US Navy completes pier project at Bahrain base

first_img View post tag: USACE Authorities A ribbon-cutting ceremony held on February 20 marked the completion of a new USD 49.6 million steel and concrete pier project at the US Navy base in Bahrain.The pier, built by the US Army Corps of Engineers Middle East District, is expected to enhance the navy’s operational readiness in the region.Previously, the US Navy had been using barges for much of the work on ships that can now be done while docked at the pier. Additionally, larger ships needed to use the commercial port in Bahrain for things that required an extended docking such as a resupply operation. That meant increased security and logistics requirements, greater transit time and an increase in maritime traffic congestion in an already extremely busy port.“Since the barges had basically become unusable over time, it was extremely important to our navy partners that we deliver this project as quickly as possible,” Army Capt. Grant Wanamaker, a project manager with the District in Bahrain, said.Wanamaker said the Corps of Engineers was able to expedite things using a process called a critical path design. A critical path design is a process in which construction is able to start prior to completion of the entire project design.Apart from the time frame challenge, the team had to put concrete trucks onto barges to get the concrete where it needed to be. Beyond the engineering challenge this presented, they also had to work around heavy maritime traffic in the area.“This was a pretty straight forward pier as that type of build goes but it’s not something USACE does very often and not something we’ve executed here before. I’m extremely proud of the work our team has done,”  Wanamaker added.Ultimately, the project was completed six months ahead of the original Building Occupancy Date (BOD) schedule and will significantly improve 5th Fleet capabilities.The commanding officer of Naval Support Activity Bahrain, Navy Capt. Greg Smith, said the pier would greatly improve shore operations for the U.S. Navy and their partners in the region.“With this pier, we are better able to do our mission to support U.S. and coalition maritime operations throughout the USCENTCOM AOR.”“We can provide more efficient and effective shore services to the U.S. 5th Fleet and the 31 coalition partners … we will all work together to enhance stability and ensure the free flow of commerce throughout the region,” Smith explained. View post tag: Bahrain navaltoday US Navy completes pier project at Bahrain base to boost operational readiness View post tag: Pier February 26, 2020, by View post tag: US Navy Back to overview,Home naval-today US Navy completes pier project at Bahrain base to boost operational readiness Share this articlelast_img read more

Stress testing: Are the results guiding your CECL decision-making?

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading » According to economists, a recession is looming. In a recent survey by the National Association for Business Economics, 74% of economists who responded expect a recession by the end of 2021.Historically low levels of losses have allowed reserve levels to go below pre-financial crisis levels. Charge offs were close to zero for most banks since 2013, according to call report data from S&P Market Intelligence. So the question remains: would they hold up against a recession? Stress testing gives an institution a serious look into their capital and reserves, and if they possess enough of each to remain viable, should a recession hit. It also provides guidance for the impact of the new accounting standard, Current Expected Credit Losses (CECL), on the portfolio. The impending implementation of CECL is forcing institutions to perform economic forecasts, as opposed to the current allowance for loan and lease losses (ALLL) model which focuses on previously incurred losses, to have a more holistic and accurate depiction of risk. It takes into account the entire life of a loan instead of just looking a few years down the road.Both CECL and stress testing take top-down and bottom-up approaches to test the capital adequacy of a financial institution. However, it is important to determine which method is right for your institution. In a recent Abrigo webinar, CEIS Review’s Dean Giglio and David Vest and Abrigo’s Tim McPeak discussed the pros and cons of each approach in both CECL implementation and stress testing.last_img read more

Trophy assets

first_imgTo access this article REGISTER NOWWould you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week. Would you like to read more?Register for free to finish this article.Sign up now for the following benefits:Four FREE articles of your choice per monthBreaking news, comment and analysis from industry experts as it happensChoose from our portfolio of email newsletterslast_img

