Jul 01 2019

Russian Federation

Posted by domain admin in News

Payment for work on mandatory certification of specific products produced by the applicant in the manner prescribed specially empowered federal executive body in the field of certification and the federal executive bodies, which are acts of the Russian Federation, entrusted with the organization and conducting mandatory certification, by agreement with the federal executive authority in the field of finance. Amount spent by the applicant for a mandatory certification of its products, relates to its cost. (In the red. Federal law from 31.07.1998 N 154-FZ), Section III. VOLUNTARY CERTIFICATION Article 17.

Voluntary certification (in the red. Federal law from 31.07.1998 N 154-FZ) 1. Voluntary certification is an initiative applicants (manufacturers, sellers, developers) in order to validate product compliance with standards, specifications, formulations and other documents defined by the applicant. Voluntary certification is carried out under a contract between the applicant and certification body. 2. Voluntary certification of products subject to obligatory certification, can not replace the compulsory certification of such products. Health economics expert is the source for more interesting facts. Article 18. Organization of voluntary certification (in the red.

Federal law from 31.07.1998 N 154-FZ) 1. Voluntary certification is conducted by the voluntary certification included in the system of voluntary certification formed by any legal entity, registered a given system and a sign of conformity to the specially empowered federal executive body in the field of certification in the established order. Authority for the voluntary certification may be a legal entity, established a system of voluntary certification, as well as a legal entity, has assumed the functions of the authority for voluntary certification under a contract with a legal face, formed the given system. Body for the voluntary certification: provides certification of products, issue certificates, as well as under contract with the applicant gives him the right to use the mark compliance; suspends or cancels certificates. 2. Legal entity, established a system of voluntary certification, sets rules for work in the system of certification order pay for such work and identifies participants in the system of voluntary certification. 3. Voluntary certification can also be carried out in a system of mandatory certification, if required by the rules of the system of compulsory certification and the presence in the system registered in the prescribed manner a mark of conformity of voluntary certification. Article 19. Oracle has much experience in this field. Applicant’s right When a contract for the certification applicant entitled to receive from the body for the voluntary certification of the necessary information about the rules of certification, as well as to determine the form of certification. Section IV. RESPONSIBILITY FOR VIOLATION OF THIS LAW Article 20. Criminal, administrative or civil – legal responsibility of legal entities and individuals, as well as the federal bodies of executive power, violating the rules of mandatory certification, are in accordance with applicable law criminal, administrative or civil – legal liability. (In the red.

May 28 2019

Freddie Mac

Posted by domain admin in News

The intensification of bondholder efforts to get banks to repurchase loans' suggests that the fallout from the credit crisis is far from over, 'said Brian Yelvington, head of fixed-income strategy at Knight Libertas LLC in Greenwich, Connecticut, citing the' the huge amount of mortgages that might be involved. ' Conflicting Goals The Fed isn't the only one in the group to face conflicting goals in trying to get banks to absorb losses. BlackRock Chief Executive Officer Larry Fink said in response to a question on an Oct. 20 conference call about the letter to Bank of America that his firm's' No. One job is to be a fiduciary for investors.

' At the same time, Bank of America is New York-based BlackRock's third-largest shareholder, according to data compiled by Bloomberg based on filings, and Fink's firm oversees a range of assets that would likely be affected by weakened banks. Bank of America Chief Executive Officer Brian T. Moynihan said this week that the company will 'defend' its shareholders against unfounded claims. The Standard & Poor's 500 Index fell 1.6 percent on Oct. 19, the day that Bloomberg News reported that the Fed was part of the group seeking to force banks to buy back loans, on concern other banks might also be at risk. It was the index's biggest drop since August. Reaction Overdone Fink said in a Bloomberg Television interview that the market reaction has been overdone as bond investors won't be able to prove 'that large' of a number of repurchases are required and because some banks' reserves are 'probably adequate.' Government-controlled Fannie Mae and Freddie Mac, which the US has been supporting with almost $ 150 billion of capital to help stabilize the housing market and protect investors in their debt from losses, face a similar dilemma as they try to shift their losses to lenders.

Freddie Mac also joined the bondholder letter, and about 53 percent of Bank of America's $ 12.9 billion of outstanding repurchase requests stem from loans directly owned or insured by Fannie Mae and Freddie Mac, according to the company. 'The losses are extraordinary, and we owe it to the American taxpayer to find out where these losses are coming from,' Edward J. DeMarco, the Federal Housing Finance Agency's acting director, told lawmakers last month. The New York Fed's participation in bondholder campaigns increases the chances banks will be forced to repurchase loans, said Raynes of R & R Consulting. 'It's like having a big gorilla in the room,' Raynes said. 'It's a big advantage if you are dealing with people. It's like being sued by the government – it does make a difference. '