and foreign currencies01.04.202522.08.202511: 00Monetary base in narrow definition (Weekly values)weekly values26.08.202516:00The share of non-resident investments in the volume of federal loan bond issues01.08.202527.08.202516: 00The share of non-resident investments in the volume of federal loan bond issues01.08.202528.08.202516: 00Total international reserve assets, end of working week*weekly values28.08.2025—Domestic debt securities included in the sustainable development sector01.08.202529.08.2025 –Financial accounts and balance sheets of financial assets and liabilities of the system of national accounts of the Russian Federation01.04.202529.08.2025 –Information on deposited funds (information on loans granted to individuals)01.08.202529.08.2025 –Information on attracted funds (information on funds of organizations, bank deposits (deposits) and other attracted funds of legal entities and individuals, budget funds in accounts opened in credit institutions)01.08.202529.08.2025 –Indicators of the housing (mortgage housing) lending market01.08.202529.08.2025 –Key performance indicators of non-state pension funds operating in the area of compulsory pension insuranceII quarter 2025 08/29/2025—Key performance indicators of non-state pension funds operating in non-state pension provisionII quarter 2025 08/29/2025—Banking System Review (in accordance with the requirements of the IMF SDDS)*01.08.202529.08.202511: 00Monetary base in narrow definition (Weekly values)weekly values01.09.2025—Dynamic series of the main performance indicators of professional participants in the securities marketII quarter 2025 09/01/2025—Dynamic series of the main indicators of brokers’ activitiesII quarter 202502.09.2025—Key indicators of the balance sheet and financial performance report of management companiesII quarter 2025 09/02/2025—Financial Sector Review01.04.202502.09.2025 –Review of other financial institutions01.04.202502.09.2025 –Dynamic series of key performance indicators of management companiesII quarter 2025 09/02/2025—Dynamic series of key performance indicators of trust managersII quarter 202509/04/2025—Average monthly actual rates on loans provided by Moscow banks in rubles and US dollars (MIACR, MIACR-IG, MIACR-B, MIACR USD)August 202509/04/202516:00Total international reserve assets, end of working week*weekly values05.09.2025—Information on the main performance indicators of the insurerJanuary-June 202505.09.2025—Non-financial sector and household debt ratio for bank loans and issued debt securities08.08.202505.09.202516: 00International reserves of the Russian Federation (as of the beginning of the reporting date)09.09.202505.09.202516: 00International reserve assets (end of period) (in accordance with IMF SDDS requirements)*August 202509/05/2025—Information bulletin “Information on the mortgage housing lending market in Russia”08.08.202505.09.202511: 00Monetary base in narrow definition (Weekly values)weekly values05.09.2025—Monetary base in a narrow definition01.09.202508.09.2025 –Financial assets and liabilities of the Households sector for selected financial instruments01.08.202508.09.2025 –Average weighted interest rates on loans and deposits and the structure of loans and deposits by maturity (information on loans granted to individuals; deposits of individuals and non-financial organizations)July 202509/08/2025—Average weighted interest rates on loans and deposits and the structure of loans and deposits by maturity (information on loans provided to non-financial organizations)July 202509/08/2025—Information on average arithmetic interest rates on deposits of individuals in rubles, US dollars and eurosJuly 202509/08/2025—Information on allocated funds (information on loans granted to legal entities and individual entrepreneurs; small and medium-sized businesses)01.08.202508.09.2025 –Households sector transactions with financial assets and liabilities for individual financial instruments01.08.202508.09.2025 –Brief commentary “Interest rates on credit and deposit operations of credit institutions in rubles”July 202509/08/2025—Brief commentary “Lending to legal entities and individual entrepreneurs”08.08.202509.09.2025 –Key performance indicators of mutual investment fundsJuly 202509.09.2025—Dynamic series of key performance indicators of mutual investment funds and joint-stock investment fundsJuly 202511.09.202516:00Total international reserve assets, end of working week*weekly values11.09.202516:00Foreign trade of the Russian Federation in goods (according to the balance of payments methodology)*July 202512.09.2025—Key derivative indicators of the ruble exchange rate dynamicsAugust 2025 09/12/2025—Key Stock Market Indicators*August 2025 09/12/2025—Key performance indicators of housing savings cooperativesII quarter 2025 09/12/2025—Central Bank Survey (in accordance with IMF SDDS requirements)*01.09.202512.09.2025 –Monetary base in a broad definition01.09.202512.09.202511: 00Monetary base in narrow definition (Weekly values)weekly values15.09.2025—Statistical Bulletin “Lending to Small and Medium-Sized Businesses”July 202515.09.2025—Average daily turnover indicators of the interbank loan (deposit) market and repo transactionsAugust 202509/15/202516:00Assessment of the balance of payments of the Russian FederationJanuary-July 2025 09/15/2025 16:00Assessment of key aggregates of the balance of payments of the Russian FederationJanuary-July 202515.09.2025—Currency structure of settlements for the supply of goods and provision of services under foreign trade contracts by geographic zones and currencies of states in accordance with the Order of the Government of the Russian Federation dated 05.03.2022 No. 430-rJuly 202516.09.2025—Debt securities owned by Russian banks transferred under repo transactions with the Bank of Russia01.09.202516.09.202516: 00Foreign trade of the Russian Federation in services by monthJuly 2025 09/18/2025 16:00Total international reserve assets, end of working week*weekly values19.09.202516:00Assessment of upcoming changes in international reserves and other liquidity in foreign currency of the monetary authorities of the Russian Federation*01.09.202519.09.202511: 00Monetary base in narrow definition (Weekly values)weekly values22.09.2025—Central Bank Review01.09.202522.09.2025 –Review of credit institutions01.09.202522.09.2025 –Overview of the banking system01.09.202522.09.2025 –Money supply M2 (national definition)01.09.202523.09.2025 –Listed shares of Russian issuers traded on the domestic market01.09.202523.09.2025 –Variable coupon debt securities issued on the domestic market by type of base indicator01.09.202523.09.2025 –Domestic debt securities issued by interest rate types01.09.202523.09.2025 –Domestic debt securities01.09.202525.09.202516: 00Total international reserve assets, end of working week*weekly values25.09.202516:00The share of non-resident investments in the volume of federal loan bond issues01.09.202526.09.202511: 00Monetary base in narrow definition (Weekly values)weekly values29.09.2025—Domestic debt securities included in the sustainable development sector01.09.202530.09.2025 –Information on deposited funds (information on loans granted to individuals)01.09.202530.09.2025 –Information on attracted funds (information on funds of organizations, bank deposits (deposits) and other attracted funds of legal entities and individuals, budget funds in accounts opened in credit institutions)01.09.202530.09.2025 –Indicators of the housing (mortgage housing) lending market01.09.202530.09.202516: 00Balance of payments, international investment position and external debt of the Russian FederationII quarter 2025 09.30.202516:00Balance of Payments of the Russian Federation. Analytical PresentationII quarter 2025 09.30.202516:00Balance of Payments of the Russian Federation. Standard Components*II quarter 2025 09/30/2025—Banking System Review (in accordance with the requirements of the IMF SDDS)*01.09.202530.09.202516: 00International Investment Position of the Russian Federation. Standard Components (as of date)*01.07.202530.09.202516: 00International Investment Position of the Russian Federation. Main AggregatesII quarter 2025 09.30.202516:00External debt of the Russian Federation by maturity and financial instruments*01.07.202530.09.202516: 00External debt of the Russian Federation in national and foreign currencies01.07.202530.09.202516: 00External debt of the Russian Federation01.07.202501.10.2025 –Financial assets and liabilities of the Households sector01.07.202501.10.2025 –Households sector transactions with financial assets and liabilities01.07.202502.10.202516: 00Total international reserve assets, end of working week*weekly values03.10.202511:00Monetary base in narrow definition (Weekly values)weekly values03.10.2025—Monetary base in a narrow definition01.10.202506.10.2025 –Average monthly actual rates on loans provided by Moscow banks in rubles and US dollars (MIACR, MIACR-IG, MIACR-B, MIACR USD)September 202507.10.2025—Average weighted interest rates on loans and deposits and the structure of loans and deposits by maturity (information on loans provided to non-financial organizations)August 2025 10/07/2025—Information on allocated funds (information on loans granted to legal entities and individual entrepreneurs; small and medium-sized businesses)09.09.202507.10.2025 –Non-financial sector and household debt ratio for bank loans and issued debt securities01.09.202507.10.202516: 00International reserves of the Russian Federation (as of the beginning of the reporting date)01.10.202507.10.202516: 00International reserve assets (end of period) (in accordance with IMF SDDS requirements)*September 202507.10.2025—Brief commentary “Lending to legal entities and individual entrepreneurs”09.09.202507.10.2025 –Information bulletin “Information on the mortgage housing lending market in Russia”09.09.202507.10.2025 –Foreign trade of the Russian Federation in services in the structure of the extended classification of services (according to the balance of payments methodology)II quarter 2025 10/08/2025—Financial assets and liabilities of the Households sector for selected financial instruments09.09.202508.10.2025 –Average weighted interest rates on loans and deposits and the structure of loans and deposits by maturity (information on loans granted to individuals; deposits of individuals and non-financial organizations)August 2025 10/08/2025—Information on average arithmetic interest rates on deposits of individuals in rubles, US dollars and eurosAugust 2025 10/08/2025—Key performance indicators of mutual investment fundsAugust 2025 10/08/2025—Households sector transactions with financial assets and liabilities for individual financial instruments09.09.202508.10.2025 –Brief commentary “Interest rates on credit and deposit operations of credit institutions in rubles”August 2025 10/08/2025—Dynamic series of key performance indicators of mutual investment funds and joint-stock investment fundsAugust 2025 10/09/2025—Current account of the balance of payments of the Russian Federation with seasonal adjustmentII quarter 2025 09.10.2025—Main aggregates of the current account of the balance of payments of the Russian Federation with seasonal adjustmentII quarter 202509.10.202516:00Total international reserve assets, end of working week*weekly values09.10.2025—Dynamics of individual indicators of the current account with seasonal adjustmentII quarter 2025 10.10.2025—Direct investments of the Russian Federation by the asset/liability principle and the directional principle01.07.202510.10.2025 –List of financial sector organizations01.10.202510.10.2025 –Key Stock Market Indicators*September 202510.10.2025—Accumulated balances on direct investments of the Russian Federation on direct investment instruments (by the principle of direction)01.07.202510.10.202511: 00Monetary base in narrow definition (Weekly values)weekly values13.10.202516:00Foreign trade of the Russian Federation in goods (according to the balance of payments methodology)*August 2025 10/14/2025—Export of certain types of services by subjects of the Russian FederationII quarter 2025 October 14, 2025—Statistical Bulletin “Lending to Small and Medium-Sized Businesses”August 2025 10/14/2025—Key derivative indicators of the ruble exchange rate dynamicsSeptember 202510/14/2025—Central Bank Survey (in accordance with IMF SDDS requirements)*01.10.202514.10.2025 –Import of certain types of services by subjects of the Russian FederationII quarter 2025 October 14, 2025—Monetary base in a broad definition01.10.202515.10.2025 –Average daily turnover indicators of the interbank loan (deposit) market and repo transactionsSeptember 202510/15/202516:00Assessment of the balance of payments of the Russian FederationJanuary-August 202510/15/202516:00Assessment of key aggregates of the balance of payments of the Russian FederationJanuary-August 202510/15/2025—Currency structure of settlements for the supply of goods and provision of services under foreign trade contracts by geographic zones and currencies of states in accordance with the Order of the Government of the Russian Federation dated 05.03.2022 No. 430-rAugust 202510/16/202516:00Total international reserve assets, end of working week*weekly values16.10.2025—Debt securities owned by Russian banks transferred under repo transactions with the Bank of Russia01.10.202516.10.202516: 00Foreign trade of the Russian Federation in services by monthAugust 2025 10/17/2025—Extended Non-Financial Sector and Household Debt Measure01.07.202517.10.202511: 00Monetary base in narrow definition (Weekly values)weekly values20.10.2025—Export of certain types of services by types of economic activity of residents of the Russian FederationII quarter 202510/20/202516:00Assessment of upcoming changes in international reserves and other liquidity in foreign currency of the monetary authorities of the Russian Federation*01.10.202520.10.2025 –Central Bank Review01.10.202520.10.2025 –Review of credit institutions01.10.202520.10.2025 –Overview of the banking system01.10.202520.10.2025 –Import of certain types of services by types of economic activity of residents of the Russian FederationII quarter 2025 October 20, 2025—Money supply M2 (national definition)01.10.202522.10.2025 –Listed shares of Russian issuers traded on the domestic market01.10.202522.10.2025 –Variable coupon debt securities issued on the domestic market by type of base indicator01.10.202522.10.2025 –Domestic debt securities issued by interest rate types01.10.202522.10.2025 –Domestic debt securities01.10.202523.10.202516: 00Total international reserve assets, end of working week*weekly values24.10.202511:00Monetary base in narrow definition (Weekly values)weekly values27.10.202516:00The share of non-resident investments in the volume of federal loan bond issues01.10.202530.10.2025 –Information on deposited funds (information on loans granted to individuals)01.10.202530.10.2025 –Information on attracted funds (information on funds of organizations, bank deposits (deposits) and other attracted funds of legal entities and individuals, budget funds in accounts opened in credit institutions)01.10.202530.10.2025 –Indicators of the housing (mortgage housing) lending market01.10.202530.10.202516: 00Total international reserve assets, end of working week*weekly values30.10.2025—Domestic debt securities included in the sustainable development sector01.10.202531.10.2025 –Banking System Review (in accordance with the requirements of the IMF SDDS)*01.10.202531.10.202511: 00Monetary base in narrow definition (Weekly values)weekly values

