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This report outlines the progress made by banks in implementing the Basel Committee's Principles for effective risk data aggregation and risk reporting ("the Principles" or "BCBS 239")1 based on supervisors' assessments conducted in 2019.

Introductory statement by Ms Christine Lagarde, President of the European Central Bank, and Mr Luis de Guindos, Vice-President of the European Central Bank, Frankfurt am Main, 30 April 2020.

Advanced preliminary release for Q4 2019 quarterly data on total credit to the non-financial sectors; comprising private non-financial sector and general government for 44 economies and regional aggregates have been updated. Data are available for the following borrowing subsectors: general government, private non-financial sector (series on credit from domestic banks as lending sector are also available), non-financial corporations and households. Data are presented in three versions: in billions of local currency and US dollars, and as a percentage of GDP.

Advanced preliminary release for Q4 2019 quarterly data on debt service ratios (DSRs) for the private non-financial sector (PNFS) for 32 countries have been updated. DSRs for PNFS breakdown sectors, ie for households and for non-financial corporations are also available for 17 countries.

BCBS Press release "Basel Committee publishes stocktake report on climate-related financial risk initiatives'", 30 April 2020

This report summarises the main results of a stocktake conducted by the Basel Committee of its members' initiatives on climate-related financial risks.

We develop a parsimonious model to study the effect of regulations aimed at reducing counterparty risk on the structure of over-the-counter securities markets. We find that such regulations promote entry of dealers, thus fostering competition and lowering spreads. Greater competition, however, has an indirect negative effect on market-making profitability.

Are financial intermediaries inherently unstable and, if so, why? To address this, we analyse whether model economies with financial intermediation are particularly prone to multiple, cyclic or stochastic equilibria.

We document that corporate pension contributions respond to tax-based incentives using the 2017 Tax Cut & Jobs Act (TCJA) as a natural experiment. The TCJA cut the U.S. federal corporate tax rate, temporarily increasing contribution incentives for sponsors of defined-benefit retirement plans. We exploit cross-sectional variation in ex-ante exposure to these incentives.

Bank of Italy Working Papers by Giorgio Albareto, Andrea Cardillo, Andrea Hamaui and Giuseppe Marinelli

Bank of Italy Working Papers by Andrea Gazzani and Alejandro Vicondoa

Bank of Italy Working Papers by Eleonora Porreca and Alfonso Rosolia

Bank for International Settlements BIS Working Papers by Claudio Borio, Marc Farag and Nikola Tarashev

Bank of Finland Research Discussion Papers by Gene Ambrocio

Bank of Finland Research Discussion Papers by Eleonora Granziera and Markus Sihvonen

Bank of Finland Research Discussion Papers by Gonçalo Faria and Fabio Verona

Bank of England Working Papers by Cristiano Cantore and Lukas Freund

Netherlands Bank DNB Occasional Studies by Peter Wierts and Harro Boven

Bank for International Settlements BIS Working Papers by Francesca Carapella and Cyril Monnet

European Systemic Risk Board Occasional Papers by Greg Ros

Central Bank of Chile Working Papers by Carlos Madeira

Central Bank of Chile Working Papers by Gee Hee Hong, Matthew Klepacz, Ernesto Pasten and Raphael Schoenle

The 2020 Special Olympics Summer Games, slated for June 11 to 13, are being canceled due to concerns related to coronavirus. The games will shift to virtual events, with details to be announced in the near future.

On the fourth day of NCAA Division III Week on Thursday, April 16, the Allegheny Mountain Collegiate Conference released its All-Sportsmanship teams for winter and spring sports. Between winter and spring sports, a total of nine Penn State Altoona student-athletes were selected as representatives to the teams.

Apple's higher-end 13-inch MacBook Pros are equipped to take advantage of 87W power adapters, though users won't see any charging speed benefits from the change.

Apple's latest iOS 13.5 beta release includes a new Health app feature that allows iPhone and Apple Watch users to automatically send Medical ID information to first responders.

Brydge on Wednesday launched a new update to improve its Brydge Pro+ keyboard with trackpad that recently starting shipping for iPad Pro. AppleInsider goes hands-on with the latest firmware to see how Brydge's improvements have strengthened the user experience of its flagship product.

Apple's first product to integrate Mini LED display technology might see a later-than-expected launch timeline due to setbacks caused by the coronavirus pandemic, according to new research from TF Securities analyst Ming-Chi Kuo.

Instead of every meeting attendee staring at a flat Zoom screen, Apple is looking to the future of video conferencing with Memoji-style avatars arranged in augmented reality around each meeting attendee.

Several European countries, including Switzerland and Germany, are demanding all user data generated by coronavirus contact tracing apps be stored on-device, rather than aggregated on a centralized server.

