NewzIntel.com

Category: Banking

  • MIL-OSI NGOs: Israeli forces are pushing people from north to south Gaza Palestine

    Source: Médecins Sans Frontières –

    • In northern Gaza, Palestine, Israeli evacuation orders and strikes are forcing people to flee south.
    • The bombing and evacuations of neighbourhoods in the north are making the area unliveable, with no supplies entering the area for a week.
    • We call on Israel to stop issuing evacuation orders and immediately allow in humanitarian aid.

    Israeli evacuation orders for parts of northern Gaza, Palestine, issued on 7 October, are pushing tens of thousands of people to immediately flee south as the area is targeted by airstrikes and a ground offensive. In this latest forced mass displacement, residents of Beit Hanoun, Jabalia and Beit Lahia have been urged to move south to the overcrowded, so-called humanitarian zone between Al-Mawasi and Deir Al-Balah, where one million people are already living in inhumane conditions. The zone also remains unsafe for civilians and aid workers, as Israeli forces continue to repeatedly strike the area.

    These forced mass evacuations of homes and bombing of neighbourhoods by the Israeli forces are turning the north of Gaza into an unliveable wasteland, effectively emptying out the whole north of the Strip of Palestinian life. To make matters worse, no humanitarian supplies have been allowed to enter the area since 1 October.

    Médecins Sans Frontières (MSF) calls on the Israeli forces to halt evacuation orders, which are causing the forced displacement of people, and to ensure the protection of civilians. They must also allow desperately needed humanitarian supplies to enter the north as a matter of extreme urgency.

    “All of a sudden, I was told that we had to move from the north,” says Mahmoud, an MSF watchman, who left Jabalia at night to find refuge at the MSF guest house in Gaza City. “We left our home in despair, under bombs, missiles and artillery. It was very, very difficult. I would prefer to die than to be displaced to the south; my home is here, and I do not want to leave.”

    Israeli forces also called for the evacuation of the three main hospitals in northern Gaza, namely Indonesian, Kamal Adwan and Al-Awda hospitals. These are operating at minimal capacity and have a total of 317 patients still hospitalised, with around 80 people in intensive care and unable to move, according to the Ministry of Health. These three medical facilities, as well as those that remain partially functional across the Strip, must be protected at all costs.  

    The MSF clinic in Gaza City received 255 patients on Sunday and Monday alone, as options for people to access medical care shrink by the day. For some people, accessing the few existing health facilities is impossible; our teams have received reports of wounded people who have died as they were unable to seek medical care.

    Among those facing evacuation orders in the north are seven MSF staff who managed to find shelter in Gaza City. Five others remain blocked in Jabalia, where the Israeli forces are on the ground carrying out attacks.

    “The latest move to forcefully and violently push thousands of people from northern Gaza to the south is turning the north into a lifeless desert, while aggravating the situation in the south, where more than one million people have already been squeezed into a small portion of the Gaza Strip and live in deplorable conditions,” says Sarah Vuylsteke, MSF project coordinator in Gaza.

    “Access to water, healthcare, and safety is already almost non-existent, and the thought of more people fitting into this space is impossible to imagine,” says Vuylsteke. “People have been subjected to endless displacement and relentless bombing for the past 12 months. Enough is enough, this must stop now.”

    While the Israeli authorities have recently declared a minimal expansion of the so-called humanitarian zone, the area remains subject to evacuation orders and is unsafe due to regular Israeli bombardment. Many people living in the zone are suffering from skin diseases and respiratory infections because of the dire conditions. The situation is even more worrying with the approach of winter and the cold temperatures that people will be exposed to.

    Israeli forces must urgently halt evacuation orders in the north of Gaza. The relentless killing of people in Gaza must stop now, and an immediate and sustained ceasefire must be implemented.

    MIL OSI NGO –

  • MIL-OSI Banking: Alert 24-8 – Dropped Object – Mud Hose Lifting Collar Insert

    Source: International Association of Drilling Contractors – IADC

    Headline: Alert 24-8 – Dropped Object – Mud Hose Lifting Collar Insert

    A new mud (Kelly, Rotary) hose assembly was installed in the derrick during Special Periodic Survey (SPS). During the yard stay multiple Dropped Object Prevention Scheme (DROPS) inspections were performed in the derrick by rig crew & a 3rd Party rope access team. The rig sailed to location and completed three off 17-1/2” top hole sections. During drilling of the top hole sections, multiple DROPS inspections were performed by the rig crew. On commencement of casing running in the first hole, one half of the hose lifting collar insert (ref Fig 2) detached from the hose assembly end connected to the top drive and fell to drill floor landing within the red zone….

    MIL OSI Global Banks –

  • MIL-OSI Canada: BATVN publishes an overview of the Canadian repo market

    Source: Bank of Canada

    Today, the Bankers’ Acceptance Transition Virtual Network (BATVN), established by the Canadian Fixed-Income Forum (CFIF) to support the transition away from BAs, published an overview of the Canadian repo market. This informational paper provides background information on the Canadian repo market and highlights that repos could be a viable BA replacement for some investors and that the disappearance of BAs could potentially be an important catalyst to help develop a tri-party repo market in Canada.

    This paper does not, and is not intended to, constitute investment or legal advice. It is provided for general information purposes only.

    To further help with this effort and bring more transparency to a core Canadian funding market, the Bank of Canada, in collaboration with the Collateral Infrastructure and Market Practices Advisory Group (CIMPA) published the Canadian Repo Market Fact Sheet. This report provides statistics on trading activity in the Canadian repo market.

    About CFIF

    The Canadian Fixed-Income Forum (Forum) is a senior level industry-wide committee established by the Bank of Canada to discuss developments in fixed-income market structure and functioning, market practices, and related policy issues. The goals of the Forum are to:

    • enhance the efficiency and resilience of the Canadian fixed-income market;
    • improve the quality, clarity and market-wide understanding of Canadian fixed-income trading practices;
    • evaluate and propose changes to market infrastructure;
    • communicate any recommendations and analysis to oversight authorities, regulators, industry groups and other market participants as needed.

    The Forum will not discuss monetary policy or policy issues directly relating to the size and distribution of the federal government’s debt programme which are covered through other fora.

    About the BATVN

    The BA Transition Virtual Network consists of members from close to 30 institutions, primarily representing the major buy-side investors active in BAs. Members include insurance companies, pension funds, money market funds, the major BA issuing banks and their dealers, as well as other relevant stakeholders. Member institutions account for approximately 60% of end-investor BA purchases.

    About CIMPA

    The Collateral Infrastructure and Market Practices Advisory Group (CIMPA) is an industry-wide working group created under CFIF to promote the well-functioning of the Canadian securities and financing markets through improved operational efficiency, reduced market segmentation and industry coordination on related issues and initiatives. The goals of the working group are to:

    • improve interconnectedness, standardization, and automation of securities flows;
    • support market functioning through promotion of best practices for clearing, settlement, margining and risk management;
    • facilitate broad adoption of the recently introduced Canadian Collateral Management Service (CCMS), Canada’s first tri-party service launched by TMX and Clearstream;
    • provide an information hub on Canadian collateral developments;
    • build consensus on relevant issues.

    Market inquiries:

    CFIF Secretariat
    Financial Markets Department
    Bank of Canada
    613‑782‑7913

    Media Relations
    Bank of Canada

    MIL OSI Canada News –

  • MIL-OSI Banking: Alert 24-7 – Lifting Incident on Pipe Deck

    Source: International Association of Drilling Contractors – IADC

    Headline: Alert 24-7 – Lifting Incident on Pipe Deck

    Whilst the deck crew were engaged in heli-deck operations, a 3rd Party Inspector disembarked from the chopper and received an onboarding induction. The 3rd Party Inspector was shown to the pipe deck where completion tools were located awaiting function testing and thread inspection. Several minutes later the deck crew returned to the pipe deck to continue transferring 7” joints of casing from the pipe deck to the catwalk machine using the knuckle boom crane and gripper yoke….

    MIL OSI Global Banks –

  • MIL-OSI Economics: African Development Bank appoints Nnenna Nwabufo as Vice President for Regional Development, Integration and Business Delivery

    Source: African Development Bank Group

    The African Development Bank Group has appointed Nnenna Lily Nwabufo as Vice President for Regional Development, Integration and Business Delivery, effective 04 October.

    Nwabufo, a Nigerian national and seasoned executive, brings over 33 years of expertise in financial management, budget planning, human resource management, corporate services, and regional operations.

    Since joining the Bank in 1991, she has held various managerial roles, including Acting Vice President for Corporate Services in May 2015.  In January 2021, she was appointed Director General for East Africa, where she led the Bank Group’s strategic objective of achieving developmental impact in the region’s 13 countries, ensuring the growth of sovereign and non-sovereign operations.

    Nwabufo holds a Bachelor of Science degree in Economics from the University of Lagos, Nigeria, and an MBA from Henley Management College in the United Kingdom.

    Commenting on her new role, Nwabufo stated, “I look forward to working closely with the president, the Boards of Directors, fellow senior managers, and our talented staff to continue advancing the Bank’s development mission. Together, we will strengthen partnerships, ensure operational efficiency, and drive sustainable, inclusive growth across Africa.”

    The President of the African Development Bank Group, Dr. Akinwumi A. Adesina said: “I am delighted to appoint Mrs. Nnenna Lily Nwabufo as Vice President for the Regional Development, Integration and Business Delivery. Nnenna brings deep knowledge of the Bank, vast senior management experience in different parts of the Bank, from finance to human resources, corporate services, budget management, and operations, which will be highly valuable in her new role in charge of country and regional operations and offices. I am confident that Nnenna’s managerial and leadership skills and deep operational experience will support all the Bank’s sector Vice Presidents to deliver and manage their operations and portfolios more effectively on the ground and deepen policy dialogues across countries and regions.”

