State Treasury to Invest in Vermont Banks

first_imgThe Vermont State Treasurers Office has unveiled an initiative to invest a significant portion of Vermonts short-term cash in Vermont Banks. Currently, such funds are invested primarily in government agency securities, high quality corporate commercial paper, and money market accounts at large financial institutions. The new Treasurers Bank in Vermont Program is consistent with an ongoing effort by State Treasurer Jeb Spaulding to support Vermont-based financial institutions when acceptable rates of return can be achieved.According to Treasurer Spaulding, We are inviting banks to participate in a certificate of deposit (CD) program designed to support community banking, while earning a competitive return on State funds. We will invest on a predictable basis, via a competitive bidding process, in banks with branches in Vermont. The program is designed to be attractive to a wide range of banking institutions and is predicated on the belief that investing Vermont funds in Vermont, consistent with earning a competitive rate of return, is a good policy.Banks will be pre-approved by the Office of the State Treasurer for maximum levels of investment based on a bank’s size and other factors. In addition, participating banks must have at least a satisfactory rating under the federal Community Reinvestment Act of 1977. State funds will be available for bid in various maturities, based on State cash flow projections and projected interest rates. Participating banks will submit bids through the Internet and/or e-mail. The Office of the State Treasurer will award CDs based on rank order of quoted rates and associated dollar levels until the funds are depleted for each scheduled bidding period.Chris D’Elia, Executive Director of the Vermont Bankers Association, reacted to Spauldings initiative positively. “Vermont’s banking community welcomes the opportunity to work with the Treasurer’s Office on implementing this new program. This effort will keep investment funds within Vermont, thus allowing them to be utilized to encourage new economic activity, he said.Kenneth Perine, President of the National Bank of Middlebury, explained his support of the Bank in Vermont Program by saying, I am pleased to see efforts that recognize Vermonts banking institutions as a viable alternative for State of Vermont investments, and am pleased by Treasurer Spauldings effort to reach out to Vermont bankers in designing this program.Other examples of Treasurer Spauldings commitment to supporting Vermont institutions include investments in the Vermont Community Loan Fund and the Vermont Development Credit Union. In addition, the three investment firms used by the Treasurers Office to manage longer-term funds are all based in Vermont. They are National Life Capital Management, Hanson Investment Management, and Prentiss Smith & Company.last_img read more

Brisbane rents rising faster than other mainland capitals

first_img MORE: Top 10 suburbs predicted to boom James Bond-inspired home hits market Broncos chairman sells up in Brisbane Brisbane’s median rent ($435 a week) is lower than not just the combined capitals ($464) but also just below national level too ($436).Brisbane logged the highest rise in rents this past quarter of all mainland capitals, but there’s good news for renters -it’s still cheaper to live here than everywhere else on the East Coast. The latest CoreLogic September 2019 Quarterly Rental Review found Brisbane rents rose 0.3pc in the quarter, bucking a national trend downwards (-0.3pc) with the combined capitals result also going backwards (-0.5pc). Philanthropist’s Gold Coast mansion sold Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:06Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:06 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. 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This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHelp with buying your first home 01:07center_img Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:40Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:40 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenQuestions for Millennial home buyers01:41 “The quarterly national decline can be attributed to the decline in rental rates across five of the eight capital cities and slowing growth across the combined regional rental markets,” CoreLogic found.Sydney saw its quarterly change in rents come in at -1pc, while Melbourne (-0.3pc), Perth (-0.4pc), Darwin (0.2pc) and Canberra (-1.1pc) went backwards. Adelaide was the only other mainland capital to rise (0.2pc) while Hobart posted 0.6pc. Change in rents, CoreLogic Quarterly Rental Review, Sept 2019. Source: CoreLogicWhile investors would be heartened by the slow rise in Brisbane, renters don’t have too much to complain about either, with Brisbane’s median rent ($435 a week) sitting lower than not just the combined capitals ($464) but also just below national level too ($436).Median rent for all dwellings in Sydney was highest ($571 a week), Melbourne was on $457, while Canberra was second highest at $538.More from newsParks and wildlife the new lust-haves post coronavirus11 hours agoNoosa’s best beachfront penthouse is about to hit the market11 hours agoThe report found that it was rents in the combined regional markets that were seeing higher rises now, posting a 0.3pc quarterly increase. The data also saw the quarterly auction clearance rate come in at its highest rate (69.9pc across 16,730 auctions) since the June 2017 quarter (71.7 per cent) nationally.CoreLogic head of research Tim Lawless said weekly auction clearance rates were also holding within the last seven weeks of the quarter at or above 70 per cent.“The lift in clearance rates highlights a better fit between buyer and seller pricing expectations and some urgency creeping back into the market as a larger pool of buyers compete for a smaller than usual number of homes for sale.” he said.“There is a strong likelihood that advertised stock levels and the number of scheduled auctions will progressively rise as spring progresses and vendor confidence lifts on healthier housing market conditions.” FOLLOW SOPHIE FOSTER ON FACEBOOKlast_img read more