Mourinho: Young Blues will frustrate me

first_img The Portuguese hopes, after responding from successive defeats to Everton and Basle by beating Fulham and Swindon, drawing at Tottenham and winning at Steaua Bucharest, the Blues can win again at Norwich on Sunday. “It would be good,” said Mourinho, ahead of the final Barclays Premier League encounter before the international break. Jose Mourinho acknowledges his Chelsea side are far from the finished article and will suffer setbacks while they make advances. “We have a lot to improve, we have a lot to work. We will have moments of ups and downs, because teams of this profile, with young people, with some people that are not mature, the normal tendency is that performances are not always very stable. “We will have our ups and downs for sure. I’m ready for that.” Chelsea are still to win away from home in the Premier League this season. Their two victories away from Stamford Bridge were at Swindon in the Capital One Cup and in Romania last Tuesday night. The Champions League Group E game was all the more important after the loss to Basle and Mourinho was pleased with his side’s response. Following a run of a three successive away matches, Mourinho would like success in the fourth to enter the international break on a high, with the momentum continuing in the right direction. “Away, away, away, away is never easy, but we managed to get a good result under pressure in Bucharest, because we were really under pressure,” Mourinho said. “If we didn’t win that match we would’ve been in big trouble. We managed to win that game and that gave us a bit of confidence. “If we can win now, 15 days without football it will be a period to reflect, to analyse and to prepare for what is coming.” Chelsea play at home to Cardiff and Manchester City, either side of a Champions League match at Schalke, following the international break. Mourinho spoke highly of Norwich counterpart Chris Hughton, the investment made in recruiting the likes of Ricky van Wolfswinkel from Sporting Lisbon and insisted Chelsea would not underestimate the Canaries. Mourinho added: “They made a great investment this season. They had money to spend, they spent it. “They brought in good players, players with future, not just the next couple of years. The squad is very good. “The manager in my opinion is good too. I like the way he coaches. “I like the way he organises his teams, always a good mentality, always well organised. “We know it’s one more difficult match for us.” Juan Mata, who has impressed Mourinho with the new-found work ethic demanded by the manager, is confident of success at Carrow Road. The playmaker said on chelseafc.com: “We need our first away league win as soon as possible. “If we want to fight for the title you need to win your home games but also pick points up away as well. “Obviously when you play away it’s difficult, especially against teams like Norwich who are very good at home, but we’re good enough to do it. “We won 1-0 on Boxing Day there last season, I scored and I think we played really well, particularly in the first half. Now we are full of confidence and we believe we can go there and win again.” Press Associationlast_img read more

