Dutch watchdog warns of liquidity risk from collateral requirements

first_imgDutch pension funds should prioritise setting up frameworks to manage liquidity risk, according to the country’s financial regulator.In its newsletter, it said it had discovered that, in the event of a sharp increase in interest rates, a large number of pension funds would lack the funds to meet counterparty collateral requirements.The watchdog, which examined the investment reports of all 300 pension funds, said it had assumed current swap portfolios would be fully cleared, as required by the European Market Infrastructure Regulation.Pension funds have been exempt from the requirement to conclude their contracts with central counterparties until 16 August 2017. They have opposed mandatory central clearing, as these clearinghouses usually demand cash as collateral.The Dutch regulator warned that non-cleared swap transactions were coming with ever-higher collateral demands.It also argued that currency hedges posed liquidity risk, as a consequence of the often short duration of the swaps and the fact they must also be paid in cash.The regulator said pension funds should prepare for the expiration of the exemption of the central clearing requirements and the changes on the OTC market – by seeking alternatives for non-cleared derivatives, for example.last_img read more

Man nabbed in Roxas drug bust

first_img“Madugay na naton siya gin-paidalum sa surveillance antes gin-conduct ang operation,” Garcia told PanayNews. According to the police, Pelaez was arrested for drug charges in thepast but was released after a plea bargaining agreement. Aside from suspected shabu, P19,500 cash, P500 marked money and drugparaphernalia were also recovered from him, the police added. Police officers staged the entrapment operation which led to the arrestof Pelaez. The suspect was now detained in the lockup cell of the Roxas City policestation, facing charges for violation of Republic Act 9165, or theComprehensive Dangerous Drugs Act of 2002./PN ROXAS City – Sixteen sachets of suspected shabu valued around P30,000were seized in a buy-bust operation in Barangay Inzo Arnaldo, according toLieutenant Mark Anthony Garcia of the Provincial Drug Enforcement Unit here. “Ang estimated street market value sang drugs nga na-recover sa suspectis P30,000,” Garcia said.  Drug suspect Patricio Pelaez sits handcuffed after he was arrested in an entrapment operation in Barangay Inzo Arnaldo, Roxas City, Capiz. GLENN BEUP/PN The 38-year-old resident Patricio Pelaez yielded the suspected illegaldrugs, police said.last_img read more

Messi starts in Barca friendly win as La Liga kicks off

first_img New signing Francisco Trincao, Coutinho, Frenkie de Jong and 19-year-old American international Konrad de la Fuente were among those to come on for the second half. There was no place in the squad for either Luis Suarez or Arturo Vidal, who have both been told they can leave. Barcelona will not play their first La Liga game against Villarreal until round three at the end of the month, having been granted extra time off due to their involvement in last season’s Champions League. Reigning champions Real Madrid, Atletico Madrid and Sevilla are also sitting out the first weekend. But seven games are scheduled this Saturday and Sunday, the first of them finishing goalless between Eibar and Celta Vigo. Lionel Messi started and played 45 minutes in Barcelona’s first pre-season friendly on Saturday night as Ronald Koeman showed no hesitation in reintegrating the Argentinian. Barca beat third tier side Gimnastic Tarragona 3-1, with Ousmane Dembele opening the scoring on his first appearance since November. Antoine Griezmann and Philippe Coutinho, who was also returning after his loan spell at Bayern Munich, then each scored penalties, either side of Javier Bonilla pulling one back for the visitors. Yet his starting front three of Messi, Griezmann and Dembele looked suspiciously like a first-choice attack, with Dembele making his first appearance since he tore his hamstring nine months ago. Koeman also handed starts to youngsters Carles Alena and Pedri in midfield while Jordi Alba, Clement Lenglet, Gerard Pique and Sergi Roberto formed a familiar back four, ahead of Neto, who is standing in for the injured Marc-Andre ter Stegen in goal. Read Also: Leeds are going to cause problems –  Klopp, Van Dijk Still without fans due to the coronavirus pandemic, Spain’s top flight got off to a slow start at Ipurua, where Eibar finished with 10 men after Pape Diop was sent off in the 87th minute. Granada then picked up where they left off last season by defeating Athletic Bilbao 2-0 at Los Carmenes while newly-promoted Cadiz, back in La Liga for the first time in 14 years, lost 2-0 at home to Osasuna. FacebookTwitterWhatsAppEmail分享 But Messi’s return at the Johan Cruyff Stadium was perhaps the biggest plus for Koeman, who was taking charge of his first game since being appointed coach last month. Messi also led the team out wearing the armband after Barcelona had confirmed earlier on Saturday that he will continue as captain this season. Both club and player appear keen to put on a united front, at least for now, ahead of their return to La Liga later this month. After condemning the board last week and admitting he had been forced to stay, Messi arrived early on Monday for his return to pre-season training and worked on the squad’s days off in a bid to catch up.center_img Promoted ContentCouples Who Celebrated Their Union In A Unique, Unforgettable WayWhich Country Is The Most Romantic In The World?2020 Tattoo Trends: Here’s What You’ll See This Year9 Facts You Should Know Before Getting A TattooBest & Worst Celebrity Endorsed Games Ever Made20 Completely Unexpected Facts About ‘The Big Bang Theory’What Happens To Your Brain When You Play Too Much Video Games?7 Facts About Black Holes That Will Blow Your MindTime Playing Video Games Can Have A Detrimental Effect On YouTop 10 Most Populated Cities In The World6 Ridiculous Health Myths That Are Actually TrueWho Is The Most Powerful Woman On Earth? Loading… Koeman, meanwhile, said last month he only wanted players who wanted to be at Barcelona but he was full of praise for Messi on Friday, calling him “the best”, and backed that up in his first team selection. Messi played 45 minutes as part of Koeman’s plan to field two different line-ups in each half.last_img read more