    MIL OSI Economics –

  • MIL-OSI Economics: Appointment of Senior Vice President Mrs. Marie-Laure Akin-Olugbade

    Source: African Development Bank Group
    The African Development Bank Group is pleased to announce the appointment of Mrs. Marie-Laure Akin-Olugbade, as Senior Vice President, with effect from 4th October 2024.
    Mrs. Marie-Laure Akin-Olugbade, a Cameroonian national, was serving as Vice President for Regional Development, Integration and Business Delivery at the Bank.

    MIL OSI Economics –

  • MIL-OSI Economics: African Development Bank appoints Mr. Mtchera Johannes CHIRWA Acting Director for the Water and Sanitation Department

    Source: African Development Bank Group
    The African Development Bank has appointed Mtchera Johannes Chirwa Acting Director for the Water and Sanitation Department effective 1 August 2024.
    Chirwa, a Malawian national, is currently Coordinator of the African Water Facility , a Special Fund of the African Development Bank created in 2004 within its Water and Sanitation…

    MIL OSI Economics –

  • MIL-OSI: HBT Financial, Inc. to Announce Third Quarter 2024 Financial Results on October 21, 2024

    Source: GlobeNewswire (MIL-OSI)

    BLOOMINGTON, Ill., Oct. 08, 2024 (GLOBE NEWSWIRE) — HBT Financial, Inc. (NASDAQ: HBT) (the “Company” or “HBT Financial”), the holding company for Heartland Bank and Trust Company, today announced that it will issue its third quarter 2024 financial results before the market opens on Monday, October 21, 2024. A copy of the press release announcing the third quarter 2024 financial results and an investor presentation will be made available on the Company’s investor relations website at https://ir.hbtfinancial.com.

    About HBT Financial, Inc.

    HBT Financial, Inc., headquartered in Bloomington, Illinois, is the holding company for Heartland Bank and Trust Company, and has banking roots that can be traced back to 1920. HBT Financial provides a comprehensive suite of financial products and services to consumers, businesses, and municipal entities throughout Illinois and eastern Iowa through 66 full-service branches. As of June 30, 2024, HBT Financial had total assets of $5.0 billion, total loans of $3.4 billion, and total deposits of $4.3 billion.

    CONTACT:
    Peter Chapman
    HBTIR@hbtbank.com
    (309) 664-4556

    The MIL Network –

  • MIL-OSI: TC Energy announces pricing of cash tender offers

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, Oct. 08, 2024 (GLOBE NEWSWIRE) — News Release – TC Energy Corporation (TSX, NYSE: TRP) (“TC Energy”) today announced that TransCanada PipeLines Limited (the “Company”), a wholly-owned subsidiary of TC Energy, has released the pricing terms of its previously announced separate offers (the “Offers”) to purchase for cash up to US$1,750,000,000 aggregate principal amount of its outstanding notes of the series listed in the table below (collectively, the “Notes”).

    The Offers are made upon the terms and subject to the conditions set forth in the Offer to Purchase dated Oct. 1, 2024 relating to the Notes (the “Offer to Purchase”) and the notice of guaranteed delivery attached as Appendix A thereto (the “Notice of Guaranteed Delivery” and, together with the Offer to Purchase, the “Tender Offer Documents”). Capitalized terms used but not defined in this announcement have the meanings given to them in the Offer to Purchase.

    Set forth in the table below is the applicable Total Consideration for each series of Notes, as calculated as of 2 p.m. (Eastern time) today, Oct. 8, 2024, in accordance with the Offer to Purchase.

    Acceptance
    Priority
    Level(1)    		 Title of Notes(2) Principal
    Amount
    Outstanding (in
    millions)    		 CUSIP / ISIN
    Nos. (2)    		 Reference
    Security(4)    		 Reference Yield Bloomberg
    Reference
    Page(4)    		 Fixed Spread (Basis Points)(4) Total Consideration(3)(4)
    1 2.500% Senior Notes due 2031 US$1,000 89352HBC2 / US89352HBC25 3.875% U.S. Treasury due Aug.15, 2034 4.031% FIT1 +35 $887.76
    2 5.000% Senior Notes due 2043 US$625 89352HAL3 / US89352HAL33 4.125% U.S. Treasury due Aug. 15, 2044 4.387% FIT1 +90 $965.85
    3 4.875% Senior Notes due 2048 US$1,000 89352HAY5 / US89352HAY53 4.625% U.S. Treasury due May 15, 2054 4.316% FIT1 +100 $941.07
    4 5.100% Senior Notes due 2049 US$1,000 89352HAZ2 / US89352HAZ29 4.625% U.S. Treasury due May 15, 2054 4.316% FIT1 +95 $977.29
    5 4.750% Senior Notes due 2038 US$500 89352HAX7 / US89352HAX70 3.875% U.S. Treasury due Aug. 15, 2034 4.031% FIT1 +110 $963.02
    6 4.250% Senior Notes due 2028 US$1,400 89352HAW9 / US89352HAW97 3.50% U.S. Treasury due Sept. 30, 2029 3.857% FIT1 +55 $994.82
    7 4.875% Senior Notes due 2026 US$850 89352HAT6 / US89352HAT68 3.875% U.S. Treasury due Jan. 15, 2026 4.140% FIT4 +45 $1,003.36

    _____________

    (1) Subject to the satisfaction or waiver of the conditions of the Offers described in the Offer to Purchase, if the Maximum Purchase Condition is not satisfied with respect to every series of Notes, the Company will accept Notes for purchase in the order of their respective Acceptance Priority Level specified in the table above (with 1 being the highest Acceptance Priority Level and 7 being the lowest Acceptance Priority Level). It is possible that a series of Notes with a particular Acceptance Priority Level will not be accepted for purchase even if one or more series with a higher or lower Acceptance Priority Level are accepted for purchase.

    (2) No representation is made as to the correctness or accuracy of the CUSIP numbers or ISINs listed in this News Release or printed on the Notes. They are provided solely for convenience.

    (3) For each series of Notes in respect of which a par call date is indicated, the calculation of the applicable Total Consideration (as defined below) has been performed to either the maturity date or such par call date, in accordance with standard market convention.

    (4) The total consideration for each series of Notes (such consideration, the “Total Consideration”) payable per each US$1,000 principal amount of such series of Notes validly tendered for purchase has been based on the applicable Fixed Spread specified in the table above for such series of Notes, plus the applicable yield based on the bid-side price of the applicable U.S. Treasury reference security as specified in the table above, as quoted on the applicable Bloomberg Reference Page as of 2 p.m. (Eastern time) today, Oct. 8, 2024. See “Description of the Offers—Determination of the Total Consideration” in the Offer to Purchase. The Total Consideration does not include the applicable Accrued Coupon Payment (as defined below), which will be payable in cash in addition to the applicable Total Consideration.

    The Offers will expire at 5 p.m. (Eastern time) on Oct. 8, 2024, unless extended or earlier terminated (such date and time with respect to an Offer, as the same may be extended with respect to such Offer, the “Expiration Date”). Notes may be validly withdrawn at any time at or prior to 5 p.m. (Eastern time) on Oct. 8, 2024, unless extended with respect to any Offer.

    For Holders who deliver a Notice of Guaranteed Delivery and all other required documentation at or prior to the Expiration Date, upon the terms and subject to the conditions set forth in the Tender Offer Documents, the deadline to validly tender Notes using the Guaranteed Delivery Procedures (as defined in the Offer to Purchase) will be the second business day after the Expiration Date and is expected to be 5 p.m. (Eastern time) on Oct. 10, 2024, unless extended with respect to any Offer (the “Guaranteed Delivery Date”).

    Settlement for all Notes tendered prior to the Expiration Date or pursuant to a Notice of Guaranteed Delivery will be four business days after the Expiration Date and two business days after the Guaranteed Delivery Date, respectively, which is expected to be Oct. 15, 2024, unless extended with respect to any Offer (collectively, the “Settlement Date”).

    Upon the terms and subject to the conditions set forth in the Offer to Purchase, Holders whose Notes are accepted for purchase in the Offers will receive the applicable Total Consideration for each US$1,000 principal amount of such Notes in cash on the Settlement Date.

    In addition to the applicable Total Consideration, Holders whose Notes are accepted for purchase will receive a cash payment equal to the accrued and unpaid interest on such Notes from and including the immediately preceding interest payment date for such Notes to, but excluding, the Settlement Date (the “Accrued Coupon Payment”). Interest will cease to accrue on the Settlement Date for all Notes accepted in the Offers. Under no circumstances will any interest be payable because of any delay in the transmission of funds to Holders by The Depository Trust Company (“DTC”) or its participants.

    The Offers are subject to the satisfaction of certain conditions as described in the Offer to Purchase. The Company reserves the right, subject to applicable law, to waive any and all conditions to any Offer. If any of the conditions is not satisfied, the Company is not obligated to accept for payment, purchase or pay for, and may delay the acceptance for payment of, any tendered notes, in each event subject to applicable laws, and may terminate or alter any or all of the Offers. The Offers are not conditioned on the tender of any aggregate minimum principal amount of Notes of any series (subject to minimum denomination requirements as set forth in the Offer to Purchase).

    The Company has retained Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, and RBC Capital Markets, LLC to act as the dealer managers (the “Dealer Managers”) for the Offers. Questions regarding the terms and conditions for the Offers should be directed to Deutsche Bank Securities Inc. at (866) 627-0391 (toll-free) or (212) 250-2955 (collect), J.P. Morgan Securities LLC at (866) 834-4666 (toll-free) or (212) 834-4818 (collect), Morgan Stanley & Co. LLC at (800) 624-1808 (toll-free) or (212) 761-1057 (collect), or RBC Capital Markets, LLC at (877) 381-2099 (toll-free) or (212) 618-7843 (collect).