The Latest: Fasig-Tipton consolidating its yearling sales

first_img Associated Press A tentative national schedule has been released, leading up to the U.S. Olympic Trials in Omaha, Nebraska, in June 2021.The first meet of the TYR Pro Swim Series is set for Richmond from Nov. 5-8, followed by Knoxville, Tennessee (Jan. 13-16, 2021), San Antonio (March 3-6), Mission Viejo, California (April 8-11, 2021), and Indianapolis (May 12-15).Other meets on the tentative national schedule include the Toyota U.S. Open in Atlanta from Dec. 2-5, as well as the Speedo Juniors East and West short-course meets from Dec. 9-12, which will be held in Atlanta and Austin, Texas, respectively.___UEFA is paying 236.5 million euros ($255 million) in advance to its national federations and easing requirements on how they spend it during the pandemic. The program is worth more than 11 million euros ($12 million) in the current 4-year cycle compared to $6 million in basic funding from FIFA for 2019-22.___Organizers of the Catalonia Vuelta cycling race say this year’s edition will take place next year.The 100th edition of the race had already been postponed because of the coronavirus pandemic. It was originally scheduled for March 23-29.Organizers say the cycling calendar has been significantly reduced because of the pandemic and they didn’t want the Catalonia Vuelta competing with other major events. They also did not want to change the race’s format. ___There won’t be any sun or sand for beach volleyball pros amid the coronavirus pandemic.The AVP tour has created a public service announcement to urge its fans to stay home to help fight the spread of the disease. Olympic medalists April Ross and Todd Rogers and a handful of the tour’s other stars recorded videos at home that were assembled for the spot that debuted on Monday.The U.S. tour for the quintessentially outdoors sport has postponed all of its events at least until the Hermosa Beach Open in late July. The international beach volleyball tour has also come to a halt, along with qualifying for the now-postponed Tokyo Olympics.“Together, we can overcome this opponent,” says Ross, who won a silver medal in London and a bronze in Rio de Janiero. FIFA says the rule could be used by all competitions finishing this year and next and all national team games through 2021.FIFA’s proposal must be formally approved by rule-making panel IFAB.___Formula One chairman Chase Carey says he is “increasingly confident” the season can start in July despite the first 10 races being canceled or postponed because of the coronavirus pandemic.The French Grand Prix decided to call off its race on June 28 rather than postponing it. That means the earliest start date is now the Austrian GP on July 5. April 27, 2020 Share This StoryFacebookTwitteremailPrintLinkedinRedditThe Latest on the effects of the coronavirus outbreak on sports around the world:___Fasig-Tipton will consolidate its July, Saratoga, and New York Bred yearling sales into one auction showcase on Sept. 9-10 at its Lexington, Kentucky, facility. The French Grand Prix has been canceled because of the coronavirus pandemic.The decision further pushes back the start of the Formula One season.The race was scheduled for June 28 on the Paul Ricard circuit in Le Castellet in southern France. The French government has banned public gatherings until mid-July and race organizers decided not to try to postpone the race or try holding it without fans.French GP managing director Eric Boullier says their plans are “already turning towards the summer of 2021 in order to offer our spectators an even more original event.”F1 chairman Chase Carey says “while it is disappointing for our fans and the F1 community that the French Grand Prix will not take place we fully support the decision.” ___The title sponsor of New Orleans’ canceled PGA Tour event is donating $1.5 million to the tournament’s primary charitable foundation.The donation matches the amount raised during the 2019 Zurich Classic, which was played in a team format and won by the tandem of Ryan Palmer and Jon Rahm.Before the PGA began canceling events due to the coronavirus pandemic, this year’s Zurich Classic had been scheduled to take place last week at TPC Louisiana, which recently completed $1.9 million in course renovations that entailed digging up and re-sodding fairways, as well as restoring greens and bunkers, and improving drainage.For more than six decades, the New Orleans-area PGA Tour event’s primary charity has been The Fore!Kids Foundation, which raises money through golf events and distributes funds to area children’s service organizations. The Latest: Fasig-Tipton consolidating its yearling sales ___Clemson has canceled all its in-person, on-campus athletic and academic camps due to the coronavirus pandemic. That includes two weeks of coach Dabo Swinney’s football camps where the Tigers coaches have the chance to meet and watch prep athletes work out each summer. The university announced its decision on Monday. It said the school will remain closed until May 8. Late spring and summer camps are popular stops for young people eager to gain instruction and contacts with Clemson coaches in all sports. Swinney and his staff have done well in attracting some of the nation’s top players, in part because they came to work out at the school’s facilities. Clemson finished with the No. 1 recruiting class for this upcoming football season, according to ESPN.com. Silverstone circuit managing director Stuart Pringle wrote an email to ticket buyers saying he is “extremely disappointed to tell you that we are unable to stage this year’s British Grand Prix in front of the fans.”Pringle says organizers left the decision for as long as possible “but it is abundantly clear given the current conditions … that a Grand Prix under normal conditions is just not going to be possible.