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

    August 5, 2025
  • MIL-OSI Asia-Pac: Hong Kong Science Museum’s new exhibition to showcase country’s achievements in aerospace, aviation and navigation (with photos)

    Source: Hong Kong Government special administrative region – 4

         Jointly presented by the Hong Kong Special Administrative Region Government and the China National Space Administration (CNSA), the “Bank of China (Hong Kong) Presents: National Development and Achievements Series – Endless Exploration: The Journey of Chinese Aerospace, Aviation and Navigation” exhibition will be launched at the Hong Kong Science Museum (HKScM) from tomorrow (August 1) to September 7. This is the first time for Hong Kong to showcase the country’s achievements in these three major arenas in the same exhibition. Featuring a rich array of artefacts, models, graphics, videos and interactive exhibits, the exhibition not only presents important developments in relevant fields, but also aims to inspire the public, especially youngsters, with a passion for technological innovation while enhancing national confidence in science and technology.
     
         Addressing the opening ceremony today (July 31), the Chief Secretary for Administration, Mr Chan Kwok-ki, said that the Chang’e-6’s successful return to earth bringing lunar soil samples from the far side of the Moon last year represents a global first, underscoring China’s leading position in lunar exploration. Hong Kong is proactively integrating into national development matters and making significant contributions, with local scientists having the opportunity to participate in major national scientific research projects. These achievements affirm Hong Kong’s unique advantages in contributing to national development with an international vision. He further said that this exhibition showcases the remarkable achievements of the Chang’e lunar exploration programme as well as the country’s remarkable accomplishments in aerospace, aviation and navigation. It also highlights Hong Kong’s role as a cultural hub connecting China with the world, telling the good story of China and promoting patriotism to the public.

         Other officiating guests today included the Chief Engineer of the CNSA, Dr Li Guoping; the First-level Inspector of the Department of Educational, Scientific and Technological Affairs of the Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region, Mr Liu Maozhou; the Vice Chairman and Chief Executive of Bank of China (Hong Kong) Limited, Mr Sun Yu; the Under Secretary for Culture, Sports and Tourism, Mr Raistlin Lau; the Convenor of the Working Group on Patriotic Education under the Constitution and Basic Law Promotion Steering Committee, Legislative Council Member, Dr Starry Lee; the Chairperson of the Science Sub-committee of the Museum Advisory Committee, Professor Alexander Wai; the Director of Leisure and Cultural Services, Ms Manda Chan; and the Museum Director of the HKScM, Mr Patrick Lau.
     