    D.F. King & Co., Inc. will act as the Information and Tender Agent for the Offers. Questions or requests for assistance related to the Offers or for additional copies of the Offer to Purchase may be directed to D.F. King & Co., Inc. in New York by telephone at +1 (212) 269-5550 (for banks and brokers only) or +1 (866) 620-9554 (for all others toll-free), or by email at TCEnergy@dfking.com. You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Offers. The Tender Offer Documents can be accessed at the following link: http://www.dfking.com/transcanada.

    If the Company terminates any Offer with respect to one or more series of Notes, it will give prompt notice to the Information and Tender Agent, and all Notes tendered pursuant to such terminated Offer will be returned promptly to the tendering Holders thereof. With effect from such termination, any Notes blocked in DTC will be released.

    Holders are advised to check with any bank, securities broker or other intermediary through which they hold Notes as to when such intermediary would need to receive instructions from a beneficial owner in order for that Holder to be able to participate in, or withdraw their instruction to participate in the Offers before the deadlines specified herein and in the Offer to Purchase. The deadlines set by any such intermediary and DTC for the submission and withdrawal of tender instructions will also be earlier than the relevant deadlines specified herein and in the Offer to Purchase.

    This announcement is for informational purposes only. This announcement is not an offer to purchase or a solicitation of an offer to sell any Notes or any other securities of TC Energy, the Company, or any of their subsidiaries. The Offers are being made solely pursuant to the Offer to Purchase. The Offers are not being made to Holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, “blue sky” or other laws of such jurisdiction. In any jurisdiction in which the securities laws or “blue sky” laws require the Offers to be made by a licensed broker or dealer, the Offers will be deemed to have been made on behalf of the Company by the Dealer Managers or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.

    No action has been or will be taken in any jurisdiction that would permit the possession, circulation or distribution of either this announcement, the Offer to Purchase or any material relating to us or the Notes in any jurisdiction where action for that purpose is required. Accordingly, neither this announcement, the Offer to Purchase nor any other offering material or advertisements in connection with the Offers may be distributed or published, in or from any such country or jurisdiction, except in compliance with any applicable rules or regulations of any such country or jurisdiction.

    Forward-looking Statements

    This news release contains certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to as “forward-looking statements”). Forward-looking statements include: statements regarding the terms and timing for completion of the Offers, including the acceptance for purchase of any Notes validly tendered and the expected Expiration Date and settlement dates thereof; and the satisfaction or waiver of certain conditions of the Offers.

    Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of TC Energy to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that may cause actual results to vary include, but are not limited to, conditions in financial markets, investor response to the Offers, and other risk factors as detailed from time to time in TC Energy’s reports filed with Canadian securities administrators and the U.S. Securities and Exchange Commission.

    Readers are cautioned against unduly relying on forward-looking statements. Forward-looking statements are made as of the date of the relevant document and, except as required by law, TC Energy undertakes no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information or future events or otherwise.

    About TC Energy

    We’re a team of 7,000+ energy problem solvers working to safely move, generate and store the energy North America relies on. Today, we’re delivering solutions to the world’s toughest energy challenges – from innovating to deliver the natural gas that feeds LNG to global markets, to working to reduce emissions from our assets, to partnering with our neighbours, customers and governments to build the energy system of the future. It’s all part of how we continue to deliver sustainable returns for our investors and create value for communities.

    TC Energy’s common shares trade on the Toronto (TSX) and New York (NYSE) stock exchanges under the symbol TRP. To learn more, visit us at TCEnergy.com.

    -30-

    Media Inquiries:
    Media Relations
    media@tcenergy.com
    403-920-7859 or 800-608-7859

    Investor & Analyst Inquiries:
    Gavin Wylie / Hunter Mau
    investor_relations@tcenergy.com
    403-920-7911 or 800-361-6522

    PDF available: http://ml.globenewswire.com/Resource/Download/382e93bc-3de4-4251-b8e5-d81e89cb81a1

    The MIL Network –

  • MIL-OSI: Hanmi Financial Corporation Announces Third Quarter 2024 Earnings and Conference Call Date

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, Oct. 08, 2024 (GLOBE NEWSWIRE) — Hanmi Financial Corporation (Nasdaq: HAFC) (“Hanmi”), the holding company for Hanmi Bank, today announced that it will report third quarter 2024 financial results after the market close on Tuesday, October 22, 2024. Management will host a conference call that same day, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss the results.

    Investment professionals and all current and prospective shareholders are invited to access the live call on October 22 by dialing 1-877-407-9039 before 2:00 p.m. Pacific Time, using access code “Hanmi Bank”. To listen to the call online visit the investor relations page of Hanmi’s website at http://www.hanmi.com. The webcast will also be available for replay approximately one hour following the call.

    About Hanmi Financial Corporation
    Headquartered in Los Angeles, California, Hanmi Financial Corporation owns Hanmi Bank, which serves multi-ethnic communities through its network of 32 full-service branches and eight loan production offices in California, Texas, Illinois, Virginia, New Jersey, New York, Colorado, Washington and Georgia. Hanmi Bank specializes in real estate, commercial, SBA and trade finance lending to small and middle market businesses. Additional information is available at http://www.hanmi.com.

    Contact
    Romolo (Ron) Santarosa
    Senior Executive Vice President & Chief Financial Officer
    213-427-5636

    Lisa Fortuna
    Investor Relations
    Financial Profiles, Inc.
    310-622-8251

    Source: Hanmi Bank

    The MIL Network –

  • MIL-OSI: HAPO Community Credit Union Expands with Acquisition of Community First Bank

    Source: GlobeNewswire (MIL-OSI)

    RICHLAND, Wash. and KENNEWICK, Wash., Oct. 08, 2024 (GLOBE NEWSWIRE) — HAPO Community Credit Union, a leading credit union, and Community First Bank, a trusted provider of financial services in Tri Cities region, jointly announced today that they have entered into a definitive agreement under which HAPO Community Credit Union will acquire Community First Bank. The transaction is structured as a purchase and assumption agreement for HAPO Community Credit Union to acquire and assume substantially all the assets and liabilities of Community First Bank.

    The acquisition of Community First Bank aligns with HAPO’s vision of delivering a broader range of financial products and personalized services while maintaining its core values of member-centricity and community commitment. The acquisition is a strategic move that combines the strengths of both institutions, allowing HAPO to offer an enriched suite of financial products and services while reinforcing the dedication demonstrated by both companies to the Tri Cities and surrounding areas.

    The transaction has been approved by the boards of directors of both institutions. Following the completion of the transaction, Community First Bank will distribute its remaining assets to its shareholders. When finalized, the combined institution will have approximately $2.9 billion in assets, $2.5 billion in deposits, $2.2 billion in loans, serve more than 220,000 members, and will have 25 branches across Washington and Oregon.

    HFG Trust, a subsidiary of Community First Bank, will be restructured as an independent entity, continuing to engage with clients to deliver holistic financial guidance, ensuring sound advice and meticulous execution of services. Clients can continue to rely on the steadfast leadership and experienced team at HFG Trust as the current management and staffing will remain in place dedicated to being their client’s Financial Partner for Life. In addition, HAPO Community Credit Union will enter a strategic partnership with HFG Trust to give its members an option to utilize HFG Trust’s wealth management and trust services.

    HAPO’s President and CEO, Scott Mitchell, expressed enthusiasm about the acquisition: “We are excited to unite with Community First Bank in this strategic acquisition. Both HAPO and Community First Bank have long been committed to serving the Tri Cities and surrounding communities. This acquisition will enhance HAPO’s capacity to support local economic growth and address the financial needs of residents and businesses more effectively. We are thrilled to welcome the talented team at Community First Bank and look forward to providing more services and solutions to our members.”

    Community First Bank’s CEO, Eric Pearson, also shared their excitement: “Joining forces with HAPO Community Credit Union represents an exciting and transformative milestone for both our clients and our dedicated team. At Community First Bank, we’ve always placed the highest value on our relationships with our clients and commitment to our loyal team as well as our role in the community. This partnership allows us to elevate the services we provide while staying true to our core values of transparency, trust, and a client-first approach. Together, we are creating a stronger future, delivering unmatched financial solutions, more opportunities for our employees, and deepening our commitment to the communities we serve.”

    Community First Bank clients and HAPO Community Credit Union members should continue to conduct their business as usual. The transaction is expected to be completed in the mid third quarter of 2025, subject to receiving all regulatory approvals, Community First Bank shareholder approval, and other customary closing conditions. As this transition unfolds, HAPO and Community First Bank’s foremost priority is to ensure that members/clients experience uninterrupted service and are kept well-informed every step of the way. Upon approval, all branches of Community First Bank will be integrated into HAPO’s extensive network, reinforcing the combined organizations commitment to maintaining strong relationships with the people that choose to bank at HAPO.

    HAPO Community Credit Union was advised in this transaction by ALM First Analytics, LLC, as exclusive financial advisor, and Honigman, LLP, as legal counsel.

    About HAPO Community Credit Union

    HAPO Community Credit Union, headquartered in Richland, Washington, is a member-focused financial cooperative dedicated to providing high-quality financial services and products. With a commitment to community involvement and personalized service, HAPO strives to help its members achieve their financial goals and secure their financial future. For more information, please visit http://www.hapo.org.

    About Community First Bank

    Community First Bank, headquartered in Kennewick, Washington, is a well-respected local bank known for its commitment to providing personalized banking solutions and supporting community growth. With a strong presence in the Tri Cities area, Community First Bank has been a trusted partner for individuals and businesses seeking tailored financial services. For more information, please visit http://www.cfbhfg.com.

    About HFG Trust

    HFG Trust is headquartered in Kennewick, Washington, where the wealth management firm first opened its offices in 1983. Since then, they have grown the team and services to offer concierge financial services to both individuals and enterprises alike.