B&H Photo has just issued an exclusive discount on Apple's MacBook Air (2019), dropping the price down to a record low $849 with free expedited shipping for AppleInsider readers. Inventory is limited, and this deal may sell out at any time.

Following in the footsteps of Apple Card, and in the shadow of a rumored debit card solution from Google, Samsung on Thursday announced plans to field a physical debit card product in partnership with finance company SoFi.

Apple has now launched a new shop front online which is expressly for making it easier to buy, and get technical help, from home.

Apple has refreshed the 13-inch MacBook Pro with Magic Keyboard, the start of Apple's online WWDC has been announced, the iPad Pro Smart Keyboard gets a teardown, and your hosts provide a massive roundup of HomeKit and smart home devices.

Before Monday's 13-inch MacBook Pro update, the choice between the 2019 model and the 2020 MacBook Air was very clear. It is less clear today -- but we can help.

OM Montenegro has discovered that if they are faithful and patient, they can eventually walk through doors that had once seemed closed.

Washington, D.C. Newsroom, May 7, 2020 / 07:55 am (CNA).- Pope Francis has accepted the resignation of Bishop Joseph Binzer, Cincinnati's auxiliary bishop, who was accused in August of failing to act on allegations made against a priest. 

A statement from the Holy See press office May 7 said the pope had accepted the 65-year-old bishop’s resignation but gave no reason for the decision. 

In a statement released by the Archdiocese of Cincinnati, Archbishop Dennis Schnurr said the pope accepted Binzer’s resignation after conversations between the bishop and the Holy See. 

The archdiocese also included a brief statement from Binzer in which he said he was “deeply sorry for my role in addressing the concerns raised about Father Drew, which has had a negative impact on the trust and faith of the people of the Archdiocese of Cincinnati.”  

“In April, having studied this matter since last summer, the Holy See informed me that it agreed with this assessment. As a result, and after much prayer and reflection, I offered my resignation from the Office of Auxiliary Bishop of the Archdiocese of Cincinnati,” said Binzer. ”I believe this to be in the best interest of the archdiocese.”

Archbishop Schnurr said that although retired, Binzer will continue to serve in the archdiocese with the title of “Auxiliary Bishop Emeritus.” 

“What exactly that ministry will look like will be determined after discussions between Bishop Binzer, the Priest Personnel Board, and me,” Schnurr said. “In this difficult and unfortunate time, please keep Bishop Binzer and all the people of the archdiocese in your prayers.”

Archbishop Schnurr removed Binzer from his position as head of priest personnel in August, after CNA presented officials with its investigation into claims that Binzer failed to pass on reports that a priest had engaged in inappropriate behavior with teenage boys.

In August last year, Schnurr told CNA that “We obviously made serious mistakes in our handling of this matter, for which we are very sorry.”

While Schnurr’s public comments did not address Binzer’s role directly, senior sources in the archdiocese told CNA in August that Schnurr had “gone nuclear” when he discovered the situation.

“The archbishop was as mad as I have ever seen him. When he was told that Bishop Binzer had withheld information, well, he used words I have never heard him use before,” one senior source told CNA, saying Schnurr called Binzer’s actions a “firestorm” for the archdiocese.

In September, 2019, an archdiocesan spokesperson told CNA that Schnurr had sent a "full report to Rome on the whole case and he is waiting for the Vatican’s response,” and he expected "a full investigation” to be conducted by the Vatican.

Binzer later resigned as a member of the U.S. bishops’ conference committee for the protection of children and young people, on which he represented Region VI.

CNA reported in August last year that Binzer was told in 2013 about allegations concerning a recently suspended priest, Fr. Geoff Drew, and failed to disclose them to Cincinnati Archbishop Dennis Schnurr and other archdiocesan officials.

While the archdiocesan victims’ assistance coordinator, who reported to Binzer, was aware of the allegation, the information was not made known to the diocesan priest personnel board or Archbishop Schnurr. 

In 2015, similar allegations were again made against Drew. The matter was forwarded to Butler County officials, who determined that the activity was not criminal. Again, Binzer reported neither the complaints nor the investigation to the archbishop or informed the priest personnel board.

Sources in the archdiocesan chancery told CNA in August that Binzer met with Drew twice, was assured by him that he would reform his conduct, and considered this sufficient.

In early 2018, Drew applied for a transfer to St. Ignatius of Loyola Parish in Green Township, which is attached to the largest Catholic school in the archdiocese.

As head of priest personnel, Binzer was in charge of the process that considers requests and proposals for reassignment, in conjunction with the priest personnel board.

Neither the board nor the archbishop were made aware of the multiple complaints against Drew, and the transfer was approved.