         This exhibition achieves several “firsts”, including the first concurrent display in Hong Kong of lunar soil samples collected from the far side and near side of the Moon by the Chang’e-6 and the Chang’e-5 respectively. Other exhibits debuting in Hong Kong include the Chang’e-6 returner and parachute, seawater samples collected from 10,000 metres under the sea, as well as models of the “three pearls” of the shipbuilding industry, namely an aircraft carrier, a luxury cruise ship and a liquefied natural gas carrier.
     
    Moreover, the HKScM will display large-scale aerospace, aviation and maritime models concurrently, including an approximately 12m-tall 1:5 Long March-5 launch vehicle and a full-size Fendouzhe full-ocean-depth manned submersible with a length of approximately 10m displayed outdoors, as well as a 1:8 model of a Y-20 heavy lifter with a wingspan of approximately 6m displayed indoors for the first time.
     
         Apart from the exhibits from the Mainland, the exhibition also presents Hong Kong’s significant contributions to the space and deep-sea exploration projects of the country. There are also interactive exhibits, namely the “Lunar Base”, the “Zhurong Rover Expedition” and more, for visitors to experience the challenges of building a lunar base and exploring Mars.
     
    Fixed-point guided tours will be provided on Saturdays and Sundays from August 9 to September 7. A series of lectures will be conducted on August 1 and August 4 by experts invited from the Mainland, who will share their knowledge of aviation, aerospace and navigation, as well as the achievements and future plans of the country in related fields. Members of the public are welcome to participate in the tours and lectures on-site. Other activities include experiment classes, workshops and demonstrations for the public to explore the scientific principles behind aviation and deep-sea navigation.
       
         The exhibition is jointly organised by the Leisure and Cultural Services Department and the News Center of the CNSA, as solely sponsored by the Bank of China (Hong Kong) Limited. It is one of the activities of the Chinese Culture Promotion Series. For details of the exhibition and activities, please visit the HKScM website at hk.science.museum/en/web/scm/exhibition/exploration2025.html.

                                                         

    MIL OSI Asia Pacific News –

    August 5, 2025
  • MIL-OSI Asia-Pac: DH fully committed to promoting and supporting breastfeeding in support of World Breastfeeding Week (with photos)

    Source: Hong Kong Government special administrative region – 4

    To support World Breastfeeding Week, the Department of Health (DH) today (July 31), in collaboration with the Hospital Authority (HA), the Hong Kong Committee for United Nations Children’s Fund (UNICEF) and the Baby Friendly Hospital Initiative Hong Kong Association, held a celebration event for World Breastfeeding Week 2025 to fully promote and support breastfeeding.
     
    World Breastfeeding Week is observed annually between August 1 and 7. The theme of this year is “Prioritise breastfeeding and create sustainable support systems”, which urges all sectors in the community to attach importance to breastfeeding, collaborate to provide comprehensive support to increase the sustainability of breastfeeding with the aim to enhance overall maternal and child health.
     
    International research shows that breastmilk is the ideal food for infants. Breastmilk is safe, clean and contains antibodies which can help prevent many common childhood illnesses. Breastfed children perform better in intelligence tests, are less likely to become overweight or obese, and are less prone to develop diabetes later in life.
     
    Speaking at the celebration event, the Under Secretary for Health, Dr Cecilia Fan, noted that cross-sector collaboration is crucial in achieving comprehensive support. The Government has long attached importance to the promotion, protection and support for breastfeeding, and has set up a multisectoral Committee on Promotion of Breastfeeding to promote breastfeeding through collaboration and a multipronged approach.
     
    The DH has fully launched and expedited the accreditation process for Baby-Friendly Health Facilities at its Maternal and Child Health Centres (MCHCs). Seven newly accredited Baby-Friendly MCHCs this year received certificates from the Baby Friendly Hospital Initiative Hong Kong Association at the event today. Currently, there are 15 Baby-Friendly MCHCs under the DH, while the remaining 14 MCHCs are undergoing the accreditation process. All eight public hospitals with obstetrics departments under the HA have been accredited as Baby Friendly Hospitals (BFHs). Two private hospitals providing delivery services have also started the accreditation process, with one of them already accredited. The Government encourages more private hospitals to join the BFHs. A dedicated working group under the Committee on Promotion of Breastfeeding has been set up to enhance and reinforce baby friendly measures at hospitals with maternity services. Accredited facilities have to formulate infant feeding policies and action plans, provide relevant training to staff members and continue to monitor the implementation of breastfeeding support measures, etc.
     
    Apart from the healthcare systems, the Government is also committed to creating a breastfeeding-friendly environment. Since early 2019, the Government mandated the provision of babycare and breastfeeding facilities in the newly built government premises for public and staff members’ use. Separately, since 2017, the Government has specified detailed requirements in the Conditions of Sale of new commercial land sale sites, including the area and number of babycare facilities and/or lactation rooms that shall be provided in these commercial development projects. Regarding workplaces, the Government encourages the implementation of the Breastfeeding Friendly Workplace policy. The DH issued guidelines for employers and employees with specific advice on supporting breastfeeding to enable working mothers to continue breastfeeding after returning to work. The Health Bureau, the DH and the Hong Kong Committee for UNICEF jointly launched the large-scale community-based campaign Say Yes to Breastfeeding since 2015 which aims to enhance breastfeeding support among premises and workplaces. 
     
    Comprehensive support is also provided for premature and critically ill babies. Dr Fan expressed that the Hong Kong Breast Milk Bank (HKBMB) which commenced service early this year, provides the best possible nutrition to many clinically needy infants through breast milk donated by selfless lactating mothers. The celebration event also invited breastfeeding families, a peer counsellor and a mother who benefited from the HKBMB, to share their experiences and feelings, with a view to reaffirming the importance of breastfeeding and appealing to family members, the community and workplace to support breastfeeding.
     
    With the start of the World Breastfeeding Week, a series of promotional activities will be launched by the DH, including displaying of publicity materials across the territory, producing a new Announcement in the Public Interest for TV broadcasts and advocating breastfeeding through radio, newspapers, social media and webpages etc.
     
    The Government will continue to encourage all sectors of the community to further promote, protect and support breastfeeding with a view to creating a breastfeeding-friendly environment and enhancing the sustainability of breastfeeding.
     
    Members of the public can visit the thematic website www.fhs.gov.hk/wbw2025/index.html for more information on World Breastfeeding Week 2025.

                  

    MIL OSI Asia Pacific News –

    August 5, 2025
  • MIL-OSI Russia: Financial news: Mutual funds will be allowed to reclassify.

    Translation. Region: Russian Federal

    Source: Central Bank of Russia –

    An important disclaimer is at the bottom of this article.

    From March 1, 2026, mutual investment funds (MIF) will be able to change their status from “qual” to “non-qual”. The conditions necessary for reclassification are spelled out ininstructions of the Bank of Russia.

    This opportunity is of interest primarily to those funds whose investment strategy initially assumed investments in high-risk projects, such as the construction of a shopping center or warehouses. However, subsequently, after the buildings are put into operation, such funds are ready to switch to a more conservative strategy.

    In order to reclassify the fund, the management company will, in particular, need to bring the rules of trust management, as well as the composition and structure of the fund, into line with the requirements for mutual funds for non-qualified investors.

    By the time the documents, including the adjusted rules, are sent to the Bank of Russia for registration, all units must be paid in full, and there must be no restrictions or grounds for termination with respect to the mutual fund itself.

    The change of status will allow qualified investors to exit the project after the completion of its risky stage and attract new shareholders who will be able to receive investment income.

    Preview photo: Cagkan Sayin / Shutterstock / Fotodom

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

    August 5, 2025
  • MIL-OSI Europe: EIB supports €100 million initiative to improve Cyprus’s road network

    Source: European Investment Bank

    EIB

    • EIB funds Cypriot government €100 million to make road travel easier and safer
    • The financial agreement is second tranche of €200m total funding to co-finance network upgrades and extensions
    • Works to include environmental management systems such as better water collection and drainage systems.

