Okie Oil Man MtnGoat
Wed, July 3, 2013
Subject: Dinar RV Basil 3 Compliance
Okie Update from OOM&F Wednesday Afternoon [..OKIEOILMAN] I THINK ACCORDING TO SOURCES WE ALL SHOULD BE THINKING ABOUT PACKING OUR TRAVELING BAGS–THE IMMENCE OF THIS IS ASSURED. PERHAPS LATER TODAY I WILL BE ABLE TO ELABORATE MORE. AS FOR ME I AM MAKING FINAL PREPARATIONS FOR THE ARRIVAL OF OUR BLESSING. I REALLY NEED TO LAND SOON AND IT APPEARS THAT IS GOING TO BE THE CASE NEARLY IMMEDIATELY (OR VERY SOON NOW). I AM CHECKING MY FINAL LANDING CHECK LIST AS […] Read More…
Okie Update From OOM&F Monday Evening
] [..OKIEOILMAN] GOOD MONDAY EVENING AMERICA, SHIPS AT SEA AND ALL OUR WORLD WIDE FRIENDS.–WELL WHEN ALL THAT NEEDS SAYING HAS BEEN SAID–WHAT MORE ARE THERE TO SAY?
THE PROCESS I HAVE BEEN REFERRING TOO THE LAST 2 POSTS HAS BEEN COMPLETED AND THERE ARE NO MORE STUMBLING BLOCKS IN THE ROADWAY AHEAD.
WE ARE AT THE POINT THAT OUR GOAL HAS BEEN REACHED. IF YOU HAVE BEEN KEEPING UP WITH THE OTHER POSTS FROM OTHER INTEL PROVIDERS I WOULD HAVE TO CONGRATULATE THEM ON BEING CORRECT.
THERE ARE NOTHING MORE TO BE ACHIEVED AND THE SOLE DESCRETION OF THE TIMING OF THE RELEASE NOW LIES IN THE BANKS HANDS AND IS CONTINGENT ON A NOTIFICATION FROM THE U.S.T. TO ACTIVATE THE C/E.
I CAN SAY NO MORE AND AM LIKE EVERYONE SIMPLY AWAITING ON THEM TO RELEASE THE AUTHORITY TO MAKE THE LAST POST LETTING US KNOW IT IS OFFICIAL. PATIENCE IS STRAINED BUT OUTCOME IS ASSURED. KEEP THE FAITH AND PRAYERS GOING UP.—-BLESSINGS
RV Update from MntGoat Emailed to Recaps Tuesday AM Hello Eveyone:
I will not do any formalities today and will go right to the information because it is so good.
First let me say I wanted to give you an update over the weekend however the news was extremely hard to get out of Iraq and I could not reach my contacts. Finally yesterday I got through to Iraq.
So why have we not seen the RV already? Its July 1st already I stated.
I asked this question to my contact and here is what I was told- (I will try to quote as much as possible)
The National Meeting was a huge success on Saturday and all the politicians made their grand speeches. The Federation Council was activated.
It was apparent at the meeting that Maliki was stepping back and not really in control any longer. Some small groups of people lingered in the streets late in the night after the meeting and celebrations tampered down and became to get angry as they expected to see the new rate immediately (and he laughed) after the meeting. …. *Read More Link on Right* What hold up? said my contact. We are just fine over here. All is well over here. The currencys' new rate has been activated mid Monday. It is $3.44 now as shown on posters in the windows at the banks.
I also have a freind who tried to use the ATM to get cash and could not yet do it however the new rate was showing. The cards are activated as others are using the machines successfully.
The new lower denoms are but being rolled out according to type of payout. People were told on the TVs a schedule to watch for their activation. Tarriffs are implemented as the TV news is also telling us over here.
*So I asked myself…If it is activated in Iraq on Monday then why have we not seen it yet in the USA? *
I don't know said my Iraq contact. Thus I made yet another call to my contact in the IMF. He is telling me that any country that is not fully Basil III compliant will cause a delay in activation until the final requirements are ironed out.
The USA is one of these countries. I was told this issue is now resolved (he told me how but I will not repeat it since you would not like the politics involved). I also agreed not to talk about it.