    The MIL Network –

  • MIL-OSI USA: GUBERNATORIAL PROCLAMATION: Litter-Free Rhode Island’s Take the Pledge Week

    Source: US State of Rhode Island

    Published on Tuesday, October 08, 2024

    WHEREAS, Rhode Island is known for its natural beauty, which extends across its pristine beaches, green parks, rich forests, vibrant cities, and rural towns, all offering unique contributions to the state’s diverse landscape; and 

    WHEREAS, to protect that beauty, the Governor and First Lady launched the Litter-Free Rhode Island program in 2022 and have since made it a top priority year after year to support cleaner cities and towns and to help beautify Rhode Island so that residents and visitors take pride in their surroundings; and 

    WHEREAS, the Litter-Free Rhode Island program has committed tens of thousands of dollars in microgrant opportunities for environmental projects, clean-ups, and educational materials so that Rhode Islanders and students understand the importance of responsible trash disposal and its connection to improving our state’s overall health; and 

    WHEREAS, the Litter-Free Rhode Island program has worked closely with the state’s Department of Environmental Management (DEM), the Department of Transportation (DOT), the Division of Motor Vehicles (DMV), Enterprise Technology Strategy and Services (ETSS), and the Rhode Island Infrastructure Bank (RIIB) to advance these goals; and 

    WHEREAS, the DOT has hired additional highway crews to address litter build-up on state roads and highways and has collected more than 800,000 gallons of trash and more than 460 tons of large debris to support a better-looking and healthier community; and  

    WHEREAS, the DMV has purchased bags to give to drivers to have in their cars so that they can dispose of litter and displays videos at different DMV locations about the Litter-Free Rhode Island program; and 

    WHEREAS, in partnership with the DOT, Litter-Free Rhode Island has created a “Trashboard” to monitor those clean-ups by DOT highway crews, groundskeepers, microgrant recipients, and volunteers; and  

    WHEREAS, ETSS designed and developed the Litter-Free Rhode Island website, https://litterfree.ri.gov, leveraging the award-winning State of Rhode Island Enterprise Content Management System (eCMS); and 

    WHEREAS, DEM and RIIB have partnered together to administer a microgrant program to help fund clean-ups and clean-up supplies for nearly 100 non-profits, schools, environmental organizations, and community groups so those parties can enhance the quality of life for residents and local ecosystems; and 

    WHEREAS, empowering more Rhode Islanders to get involved and to take pride in their state starts by encouraging good habits that promote cleaner and greener Ocean State communities; and 

    WHEREAS, taking the Litter-Free Rhode Island pledge is a simple, easy way to engage and educate residents so they are actively involved in ways bettering their local parks, playgrounds, beaches, rivers, sidewalks, roads, and more. 

    NOW, THEREFORE, I, Daniel J. McKee, Governor of the State of Rhode Island, do hereby proclaim the week of October 7-11, 2024, as Litter-Free Rhode Island’s Take the Pledge Week and encourage all residents, businesses, schools, organizations, agencies, and families to take the pledge to end litter in our state and leave it better for the next generation of Rhode Islanders. 

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: National Meet on World Cerebral Palsy Day organized on 6th October 2024

    Source: Government of India

    Posted On: 08 OCT 2024 5:30PM by PIB Delhi

    The National Trust for the Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation (Intellectual Disability) and Multiple Disability organized a National Meet on World Cerebral Palsy Day on 6thOctober 2024. The trust is a statutory body of the Ministry of Social Justice and Empowerment, Government of India.

    Eminent experts and Professionals in the field of Cerebral Palsy participated in the National Meet as resource persons. Shri K.R Vaidheeswaran, Joint Secretary and Chief Executive Officer, National Trust delivered the inaugural address, mentioning the need for innovation in the field of Cerebral Palsy to enable persons with cerebral palsy to join mainstream.

    Dr. Neelam Sodhi, MD in Obstetrics and Gynaecology and founder of North India Cerebral Palsy Association shared her experience on bringing up her son who is a person with Cerebral Palsy and a software expert leading an independent life in Bangalore.

    Dr. Jitendra Kumar Jain, Paediatric Orthopaedic Surgeon and Chairman, Trishla Foundation, Prayagraj informed important facts and current updates in management of children with Cerebral Palsy. Persons with Cerebral Palsy namely – Mr. Siddharth GJ, Bangalore, a Bank Manager and a Motivational Speaker; Mr. Deepak Parthaasarthy, Chennai, Sports Journalist; and Dr. Ritesh Sinha, Karnal, a Beacon of Resilience and Innovation shared their life journey during the meet.

    Dr. Neeraj Mishra, Occupational Therapist, Dept. of Neurology, G.B Pant Hospital, Delhi addressed the occasion on Handling Children with Cerebral Palsy. There was a panel discussion on ‘The Way Forward Towards Inclusion’ by Mrs. Meenu Arora Mani, Mr. Sawai Singh and Ms. Vinayana Khuranna, all Persons with Cerebral Palsy. The moderator of the panel discussion was Ms. Anuradha from Ability Inclusion and Development (AADI), Delhi.

    The concluding remarks were given by Mr. Avelino Nicolau de Sa, a Person with Cerebral Palsy and a Board Member of the National Trust. The virtual meet was attended by more than 130 participants which includes Board Members of the National Trust, Govt. Officials, Organizations and Professionals working for Persons with Cerebral Palsy etc.

    *****

    VM

    (Release ID: 2063222) Visitor Counter : 43

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Gross enrolments under Atal Pension Yojana (APY) cross 7 crore mark, with over with over 56 lakh enrolments in current Financial Year 2024-25

    Source: Government of India (2)

    Posted On: 08 OCT 2024 9:01PM by PIB Delhi

    The total gross enrolments under the Atal Pension Yojana (APY) have crossed 7 crore, with an enrolment of over 56 lakh in the current Financial Year 2024-25. The scheme is in its 10th year of rollout, and has achieved a big milestone by bringing in the most vulnerable sections of society under the coverage of pension has been made possible with the untiring efforts of all the Banks and SLBCs/UTLBCs.

    The Pension Fund and Regulatory Development Authority (PFRDA), in the recent past, has taken several initiatives for awareness creation of the scheme i.e., conducting APY Outreach Programmes at State and District levels, organising awareness and training programmes, publicity through various media channels, releasing a one-pager simple APY flyer/handout

    MIL OSI Asia Pacific News –

  • MIL-OSI Europe: Written question – Dangerous escalation in the Middle East – P-001945/2024

    Source: European Parliament

    Priority question for written answer  P-001945/2024
    to the Vice-President of the Commission / High Representative of the Union for Foreign Affairs and Security Policy
    Rule 144
    Kostas Papadakis (NI), Lefteris Nikolaou-Alavanos (NI)

    Iran’s missile attack on Tel Aviv was an expected retaliatory move in response to Israeli brutality and marks an escalation in the military showdown between the two countries.

    Backed by the US, NATO and the EU, Israel is continuing its genocide against Palestinians, has occupied further territory in Gaza and the West Bank, has invaded the independent state of Lebanon and is continuing its killing spree against political leaders.

    The EU has organised ‘Aspides’, a dangerous military operation in the Red Sea, which the Greek Government is taking part in by sending a warship and hosting the operation headquarters in Larissa.

    How does the EU High Representative/Vice-President view:

    • 1.The fact that the EU military operation ‘Aspides’ provides a justification for the escalation of Israel’s savage project, contributes to the escalation of armed conflict in the wider Middle Eastern region and turns people in the region and Europeans into retaliation targets, with unpredictable consequences?
    • 2.The call for all support to Israel to be withdrawn, for the EU’s ‘Aspides’ operation to be terminated, for the Greek frigate and the other ships that joined the mission to be withdrawn and for a pull-out from the war in the Middle East?
    • 3.The fact that the EU continues to support Israel, citing its commitment to the latter’s security for the sake of stability in the Middle East, when this very same region is in severe turmoil precisely because of Israel’s aggression and the policy pursued by its Government, whose plans are supported by the EU?

    Submitted: 3.10.2024

    Last updated: 8 October 2024

    MIL OSI Europe News –

  • MIL-OSI: Old National Bancorp Announces Schedule for Third-Quarter 2024 Earnings Release and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    EVANSVILLE, Ind., Oct. 08, 2024 (GLOBE NEWSWIRE) — (NASDAQ: ONB) – Old National Bancorp (“Old National”), the holding company of Old National Bank, today announced the following schedule for its third-quarter 2024 earnings release and conference call:

    Earnings Release: Tuesday, October 22, 2024, at approximately 8:00 A.M. ET
    Conference Call: Tuesday, October 22, 2024, at 10:00 A.M. ET
    Dial-in Numbers: U.S. (800) 715-9871; International: (646) 307-1963; Access code 1586600
    Webcast: Via Old National’s Investor Relations website at oldnational.com
    Webcast Replay: Available approximately one hour after completion of the call, until midnight ET on October 22, 2025, via Old National’s Investor Relations website at oldnational.com
    Telephone Replay: U.S. (800) 770-2030; International: (647) 362-9199; Access code 1586600. The replay will be available approximately one hour after completion of the call until midnight ET on November 5, 2024
       

    ABOUT OLD NATIONAL
    Old National Bancorp is the holding company of Old National Bank. As the sixth largest commercial bank headquartered in the Midwest, Old National proudly serves clients primarily in the Midwest and Southeast. With approximately $53 billion of assets and $30 billion of assets under management, Old National ranks among the top 30 banking companies headquartered in the United States. Tracing our roots to 1834, Old National focuses on building long-term, highly valued partnerships with clients while also strengthening and supporting the communities we serve. In addition to providing extensive services in consumer and commercial banking, Old National offers comprehensive wealth management and capital markets services. For more information and financial data, please visit Investor Relations at oldnational.com. In 2024, Points of Light named Old National one of “The Civic 50” – an honor reserved for the 50 most community-minded companies in the United States.