    The European Investment Bank (EIB) is funding Cyprus a further €100 million for a range of road improvements in the country. The EIB credit will cover 50% of the costs of planned renovations and extensions to make road travel in Cyprus easier and safer.

    The agreement is part of a €200 million approved EIB financing package for Cypriot road infrastructure. The first tranche of €100 million was signed in December 2024. The works, which will cover road networks and infrastructure improvement in various areas across the country, are due to be completed by 2029.

    “Investing in essential infrastructure like road networks is vital for strengthening social cohesion and driving economic growth in Cyprus” said EIB Vice-President Kyriacos Kakouris. “This project will have a real and lasting impact on the daily lives of Cypriots — improving mobility, enhancing safety, and boosting climate resilience”.

    The EIB’s agreement supports a multiyear national plan by the Cypriot Ministry of Transport, Communications and Works. The plan includes a wide range of works, from upgrading motorways, regional and rural roads, and building new bridges, tunnels and walking and cycling lanes, to upgraded traffic management systems and drainage systems.

    “This new financing agreement with the EIB reflects our strong and long-standing partnership. It will allow us to implement essential infrastructure projects that enhance road safety, connectivity, and sustainable mobility across Cyprus. We are grateful for the EIB’s continued support and its role as a key partner in our development efforts”, said Cypriot Minister of Finance Makis Keravnos.

    “The Ministry of Transport, Communications and Works, with the support of the European Investment Bank, promotes strategic land transport projects in urban and interurban areas, with the aim of improving accessibility in less privileged-isolated areas of Cyprus, enhancing road safety, addressing the impacts of climate change, promote alternative – sustainable travel options, as well as to improve the socio-economic cohesion of our island”, said Eleftherios Eleftheriou, Director of Public Works Department in his speech on behalf of the Minister of Transport, Communications and Works Alexis Vafeadis.

    EIB road financing in Cyprus

    With this new financing, total EIB’s investment in critical road projects in Cyprus has exceeded €670 million since 1998. Before the two recent €100m accords, the most recent EIB financing for this area in Cyprus was a 112 million loan in 2021 to support four projects in Nicosia, Limassol and Paphos as well as the Vasilikos Energy Centre road.

    Background information  

    EIB 

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, high-impact investments outside the European Union, and the capital markets union.  

    The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.  

    All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.  

    Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers. Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.

    High-quality, up-to-date photos of our headquarters for media use are available here.

    EIB supports €100 million initiative to improve Cyprus’s road network
    EIB supports €100 million initiative to improve Cyprus’s road network
    ©EIB
    Download original

    MIL OSI Europe News –

    August 5, 2025
  • MIL-OSI: Carronade Shares Perspectives on Viasat

    Source: GlobeNewswire (MIL-OSI)

    Carronade Supports Spin-Off or IPO of the Defense and Advanced Technologies Business

    Potential 215% to 520% Upside in the Stock if Company Completes a Separation

    Defense and Advanced Technologies is Worth $50/share Alone

    DARIEN, Conn., July 31, 2025 (GLOBE NEWSWIRE) — Carronade Capital Management, LP on behalf of its managed entities (“Carronade Capital”, “our” or “we”), have beneficial ownership of approximately 2.6% of the outstanding shares of Viasat, Inc., (NASDAQ: VSAT) (“Viasat” or the “Company”) today issued the following open letter outlining its perspective on Viasat’s ongoing strategic review and offering a clear and effective way to unlock the substantial, unrealized value embedded within the Company.

    Carronade’s letter underscores a compelling case for separating the undervalued and underappreciated Defense and Advanced Technologies (“DAT”) segment, which could be one of the most attractive pure-play defense-technology platforms in the market today, with best-in-class margins, double-digit revenue growth and significant exposure to next-gen defense technologies. Carronade believes a successful execution of a DAT separation would crystallize value for shareholders, empower both DAT and Communications Services segments to chart focused, capital-efficient growth strategies and bolster financial flexibility to drive the share price up to $100 per share. Carronade believes the remaining Communications Services segment would have less debt and be positioned for free cash flow generation.

    Carronade urges Viasat’s Board and management team to prioritize a DAT spin as the key outcome of the ongoing strategic review and believes it would garner strong investor support.

    The full letter follows:

    Carronade Capital Management, LP on behalf of its managed entities (“Carronade Capital,” “our,” or “we”) have beneficial ownership of approximately 2.6% of the outstanding shares of Viasat, Inc., (“Viasat” or the “Company”), making us one of Viasat’s top investors. We have been investors in Viasat since 2023 and are long-term believers in the Company’s mission, the strength of its leadership team, and the extraordinary strategic position the Company holds at the intersection of secure communications, global connectivity, and aerospace and defense technology.

    Today, we wanted to share our view that the current valuation of Viasat fails to reflect the value of its most important asset — the Defense and Advanced Technologies (“DAT”) business. We believe that the time has come to separate this crown jewel through a spin-off or IPO, a step which we believe should unlock tremendous value and can result in the pre-event Viasat shares trading at a range of ~$50 to $100+ per share. With the strategic review process already underway, we believe this is the clearest, most effective way to unlock the substantial, unrealized value embedded within the Company.

    Highlight A Premier High-Growth Aerospace and Defense Tech Platform

    The case for separation is compelling. In our view, the DAT segment could be one of the most attractive standalone defense-technology platforms in the public markets today. With best-in-class margins, double-digit revenue growth, and significant exposure to next-generation defense and dual-use technologies, DAT is already delivering on a vision to which many public and private peers can only aspire.

    Excluding the non-recurring contribution from the litigation settlement in Q2 FY2024, as reported revenue within DAT grew almost 17% in the last 12 months, with LTM EBITDA margins of 28%. Demonstrating the continued rapid trajectory of this business, the Company reported in Q4 FY2025 that the backlog within DAT grew 50% year over year with a book-to-bill of 1.2x. These figures also screen extremely well under the “Rule of 40”, combining profitability with robust growth, and we strongly believe the business would be rewarded accordingly on a standalone basis.

    We believe DAT’s business lines span critical and rapidly growing areas. This is further enhanced by market share gains, driving growth that continues to exceed overall TAM growth. DAT has the potential to benefit across the following new initiatives and new technologies:

    • Golden Dome – falls under Tactical Networking and Space & Mission Systems within DAT (providing encrypted mesh networking, battle management systems, ISR integration)
      • DAT’s tactical networking and secure communications systems are highly applicable to layered air and missile defense systems such as the Golden Dome. Its encrypted mesh networks and ISR data links can help integrate interceptors, radars, and command nodes in contested environment        
    • Next-Generation Encryption – part of Information Security & Cyber Defense, a core DAT unit
      • Develops advanced, Type 1-certified encryption for high-assurance military communications. As defense agencies adopt edge-resilient encryption, we believe DAT stands to benefit from long-cycle upgrades across satellites, tactical radios, and classified networks
    • Drones (UAVs and UAS) – spans Tactical Networking and Space & Mission Systems
      • Anti-jam networking solutions for a wide range of unmanned aerial systems. As demand accelerates for autonomous ISR and strike platforms, we believe DAT is well positioned to scale its footprint across drone technology
    • Direct-to-Device (D2D) – supported by both Advanced Technology & Other and Space & Mission Systems
      • DAT is advancing D2D capabilities through both government waveform programs and a commercial joint initiative with UAE-based Space42, focused on developing a global, 3GPP-compliant multi-orbit NTN platform designed to enable future connectivity directly to unmodified smartphones and IoT devices using licensed L-band and S-band spectrum
    • Low Earth Orbit (LEO) – squarely in Space & Mission Systems
      • The Space & Mission Systems team provides space-qualified hardware, optical inter-satellite links, and advanced ground integration tools that support LEO network resilience. As multi-orbit architectures gain traction, they benefit from integration roles across both government and commercial constellations

    The above are all long-cycle, durable growth markets with deep commercial and government demand, and we believe DAT is already winning. Yet despite this backdrop, from our perspective the market is barely valuing DAT at all — its performance is being obscured by broader investor concerns with respect to Communication Services, as evidenced by a nearly 20% short interest in the stock.