Crash on I-65 leaves one man dead, passenger in stable condition

first_imgEdinburgh, IN— Early Sunday, emergency crews were dispatched to I-65 northbound near the 82-mile marker in Shelby County for reports of a single vehicle crash. Around 2:45 a.m. 911 calls began coming in about a vehicle off the roadway and both occupants were severely injured. Shelby County Sheriff Deputies along with medics were first on the scene, they immediately summoned a medical helicopter.Despite life-saving efforts, 41-year-old Kenneth Cubbage Jr. of Freetown Indiana was pronounced deceased at the scene. His mother, 62-year-old Connie Cubbage was a passenger in the vehicle, she was transported to Methodist Hospital by ambulance in stable condition.The investigating officer, Trooper Aaron Smith, is still unsure why the vehicle left the roadway, but evidence at the scene indicates the vehicle hit a tree and rolled several times. The driver, Mr. Cubbage Jr. was wearing a seat belt, however, the passenger was unrestrained. The Shelby County Coroner’s Office responded to the scene and recovered the remains of the deceased. Both directions of I-65 were closed for a brief time, the northbound lanes were affected for approximately two hours while the crash was investigated and the wreckage was removed.last_img read more

Rebel with a cause at Killarney

first_imgTrainer Mick Winters is keeping his fingers crossed ground conditions at Killarney will be suitable for Rebel Fitz as he prepares to make his third appearance over fences on Tuesday evening. Press Association Last summer’s Galway Hurdle hero is rated 155 over timber, having claimed six victories from 13 starts. He suffered an odds-on reverse on his fencing debut at Killarney in mid-May, but righted that wrong with a comfortable triumph at Ballinrobe later that month. The eight-year-old now steps up to two and three-quarter miles for the Christy McSweeney Memorial Novice Chase. center_img Winters said: “I’ve walked the track and they’ve done a good job watering the ground, but we still wouldn’t mind a drop of rain. Hopefully it’s all right as we’d like to run him. He seems in grand form. I’m very happy with him.” Rebel Fitz will qualify for a handicap mark after his third chase start, with Winters having previously mentioned a possible tilt at the Galway Plate after his Ballinrobe success. However, he is keen to see how he is assessed by the handicapper before committing his charge to the Ballybrit feature. “We’ll take it one step at a time and see what sort of rating he gets. It’s a possible, but we’ll play it be ear,” said the County Cork-based trainer. Barry Geraghty will be in the saddle as Rebel Fitz faces seven rivals. Jessica Harrington saddles the hat-trick-seeking Beachdale Lad, while other contenders include Novarov and Toner D’Oudairies. Trainer Gordon Elliott said of the latter: “It’s a competitive race, so if he runs a good race we’ll be happy. He seems to be well.” last_img read more