The allegations were also reportedly not recorded by Binzer in the priest’s personnel file that would have been available to the archdiocesan personnel board as part of the process.

A month after Drew’s arrival at St. Ignatius, a parishioner at Drew’s former parish resubmitted the 2015 complaints about the priest, but this time it was also brought to the attention of Archbishop Schnurr.

Also in 2018, Binzer received an additional complaint of similarly inappropriate contact by Drew, dating to his time as a high school music teacher, before his ordination as a priest. 

Following a diocesan investigation, Drew was ordered to attend counselling with a psychologist.

On July 23, Drew was removed from ministry, when it emerged that he had sent a series of inappropriate text messages to a 17-year-old. 

Chancery sources told CNA in August that it was only after the recent incident at St. Ignatius that archdiocesan officials discovered that the otherwise undisclosed complaints about Drew had been made to Binzer, and that the auxiliary bishop had failed to report them to other diocesan officials, or raise them during the decision to approve his transfer in 2018.

Washington, D.C. Newsroom, May 8, 2020 / 03:10 pm (CNA).- The Diocese of Springfield, Illinois, said that the Church must return to “normal life” after the governor announced plans to ban large gatherings until a COVID-19 vaccine or treatment is available.

Earlier in the week, the state’s Governor JB Pritzker unveiled a five-phase “Restore Illinois” plan that bans gatherings of more than 50 people until a vaccine or treatment is available, or the virus has stopped spreading for a sustained period of time. Health officials have said that a vaccine for the new coronavirus (COVID-19) might not be available for 12 to 18 months. 

Currently, people in the state are allowed to attend religious services of 10 or fewer people, but no gatherings of more than 10 people are permitted until phase 4 of Pritzker’s plan, and the state wouldn’t even be able to “advance” to phase 3 until May 29.

“The Church has certainly done her part in making great sacrifices to slow the spread of this virus,” Andrew Hansen, director of communications for the diocese of Springfield, Illinois, told CNA on Friday.

“That said, the Church must return to her normal life of liturgy and communal worship,” Hansen said, while emphasizing precautions such as social distancing “will likely be the appropriate path longer term for the return to some version of normalcy for the Church.”

Previously, in-person or drive-in religious services were banned in the state. The Thomas More Society filed a lawsuit on behalf of a church in Lena, Ill., on April 30. Later that evening a paragraph was added to the governor’s executive order allowing for people to leave their homes to attend religious services of ten or fewer people, the society’s president Peter Breen told CNA.

The next day, May 1, the archdiocese of Chicago announced it would be resuming public Masses with 10 or fewer people.

According to the “Restore Illinois” plan, there could not be any gathering of between 11 and 50 people in size until phase 4 of the plan—“Revitalization.”

That phase can start only when certain conditions have been met: the positivity rate of COVID tests is at or under 20% and doesn’t rise by more than 10 points over 14 days; hospital admissions don’t increase for 28 days; and hospitals have at least 14% “surge capacity” in ICU beds, medical and surgical beds, and ventilators.

Pitzker clarified in a Wednesday press conference that religious services would be part of this 50-person limit in phase 4, and schools would not be allowed to reopen until then, raising questions of how tuition-dependent Catholic schools might fare in the fall if remote learning is still widely utilized.

The state’s superintendent of education has said that at least some schools might have to begin the new school year with remote learning, or with students attending classes in-person only on certain days.

“So we continue to hope and pray schools will reopen next school year. Certainly, when our schools reopen, new measures and precautions will be in place,” Hansen told CNA.

The president of DePaul University, located in Chicago, announced earlier this week that the university already plans to “minimize our footprint on campus this fall,” and that an announcement of the fall plans could happen by June 15.

SOLIDWORKS Image Quality settings have the biggest impact on file size and system performance. We always assumed that it would have an impact on overall performance also. The effect varies widely across different files, so we decided to do SOLIDWORKS

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SOLIDWORKS Multibody Part Assembly An Exploded View is used to communicate your design or drawings in a more proper and precise way. It really helps to clearly understand the sequential order of the assembly. Moreover, the exploded view is used

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What if you needed to pull a cross-section of a solid with the ability to trace it? Well there are a couple of ways you can go about doing just that. The first is the Slicing tool which first made

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All, As we’ve written before, Dassault Systèmes SOLIDWORKS is committed to helping our customers be the most productive while working from home during this time of social distancing. Right now, it’s not possible to grab a drawing from the plotter or

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Everyone knows SOLIDWORKS is very flexible and user friendly to execute the commands to complete any 3D design easily. When it comes to handling Complex assemblies (Increased in number of components) many of us will search for special tools to

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