    Carronade’s Analysis Supports $50 – $100+ per Share Valuation

    This disconnect is further underscored by the current valuation environment for DAT’s aerospace and defense peers. Mid-cap defense-technology companies such as Kratos Defense & Security Solutions, AeroVironment, Karman Holdings, Redwire, and Mercury Systems (“Comp Set”) have historically traded between 20x-40x EV/EBITDA, and in many cases are significantly higher today, as public investors seek exposure to the growth in the aerospace and defense industry. By contrast, the market appears to be pricing Viasat as a structurally challenged communications conglomerate. We believe this framing fails to recognize both the profitability and the growth trajectory of DAT.

    It is not an overstatement to say that from a value perspective, Viasat is an aerospace and defense tech focused company first, that also happens to be in the satellite communications business. Our analysis suggests, utilizing a 20% discount to the median 2025E EBITDA multiple of the DAT Comp Set, less overall net debt, a valuation of over $50/share – more than 3x the current stock price – excluding any value for the $1.3 billion EBITDA Communication Services business or the $8/share in value from the Ligado Networks settlement. In total, using the historical ranges for the DAT Comp Set and 4.0x1 on the Communication Services business, we believe the stock is worth between ~$50-$100/share, and well in excess of $100/share if DAT trades at the current median of the Comp Set.

    While each peer has a distinct focus, they are all aerospace and defense technology companies that we believe are well positioned to benefit from similar tailwinds. Over the past five years, this Comp Set has generally traded at 20x to 40x EBITDA, with further multiple expansion seen in 2025. The chart below illustrates the implied Viasat share price after applying these historical ranges to DAT, alongside a fixed 4.0x multiple for Communication Services and our assumptions for the present value of the recent Ligado Networks settlement.

    DAT’s implied size, revenue growth, leading margins, and exposure to the most exciting aerospace and defense themes, highlight the favorable comparability to the Comp Set as shown below. With 50% year over year backlog growth, strong book-to-bill, and new recent awards, we believe growth trends are supported into 2026 and beyond.

    We believe the separation of DAT would not only catalyze a re-rating of that business but also deliver material benefits to the remaining company. Viasat could retain a portion of the spin-off for future monetization. If an IPO were pursued, proceeds could be used to de-lever the balance sheet, bolstering capital flexibility, while reducing financial risk. Moreover, the current stock price implies standalone valuation near the lows after adjusting for the approximately $8/share Ligado Networks settlement value that was unanticipated by most market participants. Finally, we believe separating DAT would allow both businesses to be valued on their own strategic and financial merits and create transparency into the dramatically different growth, TAMs, margin profiles, and capital requirements of each.

    Resilient Global Communications Business

    Carronade also believes the Communications Services segment is materially misunderstood by the market with competitors such as Starlink and Kuiper catalyzing a substantial amount of pessimism on the shares. We believe a separation will help shine a light on the positive trajectory of this business.

    With five-to-ten year contract terms in the in-flight connectivity (“IFC”) business, this unit of Communication Services has approximately 1,600 additional commercial aircraft that will be put into service under existing customer agreements with commercial airlines over time, on top of the 4,120 currently in-service aircraft, representing 39% growth2. The durability of IFC growth, coupled with a high-growth government business and an inflecting maritime business, as evidenced by NexusWave recently exceeding 1,000 vessel orders3, in our view demonstrates the long-term viability of the core satellite business. Critically, in our view Communication Services is set to generate consistent positive free cash flow in the coming quarters, and more significantly, the long-term cash generation of the satellite business is set to inflect strongly after the successful deployment of the ViaSat-3 F2 and F3 satellites. According to a research report from Deutsche Bank on March 24th4, each new ViaSat-3 satellite has the potential to add 2 to 3 percentage points of growth to Communication Services revenue, while also shifting the revenue mix toward higher-margin, internally provisioned capacity and reducing reliance on low-margin wholesale sales. Once capital expenditures for the ViaSat-3 constellation are complete, we expect annual capex to decline to below $1 billion (from ~$1.3 billion in FY2026), creating substantial room for accelerated free cash flow generation and debt paydown.

    Given all of the above, we believe our valuation of 4.0x on the Communication Services segment is conservative and unjustifiably below similar business valuations. SES, when accounting for the present value of 100MHz of possible C-band monetization, and pro forma for the Intelsat acquisition, trades at 4.25x-4.50x on the base business. Similarly, both Eutelsat and Iridium trade at high-single-digit EBITDA multiples5. In our view, the growth opportunities, end customers, and stickiness of contracts are significantly more attractive for Viasat’s Communication Services business.

    As a result of the settlement with Ligado Networks, the Company is set to receive $568 million in fiscal year 2026, coupled with a lease stream through 2107 that increases 3% per year6 that is worth north of $500 million from a present value perspective, which positions it for further de-levering. The Company’s remaining spectrum portfolio offers substantial flexibility for future monetization to which we ascribe no value in this analysis. In our view, these dynamics are obscured in the current structure and would be far more visible in a standalone Communications Services business.

    The Time to Act is Now

    With strong commercial momentum across both segments, from NexusWave surpassing 1,000 vessel orders and sustained growth in in-flight connectivity for the Communication Services business, and a proven track record of growth and profitability within DAT, we believe Viasat is at a critical inflection point. In our view, the growth and profitability of DAT is only set to accelerate due to rapidly increasing investment within drone technology, direct-to-device, advanced encryption, Golden Dome, and LEO. Yet we are seeing that public markets continue to discount the stock due to a misplaced narrative. We believe executing a spin-off or IPO of DAT, the Company’s most valuable asset, would not only crystallize value for shareholders, it would empower both businesses to chart focused, capital-efficient growth strategies with improved investor visibility.

    We applaud management exploring various paths to unlock portfolio value, drive returns and shareholder value, but urge them to consider our proposed path forward. We believe a spin-off or IPO of DAT would be met with broad investor support and would position Viasat to emerge as two distinct, category-leading companies: one a premier, high-growth aerospace and defense tech platform; the other a resilient, cash-generating global connectivity business while unlocking tremendous value resulting in ~$50 to $100+ per share.

    About Carronade Capital

    Carronade Capital Management, LP (“Carronade Capital Management”) is a multi-strategy investment firm based in Connecticut with approximately $2.5 billion in assets under management that focuses on process driven investments in catalyst-rich situations. Carronade Capital Management, founded in 2019 by industry veteran Dan Gropper, currently firm employs 14 team members and is based in Darien, Connecticut. Carronade Capital was launched on July 1, 2020. Dan Gropper brings with him nearly three decades of special situations credit experience serving in senior roles at distinguished investment firms, including Aurelius Capital Management, LP, Fortress Investment Group and Elliott Management Corporation.

    Important Disclaimers

    Not an Offer or Solicitation. This press release is for informational purposes only. It does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in any state to any person.

    Not Financial Advice. This press release does not recommend the purchase or sale of a security. There is no assurance or guarantee with respect to the prices at which any securities of Viasat, Inc. (the “Company”) will trade, and such securities may not trade at prices that may be implied herein. In addition, this press release and the discussions and opinions herein are for general information only, and are not intended to provide financial, legal or investment advice. Each shareholder of the Company should conduct their own financial research and analysis and make a decision that aligns with their own financial interests, consulting with their own advisers, as necessary.

    Forward-Looking Statements. This press release contains forward-looking statements. Forward-looking statements are statements that are not historical facts and may include projections and estimates and their underlying assumptions, statements regarding plans, objectives, intentions and expectations with respect to future financial results, events, operations, services, product development and potential, and statements regarding future performance. Forward-looking statements are generally identified by the words “expects”, “anticipates”, “believes”, “intends”, “estimates”, “plans”, “will be” and similar expressions. Although Carronade Capital and its affiliates believe that the expectations reflected in forward-looking statements contained herein are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties—many of which are difficult to predict and are generally beyond the control of Carronade Capital or the Company—that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. In addition, the foregoing considerations and any other publicly stated risks and uncertainties should be read in conjunction with the risks and cautionary statements discussed or identified in the Company’s public filings with the U.S. Securities and Exchange Commission, including those listed under “Risk Factors” in the Company’s annual reports on Form 10-K and quarterly reports on Form 10-Q . The forward-looking statements speak only as of the date hereof and, other than as required by applicable law, Carronade Capital does not undertake any obligation to update or revise any forward-looking information or statements.