Hughes: We’re no pushovers

first_imgStoke boss Mark Hughes has warned Swansea counterpart Michael Laudrup to underestimate the Potters at his peril on Sunday. “We’ve gone through a difficult period in terms of the opposition we have been up against, and now it’s time for us to put more points on the board.” Hughes does appreciate that reinforcements may be required come the opening of the January transfer window, notably in attack as Stoke have scored just seven goals in their 10 league games to date. “I’ve said from the start of the season I feel the capability of the players I have here is good,” said Hughes. “They’re lacking in terms of goals, which hasn’t really been resolved because I said in the summer I was looking for a striker and we were unable to bring one in. “We’ll keep looking, and if good players become available and we can go into the market and attract them then we’ll try and do that. “The only problem is January isn’t a great window because invariably you have to pay over the odds because teams don’t particularly want their good players to leave. “If we are to improve the group we have to buy good players and they come at a premium, so it’s not easy to get the players you want at the price you want. “So we shouldn’t put all our eggs in the January basket because we’ve enough players here to get the job done this season even if we aren’t able to bring good players to the club.” For the clash with Swansea Hughes has doubts over midfielders Glenn Whelan (hamstring) and Jon Walters (thigh), along with defender Erik Pieters (back). On the back of a seven-match winless run, and with Hughes attempting to still get his ideas across after taking over from Tony Pulis in the summer, Laudrup may consider this an ideal time to play Stoke. That would especially be the case with the Swans looking to bounce back from a south Wales derby defeat to Cardiff last Sunday, and in the wake of a long European trip to Russia given their Europa League clash on Thursday against Kuban Krasnodar. Press Association “Other clubs might be thinking it’s a good time to play us if they haven’t done their homework and haven’t looked at each and every game we’ve played and the way we’ve played,” said Hughes. “If they look solely at the stat that we haven’t won in seven games then people would probably assume it’s a good time to play us and that we are a struggling side. “But if you actually look at how we’ve played, certainly in away games in recent times such as Fulham and Manchester United – where everybody and his dog thought we should have got something from that – then you wouldn’t come to that conclusion.” Hughes, however, recognises in claiming just three points from the seven games – which has seen Stoke slide to 17th in the table and a point above the relegation zone – a victory is vital, even if he can have no complaints with the way his players have been performing. “It’s still early days, we’re only 10 games into the season and we’re trying to change things,” added Hughes. “We feel there is an opportunity, with the group I’ve got now and the capabilities of the group, to play a little more football, and we’ve shown that on many occasions this season. “We obviously have to align performances with results, and I’m convinced that will happen. “On very few occasions they’ve disappointed me, for the most part we’ve been okay. last_img read more

