Capital markets opening to credit unions

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr New territory is opening up for sophisticated credit unions: access to the capital markets, where long-term debts or equity-backed securities are bought and sold.Last year $2.3 billion GTE Financial, a federal credit union based in Tampa, Florida, tested the new option for credit unions to do securitizations and reports success.GTE Financial is usually a prodigious producer of automobile loans. In 2019, it originated $401 million of them, $305 million direct and $96 million indirect, according to CFO Brad Baker, a CUES member.That was more than the credit union wanted to keep, which would normally be about 35% of the portfolio. From 2014 through 2018, GTE Financial divested $202 million of automobile loans through participations, each ranging in size from $1 million to $23 million. continue reading »last_img read more

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President to draft regulation to control ‘mudik’ this year in battle against COVID-19

first_imgRead also: COVID-19: Jakarta to suspend interprovincial buses as ‘mudik’ persists”The President stressed that the public’s safety is the number one priority amid the COVID-19 pandemic. This means, the public’s safety is the highest law,” Presidential spokesman Fadjroel Rachman said in a statement on Monday.Jodi Mahardi, the spokesperson of the Office of the Coordinating Maritime Affairs and Investment Minister, said the President also demanded officials in a Cabinet meeting on Monday to study ways to mitigate the economic impacts of the outbreak. The greatest concern is for the most-impacted segments of society, namely informal workers, daily wage workers and small businesses in Jakarta who have lost their source of income.”The results [of the studies] are expected to be ready within two days and the President will make a decision on the matter,” Jodi said in a statement. (trn)Topics : President Joko “Jokowi” Widodo is currently drafting a presidential instruction (Inpres) and presidential regulation (Perpres) as the legal basis to exert more control over this year’s Idul Fitri mudik (exodus) to curb the COVID-19 outbreak, officials have said.The President has called on the public to reduce travel between regions as the country struggles to contain the spread of the coronavirus with many people beginning mudik early.Jokowi also called on those who have traveled between regions to alert authorities and to abide by health protocols.last_img read more

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Trump upbeat on three coronavirus vaccine candidates

first_imgSpeaking at a US Senate hearing, Collins said the United States aimed to have the ability to conduct a million rapid, on-site COVID-19 tests per day some time around September to enable the reopening of schools and resumption of sports events.The US Department of Health and Human Services said last month that the administration aimed to narrow its financial support to about seven experimental coronavirus vaccines from the previous 14.The number of US COVID-19 infections has surged over the past week, with daily figures setting new records several times fueled by outbreaks in Texas, California, Florida and Arizona. Topics : US President Donald Trump on Thursday voiced optimism the United States would soon come up with a vaccine for the novel coronavirus, saying three vaccine candidates were looking especially good.”Three are really, really looking good,” Trump said at an event at the White House, without providing details. “We think we’re going to have it soon.”US National Institutes of Health Director Dr. Francis Collins said earlier on Thursday that he was optimistic the Trump administration’s vaccine-acceleration program “Operation Warp Speed” will generate a safe and effective vaccine for COVID-19 by year-end and can meet a target of making 300 million doses by early 2021.last_img read more

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Szczesny: Arsenal can win Premier League

first_imgArsenal goalkeeper Wojciech Szczesny is confident the Gunners can win the Premier League if they can maintain their current form.The Gunners beat Cardiff 3-0 on Saturday and are four points clear at the top of the table with 13 games played and Szczesny wants his team to continue their hot streak.”If we carry on like we are now then I’m certain we’ll be top in May,” he told reporters.“But we have a lot of work to do, a lot of tough games to win. There’s no point in putting pressure on ourselves. We just want to enjoy every single game, that’s bringing the best out of us and I don’t think that will change.“We’re in a position that we’d like to be in for as long as possible. But it really doesn’t matter where we are now. It matters where we are in May.”Next up for Arsene Wenger’s side is a visit from Hull City, who pulled off the most surprising result of the weekend by beating Liverpool 3-1 at the KC Stadium, and Szczesny is not taking the game lightly. “We want to focus on the next game, which is Hull, and to keep on winning,” he added. “If we do that, get the right result then we’ll put ourselves in a very comfortable position at the top of the table.“It’s very good to have that cushion at the top of the table. If we want to win the league then we must do our job very professionally to beat teams like Hull.”The Poland international also took time out to pay tribute to Aaron Ramsey who continued his sparkling form this season with another two goals against his former club Cardiff.“I think it was obvious that if anyone was going to score then it would be Aaron,” he said. “I thought he was respectful not to celebrate.  “We’re so pleased for him. He’s been through a lot, he’s come back so well and I just hope he continues. Is he the best in the league? I don’t care as long as he does the job for the team.“I’m just as amazed as everyone else. We always knew that he could play well but to score as many as he has, any striker would be delighted with that. He’s been so good.”last_img read more

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