    Data and Analysis. Certain information included in this press release is based on data obtained from sources considered to be reliable. Any analysis provided herein is intended to assist the reader in evaluating the matters described herein and maybe based on subjective assessments and assumptions and may use one among alternative methodologies that produce different results. Accordingly, any analysis should not be viewed as factual and should not be relied upon as an accurate prediction of future results. Projected information presented herein is generated using an internal Carronade model and is therefore inherently limited. This information is generated based on certain estimates and assumptions which are subject to change based on prevailing market and economic conditions, as well as Carronade’s ongoing assessment of the Company. All figures are estimates and, unless required by law, are subject to revision without notice.

    Holdings and Trading. Certain of the funds(s) and/or account(s) (“Accounts”) managed by Carronade Capital Management, LP (“Carronade Capital Management”) currently beneficially own shares of the Company. Carronade Capital Management in the business of trading (i.e., buying and selling) securities and intends to continue trading in the securities of the Company. You should assume the Accounts will from time to time sell all or a portion of its holdings of the Company in open market transactions or otherwise, buy additional shares (in open market or privately negotiated transactions or otherwise), or trade in options, puts, calls, swaps or other derivative instruments relating to such shares. Consequently, Carronade Capital Management’s beneficial ownership of shares of, and/or economic interest in, the Company may vary over time depending on various factors, with or without regard to Carronade Capital Management’s views of the Company’s business, prospects, or valuation (including the market price of the Company’s shares), including, without limitation, other investment opportunities available to Carronade Capital Management, concentration of positions in the portfolios managed by Carronade Capital Management, conditions in the securities markets, and general economic and industry conditions. Without limiting the generality of the foregoing, in the event of a change in the Company’s share price on or following the date hereof, Carronade Capital Management may buy additional shares or sell all or a portion of its Account’s holdings of the Company (including, in each case, by trading in options, puts, calls, swaps, or other derivative instruments relating to the Company’s shares). Carronade Capital Management also reserves the right to change the opinions expressed herein and its intentions with respect to its investment in the Company, and to take any actions with respect to its investment in the Company as it may deem appropriate, and disclaims any obligation to notify the market or any other party of any such changes or actions, except as required by law.

    Media Contact:
    Paul Caminiti / Jacqueline Zuhse
    Reevemark
    (212) 433-4600
    Carronade@reevemark.com

    Investor Contacts:
    Andy Taylor / Stas Futoransky
    Carronade Capital Management, LP
    (203) 485-0880
    ir@carronade.com

    1Derived by using a discount to SES SA, Eutelsat Communications, and Iridium Communications as the peer set for Communications Services; for illustrative purposes only.
    2Viasat 2025 Annual Report
    3Viasat July 1, 2025 Press Release
    4Deutsche Bank report “Multiple Paths to Unlocking Value; Upgrade to Buy”
    5Source: Bloomberg
    6Viasat June 13, 2025 Press Release

    Charts accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/1b382282-b275-4da4-a882-c526b3387fc4

    https://www.globenewswire.com/NewsRoom/AttachmentNg/710e4232-9a2e-4280-9767-20bd501b699a

    https://www.globenewswire.com/NewsRoom/AttachmentNg/1786b60d-3b34-4f9e-8100-77a6b4c15b9a

    The MIL Network –

    August 5, 2025
  • MIL-OSI: 2025 FIRST HALF RESULTS : MOBILIZE FINANCIAL SERVICES DELIVERS SOLID GROWTH

    Source: GlobeNewswire (MIL-OSI)

       
    PRESS RELEASE
      
    Paris, 31st July 2025 

      

     

    2025 FIRST HALF RESULTS :
    MOBILIZE FINANCIAL SERVICES DELIVERS SOLID GROWTH

    Mobilize Financial Services records a progression in new financing by 3.8% in the first semester of 2025 compared to the same period in 2024. This performance reflects a rise in the average amount financed and the commercial dynamics of Renault Group’s brands, Nissan and Mitsubishi, supported by a robust growth in registrations.

    With a progression of pre-tax profit by 9.7%, Mobilize Financial Services confirms the relevance of its strategy and its commitment to more sustainable mobility, in line with new uses.

    This performance confirms Mobilize Financial Services’ ability to efficiently support the strategy of its automotive partners, while meeting the expectations of customers in quest of flexible and competitive financing solutions.

    KEY INDICATORS

    Commercial performance1

    • The amount of new financing progresses by 3.8% compared to the first semester of 2024, driven by a sustained commercial dynamic.
    • 632,994 contracts were financed in the first semester of 2025, a slight increase in volume compared to the same period of the previous year (+0.8%).
    • The penetration rate on electric vehicles reached 43.9% at the end of June 2025, a positive difference of 6.5 points compared to other motorization.

    Financial performance

    • The Average Performing Assets (APAs) register a growth of 7.3% compared to the end of June 2024, confirming the robustness of the portfolio.
    • The Net Banking Income progressed by 5.3% over one year, to reach 1,132 million euros in the first semester of 2025.
    • The pre-tax income of the group increased to 607 million euros, increasing by 9.7% compared to the first semester of 2024.

    “In the beginning of the year 2025, we reaffirmed our ambition to support our customers as they transition to more sustainable mobility, by offering products and services in line with new uses. The half-year results support the robustness of our economic model and concretely illustrate our commitment to driving more responsible mobility, fully aligned with the ambitions of Renault Group”, declares Martin Thomas, Chief Executive Officer of Mobilize Financial Services.

    A SUSTAINED COMMERCIAL DYNAMIC, IN A RECOVERING MARKET

    In an automotive market with slight progression by 0.7%, the volumes of Renault Group, Nissan and Mitsubishi reached 1.19 million vehicles, increasing by 2.3% compared to the first semester of 2024. In this context, Mobilize Financial Services records a growth of its new financing by 3.8% (excluding cards and personal loans), for a total of 11.1 billion euros, driven by an increase in registrations and increases of the average financed amount.

    Excluding companies consolidated by equity method, the overall penetration rate stands at 39.6%, slightly down by 0.4 point compared to the same period of last year. The penetration rate on electrified vehicles, as for it, reaches 43.9% at the end of June 2025, +6.5 points compared to other types of motorization.

    In total, 632,994 new contracts were financed in the first semester of 2025, an almost stable volume (+0.8 %) compared to 2024. The financing activity of used vehicles recorded a slight decrease by 0.4% with 153,759 contracts financed.

    Benefitting from a growing operational leasing market, Mobilize Lease&Co financed in the first semester of 2025, 120,039 operational leasing contracts for private and professional customers and reached a fleet under management of 655,000 vehicles, representing a growth by 4% compared to the first semester of 2024.

    The Average Performing Assets (APAs) reached 58.9 billion euros, increasing by 7.3% compared to the first semester of 2024. APAs related to customer activity (private and professional) rose to 47.4 billion euros (+7%), whereas those related to dealership activity progressed by 8.6% to each 11.5 billion euros.

    Finally, 1.8 million insurance and service contracts were sold during the semester, confirming the relevance of the additional offers proposed by Mobilize Financial Services.

    A ROBUST FINANCIAL PERFORMANCE AND A DIVERSIFIED RE-FINANCING STRATEGY

    In the first semester of 2025, the Net Banking Income (NBI) of Mobilize Financial Services amounted to 1,132 million euros, increasing by 5.3 % compared to the end of 2024. This performance is mainly the result of an improvement in the financial margin as well as the growth of outstanding loans.

    The operating costs reached 389 million euros, increasing by 24 million euros compared to last year. This change is explained by the present of non-recurring items having reduced the expenses in the first semester of 2024. Reported to the Average Productive Assets, operating expenses remain stable at 1.33%.