Aston upbeat ahead of Euros

first_img Press Association The side will be led by Leigh forward Bob Beswick, who will match Finn’s record of 19 caps, while France will begin a new era following the retirement of regulars Thomas Bosc, Olivier Elima and Gregory Mounis under the captaincy of Jason Baitieri. “Following on from the World Cup, it is probably a slight disappointment that the teams aren’t going to be as strong as the ones which took the field last year,” French coach Richard Agar said. “You lose that continuity and momentum that you build up but, at the same time, I think it gives the new breed of players an opportunity, certainly in France’s case. “We are losing some experienced players who have been representing France for six, seven and, in some cases, 10 years. “They’re not going to be back so one of the themes that our guys have picked up and run with is the fact that this is a new generation of players. “The prize at the end of the day for those guys is to cement their place within the international set-up with the prospect of playing in a Four Nations at the end of it as well.” Fifteen of Agar’s 18-man squad are past or present Catalan players, with Toulouse gainly belated recognition through the late call-up of veteran forward Aaron Wood and young winger Tony Maurel. Ireland (from): M Hadden (Antrim), C Dunne (Athboy), Mikey Russell (Barnhall), S Hesketh (Batley), W Kelly (Belfast Met Scholars), H Peacock (Carcassonne), J Murphy (Dewsbury), L Ambler, C Casey, B Johnston (all Halifax), E Cosgrove (Keighley), R Mulhern (Leeds), B Beswick (capt), M Platt (both Leigh), J Toole (North Sydney), C Mulkeen (Oxford), S McDonnell (St Helens), G O’Keeffe (Treaty City), W Hope (unattached), B Hargreaves (Wigan St Patricks). France (from): J Baitieri (capt), J Bousquet, D Cardace, B Garcia, A Maria, E Pelissier (all Catalan Dragons), K Larroyer (Hull KR), J Fakir (Lezignan), R Marginet, F Vaccari (Palau), T Fages (Salford), J-P Baile, W Barthau, T Margalet, M Pala, M Simon (St Estève), T Maurel, A Wood (Toulouse). Ireland will be cast in the familiar role of underdogs when they launch their European Championship campaign against France in Dublin on Saturday afternoon, but this time they are not without hope. The Wolfhounds found themselves up against big guns Australia, England and Fiji in the 2013 World Cup and, not surprisingly, lost all three group matches. “We learned a lot from that,” Ireland coach Mark Aston said. “When you play against Australia and England there is always that little bit of doubt about whether we’d be able to compete. “But we will go into every game this year thinking we can win and that’s important.” The matches against the French, Scotland and Wales should provide a more level playing field and, with a place in the 2016 Four Nations Series as well as automatic qualification for the 2017 World Cup at stake, there is no shortage of incentive. The Irish secured home advantage for two of their matches from the open draw and Scotland will be the visitors to Dublin’s Tallaght Stadium next Saturday before Aston’s men bring down the curtain on the tournament against the Welsh in Wrexham on Sunday, November 2. Without most of the big games from the World Cup, including skipper Liam Finn who has joined the backroom staff after succumbing to injury, Aston has been forced to bolster his squad with players from Ireland’s fledgling domestic league, a strictly amateur competition. “It’s tough because the funding’s been taken away from Ireland and Scotland so there’s no full-time staff,” Aston said. “It’s all volunteers who are doing some good work and it’s coming on, but it’s slow and it’s always going to be slow when you haven’t got the resources. “But we’re not going to get hung up about it, we’ll give it a good shot and we’ll enjoy ourselves. “We’ve included five domestic players in the 20-man squad and two have got to play, so there’s something for those people playing in the Irish domestic competition to aspire to.” last_img read more

Foxes safe after goalless draw

first_imgNigel Pearson completed his Barclays Premier League rescue mission as Leicester ended their fears of the drop with a 0-0 draw at Sunderland. On an afternoon of few clear-cut chances, the home side enjoyed the better of them in front of a crowd of 46,705 at the Stadium of Light, but failed to work City keeper Kasper Schmeichel hard enough to extend their run of victories to three. However, opposite number Costel Pantilimon enjoyed an equally uneventful afternoon and both Pearson and Dick Advocaat had to make do with a point, an eminently more satisfactory return for the former. The game represented a meeting of two of the in-from sides in the lower reaches of the table with Sunderland having won their last two and the Foxes looking for a seventh victory in eight attempts to cement a remarkable turnaround in their fortunes. Predictably, it unfolded in robust fashion with both teams trying to press the ball and giving no quarter in the search for tangible reward. Advocaat’s men started the brighter and might have taken a seventh-minute lead had Schmeichel not got down smartly to his right to turn Sebastian Larsson’s dipping free-kick around the post. However, Leonardo Ulloa was only just unable to reach the ball after Marc Albrighton headed Esteban Cambiasso’s cross back across goal two minutes later, and Wes Morgan headed tamely at Pantilimon from Albrighton’s 15th-minute cross. But as the half wore on, it became increasingly scrappy with neither team able to exercise any measure of control and Black Cats midfield duo Liam Bridcutt and Lee Cattermole went into referee Martin Atkinson’s notebook as the battle intensified. The home side were enjoying the better of open play with front three Danny Graham, Jermain Defoe and Connor Wickham all lively, and Graham saw a close-range 24th-minute shot beaten away by Schmeichel. Press Association The hard-fought point the Foxes collected on Wearside extended their haul to 19 from the last 24 on offer and that, coupled with Hull’s defeat at Tottenham, ensured they can relax going into the final week of the campaign. For Sunderland, however, the wait goes on, although they need a maximum of just one point from trips to Arsenal and Chelsea to be mathematically assured of their place in the top flight next season, although defeat for the Tigers by Manchester United next weekend will do the job for them. But with midfielder Riyad Mahrez starting to make his presence felt, City gradually worked their way into the game, although they exerted the greatest pressure from set-pieces without ever actually troubling Pantilimon. Sunderland full-back Patrick van Aanholt was relieved to see Ulloa’s back-heel from Mahrez’s 47th-minute cross loop off him and over his own crossbar as Leicester resumed in determined fashion. But the home side responded and full-back Billy Jones drilled a cross just over Wickham’s head after a determined run past Jeff Schlupp down the visitors’ left. As news of goals from Loftus Road and White Hart Lane filtered through, the temperature rose at the Stadium of light and with Adam Johnson having replaced the more defensive Bridcutt, Sunderland full-back Van Aanholt whistled a 62nd-minute shot across the face of goal. Johnson tested Schmeichel at his near post with a well-struck shot 18 minutes from time, but as time ran down, the tension began to kick in once again. Cambiasso was handed a chance to put Pantilimon’s goal under pressure with 10 minutes left on the clock, but his free-kick flew high and wide, and substitute Steven Fletcher glanced a header just wide from Johnson’s 84th-minute free-kick as the deadlock remained unbroken. Foxes substitute Andrej Kramaric might have won it deep into injury time when he capitalised on a mix-up between skipper John O’Shea and Pantilimon, but with the goal at his mercy, he could not find the target. last_img read more