Online casino on “strong footing” to absorb live sports return

first_imgShare Soft2Bet continues new market drive with Irokobet launch August 26, 2020 Share Related Articles Submit Better Collective cautious on quick recovery as COVID drags growth momentum August 25, 2020 StumbleUpon Alberto Alfieri: Leading the way for Gamingtec’s B2C growth August 25, 2020 SBC News caught up with Soft2Bet CEO Boris Chaikin to discuss whether the recent spike in online casino activity during the break from live sports events could be sustained as Europe’s biggest football leagues kick back into action.Chaikin was asked if the traffic for online casino games – beneficiaries of the COVID-19 pandemic (at least relative to sports betting) – would drop significantly with a more ‘normal’ availability of sports to bet on, rubber stamped by this week’s Premier League resumption. “Yes and no,” he replied. “Casino traffic will be lower but not because of the return of live sports. When people resume their usual lives, they will no longer have the leisure time available during lockdown to enjoy online casino entertainment. “Budgets could be constrained too, due to the anticipated economic consequences of the pandemic and job pause experienced by a significant proportion of the population. “That is not to say that we will see a major drop off in volumes, however; since customer acquisition and engagement over the last few weeks has put us on a strong footing.”Chaikin noted that the Bundesliga, the first of the major football leagues to return, had brought about a significant increase in traffic for sports betting, but not instigated a significant decline in online casino traffic.He admitted that the Premier League is likely to tilt the global casino-sports betting balance to a greater extent than the Bundesliga, but added that he hoped that sports bettors would “continue to enjoy the products they were introduced to during lockdown alongside betting on sports, albeit less frequently, than abandon them entirely”.Chaikin also reiterated that the COVID-19 crisis has magnified the need for gambling operators – and white label providers such as Soft2Bet – to diversify their offering in terms of non-mainstream content, casino games and traditional sports betting favourites.Referring to COVID-19 as a ‘black swan’ that no one expected, he explained: “Navigating the crisis has taught us some valuable lessons that will help shape how the industry moves on, not least the importance of product diversification and versatility.”He added that while online casino as a sector may appear “less vulnerable” than its sports betting counterpart, these ‘unprecedented times’ – combined with regulatory rumblings in the background – dictate that one vertical is never necessarily more stable than another.Gazing into his crystal ball for igaming’s short to mid-term future, he predicted: “The appearance of new solutions, not only for cross-selling but in attracting new players to igaming, will continue to develop in the coming months and drive strategies going forward.”last_img read more

