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Jan 16, 2015
CMI Spot Prices as of Closing of Trading in New York on January 16, 2015.
FDIC Press Release - January 16, 2015: First NBC Bank, New Orleans, Louisiana, Assumes All of the Deposits of First National Bank of Crestview, Crestview, Florida.
Press Release
First NBC Bank, New Orleans, Louisiana, Assumes All of the Deposits of First National Bank of Crestview, Crestview, Florida
| FOR IMMEDIATE RELEASE January 16, 2015 | Media Contact: LaJuan Williams-Young Office: 202-898-3876 Cell: 571-215-6027 Email: lwilliams-young@fdic.gov |
First National Bank of Crestview, Crestview, Florida, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First NBC Bank, New Orleans, Louisiana, to assume all of the deposits of First National Bank of Crestview.
The three former branches of First National Bank of Crestview will reopen as branches of First NBC Bank on Tuesday, the first business day of the week given the Martin Luther King, Jr., holiday. Depositors of First National Bank of Crestview will automatically become depositors of First NBC Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of First National Bank of Crestview should continue to use their current branch until they receive notice from First NBC Bank that systems conversions have been completed to allow full-service banking at all branches of First NBC Bank.
Depositors of First National Bank of Crestview can continue to access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.
As of September 30, 2014, First National Bank of Crestview had approximately $79.7 million in total assets and $78.6 million in total deposits. In addition to assuming all of the deposits of First National Bank of Crestview, First NBC Bank agreed to purchase approximately $62.0 million of the failed bank's assets. The FDIC will retain the remaining assets for later disposition.
Customers with questions about today's transaction should call the FDIC toll-free at 1-800-913-3053. The phone number will be operational this evening until 9:00 p.m.; Central Standard Time (CST); on Saturday from 9:00 a.m. to 6:00 p.m., CST; on Sunday from noon to 6:00 p.m., CST;on Monday from 8:00 a.m. to 8:00 p.m., CST; and thereafter from 9:00 a.m. to 5:00 p.m., CST. Interested parties also can visit the FDIC's Web site at https://www.fdic.gov/bank/
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $4.4 million. Compared to other alternatives, First NBC Bank's acquisition was the least costly resolution for the FDIC's DIF. First National Bank of Crestview is the 1st FDIC-insured institution to fail in the nation this year. The last FDIC-insured institution closed in the state was Valley Bank, Fort Lauderdale, on June 20, 2014.
U.S. Department of The Treasury Enforcement Actions - January 16, 2015: Treasury Sanctions Two Indian Nationals and a Company Based in Pakistan for Ties to the South Asian Criminal Network ‘D Company’.
Action Targets Long-Time Members of D Company and a Paper Mill Controlled by One of the Designated Individuals
WASHINGTON – The U.S. Department of the Treasury today announced the designation of two Indian nationals and one entity in Pakistan as Specially Designated Narcotics Traffickers pursuant to the Foreign Narcotics Kingpin Designation Act (Kingpin Act) due to their ties to D Company, a South Asian criminal organization led by Dawood Ibrahim. As a result of today's action, all assets of those designated that are based in the United States or are in the control of U.S. persons are frozen, and U.S. persons are generally prohibited from engaging in transactions with them.
D Company is a transnational crime syndicate that principally operates in India, Pakistan, and the United Arab Emirates. D Company is involved in a variety of criminal activities, including narcotics trafficking, extortion, smuggling, and contract killings. Dawood Ibrahim and other leaders of D Company are the subjects of INTERPOL Red Notices for their suspected involvement in the 1993 terrorist bombings in Mumbai, India in which 257 people were killed. In October 2003, the Treasury Department named Dawood Ibrahim as a Specially Designated Global Terrorist, and in June 2006, the United States named both Dawood Ibrahim and D Company as Significant Foreign Narcotics Traffickers pursuant to the Kingpin Act. Additionally, in May 2012, Treasury designated two senior D Company lieutenants, Chhota Shakeel and Ibrahim "Tiger" Memon, under the Kingpin Act.
"Today, the United States is targeting D Company, a violent organization notorious for its drug trafficking activities and terrorism," said Adam J. Szubin, Director of the Office of Foreign Assets Control. "Combatting transnational organized crime is a top U.S. priority, and we will continue to expose the activities of D Company and the underpinnings of criminal financial networks worldwide."