    Investor Relations:
    Lynell Durchholz
    (812) 464-1366
    lynell.durchholz@oldnational.com

    Media Relations:
    Rick Vach
    (904) 535-9489
    rick.vach@oldnational.com

    The MIL Network –

  • MIL-OSI USA: Jayapal Statement on Lack of Accountability for Killing of Aysenur Ezgi Eygi

    Source: United States House of Representatives – Congresswoman Pramila Jayapal (7th District of Washington)

    SEATTLE, WA — U.S. Representative Pramila Jayapal (WA-07) released the following statement more than a month after the killing of U.S. citizen Aysenur Ezgi Eygi in the West Bank:

    “It has been 32 days since Aysenur Ezgi Eygi was killed in the West Bank, and we have seen no movement toward an independent investigation by the U.S. government and no additional information on changes in the practices of the Israel Defense Forces (IDF) units that are using live ammunition on those who are peacefully protesting.

    “I have had numerous briefings with State Department officials, and I have been in close touch with Eygi’s family, as her father is my constituent. I am frankly appalled with the lack of movement on this case. I have received no information that gives me any assurance that the killing of a U.S. citizen by the IDF is being treated with the urgency it deserves. Secretary Blinken called the killing of Eygi ‘unprovoked and unjustified’, and the Israeli government has acknowledged that it is ‘highly likely’ that Eygi was killed by the IDF. The Washington Post conducted its own investigation into Eygi’s killing, based on eyewitness accounts. That report directly challenged the Israeli government’s account of what happened.

    “As Senator Murray and I detailed in our letter, this is not the first time Israeli forces have killed U.S. citizens. We are seeing history repeat itself in a dangerous and unacceptable way. In 2003, Rachel Corrie, a U.S. citizen from Washington State was killed in the West Bank, and despite more than 70 Members of Congress calling for an independent investigation, no such action was taken. Just this year, three U.S. citizens have been killed in the West Bank. U.S. citizens must be safe abroad and if they are killed, our government must act. It is that simple.

    “The U.S. is the largest backer of military assistance to Israel. If the Israeli government is unwilling or unable to follow our own domestic laws as well as international humanitarian laws, we must demand accountability by stopping certain offensive U.S. military assistance. In this situation, to ensure the trust of our own U.S. citizens, we must initiate our own investigation into Eygi’s killing, use our leverage to demand changes to the IDF’s rules of engagement, and apply our domestic laws to this situation for full accountability. 

    “Recently, 102 members of Congress wrote a letter calling for an independent investigation into Eygi’s killing. My colleagues and I will not rest until we have answers.”

    Issues: Foreign Affairs & National Security

    MIL OSI USA News –

  • MIL-OSI USA: NEWS: Congressman Greg Casar’s Statement on Oct. 7

    Source: United States House of Representatives – Congressman Greg Casar (D-Texas)

    WASHINGTON – Today, Congressman Greg Casar (D-Texas) released the following statement:

    “October 7th is a dark and horrific day for Israelis and Jewish people across the world. More Jewish people were killed at once than any day since the Holocaust, and Hamas still holds Americans and scores of Israelis hostage. In the days after October 7th, tens of thousands of innocent Palestinians have been killed by the Israeli government’s bombardment of Gaza and operations in the West Bank. Over two thousand Lebanese people have been killed, and more than a million have been displaced. The region is on the brink of what could be an even more massive war. Hardly a soul is safer or more free.

    “We must change course toward peace. We must stop this cycle of violence by all parties before it consumes even more innocent families across the region and across the world. Israel should stop its bombing, Iran and Hezbollah should stop their bombing, Hamas should return the hostages, and the United States should be brokering peace, rather than further contributing to the devastation by shipping weapons. Let us honor the dead by protecting the living.”

    ###

    Congressman Greg Casar represents Texas’s 35th Congressional District in the U.S. House of Representatives, which runs down I-35 from East Austin to Hays County to the West Side of San Antonio.  A labor organizer and son of Mexican immigrants, Casar serves as the Whip of the Congressional Progressive Caucus for the 118th Congress. He also serves on the Committee on Oversight and Accountability and the Committee on Agriculture.

    MIL OSI USA News –

  • MIL-OSI USA: Tuberville Honors John Vick of Andalusia as October “Veteran of the Month”

    US Senate News:

    Source: United States Senator for Alabama Tommy Tuberville
    WASHINGTON – U.S. Senator Tommy Tuberville (R-AL) released a video honoring U.S. Navy Lieutenant John Vick of Andalusia as the October “Veteran of the Month.” John is the founder of the Covington Veterans Foundation, which pays tribute to veterans in Covington County.
    Excerpts from Senator Tuberville’s remarks can be found below, and his complete remarks can be found here.

    “When you ask John Vick of Andalusia where his desire to serve in the military began, he traces it back to when he was just seven years old. Growing up near a depot in the small town of Red Level, John recalls watching the train bring in flag-draped caskets of American soldiers killed in war. He was touched by the patriotism of his local community to honor each of these soldiers who’d made the ultimate sacrifice. This experience not only created a desire to serve in the military, but to ensure that the sacrifices of America’s heroes are never forgotten.”
    “After graduating from Andalusia High School, John received a full Navy ROTC scholarship, which he used to attend Auburn University. There, he earned a degree in mechanical engineering in 1962, and was commissioned into the Navy that same year. John rose through the ranks to become a Navy Lieutenant before returning home to Covington County in 1966.”
    “In 2019, John founded the Covington Veterans Foundation where he continues this spirit of patriotism that was instilled in him as a child. Thanks to John’s efforts, CVF has been able to display more than 600 veteran banners throughout the City of Andalusia. He has also served for a number of years as chairman of the board of Southern National Corporation and has served on the board of CCB Community Bank for more than 45 years. Additionally, John is an active member of the Andalusia Lions Club and First Methodist Church of Andalusia. He represents the ideals of service and patriotism that Alabamians hold so dear.”
    Senator Tuberville recognizes a different Alabama veteran each month for their service and contribution to their community. Constituents can nominate an Alabama veteran and submit their information to Senator Tuberville’s office for consideration by emailing press_office@tuberville.senate.gov. 
    Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, and HELP Committees.

    MIL OSI USA News –

  • MIL-OSI Banking: Verizon is ready, offers tips as Hurricane Milton approaches Florida

    Source: Verizon

    Headline: Verizon is ready, offers tips as Hurricane Milton approaches Florida

    ALPHARETTA, GA – As Hurricane Milton approaches the Florida coast, Verizon remains committed to keeping communities and first responders connected. In addition to a hardened network designed to withstand the most extreme conditions, Verizon’s engineers undertook steadfast preparation measures to ensure resources are in place for rapid response.

    “At Verizon, our top priority is supporting the communities we serve. Our responsiveness and partnership at times of crises truly matters” said Atlantic South Market President, Leigh Anne Lanier. “From families, to businesses, to first responders, we are here to provide the reliable service they can count on. Our team is working tirelessly to keep our customers connected now and in the days ahead.”

    In the aftermath of Hurricane Helene, satellite communications have proven to be an important communication tool when terrestrial services have been impacted. Make sure your phone is ready in advance. Customers with an iPhone 14 or newer should upgrade to iOS 18 to ensure they can send text messages or connect with emergency services via satellite. And for those with Google Pixel 9 devices, emergency messaging is also available via satellite. Both operating systems have demos available allowing customers practice in messaging via satellite in advance. Learn more, here.

    Verizon’s networks are primed

    Verizon’s networks are primed to maintain connectivity even in the face of extreme weather conditions. With redundancy built into critical paths and components, Verizon’s network is engineered with the goal of withstanding severe weather. Verizon engineers have prepared by conducting thorough checks, as well as ensuring backup systems, like batteries and generators, are operational and refueled. Verizon has also installed liaisons at area Emergency Operations Centers to allow seamless partnership with local, state, and government agencies to ensure a rapid restoration.

    In preparation for potential network recovery operations, Verizon has staged in close proximity a fleet of portable network solutions, including satellite-based portable network assets, providing crucial connectivity in scenarios where fiber connections are compromised, as well as mobile generators to assist communities in the result of commercial power loss.

    Verizon Frontline stands at the ready, prepared to assist first responders in any capacity needed

    The Verizon Frontline Crisis Response Team stands ready to help ensure that public safety agencies on the front line of any potential disaster have the mission-critical communications capabilities needed to achieve their missions. This team, composed primarily of former first responders and military personnel, is solely dedicated to supporting public safety customers during emergencies at no cost to the supported agencies.

    In the first nine months of 2024, the Verizon Frontline Crisis Response Team has responded to more than 1,000 requests for mission-critical communications support from more than 500 different agencies in 46 states.

    Being prepared is essential to support local businesses and communities

    Recognizing the critical role of connectivity in business continuity, Verizon Business provides a suite of solutions tailored for seamless operations during emergencies. Businesses and government organizations need the right game plan. Suggested actions include:

    • Mitigate customer disruption: Think about what you need to ensure continuous service to your customers, and what software and equipment your business needs to continue operations. Make a detailed list, including service contracts and warranty information, and all pertinent phone numbers for local authorities, utility companies, suppliers, and vendors.
    • The right tech makes an impact: Ensure you have the right technology to support your business connectivity needs assuming you might need to move away from your primary location.
    • Contacts and documents are key: Make sure you have contact information updated and readily available for all employees, including at-home information for remote workers and branch information for satellite offices.
    • Test, test, and test again: Stress-test primary and backup networks and shore up any weak areas.
    • Keep track of equipment: Ensure employees working from home have documented all corporate equipment being used to work from home in case of damage or loss.
    • Have a backup plan: Ensure backup plans are in place to shift work in case work-from-home employees in a storm-impacted area have to evacuate their homes or their home loses commercial power.

    Are you hurricane ready?