“___More AP sports: https://apnews.com/apf-sports and https://twitter.com/AP_Sports,Tampa Bay Lightning advance to face Dallas Stars in Stanley Cup finals, beating New York Islanders 2-1 in OT in Game 6center_img The person spoke to The AP on Monday on the condition of anonymity because the person is not authorized to discuss the plans of the NHL’s top minor league.The AHL responded by saying there was “nothing imminent” in terms of calling off the remainder of the season.Last week, AHL President and CEO David Andrews said the league was “pivoting” to the 2020-21 season, while adding nothing was official regarding the status of this season.The 31-team AHL joined the NHL in suspending its season on March 12.— AP Hockey Writers John Wawrow and Stephen Whyno reporting. Zurich became the event’s title sponsor in 2005 and since has helped raise more than $21 million for community charities, tournament officials said. Those charities’ missions include providing food, housing and holiday gift cards, as well as educational and recreational opportunities, for children. Beneficiaries also include organizations that assist patients with cancer or other serious ailments and disabilities.___USA Swimming has announced its plans for a return to competition, beginning with a series of regional events in August before the national schedule begins in early November at Richmond, Virginia.The governing body is canceling all national events in July and early August because of the coronavirus pandemic. The regional events will be held in August, with an eye toward limiting the need for travel and promoting a safer environment for athletes, coaches, officials and families.USA Swimming said it will announce further scheduling details in the coming weeks, subject to local health guidelines. The men’s and women’s professional tours are currently suspended until July because of the coronavirus pandemic.Brown is from Germany and his father is Jamaican. He upset Rafal Nadal in the second round at Wimbledon in 2015.Brown says on the event’s website he is “happy to have the chance to compete again. … I am looking forward to going out there doing what I love.”The shortened matches will be best of three with four games to win a set. Tiebreakers will be played at 3-3.___ ___FIFA wants to let soccer teams use five substitutes to cope with expected schedule congestion caused by the coronavirus pandemic.FIFA says the temporary plan could help prevent more injuries due to “potential player overload” as soccer competitions catch up with a backlog.The proposal gives competition organizers the option of letting teams use five substitutes in 90 minutes and a sixth in knockout games that go to extra time.Teams would still be limited to three stoppages of play to make the changes. Carey says “we are now increasingly confident with the progress of our plans to begin our season this summer” and that 15-18 races can take place.F1 plans to start racing in Europe “through July, August and beginning of September, with the first race taking place in Austria.”The plan is then to race in “Eurasia, Asia and the Americas, finishing the season in the Gulf in December with Bahrain before the traditional finale in Abu Dhabi.”Carey expects the early races to be without fans but hopes they “will be part of our events as we move further into the schedule.”___ The company made its decision after watching the progression of the coronavirus pandemic over the last several weeks.Fasig-Tipton president Boyd Browning says the 2-year-old sales season needs to end before yearling sales begin, which makes the usual July sale unfeasible. With details for Saratoga’s summer racing season yet to be finalized, Browning says the auction house needed to give sellers a definitive schedule so they can make plans for their yearlings.The sales will return to their traditional dates in 2021.___A person with direct knowledge of discussions tells The Associated Press it’s “quite likely” the American Hockey League will cancel the remainder of its season because of the new coronavirus pandemic. The Russian soccer league says it is hoping to resume play in late June and wants to complete its season by Aug. 2.The league says it is discussing June 21 and 28 with clubs as possible dates to resume the season amid the coronavirus pandemic. Each club has eight more league games to play.The league says it would keep promotion and relegation if the season can be completed.The league could expand from 16 to 18 teams for next season with the addition of the two best-placed teams from the second division if the season can’t be finished. It would then shrink back to its current size for the 2021-22 season. The Russian Cup could also be removed from the calendar for next season only.Players in Russia are currently training on their own at home during a nationwide lockdown and some foreign players have left the country. The league says it has discussed a return to training but didn’t announce any dates for that. The first 10 races this season have either been rescheduled or canceled.The Austrian Grand Prix on July 5 is now the earliest potential date to start the season.___British Grand Prix organizers say they are talking to the government about the viability of holding the Formula One race on July 19 with no fans amid the coronavirus pandemic.The season was due to begin in March but no races have been possible so far. Organizers say they want “to celebrate a 100th edition with the maximum guarantees and with the best world cyclists.”They say the race will be held next year in the last week of March.___A group of professional tennis players led by Dustin Brown will meet in a series of exhibition tournaments in Germany starting Friday.The live-streamed event will take place at an academy near the small town of Höhr-Grenzhausen. UEFA says each of its 55 members is getting up to 4.3 million euros ($4.7 million) they are due in central funding through next season.UEFA president Aleksander Ceferin says the money “can be used as our members see fit to rebuild the football community.”Ceferin says “this is a responsible decision to help as much as we can.”European officials are usually required to spend certain amounts in areas such as youth and women’s soccer, referee training, and operating costs. They are not subject to mandatory UEFA audits.UEFA’s funding program, called Hat-Trick, is worth twice as much to European federations as they get from FIFA. last_img read more