Fixing the NCUA’s Fixed Asset Rule

first_imgby: Jane PannierThe NCUA has gone back to the drawing board and reissued a revised proposal concerning federal credit unions’ ownership of fixed assets. The proposed rule issued in 2014 drew mostly negative comments stating that it didn’t go far enough in providing credit unions with authority to manage their own resources. This renovated proposal represents a significant improvement over the previous proposal by eliminating altogether the 5% cap on fixed assets.Under ConstructionThe proposed changes to the current fixed assets rule are as follows:The 5% RemovalElimination of the 5% aggregate limit on investments in fixed assets for federal credit unions with $1,000,000 or more in assets. NCUA proposes to oversee an FCU’s ownership of fixed assets through the supervisory and examination process rather than by setting an artificial limit. Accordingly, the current provisions dealing with waivers to the 5% limit would be deleted and any existing waivers would be considered moot as of the effective date of a final rule. continue reading » 4SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Vietnam reports two new H5N1 cases, one fatal

first_imgFeb 14, 2008 (CIDRAP News) – Health officials in Vietnam reported today that the H5N1 virus has struck two men in two of the country’s northern provinces, killing a 40-year-old and sickening a 27-year-old, according to media reports.Nguyen Huy Nga, director of the health ministry’s preventive medicine department, said the 40-year-old man was from Hai Duong province, about 40 miles southeast of Hanoi, the Associated Press (AP) reported today. If the World Health Organization (WHO) confirms the man’s illness, he will be recorded as Vietnam’s 103rd case-patient and its 49th death from the virus.The man died yesterday, 6 days after he was admitted to Vietnam’s tropical disease hospital in Hanoi, Nga told the AP.Dong Van Chuc, director of the provincial animal health department, said nine of the man’s 12 fighting cocks have died since late January, the AP reported. However, Reuters reported today that health officials said the man and his family ate two chickens that had died suspiciously and that poultry deaths have been reported in his neighborhood. Health workers are also monitoring his family members for signs of the disease.Meanwhile, Central Vietnam Television reported today that samples from a 27-year-old man from Ninh Binh province tested positive for the H5N1 virus, according to Xinhua, China’s state news agency. If the man’s illness is confirmed by the WHO, he will be listed as Vietnam’s 104th case-patient.The man was admitted to a Hanoi hospital 2 days ago, where he remains in critical condition, the country’s state-run Vietnam Television reported last night, according to a report today from Reuters. The health ministry said he had slaughtered two sick chickens on Jan 31, the report said.The two patients are Vietnam’s second and third reported to be infected with the H5N1 virus in 2008. Vietnam has the second-highest avian flu case count, after Indonesia. For now, without the two latest patients, the WHO’s total for the country stands at 102 cases and 48 deaths, compared with 127 cases in Indonesia and 103 deaths.last_img read more

Aker BP given nod for three North Sea wells

first_imgMaersk Intrepid. Image source: Maersk Drilling under CC BY-NC-ND 2.0 licenseAker BP has been given a permission by the Norwegian Petroleum Directorate to drill three wells in the North Sea.The company will use the Maersk Intrepid jack-up drilling rig to drill production wells 25/10-16 S, 25/10-16 A, and 25/10-16, after it completes drilling production wells on the Martin Linge field in the northern part of the North Sea.The drilling program for wells 25/10-16 S and 25/10-16 A relates to the drilling of two appraisal wells and the drilling of one wildcat well 25/10-16 B in production license 028 B. Aker BP ASA is the operator with an ownership interest of 35 percent. The other licensees are Equinor Energy AS (50 percent) and Spirit Energy Norge AS (15 percent).The area in this license consists of part of block 25/10. The wells will be drilled about ten kilometers north of the Ivar Aasen field in the central part of the North Sea.Production license 028 B was awarded on 15 December 1999, and was carved out of production license 028 which was awarded in 1969 in the 2nd licensing round on the Norwegian shelf. These are the first three exploration wells to be drilled within the actual license, but two exploration wells were drilled when oil and gas discovery 25/10-8 Hanz was proven and delineated for the first time in 1997.last_img read more