    Verizon’s team works year-round to ensure customers remain connected to their loved ones and the activities that provide comfort during a disaster. As residents prepare to stay connected and entertained, consider these tips:

    • Stock Up on power supplies like batteries for flashlights and radios or device chargers. Take it a step further by charging your devices that can act as chargers for other devices like laptops and power stations. Don’t forget to ensure you have the cables!
    • Download movies, books, apps and games in case of a power outage. Or gather board games, card games, and puzzles to go device-free.
    • Locate important documents that you may need later as well as sentimental photos and items.
    • Plan non-perishable meals. Keep a few non-perishable ingredients, like a manual can opener and other kitchen tools on hand.
    • Grab some candles, blankets, pillows, or anything that makes your hurricane safe space comfortable.
    • Read up on the American Red Cross’ hurricane preparedness tips.
    • Bookmark our Check Network Status page or go to My Verizon app and click Support Topics to notify us if you experience any network issues or to check to see if there are any known issues in your area. Enter your location, select the type of service issue, and we will provide a real time status update.

    More information

    Visit Verizon’s Online Emergency Resource Center, verizon.com/about/news/emergency-resource-center, for further details on Verizon’s emergency response capabilities.

    MIL OSI Global Banks –

  • MIL-OSI New Zealand: Reserve Bank – RBNZ releases Annual Report 2024

    Source: Reserve Bank of New Zealand

    8 October 2024 – The Reserve Bank of New Zealand – Te Pūtea Matua has today published its Annual Report covering the year from 1 July 2023 to 30 June 2024.

    Board Chair Professor Neil Quigley says the past year’s achievements have laid the foundations to enable significant, multi-year programmes of work.

    “The Board’s major focus this year has been to evolve our strategy and performance framework. In June, we published our refreshed Statement of Intent for 2024-2028, which, alongside our Performance Expectations, outlines our accountability for delivering on our mandate,” Professor Quigley says.  

    Over the next few years, as we continue to develop as an organisation, we will also evolve how we assess and report on our achievement against our strategic themes, outcomes and key activities.

    Highlights this year include the implementation of one of the largest programmes of work, the Deposit Takers Act; commencing the implementation of the Foreign Reserves Management and Coordination Framework; delivering our Outsourcing Policy (BS11); and the new payments messaging format (ISO 20022). All of which have helped to ensure New Zealanders can have confidence in our financial system.

    Governor Adrian Orr acknowledges we continue to operate in a challenging external environment. Global economic growth remains below trend. However, our monetary policy actions have reduced capacity pressures in the New Zealand economy and lowered consumer price inflation to 3.3 percent in June 2024, down from 6 percent in June 2023.

    “I am proud of the gains we have made as we continue to progress our vision of a trusted, inclusive, resilient, and competitive financial system,” Mr Orr says.

    “We are also exploring the future of money and role of digital currencies; we have published our Approach to Financial Inclusion; updated our Te Ao Māori strategy – Te Waka Hourua; and we will release our first climate-related financial disclosure later in October. Each initiative is moving us closer towards our vision.”

    In line with our dividend principles, the RBNZ is required to recommend to the Minister the amount of dividend to be paid to the Crown at the end of each financial year. The Minister of Finance has agreed that the RBNZ will pay a dividend of $597 million in 2023/24.
     

    More information

    Annual Report 2024 – Reserve Bank of New Zealand – Te Pūtea Matua (rbnz.govt.nz) https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=038b58eb69&e=f3c68946f8

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: ASB delivering Kiwis the best in digital banking

    Source: CanStar

    October 8, 2024: Congratulations to ASB, the winner of Canstar’s Award for Bank of the Year | Digital Banking, for the third consecutive year.

    According to Canstar’s latest research, 96% of bank customers use digital banking, and 94% do all their banking online. However, digital banking habits are still evolving.

    Smartphones have transformed the way we manage our day-to-day finances: four years ago, half of Kiwis (49%) used mobile banking apps, while 42% accessed accounts through bank websites. Those figures now stand at: 70% mobile apps and 23% bank websites.

    And leading the field in transforming the way we access online banking is ASB.

    In awarding ASB Canstar’s Bank of the Year | Digital Banking title for the third year in a row, our research team noted that ASB had maintained its market-leading position across several key digital banking categories, via the ASB Mobile Banking app and its online banking portal.

    Tom Slee, Canstar Group Manager – Wealth, Health & New Zealand says, “Most of us rely on our phones to conduct all our everyday banking, and ASB’s customers truly have the power to control their finances at their fingertips.

    “ASB’s Mobile Banking app not only makes everyday banking easy, it empowers ASB customers to set savings goals and stick to them, thanks to innovated features such as Goal Planner, Spend Tracker and the Save the Change tool. Congratulations to ASB for achieving a hat-trick of Digital Banking Awards – it’s a well-deserved accomplishment.”

    ASB’s Executive General Manager Technology and Transformation, David Bullock says, “Financial wellbeing is at the heart of everything we do, and one of the many ways we are championing this is through tools such as Spend Tracker, Support Finder, Save the Change and Card Tracker. In the past financial year, more than half a million of our customers used at least one of our digital financial wellbeing tools to help get ahead and achieve their goals.

    “We’ve also continued to develop our communication channels for customers, with improvements to our chatbot, Josie, as well as introducing the ability for customers to message us directly through the ASB mobile banking app. We’re incredibly proud of the work we’re doing in this space and it’s great to have this recognised by Canstar.”

    Canstar Bank of the Year | Digital Banking Award

    Canstar’s expert research team assessed the winner of its 2024 rating methodology and feedback from 3851 bank customers. The offers customers the strongest combination of products, features and tools across offerings.

    The award is designed to help consumers make more informed financial choices and sits alongside Canstar’s other awards, covering banking, insurance and KiwiSaver products.

    Click here for more information on ASB’s win: https://www.canstar.co.nz/digital-banking/best-digital-banking/

    MIL OSI New Zealand News –

  • MIL-OSI Australia: Allens advises CBA on divestment from VIB

    Source: Allens Insights

    Allens has advised the Commonwealth Bank of Australia (CBA) on its sale of approximately 5% stake in Vietnam International Commercial Joint Stock Bank (VIB), a leading Vietnamese commercial bank listed on the Ho Chi Minh Stock Exchange.

    With total gross proceeds of approximately $160 million, the sale forms part of CBA’s strategy to focus on its banking businesses in Australia and New Zealand.

    Allens advised on all aspects of the transaction, drawing on its extensive experience in Vietnam to advise not only on legal issues but also on strategic matters in the rapidly evolving Vietnamese market.

    ‘We are pleased to have worked with CBA to navigate the Vietnamese market throughout the lifecycle of this investment, with the firm also having advised on CBA’s original foreign strategic interest in 2010,’ said lead partner Linh Bui.

    ‘CBA is an important client of Allens in Australia and we are pleased to extend our support to CBA on this strategic investment in Vietnam.’

    Allens legal team

    Linh Bui (lead Partner), Ngoc Anh Tran (Partner), Ha Nguyen (Senior Associate), Kiet Do (Associate), Tien Tran (Associate)

    MIL OSI News –

  • MIL-OSI Economics: A Review of Digital Creative Industries in Asia: Opportunities and Policies to Foster Growth and Create High-Quality Jobs

    Source: Asia Development Bank

    A collaboration between ADB and Netflix, it focuses on movies, music, and gaming in India, Indonesia, Thailand, and Viet Nam. Assessing the potential of artificial intelligence, the private sector, and investment challenges, the report looks at ways countries can use incentives, supportive regulation, and better funding options to foster their creative industries and become attractive offshoring destinations.

    MIL OSI Economics –

  • MIL-OSI United Nations: Statement by UNFPA Executive Director, Dr. Natalia Kanem on the suffering of women and girls in the Middle East

    Source: United Nations Population Fund

    Today marks one year since the horrific 7 October terror attacks by Hamas and other armed groups on Israel in which more than 1,250 people were killed, hundreds taken hostage and acts of egregious sexual violence reported. This has been followed by Israel’s deadly military campaign in Gaza, where months of relentless bombardment and ground operations have killed more than 41,000 people – most of them women and children – and caused untold pain and destruction. 
     

    More than 2 million people in Gaza lack the basic necessities to survive – sanitation, health care, shelter, electricity and protection. Families have been forcibly displaced multiple times, moving from one unsafe place to another, with no escape and no home to which to return. Two million people have lost everything, their neighborhoods reduced to rubble. Around 96 per cent of the population faces crisis levels of hunger or worse. At the same time, the situation in the occupied West Bank, including East Jerusalem, continues to deteriorate. Life for millions in Palestine, Israel, and now across the region has changed forever. The rights and dignity of women and girls have been severely compromised. 
     

    The 155,000 pregnant women and new mothers in Gaza struggle every day to keep themselves and their babies alive, with the healthcare system in ruins and facilities deprived of the supplies they need to operate. Women’s chances of miscarriage or dying in childbirth have trebled. New mothers have spoken to us of giving birth alone in their tents at night; or seeking early Caesarean sections for fear they won’t survive until their due date.
     

    In conflict, it is vulnerable civilians who suffer most – pregnant women, children and newborns; the sick, the elderly, people living with disabilities.
     

    Among those affected are our colleagues, who continue to assist the vulnerable, despite having lost family members and their homes.
     

    More than 280 aid workers have been killed since the conflict began. 
     

    As families are packed into overcrowded, unsanitary temporary shelter areas, with no clean water or soap available, menstruation is impossible to manage. Some 10.3 million menstrual pads are needed every month in Gaza, yet nowhere near enough are permitted entry.
     

    Amid this suffering, UNFPA and its partners have helped around 45,000 women give birth safely since October 2023.  We are operating six mobile maternal health units in Gaza, which are equipped to manage obstetric emergencies, including Caesarean sections. UNFPA has also distributed reproductive health kits with medicines, equipment and supplies to support safe births, and deployed teams of midwives and healthcare workers to provide essential antenatal and postnatal care.
     