    The pre-tax income stands at 607 million euros, against 553 million, one year earlier, a progression by 9.7 %, driven by the rise of NBI. The share of income from associate companies progressed slightly by +0.9 million euros.

    In a context marked by investor caution in the face of economic and geopolitical uncertainties, the group raised 1.3 billion euros on the bond market in the first semester of 2025. Three public issued were carried out:

    • 2 senior bonds in Euros of 850 million euros (3 years) and 500 million euros (5 years, Green Bond)
    • 1 Tier subordinated debt issue of 500 million euros

    This latest transaction enables expending the maturity profile of the subordinated debt and falls within an active capital management strategy, aiming to maintain a solid financial structure and robust safety margins. Besides, the subsidiaries of the group in Argentina, Brazil, Korea, Morocco and Poland raised a total of 500 million euros on local bond markets.
    In the securitization market, the group placed 624 million euros in automobile loan-backed securities via its German branch. Private securitization transactions in the United States (automobile loans) and in Germany (leasing) saw their revolving period extended by two years.

    Finally, the savings collection activity, launched in 2012 and present in seven European countries (France, Germany, Austria, United Kingdom, Spain, the Netherland and Poland) continues to play a key role in the diversification of financing sources. The deposits collected reached 30.5 billion euros representing 49.1% of net assets at the end of June 2025.

    1 The factoring contracts for short-term rental companies were excluded from 2025 onwards. These contracts represented 32,000 contracts in the first half of 2024, representing a positive impact of 2.8 points on the penetration rate. A hypothetical calculated based on the 2024 figures.

    Press contacts

    William Servigne

    william.servigne@mobilize-fs.com

    Hopscotch PR for Mobilize Financial Services

    +33 (0)1 41 34 23 06

    mobilize@hopscotch.fr

    About Mobilize Financial Services

    Attentive to the needs of all its customers, Mobilize Financial Services, a subsidiary of Renault Group, creates innovative financial services to build sustainable mobility for all. Mobilize Financial Services, which began operations over 100 years ago, is the commercial brand of RCI Banque SA, a French bank specializing in automotive financing and services for customers and networks of Renault Group, and also for the brands Nissan and Mitsubishi in several countries. 

    With operations in 35 countries and over 4,000 employees, Mobilize Financial Services financed more than 1,2 million contracts (new and used vehicles) in 2023 and sold 3,7 million service contracts. 

    At the end of June 2025, average earning assets stood at58.9 billion euros of financing and the pre-tax income at 607 million Euros.

    Since 2012, the group has deployed deposits collecting activity in several countries. At the end of June 2025, the net amount of deposits collected represented 30.5 billion euros, representing 49.1% of the company’s net assets.

    To find out more about Mobilize Financial Services: www.mobilize-fs.com/

    Attachment

    • VDEF UK – CP Résultats du premier semestre 2025 – EN

    The MIL Network –

    August 5, 2025
  • MIL-OSI: Alpine Banks of Colorado announces financial results for second quarter 2025

    Source: GlobeNewswire (MIL-OSI)

    GLENWOOD SPRINGS, Colo., July 31, 2025 (GLOBE NEWSWIRE) — Alpine Banks of Colorado (OTCQX: ALPIB) (“Alpine” or the “Company”), the holding company for Alpine Bank (the “Bank”), today announced results (unaudited) for the second quarter ended June 30, 2025. The Company reported net income of $17.6 million, or $1.10 per basic Class A common share and basic Class B common share, for second quarter 2025.

    Highlights in second quarter 2025 include:

    • Basic earnings per Class A and Class B common shares increased 23.1%, or $0.21, during second quarter 2025.
    • Basic earnings per Class A and Class B common shares increased 44.3%, or $0.61, compared to second quarter 2024.
    • Net interest margin for second quarter 2025 was 3.50%, compared to 3.38% in first quarter 2025, and 2.87% in second quarter 2024.

    “Our second quarter results reflect our continued improvement in both earnings and loan portfolio growth,” said Glen Jammaron, Alpine Banks of Colorado President and Vice Chairman. “Net income through the first six months of 2025 is up 43% over the first six months of 2024. Loan growth through the first half of 2025 is running at a 7.5% annualized pace. We look forward to what is to come in the second half of the year.”

    Net Income
    Net income for second quarter 2025 and first quarter 2025 was $17.6 million and $14.3 million, respectively. Interest income increased $3.0 million in second quarter 2025 compared to first quarter 2025, primarily due to increases in yields on the loan portfolio and due from bank balances along with increased volume in the loan portfolio. These increases were partially offset by decreases in yields and balances in the securities portfolio and decreased volume in due from bank balances. Interest expense increased $0.1 million in second quarter 2025 compared to first quarter 2025, primarily due to decreases in costs on the Company’s trust preferred securities, other borrowings, and cost of deposits. These increases were partially offset by a decrease in volume of deposits. Noninterest income increased $0.7 million in second quarter 2025 compared to first quarter 2025, primarily due to increases in service charges on deposit accounts and increases in other income. Noninterest expense decreased $0.5 million in second quarter 2025 compared to first quarter 2025, due to decreases in salary and employee benefit expenses and occupancy expenses, slightly offset by increases in furniture and fixture expenses and other expenses. A provision for loan losses of $1.6 million was recorded in second quarter 2025 compared to a $1.8 million provision for loan losses recorded in the first quarter 2025. Net income for the six months ended June 30, 2025, and June 30, 2024, was $31.9 million and $22.3 million, respectively. Interest income increased $7.7 million in the first six months of 2025 compared to the first six months of 2024, primarily due to increases in volume in the loan portfolio and balances due from banks, along with increases in yields on the loan portfolio and the securities portfolio. These increases were slightly offset by a decrease in volume in the securities portfolio and a decrease in yield on the balances due from banks. Interest expense decreased $10.5 million in the first six months of 2025 compared to the first six months of 2024, primarily due to decreases in costs on the Company’s trust preferred securities, other borrowings, and cost of deposits. These decreases were partially offset by an increase in the volume of deposit balances. Noninterest income increased $1.8 million in the first six months of 2025 compared to the first six months of 2024, primarily due to increases in earnings on bank‐owned life insurance, service charges on deposit accounts, and other income. Noninterest expense increased $3.8 million in the first six months of 2025 compared to the first six months of 2024, due to increases in other expenses, salary and employee benefit expenses, and occupancy expenses, partially offset a decrease in furniture and fixtures expenses, Provision for loan losses increased $3.9 million in the six months ended June 30, 2025 due to loan portfolio increases and a small volume of loan charge‐offs, compared to the six months ended June 30, 2024.

    Net interest margin increased from 3.38% to 3.50% from first quarter 2025 to second quarter 2025. Net interest margin for the six months ended June 30, 2025, and June 30, 2024, were 3.44% and 2.84%, respectively.

    Assets
    Total assets decreased $57.6 million, or 0.9%, to $6.61 billion as of June 30, 2025, compared to March 31, 2025, primarily due to decreased cash and due from banks and investment securities balances partially offset by increased loans receivable. The Alpine Bank Wealth Management* division had assets under management of $1.36 billion on June 30, 2025, compared to $1.32 billion on March 31, 2025, an increase of 3.0%.

    Loans
    Loans outstanding as of June 30, 2025, totaled $4.2 billion. The loan portfolio increased $87.0 million, or 2.1%, during second quarter 2025 compared to March 31, 2025. This increase was driven by a $81.8 million increase in commercial real estate loans, a $77.0 million increase in residential real estate loans, a $3.0 million increase in consumer loans, and a $1.6 million increase in commercial and industrial loans. This increase was slightly offset by a $76.8 million decrease in real estate construction loans.

    Loans outstanding as of June 30, 2025, reflected an increase of $145.7 million, or 3.6%, compared to loans outstanding of $4.1 billion on June 30, 2024. This growth was driven by a $131.2 million increase in commercial real estate loans, a $70.3 million increase in residential real estate loans, and a $8.8 million increase in consumer loans. This increase was slightly offset by a $56.7 million decrease in real estate construction loans and a $8.2 million decrease in commercial and industrial loans.

