This Financial Sector Assessment (FSA) summarizes the key findings and recommendations of the 2007 FSAP update report for the Republic of Lithuania.1 The FSA, which focuses on developmental issues, should be read together with the Financial System Stability Assessment (FSSA) in order to get a full overview of the findings and recommendations of the 2007 Republic of Lithuania FSAP update. The FSAP update team noted progress since the 2002 banking sector vulnerability assessment2, and evaluated regulatory and supervisory challenges for the banking and non-banking sectors; cross-border arrangements, safety nets, crisis management preparedness; the pension reform, and capital market development.
Author Archive for Public Intelligence
Archistrategos.
Tunisia, World Bank
IBRD Tunisia Development Policy Loan
This Program Document proposes an Integration and Competitiveness Development Policy Loan (ICL) for Tunisia in the amount o f US$250 million. This ICL supports the key strategc elements o f Tunisia’s 1 I* National Development Plan (2007-1 1) which seeks to strengthen growth and ensure that this growth i s translated into employment. It is also a cornerstone of the World Bank’s program in Tunisia as outlined in the Country Assistance Strategy (FYO5-08) and the Country Assistance Strategy Progress Report (2007) that set out an indicative program for FY09-10.
Department of Homeland Security
DHS Cyber Threat to the U.S.
Cyber Threat Branch Responsibilities
• Execute the responsibilities created by the Homeland Security Act of 2002:
– Access, receive, and analyze law enforcement, intelligence, and other information from federal, state, and local agencies and private sector entities to:
• Identify and assess the nature and scope of terrorist threats
• Detect and identify threats to the United States
• Understand threats in light of actual and potential vulnerabilities
– Carry out comprehensive assessments to determine the risk posed by terrorist attacks
• Outreach plays a critical role in the mission
– The CTB provides threat briefings and teleconferences to:
• Sector Coordinating Councils
• Government Coordinating Councils
• Key industry associations
United Nations
U.N. Framework Convention on Climate Change Copenhagen Draft Treaty
17. [[Developed [and developing] countries] [Developed and developing country Parties] [All Parties] [shall] [should]:]
(a) Compensate for damage to the LDCs’ economy and also compensate for lost opportunities, resources, lives, land and dignity, as many will become environmental refugees;
(b) Africa, in the context of environmental justice, should be equitably compensated for environmental, social and economic losses arising from the implementation of response
measures.
Government Accountability Office
Underfunded Pension Plans: $350 Million in Executive Compensation Shortly Before Termination
GAO found that 40 executives for 10 companies received approximately $350 million in pay and other compensation in the years leading up to the termination of their companies’ underfunded pension plans. GAO identified salaries, bonuses, and benefits provided to small groups of high-ranking executives at these companies during the 5 years leading up to the termination of their pension plans. For example, beyond the tens of millions in base salaries received, GAO found that executives also received millions of dollars in stock awards, income tax reimbursements, retention bonuses, severance packages, and supplemental executive-only retirement plans.
European Central Bank
Confidential European Central Bank Brief: “A Case for Rapid Euro Adoption?”
Introduction for Panel discussion “A Case for Rapid Euro Adoption?”
OeNB Conference on European Economic Integration
Gertrude Tumpel-Gugerell
Member of the Executive Board
Vienna, 16 November 2009
Office of the Special Inspector General for the Troubled Asset Relief Program
SIGTARP October 2009 Quarterly Report to Congress
Systemically Significant Failing Institutions (“SSFI”) Program. Under the stated terms of the SSFI program, Treasury invests in systemically significant institutions to prevent their failure and the market disruption that would follow. As of September 30, 2009, Treasury, through SSFI, had made and is committed to make further investments in one institution — American International Group, Inc. (“AIG”). This support was provided through two transactions — $40 billion for the purchase of preferred stock from AIG to repay debt owed to the Federal Reserve and approximately $29.8 billion for an equity capital facility that AIG can draw on as needed. As of September 30, 2009, AIG had drawn down $3.2 billion in equity from the capital facility. See the “Systemically Significant Failing Institutions” portion of this section for a more detailed discussion of the AIG transactions.