    UNFPA is deeply concerned for the safety and wellbeing of all women and girls caught up in the conflict. The situation they face is beyond catastrophic. It is time for the international community and all parties concerned to forge a future without fighting, where lives, homes and communities can be rebuilt. We need a ceasefire now. All parties must adhere to international humanitarian law and international human rights law. All hostages and all those arbitrarily detained must be released immediately and unconditionally. Rapid, safe and unimpeded humanitarian access to all in need must be guaranteed. 
     

    The atrocities must end. The fate of humanity does not belong in the hands of those wielding weapons. It must rest with women and young people and their allies standing together to wage peace.

    ####

    MIL OSI United Nations News –

  • MIL-OSI Submissions: Australia – CBA doubles Career Comeback program for 2025

    Source: Commonwealth Bank of Australia (CBA)

    The expanded program offers a wider range of opportunities across both Institutional Banking & Markets and the bank’s Chief Operations Office to support people returning to work from a career break.

    Commonwealth Bank’s Career Comeback Program is helping even more professionals overcome the barriers of returning to the corporate workforce, as the Group’s Chief Operations Office (COO) joins the Institutional Banking & Markets (IB&M) division in offering roles for the 2025 cohort.

    Entering its fifth year, CBA’s Career Comeback program aims to help individuals who have taken a career break of two years or more to transition back into the workforce at a mid-to-senior level.

    The 2025 program has been expanded to more than double the size of past intakes, offering roles across business operations, product management, institutional banking coverage, markets and project management. The paid, 12-week program includes a comprehensive induction process, coaching and technology upskilling, with the potential for successful participants to roll into a permanent position with the institutional bank or the chief operations office.

    “We know a team that is diverse in skills, experiences and perspectives is stronger and more capable and brings greater value to our clients. I’m proud to see our Career Comeback initiative expand to Group COO and support even more experienced professionals to return to a rewarding career in banking, markets and operations,” said Andrew Hinchliff, Group Executive IB&M at CBA.

    “Our people are our point of differentiation and are core to our strategy and our success. With the expansion of Career Comeback across COO, I hope to empower future leaders to consider a career in CBA where they can make a real difference for our customers,” said Sinead Taylor, Chief Operations Officer at CBA.

    Jo Reardon participated in IB&M’s Career Comeback program in 2021 – the first year of the initiative. Ms Reardon had stepped away from a career in institutional foreign currency sales in 2016 and was looking for options to return to the finance sector in late 2020 when she came across CBA’s program.

    “I wanted to go back into banking, but with more flexibility than the client-facing sales roles I’d had in the past, and an operating office role was that perfect middle ground for me,” she said, adding that being part of the Global Markets Chief Operating Office team leveraged her experience of currency markets and supporting institutional customers.

    Jo Reardon

    Today, Ms Reardon works as a Director in the Global Markets Sales Chief Operating Office, delivering strategic initiatives and projects to support the Markets sales team with serving the bank’s wholesale clients.

    “I encourage anyone considering re-entering the workforce to apply for this program. There’s a lot of recognition of the skills and experiences people develop away from a corporate context, and that they translate well into a professional environment, and you get the benefit of being part of a cohort who are in the same boat navigating that transition back into the workplace and helping each other bridge any gaps in technology or new systems and processes,” she said.

    Applications for the 2025 Career Comeback Program are now open and close on 1 November 2024. Successful candidates of the program will commence in March 2025.

    For more information on the CommBank Career Comeback Program, visit: commbank.com.au/careercomeback

    MIL OSI – Submitted News –

  • MIL-OSI New Zealand: Farmers demand rural banking system reform – Federated Farmers

    Source: Federated Farmers

    Farmers are angry about a rural banking system that isn’t working properly, poor bank behaviour, and Reserve Bank rules that hamstring the agricultural sector.
    The Federated Farmers submission to Parliament’s banking inquiry includes more than 1500 comments from farmers fed up with paying over the odds for banking services.
    “Lack of competition in rural banking, unfair practices, unjustifiably high interest margins and overly cautious Reserve Bank restrictions are seriously disadvantaging the nation’s food producers and export income earners,” Federated Farmers banking spokesperson Richard McIntyre says.
    Federated Farmers believes farmers are currently paying up to 1.7% more in borrowing costs than they should in a fair and open market.
    “We’re calling for urgent banking reform in the agricultural sector, where $62.5 billion in lending means even a 1% difference in margins represents $625 million,” McIntyre says.
    One of Federated Farmers’ key recommendations is for the Government to revise the Reserve Bank’s stringent one-in-200-year financial shock standard, which significantly raises borrowing costs for farmers.
    Moving to a one-in-100-year standard would still ensure stability while lowering costs for rural borrowers, McIntyre says.
    As well as the extensive feedback from farmers, Federated Farmers’ 140-page submission to the inquiry includes experts’ opinions, former bankers’ perspectives and research.
    More than one in five Kiwi farmers say their bank isn’t allowing them to structure their debt to minimise interest payments as much as possible.
    Too many farmers are pressured to use overdrafts to manage debt repayments or fund capital projects – tasks overdrafts were never intended for.
    In fact, 12% of farmers say their bank has asked them to fund capital work using an overdraft.
    “This is unacceptable,” McIntyre says.
    “Overdrafts are designed for managing seasonal cash flow, not to burden farmers with higher-interest debt to boost bank profits.”
    Federated Farmers’ submission says agricultural loans should have risk-weighted assets (RWAs) more in line with residential mortgages.
    “Rural loans, backed by valuable land, currently carry higher RWAs, inflating borrowing costs for farmers. A fairer system would provide more equitable access to credit.”
    The Government should ensure Kiwibank is properly funded and instructed to enter the agricultural lending market. Increased competition from a well-capitalised Kiwibank would give farmers better loan options, McIntyre says.
    “Our survey data found 40% of respondents would consider moving to Kiwibank if it offered agricultural banking services. Many farmers feel trapped by their current banking relationships.”
    Farmers also want more accountability and transparency from rural banking services.
    “Major banks should be required to present annually to a select committee, fully disclosing interest rates, lending practices, and profit margins related to agricultural lending.”
    Farmhouses should be classified as residential properties for mortgage purposes, not as commercial or agricultural loans.
    “We also think banks should offer more interest-only loans to farmers with sufficient equity, particularly those with Loan-to-Value Ratios (LVRs) of 50% or more,” McIntyre says.
    “These loans would provide financial relief during tough times without increasing systemic risk.”
    Among other recommendations in the Federated Farmers submission is a push to implement open banking regulations.
    “These would allow farmers to more easily compare financial products and switch banks, fostering greater competition and lowering borrowing costs.”
    McIntyre says Federated Farmers is not arguing for special treatment for farmers, just fairness and transparency.
    “We want to get back to those times when banks worked hard to maintain strong relationships with rural clients through regular on-farm visits, especially for those with substantial loans.
    “The banking inquiry is a huge opportunity for Parliament to significantly reduce costs in the agricultural sector and put in place competition that helps ensure farmers are treated fairly when they access capital to invest.”

    MIL OSI New Zealand News –

  • MIL-OSI Australia: From the Shadows to the Podium: Central Banks and the Press

    Source: Reserve Bank of Australia

    It’s a privilege to be with you today and to announce the shortlist for the 2024 Walkley Business Journalism Award.

    I am not the first senior official of the RBA to address this event – but, to put it mildly, our central banking predecessors a hundred years ago would have been surprised to see us here.

    The high priest of central banking in the mid-1920s was Montagu Norman, Governor of the Bank of England. Norman was an extraordinary character – a devotee of mysticism, who wore a long flowing cloak and travelled under the fake name of Professor Clarence Skinner. His communications strategy was succinctly summarised in the pithy phrase ‘never explain, never apologise’.

    He regularly put those words into practice. When asked by a Parliamentary select committee in 1930 to rationalise a particular course of action, for example, he simply tapped the side of his nose three times and stared into the distance.

    Despite – or perhaps because of – this unusual behaviour, journalists loved him. A breathless 1932 New York Times pen portrait, entitled ‘Banker and Legend’, purred: ‘Mr Norman is all elusiveness, technique, finesse … he sits silent, discreet, unseen … exercising a power unthought of by old-fashioned tyrants and only glimpsed by alchemists of long ago poring over their crucibles.’

    Sadly, that passion went unreciprocated. Indeed, Norman made titanic efforts to avoid the press. Once, aboard ship in rough seas, word reached him that reporters were gathering to question him at the next port. He promptly leapt over the rails, shimmied down a rope ladder, and made his escape in a dinghy.

    ‘Never explain, never apologise’ permeated every aspect of the Bank of England’s operations at that time. Not for them, the modern paraphernalia of glossy reports, explainers and press conferences. For much of the 20th century, changes in official interest rates were communicated solely through the medium of a large printed card, placed in the Bank’s ornate lobby, and a simultaneous verbal announcement by the ‘government broker’ to traders in the government bond market. To effect that announcement, the broker removed his top hat, stood upon a bench, and bellowed at the top of his voice. Fleet Street’s finest played no role.

    Indeed, even when I joined the Bank of England in the early 1990s, the main job of the Head of the Press Office was still said to be, with little irony: ‘keep the Bank out of the press and the press out of the Bank’.

    That mindset extended well beyond the United Kingdom.

    The US Federal Reserve, for example, was established in conditions of such extreme secrecy, that those meeting to agree its charter in 1910 tried to pass off their discussions as a recreational duck hunting trip to Jekyll Island, Georgia. Three quarters of a century later, they were still at it. In 1987, Alan Greenspan famously told members of the US Congress: ‘since I’ve become a central banker, I’ve learned to mumble with great incoherence … if I seem unduly clear to you, you must have misunderstood what I said.’ He was only half joking.

    Over recent years, however, things have changed profoundly as central banks have emerged blinking into the sunlight of greater transparency – a process dubbed the ‘quiet revolution’ by Alan Blinder.