    Deposits
    Total deposits decreased $68.4 million, or 1.2%, to $5.9 billion during second quarter 2025 compared to March 31, 2025, primarily due to a $74.2 million decrease in demand deposits, a $7.8 million decrease in certificate of deposit accounts, and a $5.6 million decrease in savings accounts. This decrease was partially offset by a $15.2 million increase in money market accounts and a $2.9 million increase in interest‐bearing checking accounts. Brokered certificates of deposit decreased 13.5% to $160.0 million on June 30, 2025, compared to $185.0 million on March 31, 2025. Noninterest‐bearing demand accounts comprised 29.9% of all deposits on June 30, 2025, compared to 30.8% on March 31, 2025.

    Total deposits of $5.87 billion on June 30, 2025, reflected an increase of $76.6 million, or 1.3%, compared to total deposits of $5.79 billion on June 30, 2024. This increase was due to a $228.2 million increase in money market accounts, a $64.4 million increase in demand deposits and a $18.9 million increase in interest‐bearing checking accounts. This increase was partially offset by a $226.6 million decrease in certificate of deposit accounts and a $8.4 million decrease in savings accounts. Brokered certificates of deposit decreased 59.0% to $160.0 million on June 30, 2025, compared to $390.5 million on June 30, 2024. Noninterest‐bearing demand accounts comprised 29.9% of all deposits on June 30, 2025, compared to 29.2% on June 30, 2024.

    Amended and Restated Articles of Incorporation
    On April 10, 2025, the shareholders of Alpine approved amended and restated articles of incorporation to affect the following actions, among other things:

    • Increase from 15,100,000 to 30,000,000 the total authorized shares of common stock that the Company is authorized to issue;
    • Increase from 100,000 to 15,000,000 the authorized shares of the Class A common stock;
    • Effect a forward stock split of the outstanding shares of the Class A common stock by a ratio of 150‐for‐one;
    • Provide that holders of Class A common stock and Class B common stock shall be entitled to share equally, on a per share basis based upon the number of shares issued and outstanding, in dividends and other distributions;
    • Provide that each one share of Class B common stock shall be entitled to one vote;
    • Provide that each one share of Class A common stock shall be entitled to twenty votes;
    • Provide that unless otherwise required by law the Class A common stock and Class B common stock will vote together as a single class on all matters, including the election of directors;
    • Provide that a majority of the total voting power of the outstanding shares of common stock entitled to vote shall constitute a quorum at any meeting of shareholders; and
    • Provide that the approval of certain corporate actions requires the approval of more than 66 2/3% of the voting power of the outstanding shares of common stock entitled to vote.

    The amended and restated articles of incorporation and related stock split of the Class A common stock became effective on May 1, 2025. All Class A share and per share information for the quarter and six months ended June 30, 2024, set forth herein have been adjusted to reflect the 150‐for‐1 stock split. The stock split has no impact on the Class B share and per share information.

    Capital
    The Bank continues to be designated as a “well capitalized” institution as its capital ratios exceed the minimum requirements for this designation. As of June 30, 2025, the Bank’s Tier 1 Leverage Ratio was 9.90%, Tier 1 Risk‐Based Capital Ratio was 14.08%, and Total Risk‐Based Capital Ratio was 15.21%. On a consolidated basis, the Company’s Tier 1 Leverage Ratio was 9.63%, Tier 1 Risk‐Based Capital Ratio was 13.69%, and Total Risk‐Based Capital Ratio was 15.68% as of June 30, 2025.

    Book value per share on June 30, 2025, was $33.97 per Class A and Class B common shares, an increase of $1.03 per share from March 31, 2025.

    Dividends
    During second quarter 2025, the Company paid cash dividends of $0.21 per Class A and Class B common shares. On July 10, 2025, the Company declared cash dividends of $0.21 per Class A and Class B common shares payable on July 28, 2025, to shareholders of record on July 21, 2025.

    About Alpine Banks of Colorado
    Alpine Banks of Colorado, through its wholly owned subsidiary Alpine Bank, is a $6.6 billion, independent, employee‐owned organization founded in 1973 with headquarters in Glenwood Springs, Colorado. Alpine Bank employs 890 people and serves 170,000 customers with personal, business, wealth management*, mortgage, and electronic banking services across Colorado’s Western Slope, mountains and Front Range. Alpine Bank has a five‐star rating – meaning it has earned a superior performance classification – from BauerFinancial, an independent organization that analyzes and rates the performance of financial institutions in the United States. Shares of the Class B voting common stock of Alpine Banks of Colorado trade under the symbol “ALPIB” on the OTCQX® Best Market. Learn more at www.alpinebank.com.

    *Alpine Bank Wealth Management services are not FDIC insured, may lose value, and are not guaranteed by the Bank.

    Contacts:   Glen Jammaron   Eric A. Gardey
        President and Vice Chairman    Chief Financial Officer
        Alpine Banks of Colorado   Alpine Banks of Colorado
        2200 Grand Avenue   2200 Grand Avenue
        Glenwood Springs, CO 81601   Glenwood Springs, CO 81601
        (970) 384‐3266   (970) 384‐3257
             

    A note about forward‐looking statements
    This press release contains “forward‐looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward‐looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “reflects,” “believes,” “can,” “would,” “should,” “will,” “estimates,” “looks forward to,” “continues,” “expects” and similar references to future periods. Examples of forward‐looking statements include, but are not limited to, statements we make regarding our evaluation of macro‐environment risks, Federal Reserve rate management, and trends reflecting things such as regulatory capital standards and adequacy. Forward‐looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward‐looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward‐looking statements. We caution you therefore against relying on any of these forward‐looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward‐looking statement include, but are not limited to:

    • The ability to attract new deposits and loans;
    • Demand for financial services in our market areas;
    • Competitive market‐pricing factors;
    • Changes in assumptions underlying the establishment of allowances for loan losses and other estimates;
    • Effects of future economic, business and market conditions, including higher inflation;
    • Adverse effects of public health events, such as the COVID‐19 pandemic, including governmental and societal responses;
    • Deterioration in economic conditions that could result in increased loan losses;
    • Actions by competitors and other market participants that could have an adverse impact on expected performance;
    • Risks associated with concentrations in real estate‐related loans;
    • Risks inherent in making loans, such as repayment risks and fluctuating collateral values;
    • Market interest rate volatility, including changes to the federal funds rate;
    • Stability of funding sources and continued availability of borrowings;
    • Geopolitical events, including global tariffs, acts of war, international hostilities and terrorist activities;
    • Assumptions and estimates used in applying critical accounting policies and modeling, including under the CECL model, which may prove unreliable, inaccurate, or not predictive of actual results;
    • Actions of government regulators, including potential future changes in the target range for the federal funds rate by the Board of Governors of the Federal Reserve;
    • Sale of investment securities in a loss position before their value recovers, including as a result of asset liability management strategies or in response to liquidity needs;
    • Any increases in FDIC assessments;
    • Risks associated with potential cybersecurity incidents, data breaches or failures of key information technology systems;
    • The ability to maintain adequate liquidity and regulatory capital, and comply with evolving federal and state banking regulations;
    • Changes in legal or regulatory requirements or the results of regulatory examinations that could restrict growth;
    • The ability to recruit and retain key management and staff;
    • The ability to raise capital or incur debt on reasonable terms; and
    • Effectiveness of legislation and regulatory efforts to help the U.S. and global financial markets.

    There are many factors that could cause actual results to differ materially from those contemplated by forward‐looking statements. Any forward‐looking statement made by us in this press release or in any subsequent written or oral statements attributable to the Company are expressly qualified in their entirety by the cautionary statements above. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to update any forward‐looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

    Key Financial Measures
    The attached tables highlight the Company’s key financial measures for the periods indicated (unaudited).
    https://alpinebank.kcmspreview.com/_/kcms-doc/1507/92807/Alpine-Banks-of-Colorado-Consolidated-Financial-Statements_06.30.25.pdf

    Contact:   Eric A. Gardey, Chief Financial Officer
        Alpine Banks of Colorado
        (970) 384‐3257
        ericgardey@alpinebank.com 

    The MIL Network –

    August 5, 2025
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