Family, friends have Lambo’s back

first_imgMany sport the barbed wire around the bicep for the bad-ass look. Others opt for the four-leaf clover for luck. What is Wisconsin men’s soccer defender Zack Lambo’s motivational tattoo, you might ask? Well, the answer may surprise you: The 5-foot-10, 170-pound sophomore has the majority of his back tattooed with an homage to past loved ones and proud emblems of his heritage.”Almost my whole back is covered in tattoos,” Lambo said. “They all have to do with my family and friends.”While his artistic back may intrigue many people, it is the defending maestro’s left foot that has caught the attention of opposing teams this season.Phrases like “textbook service,” “on-a-dime accuracy” and “pinpoint crossing” often come to mind when Lambo tees up and strikes a ball. While one has undoubtedly heard of the potential of David Beckham’s right foot, the similar prowess of Lambo’s left has not been as well-documented.”He’s got a great shot from distance, he serves a good ball and he’s a great passer,” Wisconsin head coach Jeff Rohrman said of Lambo. “You know, he brings a very polished left foot, and he’s done a tremendous job for us so far this year … he’s just been a terrific addition to our defense.”While Beckham’s success has come with the advantage of playing in the attacking midfield, Lambo has become the co-leader in points for the Badgers from his position at left back. With nine points from three goals and three assists, the phenom is proof that great defenders can get into the offensive mix with a little discipline.”He can get into the attack even though he’s a left back — especially in a four-back system,” Rohrman said. “He’s got to pick and choose his times when he can get forward, but, obviously, he can certainly make things happen for us in the offensive third.”When asked about his play on the field, Lambo claims his best attributes are probably his ability to think quickly and his free-kick skills.”I think my decision-making has definitely gotten a lot better,” Lambo said. “My communication on the field — just getting more comfortable with the guys after being around them for two years — has definitely improved. I think my free kicks, my dead balls, have also gotten better … I’ve gotten a lot more practice, a lot more reps with those.”Off the field, Lambo is an easy-going, very likeable character who has adapted well with the rest of his teammates over the course of two years.”He’s become more comfortable and he’s opened up more, just being in that second year,” Rohrman said. “He brings a lot of good leadership qualities, and he’s become accustomed to what we’re trying to do with the other players. We’re just seeing a lot more of his personality come out, which is good, because he’s got a great personality.”In addition to Lambo’s sparkling personality, the free-kick specialist has also presented a sense of maturity and responsibility envied by most people.”He’s a very mature young man,” Rohrman said. “He certainly takes pride in taking care of all of the things in his life — be it his academics or his soccer or his family.”The pride Lambo’s tattoos display is clear evidence of his respect for his close friends and family members.”On my upper back, I have an angel which is my grandma,” Lambo said. “There [are] clouds around her feet and [the clouds] have two initials in them, and those are my two friends who died in a car crash. I have all my friends and family who die — their initials — in the clouds, and it’s kind of like they’re watching over me.”In regard to his familial pride, Lambo’s tattoos do the talking.”On each shoulder blade, I have ‘Dad’ in Macedonian — his heritage — and ‘Mom’ in Ukranian on the other side, because that’s her background. Then, across my lower back, I have ‘Lambo’ in Macedonian.”Regardless of whether Lambo leads his team to a Big Ten championship this season, one thing is certain: His family and friends have always got his back.last_img read more