    The revolution certainly began quietly. The RBA, for example, only began announcing changes to its policy rate to the media in 1990. Prior to that, market participants were expected to draw their own conclusions about what had happened by scrutinising the detail of the Bank’s market operations.

    In the years since, however, the revolution has got louder. Central banks now produce a vast stream of material, from written inflation reports, research material and policy committee minutes, to increasingly interactive public appearances, including speeches, Parliamentary scrutiny, conference panels, on-the-record interviews and press conferences.

    All of that reflects two key drivers.

    The first is the recognition that the huge powers conferred on central banks by the granting of operational independence – powers that affect every citizen in the country – come with an essential quid pro quo. And that is the obligation to account for our actions: to explain, and to be scrutinised and challenged. That need for explicit public accountability has been further amplified by the burgeoning scale, scope and complexity of central bank operations; by back-to-back crises; and by the more demanding public expectations of public institutions generally.

    But transparency and challenge isn’t just something we have to do: it manifestly also drives better policymaking. Public understanding and trust in our mission helps to anchor inflation expectations – a vital component of effective monetary policy. Knowing how central banks see the economic outlook, and how policy will respond to changes to that outlook – our so-called ‘reaction functions’ – affects behaviour today. Indeed, for many economies, the vast majority of the effect of monetary policy comes not from changes in today’s official interest rate, but through expectations about how those rates will evolve in the future. So communications is everything – or almost everything.

    But those benefits only accrue if we get our message across – not just to the modern descendants of those top-hatted bankers, but to the public at large. And that’s where we need all of you in this room. Because, let’s face it, central bankers globally have had a mixed track record historically when it came to clear and effective communications – even when they were trying. Back in 2017, Andy Haldane – then Chief Economist of the Bank of England – estimated the minimum reading age required for a range of public communications, including central bank publications, the Economist, Elvis Presley’s lyrics and Donald Trump’s speeches. He found that Trump’s speeches could be understood by three-quarters of the population, and Elvis’s lyrics by only slightly less. But the complexity of most central banking communications at that time meant they could reach at most only 10 per cent of the public. That is no basis for building broad-based trust, credibility and understanding.

    It was clear we could do better – and we are. Research from the European Central Bank (ECB) shows that its current President, Christine Lagarde, uses language that is far more widely comprehensible than her predecessors, on Haldane’s measures. Similarly, the approach adopted by our own Governor, Michele Bullock, at the RBA’s new press conferences has won widespread praise for its clarity and simplicity.

    But the fact is that most people still hear about us through you. Despite the increasingly fractured landscape of social media and on-demand streaming, overwhelmingly the dominant source of information about central bank policy remains the good old press, TV and radio. So we need your skills as translators and explainers.

    More importantly still, we need your challenge. As public officials, knowing your analysis has to withstand public scrutiny drives an enormous lift in the quality and robustness of that analysis. I saw that up close at the Bank of England in the 1990s when we first embraced real transparency. Poor arguments, which once went unquestioned in grey smoke-filled rooms, did not survive the rigour of public examination. So, whatever may have been alleged in some quarters, both I and the RBA strongly welcome challenge, scrutiny and debate.

    Of course, it’s sometimes less fun when robust press scrutiny bleeds over from the purely technocratic to the personal. That’s certainly familiar to someone, like me, who comes from a country whose press managed to summarise a particularly salacious episode in the central bank’s life as ‘It’s the Bonk Of England’, filmed a live runoff between a recent prime minister and a decaying lettuce, and followed the Bank of England Governor to the office every day for a week during Covid in a somewhat confused attack on the Bank’s policy on working from home. Some past RBA Governors have had to face similar treatment.

    But all of us in public life must – and do – recognise the privilege that comes with our roles, and the accountability we owe, via you, to the public at large. So I want to thank you – not just for the vital role you play in helping to explain the complexities of economic policy, but also for your informed scrutiny and challenge, which forces us to raise our game and stay accountable for the huge powers we wield. If the cleansing effect of transparency is to continue to be effective, so must your role.

    With that, let me turn to my main task here today, which is to announce the finalists for the 2024 Walkley Business Journalism Award. The goal of these Awards is to encourage journalists to pursue rigorous and fearless reporting in the field of business, economics and finance. And they have certainly met that brief this year!

    And with that I look forward to our discussion here today. Thank you.

    MIL OSI News –

  • MIL-OSI Economics: Money Market Operations as on October 07, 2024

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 5,23,299.71 6.23 1.93-6.50
         I. Call Money 11,161.74 6.43 5.10-6.50
         II. Triparty Repo 3,51,569.00 6.20 6.11-6.31
         III. Market Repo 1,59,200.97 6.30 1.93-6.45
         IV. Repo in Corporate Bond 1,368.00 6.40 6.40-6.48
    B. Term Segment      
         I. Notice Money** 313.50 6.34 5.95-6.50
         II. Term Money@@ 432.25 – 6.50-7.20
         III. Triparty Repo 150.00 6.32 6.32-6.32
         IV. Market Repo 399.99 6.47 6.30-6.65
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo Mon, 07/10/2024 4 Fri, 11/10/2024 36,825.00 6.49
    3. MSF# Mon, 07/10/2024 1 Tue, 08/10/2024 2,730.00 6.75
    4. SDFΔ# Mon, 07/10/2024 1 Tue, 08/10/2024 89,452.00 6.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -123,547.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo Fri, 04/10/2024 14 Fri, 18/10/2024 44,275.00 6.49
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    5. On Tap Targeted Long Term Repo Operations€ Mon, 15/11/2021 1095 Thu, 14/11/2024 250.00 4.00
    Mon, 27/12/2021 1095 Thu, 26/12/2024 2,275.00 4.00
    6. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£ Mon, 15/11/2021 1095 Thu, 14/11/2024 105.00 4.00
    Mon, 22/11/2021 1095 Thu, 21/11/2024 100.00 4.00
    Mon, 29/11/2021 1095 Thu, 28/11/2024 305.00 4.00
    Mon, 13/12/2021 1095 Thu, 12/12/2024 150.00 4.00
    Mon, 20/12/2021 1095 Thu, 19/12/2024 100.00 4.00
    Mon, 27/12/2021 1095 Thu, 26/12/2024 255.00 4.00
    D. Standing Liquidity Facility (SLF) Availed from RBI$       6,850.74  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -33,884.26  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -157,431.26  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on October 07, 2024 10,27,404.10  
         (ii) Average daily cash reserve requirement for the fortnight ending October 18, 2024 10,01,756.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ October 07, 2024 0.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on September 20, 2024 4,18,318.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    € As per the Press Release No. 2020-2021/520 dated October 21, 2020, Press Release No. 2020-2021/763 dated December 11, 2020, Press Release No. 2020-2021/1057 dated February 05, 2021 and Press Release No. 2021-2022/695 dated August 13, 2021.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    £ As per the Press Release No. 2021-2022/181 dated May 07, 2021 and Press Release No. 2021-2022/1023 dated October 11, 2021.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    Ajit Prasad            
     Deputy General Manager
    (Communications)    
    Press Release: 2024-2025/1243

    MIL OSI Economics –

  • MIL-OSI Economics: Targeted Policies for Digital Creative Industries Can Drive Economic Growth in Asia and Pacific

    Source: Asia Development Bank

    MANILA, PHILIPPINES (8 October 2024) — Coherent national strategies that develop talent and expand digital creative industries can help developing countries tap into the global creative economy, generating high-quality jobs that contribute to economic growth, according to a new report published today by the Asian Development Bank (ADB).

    “Digital disruption of creative industries can present huge economic potential in Asia and the Pacific,” said ADB Director General for Climate Change and Sustainable Development Bruno Carrasco about the launch of A Review of Digital Creative Industries in Asia: Opportunities and Policies to Foster Growth and Create High-Quality Jobs.

    “Yet the policy environment does not always allow creatives to thrive and connect with the global value chain,” added Mr. Carrasco. “This report can help industry and policy makers shape Asia and the Pacific’s digital creative industries, foster opportunities to bridge the region’s rich cultural heritage with the rest of the world and drive economic growth.”

    Based on more than 40 interviews with key individuals across India, Indonesia, Thailand, and Viet Nam—including with industry associations and creative professionals in the film, gaming and music industries—the report highlights opportunities for emerging countries to boost their digital creative industries, assess domestic talent development, and encourage policies that create high-quality jobs.

    While there is strong demand from global entertainment companies to produce local content and work with local talent, there are not enough skilled local producers, screenwriters, and programmers. To address this, the report recommends that governments and industry define the essential knowledge and skills required to perform different creative roles, build lifelong training systems, incentivize businesses to upskill their workers, and improve creative industry working standards.

    Such long-term strategies have helped creative powerhouses—such as Canada, the Republic of Korea, Singapore, and the United Kingdom—to grow their domestic talent pools and attract foreign investment. The report distills key lessons from these countries that can help guide policymakers aiming to develop creative industries.

    Another barrier identified is a severe lack of funding in the four countries examined in South and Southeast Asia. This limits the potential for local film producers, game developers, and musicians to grow, even as high-speed internet, streaming platforms, and portable devices have enabled them to reach much wider audiences.

    Establishing structured funding facilities, including loans, credit guarantees, grants, and venture capital financing, can transform creative ideas into concrete projects, according to the report. With sufficient support from the government or through public–private collaboration, these businesses can be provided with a financial safety net to innovate.

    The report was produced with support from Netflix, the video entertainment streaming service. As ADB’s knowledge partner, Netflix provided experts to be interviewed for the report and enabled access to key stakeholders in the digital creative industry. The work on the report is part of the two organizations’ ongoing collaboration to generate knowledge and boost Asia and the Pacific’s creative industries.
        
    ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 69 members—49 from the region.

    MIL OSI Economics –