Anonymous ID: e2661d Jan. 20, 2021, 12:20 p.m. No.45795   🗄️.is đź”—kun   >>5821 >>6048

Libor Overhaul Gets Boost in Cuomo Bid to Avert Transition Chaos

 

New York Governor Andrew Cuomo has proposed legislation that would help prevent hundreds of billions of dollars of financial contracts from descending into chaos when the London interbank offered rate expires.

 

Provisions to help troublesome Libor-linked contracts switch to replacement rates are contained in Cuomo’s state budget plan, which was published on Tuesday. Bankers, investors and regulators see such proposals as crucial to ensuring that a large swath of the global financial system isn’t disrupted.

 

Various tenors of dollar Libor may be given a reprieve until mid-2023, in part to allow legacy contracts that lack a clear replacement rate die off naturally. While that would help reduce the threat to financial stability, the most challenging floating-rate debt and securitizations as well as Libor-based mortgages and student loans will run on past the new deadline, making legislation critical. As home to the world’s biggest financial center, much of the debt falls under New York law.

 

“This legislative proposal is essential in order to provide legal certainty and minimize the adverse economic impacts for legacy Libor contracts,” said Tom Wipf, vice chairman of institutional securities at Morgan Stanley and chairman of the Alternative Reference Rates Committee, the Federal Reserve-backed body guiding the transition. The governor’s decision to include it in his budget plan “marks notable progress,” he said.

 

The bill would allow contracts to instead use the replacement rate recommended by the Fed Board, New York Fed, or the ARRC. The proposal includes language providing some safety measures, allowing the use of the replacement rate only in situations where it is reasonable and comparable to Libor.

 

The replacement benchmark should not “prejudice, impair, or affect any person’s rights or obligations under or in respect of any contract, security or instrument,” according to the bill language.

 

Policy is often negotiated alongside fiscal plans in the New York state budget process, which is kicked off by the governor. The final budget deal is due by March 31, the end of the state’s fiscal year. The Libor discontinuation legislation would take effect immediately after the passage of the budget, according to the bill language.

 

“It’s an important first step,” said Priya Misra, head of global rates strategy at TD Securities in New York, and also a member of the ARRC. “Hopefully it passes in the New York legislature and then can become a template for other states, too.”

https://www.bnnbloomberg.ca/libor-overhaul-gets-boost-in-cuomo-bid-to-avert-transition-chaos-1.1551380

Anonymous ID: e2661d Jan. 20, 2021, 12:54 p.m. No.45803   🗄️.is đź”—kun   >>5804 >>5821 >>5823 >>6048

How to get a free bag of marijuana with the COVID-19 vaccine

 

Get stuck and take a puff.

 

Cannabis activist group DC Marijuana Justice plans to offer weed gift bags to those who get the COVID-19 vaccine in the nation’s capital, the organization has announced.

 

“We are looking for ways to safely celebrate the end of the pandemic and we know nothing brings people together like cannabis,” wrote DCMJ co-founder Nikoas Schiller in a press release for the initiative, dubbed “Joints for Jabs.”

 

The group plans to hand out free ganja baggies at Washington, DC, vaccination sites, both to commemorate what is hopefully the beginning of the end of the coronavirus pandemic and as advocacy for both reefer and getting vaccinated.

 

“To celebrate this momentous occasion and thank people for getting vaccinated, dozens of DC homegrowers will lawfully distribute free bags of cannabis outside vaccination centers as soon as the general public is able to get vaccinated,” the release says, further quoting Schiller as saying, “When enough adults are inoculated with the coronavirus vaccine, it will be time to celebrate — not just the end of the pandemic, but the beginning of the end of cannabis prohibition in the United States.” DC’s Department of Health has not yet named the public vaccination sites, but DCMJ says they will release further details once those addresses and hours of operation have been made public. In the meantime, local growers have already pledged three pounds of cannabis for the giveaway, and DCMJ hopes to have a total of five pounds by the time they begin offering them to freshly vaccinated members of the public, DCist reported.

 

The organizers plan to distribute loose cannabis, as opposed to pre-rolled joints. Handing out free joints, they learned after doing as much during President Trump’s 2017 inauguration, leads to people smoking them on site and violating city law, in addition to being problematic to pandemic health protocol.

 

“Four years ago, we handed out over 10,000 joints — and we licked those joints,” DCMJ co-founder Adam Eidinger told DCist. “Today, we think that’s an issue.”

 

Baggie recipients might consider passing off their dank freebie to those currently suffering from the coronavirus, as a recent study found that cannabis extracts could possibly reduce the risk of dying from COVID-19. Researchers at the University of Lethbridge in Canada reported that the human body’s often fatal “cytokine storm” — during which the malfunctioning immune system attacks itself — was calmed by using three promising strains of sativa plants.

https://nypost.com/2021/01/18/how-to-get-a-free-bag-of-weed-with-your-covid-19-vaccine/

Anonymous ID: e2661d Jan. 20, 2021, 2:23 p.m. No.45857   🗄️.is đź”—kun   >>6048

SAM43 USAF G5 on descent towards Port Charlotte-

Was not in a particular hurry and got to 45k feet earlier

RCH712T departed Palm Beach Int'l and RCH709T heading to for another load.

VVLL837 US Navy P-8 Poseiden from Jax sw

Anonymous ID: e2661d Jan. 20, 2021, 2:31 p.m. No.45870   🗄️.is đź”—kun   >>6048

SAM48 USAF C-40B departed Columbus, IN after dropping off the Pences.

SCORE72 US Navy Hawkeye over Chesapeake Bay

 

Mike Pence returns to Indiana

Vice President Mike Pence and Second Lady Karen returned to Indiana Wednesday. The Pences landed in Columbus around 2:45 p.m. before they both addressed the crowd. While addressing the crowd of supporters, the former vice president announced he and his wife will be moving back to Indiana this summer.

moar

https://www.whas11.com/article/news/local/pence-return-indiana/531-6ba4910d-202c-420e-a2f7-658f3647668c