Office of the Special Inspector General for the Troubled Asset Relief Program
Maiden Lane III and Factors Affecting Efforts to Limit Payments to AIG Counterparties
In the fall of 2008, the Federal Reserve and Treasury faced several key decisions about the future of AIG. After attempts to find private-sector financing failed, they chose to provide assistance to AIG rather than allow the company to file for bankruptcy. FRBNY officials believed that an AIG failure would pose considerable risk to the entire financial system and would have significantly intensified an already severe financial crisis. FRBNY was concerned about the effect of an AIG bankruptcy on key sectors of the market, such as retirement accounts and the credit markets. FRBNY adopted in substantial part the economic terms of a draft term sheet under consideration by a consortium of private banks, the terms of which included a very high interest rate.
World Bank
Following Up on Accra: A World Bank Action Plan on Aid Effectiveness
In September 2008, nearly 2,000 people gathered in Accra, Ghana, for the Third High Level Forum on Aid Effectiveness (HLF). They represented a wide range o f development actors-low-income countries, middle-income countries, fragile states, donor countries, international aid organizations, global funds, civil society organizations, parliaments, media-but they were united by the goal o f improving the delivery and use o f development assistance. To move this agenda forward, they ended the HLF by endorsing the Accra Agenda for Action (AAA).
Department of Defense
95th Civil Affairs Brigade Command Perspective
End-State: Civil Affairs forces capable of performing civil reconnaissance, mapping the human terrain, performing conflict based civil analysis, and providing the civil component to the Army and Combatant Command’s civil common operational picture enabling USG cooperative analysis and engagement.
U.S. Army
Army Team C4ISR BRAC Update
Guiding Principles
• The move will be transparent to the Soldiers engaged in combat operations and the civilians supporting them.
• We will do everything in our power, as limited by law, to mitigate the professional and personal turbulence of those members of the workforce that choose to move.
• We will do everything in our power, as limited by law, to assist the transition of the workforce that decides not to move.
• We will preserve and the culture, history and esprit de corps of the C4ISR Mission at Fort Monmouth.
Afghanistan
Afghanistan ISAF Counter-IED Smart Book
Clear Evacuate an area of approx 300 meter
• Evacuate the area as quickly as possible.
• Move people away from the device and not past it.
• Mark your location and note the direction and distance to the device. Move to a minimum distance of 200 meters from the suspect item.
• The On-Scene Commander will make the decision on how large an area to clear. The below danger areas are from ISAF SOP 10370:
• 200 meters – small device/postal bomb
• 300 meters – car bomb
• 600 meters – large device e.g. truck bomb. If an open area, then increase to 1000m.
• Identify and establish an Incident Control Point which must always be searched.
• Make maximum use of hard cover, and ensure personnel are out of the direct Line of Site (LOS) from the suspect area to cleared positions. If cover cannot be obtained, maximize distance from the device.
International Monetary Fund, South Africa
IMF South Africa Staff Report for the 2009 Article IV Consultation
The global financial crisis has sharply altered the outlook for an already slowing economy. Large capital outflows lowered stock prices and depreciated the rand in late 2008. A sharp decline in external demand and a slump in commodity prices have pushed the economy into a recession. Inflows have returned and the rand has appreciated recently, but inflation risks have increased and the current account deficit is projected to widen again. The risks to the outlook are mainly on the downside. The banking system has remained liquid and well-capitalized, but impaired loans are rising as the economy weakens. Policies have been countercyclical, with a large investment-centered fiscal stimulus in FY 2008/9 followed by further easing in FY2009/10, and substantial monetary easing in the first half of 2009. Medium-term budget plans envisage a moderation in spending growth over the medium term.
Multi-National Corps Iraq
Multi-National Corps Iraq Counter-IED Smart Book 2008
All personnel are to be moved away from the suspect item. Mark your location and note the direction and distance to the device. Move to a minimum distance of 300 meters from the suspect item. The Convoy Commander or Patrol Leader at the scene makes the decision on how large an area to clear based on METT-TC. Detonation may be imminent if the device was armed before being located. Personnel should make maximum use of hard cover, ensuring they are out of the direct Line of Site (LOS) from the suspect area to cleared positions. If cover cannot be obtained, maximize distance from the device.
Afghanistan
Confidential Vodafone Comments to Afghanistan Central Bank on E-Money Institutions
1 – Do you agree with the proposed limitations on individual, daily and monthly transactions? If not, what limitations would you propose, and what are your justifications for these limitations from an AML/CFT perspective?
Generally, Vodafone supports a risk based approach to transaction limits, with higher limits granted where KYC levels are increased. This has been applied for M-PESA in Kenya.
