EU, U.S. criticized over banking standards implementation

A new report finds that there has been progress towards the adoption of a new capital regime for banks in many countries, but that some will be challenged to meet their deadlines, and to ensure consistency between local rules and the global standards. The Basel Committee on Banking Supervision published a status report on the implementation of its banking standards across its member countries Monday, in advance of the next G20 summit in Mexico on June 18-19. The report notes that, while there has been significant progress in many countries, some have already missed certain globally agreed implementation deadlines, or haven’t made sufficient progress towards the new Basel III regime, so the Basel III implementation deadline may be a challenge. Bitcoin should face tough capital rules, Basel Committee says Related news Facebook LinkedIn Twitter Keywords Basel Capital AccordCompanies Basel Committee on Banking Supervision James Langton Translating climate risks into financial risks takes work Share this article and your comments with peers on social media It says that draft Basel III regulations have not yet been issued by seven countries: Argentina, Hong Kong, Indonesia, Korea, Russia, Turkey and the US (although this does not include the draft regulations issued by US regulators on June 7). “The majority of these jurisdictions believe they can issue final regulations in time to implement by the deadline of January 2013. However, for others, depending on their domestic rule-making process, meeting the deadline could be a significant challenge,” the report says. The report also notes that of the 29 global systemically important banks, which were identified in November 2011, nine are headquartered in jurisdictions that have not yet fully implemented Basel II and/or Basel 2.5. Preliminary assessments of the domestic rules in the European Union, Japan and the United States have also identified areas of divergence between domestic regulations and the Basel standards, it notes. “The interim findings are subject to further detailed analysis, but this report highlights key areas where domestic implementation may be weaker than the globally agreed standards,” said Stefan Ingves, chairman of the Committee and governor of the Sveriges Riksbank. Another round of assessments, analysing the consistency of risk-weighted assets (RWAs) in the banking book and trading book across banks and jurisdictions, is at the exploratory stage, the report notes. And the Committee indicates this could eventually lead to policy recommendations to deal with potential inconsistencies. Initial assessments of RWAs are due by the end of 2012. The Basel Committee stresses that “full, timely and consistent implementation of Basel III among its members is essential for restoring confidence in the regulatory framework for banks and to help ensure a safe and stable global banking system.” It will provide an updated progress report to G20 finance ministers and central bank governors at their meeting in November 2012, it says. How should banks allocate capital for crypto? read more

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Accoustical Technology Developed At CU-Boulder Helps Make Clean Water

first_img Published: Oct. 31, 1999 Share Share via TwitterShare via FacebookShare via LinkedInShare via E-mail A new University of Colorado at Boulder technology that uses an acoustical device similar to a medical ultrasound probe is providing a promising new technique to inspect the fouling of thin membranes used to purify drinking water. The membranes have pores so small they can let water molecules pass through while excluding unwanted molecules and particulates such as salts, viruses and bacteria, said chemical engineering Professor William Krantz. The technique involves bouncing acoustic waves from the surface of a porous membrane, he said.”The technology allows engineers to determine whether fouling deposits exist on the surface of membranes,” said Krantz, who co-directs the Center for Membrane and Applied Sciences and Technology, or MAST, headquartered in the chemical engineering department. “These fouling deposits must be detected and removed to enable the efficient performance of membranes.”Krantz said that applying acoustical technology to membranes is far more challenging than using it in medical ultrasound analyses. “A doctor might use ultrasound to scan for a walnut-sized organ in your body such as your gall bladder. In this application we need to detect fouling deposits that might have a thickness of only one-10th the diameter of a human hair.” “We need to tackle membrane fouling because it is a critical problem in liquid separations using membranes in cases like the production of drinking water from seawater,” said mechanical engineering Professor Alan Greenberg, who is directing the research in collaboration with Krantz. “We wanted a technique that was non-invasive and non-destructive that we could use in real-time.” The advantage of the acoustical technique is that it is relatively simple and inexpensive, said Greenberg. The team uses an electrical transducer to send high-frequency pulses to the surface of the membrane that bounce back and reveal areas of fouling. By using the technique to determine if fouling deposits are present, it is possible to minimize the chemicals needed and the time required to clean clogged membranes.Greenberg and Krantz, along with co-investigators Guo-Yong Chai and Leonard Bond, have filed a patent on the process. They are working with Jay Dusenbury of the U.S. Army’s Tank and Automotive Research Center’s Petroleum and Water Division in Warren, Mich., to test the acoustical technology.The U.S. military requires large amounts of purified water in land operations in arid regions such as the Mideast, as evidenced by the 1991 Desert Storm conflict. Mobile membrane units towed by tanks or humvees can process up to 100,000 gallons of drinking water per day. “We are excited about the potential of this technology,” said Dusenbury. “From what we have seen so far, it could be of great value in the field when we need to fill these units from rivers, lakes, wells or even the ocean.”MAST is a National Science Foundation Industry/University Cooperative Research Center and the only such center in the United States focused on membrane technology. Some current applications of membrane technology in addition to water purification include environmental restoration and cleaning of water and solvents used in semi-conductor microfabrication, said MAST’s other co-director, chemical engineering Professor Richard Noble. The technology also is used in other industrial and medical fields, including devices like the artificial kidney and membrane lung oxygenator, he said. The center is unique because industry sponsors define research topics, prioritize them and select faculty proposals for funding. Industry sponsors also work closely with faculty and graduate students, Noble said.Since it’s inception, MAST has supported 39 research projects that have led to 20 doctoral degrees and 18 master’s degrees and provided $360,000 in support for 128 undergraduates, including 53 women and 17 minorities, said Noble. Three new undergraduate and graduate membrane science courses have been created, and seven patents and more than $5.5 million in follow-up contracts have resulted from MAST research.last_img read more

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Gary Henry named assistant vice chancellor for research, director of Office of Contracts and Grants

first_imgPublished: April 15, 2021 • By Chris Yankee University of Colorado Boulder Vice Chancellor for Research & Innovation Terri Fiez has announced that Gary Henry has been named the new Assistant Vice Chancellor for Research, Director of the Office of Contracts and Grants (OCG).In his current role as the director of contracts for OCG, Henry leads a team of research and services contracting professionals supporting awards for university colleges and institutes. He serves as the chief negotiator and advisor to the university’s research enterprise on the most complex, high-profile sponsored projects undertaken by university researchers, as well as providing counsel and recommendations to campus leadership with respect to risk and mitigation.“The knowledge, skills and experience Gary has demonstrated during his time with OCG, along with his commitment to CU Boulder’s success, give me the utmost confidence in the OCG of the future,” said Fiez.Henry brings more than 30 years of leadership experience, having served in a variety of proposal development, award management and operational roles with federal agencies, industry, and state government. “I am honored to be selected to lead OCG, serving a great staff and building upon an amazing foundation,” said Henry.Henry will begin serving as acting assistant vice chancellor for research, director of OCG starting May 1, 2021. He will fully assume the position on July 1 when Denitta Ward, who currently serves in the role, retires. Henry’s appointment was the result of a CU system-wide search initiated when Ward’s retirement was announced in January 2021.last_img read more

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