The important part is the USA should see activation *sometime during the next couple days*.
Please don't shoot the messenger. Like you, I surely hope this information is true. Let's see how it all plays out in the next couple days. I think we will all be at the bank on Weds or by the end of the week for sure.
Peace and Luv to ya all. Mnt Goat
[image: Board of Governors of the Federal Reserve System]
The Federal Reserve Board on Tuesday approved a final rule to help ensure banks maintain strong capital positions that will enable them to continue lending to creditworthy households and businesses even after unforeseen losses and during severe economic downturns.
The final rule minimizes burden on smaller, less complex financial institutions.; It establishes an integrated regulatory capital framework that addresses shortcomings in capital requirements, particularly for larger, internationally active banking organizations, that became apparent during the recent financial crisis. The rule will implement in the United States the Basel III regulatory capital reforms from the Basel Committee on Banking Supervision and certain changes required by the Dodd-Frank Wall Street Reform and Consumer Protection Act.
"This framework requires banking organizations to hold more and higher quality capital, which acts as a financial cushion to absorb losses, while reducing the incentive for firms to take excessive risks," Chairman Ben Bernanke said. "With these revisions to our capital rules, banking organizations will be better able to withstand periods of financial stress, thus contributing to the overall health of the U.S. economy."
Under the final rule, minimum requirements will increase for both the quantity and quality of capital held by banking organizations. Consistent with the international Basel framework, the rule includes a new minimum ratio of common equity tier 1 capital to risk-weighted assets of 4.5 percent and a common equity tier 1 capital conservation buffer of 2.5 percent of risk-weighted assets that will apply to all supervised financial institutions. The rule also raises the minimum ratio of tier 1 capital to risk-weighted assets from 4 percent to 6 percent and includes a minimum leverage ratio of 4 percent for all banking organizations. In addition, for the largest, most internationally active banking organizations, the final rule includes a new minimum supplementary leverage ratio that takes into account off-balance sheet exposures.
On the quality of capital side, the final rule emphasizes common equity tier 1 capital, the most loss-absorbing form of capital, and implements strict eligibility criteria for regulatory capital instruments. The final rule also improves the methodology for calculating risk-weighted assets to enhance risk sensitivity. Banks and regulators use risk weighting to assign different levels of risk to different classes of assets–riskier assets require higher capital cushions and less risky assets require smaller capital cushions.
"Adoption of the capital rules today is a milestone in our post-crisis efforts to make the financial system safer," Governor Daniel Tarullo said. "Along with the stress testing and capital review measures we have already implemented, and the additional rules for large institutions that are on the way, these new rules are an essential component of a set of mutually reinforcing capital requirements."
The banking agencies carefully reviewed the comments received on the proposal and made a number of changes in the final rule, in particular to address concerns about regulatory burden on community banks. For example, the final rule is significantly different from the proposal in terms of risk weighting for residential mortgages and the regulatory capital treatment of certain unrealized gains and losses and trust preferred securities for community banking organizations.
In total, for community banks, the changes from current regulations target a few areas that are higher risk, but are otherwise minimal. Indeed, nine out of 10 financial institutions with less than $10 billion in assets would meet the common equity tier 1 minimum plus buffer of 7 percent in the final rule, according to data from March 2013.
As with all financial institutions subject to the final rule, community banks will have a significant transition period to meet the new requirements. The phase-in period for smaller, less complex banking organizations will not begin until January 2015 while the phase-in period for larger institutions begins in January 2014. In another change from the proposal, savings and loan holding companies with significant commercial or insurance underwriting activities will not be subject to the final rule at this time. The Federal Reserve will take additional time to evaluate the appropriate regulatory capital framework for these entities.
The Federal Reserve coordinated the final rule with the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC), which continue to review this matter. The FDIC has provided notice that it will consider the matter as an interim final rule on July 9, 2013. The OCC expects to review and consider the matter as a final rule by July 9, 2013.
Federal Register notice (PDF)
Community Bank Guide (PDF)
Statement by Chairman Ben S. Bernanke
Statement by Governor Daniel K. Tarullo
Statement by Governor Elizabeth A. Duke
For media inquiries, call 202-452-2955 2013 Banking and Consumer Regulatory Policy
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