Benilde fans semifinal hopes

first_imgSt. Benilde Lady Blazers. Photo by Tristan Tamayo/INQUIRER.netSt. Benilde crushed Perpetual, 25-11, 25-12, 25-18, Saturday night to remain in the running for the next round in the Premier Volleyball League Collegiate Conference at FilOil Flying V Center.But the Lady Blazers’ fate still hangs in the balance as Sunday’s matches will decide if they end up in a three-way tie for the semifinals or get booted out altogether.ADVERTISEMENT Peza offers relief to ecozone firms Don’t miss out on the latest news and information. Will you be the first P16 Billion Powerball jackpot winner from the Philippines? Over in Cagayan de Oro, University of Santo Tomas finished the eliminations on a winning note, beating Far Eastern University, 25-15, 25-27, 25-18, 22-25, 15-11.Maritess Pablo banged in 13 points, while Jan Daquil and Klarissa Abrian added nine each for St. Benilde, which closed out the elimination round with a 3-4 card.FEATURED STORIESSPORTSGinebra beats Meralco again to capture PBA Governors’ Cup titleSPORTSJapeth Aguilar wins 1st PBA Finals MVP award for GinebraSPORTSTim Cone still willing to coach Gilas but admits decision won’t be ‘simple yes or no’University of the Philippines clashes with San Beda on Sunday with the Lady Maroons needing to win to complete the semifinal cast. LATEST STORIES Palace OKs total deployment ban on Kuwait OFWs MOST READ SMC airport could boost PH hosting of sports events Carpio hits red carpet treatment for China Coast Guard PLAY LIST 02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player awardcenter_img View comments Lights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anew DepEd’s Taal challenge: 30K students displaced Judy Ann’s 1st project for 2020 is giving her a ‘stomachache’ Gov’t in no rush to rescue animals in Taal ‘High crimes and misdemeanors’: Trump impeachment trial begins Nadine Lustre’s phone stolen in Brazil Sports Related Videospowered by AdSparcRead Nextlast_img read more

Home Prices Stagnate in StillWeak National Economy

first_imgHome Prices Stagnate in Still-Weak National Economy Share November 29, 2011 473 Views Agents & Brokers FHFA GDP Home Prices Housing Affordability Investors Lenders & Servicers Pending-Home Prices Processing S & P Index Service Providers 2011-11-29 Ryan Schuettecenter_img Home prices drifted lower over the third quarter this year, falling year-over-year by 3.9 percent, according to “”Standard & Poor’s””:http://www.standardandpoors.com/home/en/us Case-Shiller Index.[IMAGE]””Home prices drifted lower in September and the third quarter,”” “”David Blitzer””:http://www.imn.org/pages/biography.cfm?personid=BLITZ10001, chairman of S&P Indices, said in a statement. “”The plunging collapse of prices seen in 2007-2009 seems to be behind us. Any chance for a sustained recovery will probably need a stronger economy.””The figures inched forward by only 0.1 percent from last month, with the modest pickup reflecting a 5.8-percent improvement from figures seen for home prices over the second quarter. The numbers beat forecasts for a 3.0-percent slide back from the 20-city composite.Fourteen of 20 cities fell in a southerly direction over September 2011, with figures for home prices in Atlanta, Las Vegas, Los Angeles, and San Francisco sliding back. Only two ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô Detroit and Washington, D.C. ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô climbed [COLUMN_BREAK]forward by 3.7 percent and 1.0 percent, respectively, with trends for the former marking the third consecutive month.Seventeen of the 20 cities listed by S&P fell for the month, with the 20-city composite regressing by 0.6 percent in September when contrasted with figures from the month before. The 10-city composite meanwhile posted a 0.4-percent decline.Annual rates for the 20-city and 10-city composites offered shortfalls that landed home prices at 3.6 percent and 3.3 percent, respectively, down from rates seen in September last year.The same day S&P released figures for home prices, the “”Federal Housing Finance Agency””:http://www.fhfa.gov/ (FHFA) mirrored findings by posting only a marginal increase by 0.2 percent on a seasonally adjusted basis, a change from the second quarter.The FHFA found that prices climbed by 0.7 percent on an unadjusted basis, with the seasonally adjusted monthly index rising by 0.9 percent from August values. “”In most regions of the country, third-quarter home values were relatively stable, even in some areas that experienced sharp price declines in preceding quarters,”” “”Andrew Leventis””:http://www.linkedin.com/in/andrewleventis, principal economist with the FHFA, said in a statement. “”While most housing markets still face stiff headwinds, the fact that some beleaguered states ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô such as Idaho, Florida and Utah ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô saw quarterly price increases is a positive development,”” he added. in Data, Government, Origination, Secondary Market, Servicinglast_img read more