Afghanistan
Confidential Roshan Comments to Afghanistan Central Bank on E-Money Institutions
Article 2.5.12.2 – anti-money laundering/combating the financing of terrorism
The restriction against corporations should be removed. There does not appear to be a valid policy objective behind the restriction and no other jurisdiction of which we are aware has imposed such a restriction. One of DAB’s policy objectives is to increase access to financial services. Banks and micro-finance institutions may use EMI services to provide their services and products to large sections of the Afghan population, thereby increasing access to financial services. Given that banks and financial institutions are corporations, the proposed ban will prevent them from using such EMI services. This totally undermines DAB’s stated objective of increasing financial access. The proposed rule is manifestly disproportionate to the risks arising from EMI practices and is inconsistent with the practices of regulators in other jurisdictions.
Macedonia, World Bank
Macedonia Country Partnership Strategy FY07-FY10
This Country Partnership Strategy Progress Report (CPSPR) assesses progress in implementing the FY07-10 Country Partnership Strategy (CPS) for the former Yugoslav Republic of Macedonia (fYR Macedonia), which was discussed by the Board of Executive Directors on March 27, 2007.’ The CPSPR confirms the overall direction of the World Bank Group program while introducing adjustments to the evolving partnership through the remainder of the CPS period, including the introduction of a streamlined CPS results framework.
U.S. Special Operations Command
US Special Operations Joint Civil Affairs Brief
USSOCOM Proponency Office
* J33 CA is the DOD/Joint CA Proponency Office for USSOCOM
* Coordination and integration for DOD/Joint Proponency within the command and with the Services and USJFCOM
* Ensure interoperability in training, equipment, forces, doctrine
* Enable capabilities to accomplish current and future CA missions
U.S. Pacific Command
USPACOM Energy Initiatives (U)
• Consistent with and supportive of:
– Nat’l Security Strategy
– Nat’l sea state change & new administration’s views on energy
– Nat’l Defense Strategy and other OSD policies/strategy
– PACOM mission, vision and priorities
– Service strategies
– Host nation and state policies/strategy
– Other COCOM energy strategies
Eurosystem
Single Euro Payments Area (SEPA)
The Single Euro Payments Area is an initiative of the European Central Bank which will unify all of the retail payment markets in the euro area to form a single market. The initiative has three phases: a design phase, followed by a period of integration, followed by total migration to the new system. SEPA is currently nearing completion of its migration phase, indicating that its instruments are generally in use at this time.
European Central Bank
Community Fora in Single Euro Payments Area
Community fora in the Single Euro Payments Area, including in Austria, Belgium, Cyprus, Estonia, Éire/Ireland, Finland, France, Germany, Greece, Italy, Latvia, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.
FEMA
National Capital Region Electronic Designation and Validation of Federal/Emergency Response Officials
This will enable Federal government relying parties to:
* verify the validity of the identity card via the Identity Authentication PKI Certificate
* verify the issuing organization (i.e., CA cross-certified with FBCA)
* be assured that the certificate (and by extension, the card) hasnot been revoked or invalidated since issuance
Bank of International Settlements
Restricted BIS Brief: Interdependencies among payment and settlement systems
What are interdependencies, and Why do they matter?
Interdependencies arise when the settlement flows, operational processes or risk management procedures of one system are related to those of other systems
Interdependencies potentially can simultaneously:
•Improve the safety and efficiency of payment and settlement processes
•Allow financial disruptions to be passed more easily and more quickly across systems, their participants and related markets, accentuating their role in transmitting disruptions (Ferguson report)
Department of Homeland Security
Secretary Napolitano Remarks on Immigration Reform at the Center for American Progress
So we all have to do our part to have a system that works. At the end of the day, when it comes to immigration, people need to be able to trust the system. Americans need to know that their government is committed to enforcing the law and securing the border—and that it takes this responsibility seriously. Law enforcement needs to have better legal tools and the necessary resources to deal with border-related and immigration-related crime. Businesses must be able find the workers they need here in America, rather than having to move overseas. Immigrants need to be able to plan their lives—they need to know that once we reform the laws, we’re going to have a system that works, and that the contours of our immigration laws will last. And they need to know that they will have as many responsibilities as they do rights.
Africa, U.S. Marine Corps
4th Civil Affairs Group Liberia Mil-to-Mil Program
Command
• Office of Security Cooperation COL Rumphrey USA
• Dep OSC LCDR Peters, USN
• Defense Attaché: LtCol Plevell USMC
• Chain of Command: OSC –> DATT –> Ambassador (RSO)