Today's action targets two long-time members of D Company, Shaikh Anis Ibrahim Kaskar (Anis Ibrahim), the brother of Dawood Ibrahim, and Aziz Moosa Bilakhia (Bilakhia), both Indian nationals. Anis Ibrahim is known to be involved in narcotics trafficking, extortion, contract killings, and money laundering on behalf of D Company. Anis Ibrahim is also accused of involvement in the 1993 Mumbai blasts. Today's action also targets Mehran Paper Mill, a Kotri City, Pakistan-based paper company owned or controlled by Anis Ibrahim.
Bilakhia works directly for Anis and Dawood Ibrahim and manages extortion, enforcement, and debt collection activities for D Company. Bilakhia has been involved with D Company since at least the 1993 Mumbai bombings, for which he is wanted by Indian authorities.
Since June 2000, more than 1,700 entities and individuals have been named pursuant to the Kingpin Act for their role in international narcotics trafficking. Penalties for violations of the Kingpin Act range from civil penalties of up to $1.075 million per violation to more severe criminal penalties. Criminal penalties for corporate officers may include up to 30 years in prison and fines up to $5 million. Criminal fines for corporations may reach $10 million. Other individuals could face up to 10 years in prison and fines pursuant to Title 18 of the United States Code for criminal violations of the Kingpin Act.
NYT | Afternoon Update - January 16, 2015: Top News: Supreme Court to Decide Whether Gays Nationwide Can Marry
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Top News
By ADAM LIPTAK
The court, after ducking the issue in October, is now likely to resolve one of the great civil rights questions of the age before its current term ends in June.
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By JUSTIN GILLIS
Extreme land temperatures were accompanied by an unusually warm ocean surface virtually everywhere except around Antarctica, scientists reported Friday.
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By ALISON SMALE and JAMES KANTER
A spate of police raids and arrested suspects showed the complexity of the challenge facing intelligence agencies and security services in confronting the expanding threat from radical jihadis.
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By ANDREW HIGGINS
In the wake of attacks in Paris, the southern town of Lunel, population 25,700, is trying to fathom how it became a source of recruits for fighting in Syria.
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By JULIE TURKEWITZ
After a popular candidate is rejected, critics say a requirement that Navajo presidents be fluent in their native language has allowed tradition to trump progress.
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By MARC TRACY
A proposed agreement would restore 112 wins by Penn State that were wiped out during the Jerry Sandusky scandal, again making Joe Paterno the winningest coach in major-college football.
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By ROBERT PEAR
Marilyn B. Tavenner, the administrator of the federal Centers for Medicare and Medicaid Services, helped preside over the rollout of sweeping changes in the nation's health care system.
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VIDEO: 
U.S. Department of The Treasury Press Release - January 16, 2015: Treasury International Capital Data For November.
WASHINGTON – The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for November 2014. The next release, which will report on data for December 2014, is scheduled for February 17, 2015.
The sum total in November of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a monthly net TIC outflow of $6.3 billion. Of this, net foreign private outflows were $2.9 billion, and net foreign official outflows were $3.4 billion.
Foreign residents increased their holdings of long-term U.S. securities in November; net purchases were $59.2 billion. Net purchases by private foreign investors were $53.0 billion, while net purchases by foreign official institutions were $6.2 billion.
U.S. residents increased their holdings of long-term foreign securities, with net purchases of $25.7 billion.
Taking into account transactions in both foreign and U.S. securities, net foreign purchases of long-term securities were $33.5 billion. After including adjustments, such as estimates of unrecorded principal payments to foreigners on U.S. asset-backed securities, overall net foreign acquisitions of long-term securities are estimated to have been $21.0 billion in November.
Foreign residents increased their holdings of U.S. Treasury bills by $8.8 billion. Foreign resident holdings of all dollar-denominated short-term U.S. securities and other custody liabilities increased by $4.0 billion.
Banks' own net dollar-denominated liabilities to foreign residents decreased by $31.3 billion.
Complete data are available on the Treasury website at:
www.treasury.gov/resource-
About TIC Data
The monthly data on holdings of long-term securities, as well as the monthly table on Major Foreign Holders of Treasury Securities, reflect foreign holdings of U.S. securities collected primarily on the basis of custodial data. These data help provide a window into foreign ownership of U.S. securities, but they cannot attribute holdings of U.S. securities with complete accuracy. For example, if a U.S. Treasury security purchased by a foreign resident is held in a custodial account in a third country, the true ownership of the security will not be reflected in the data. The custodial data will also not properly attribute U.S. Treasury securities managed by foreign private portfolio managers who invest on behalf of residents of other countries. In addition, foreign countries may hold dollars and other U.S. assets that are not captured in the TIC data. For these reasons, it is difficult to draw precise conclusions from TIC data about changes in the foreign holdings of U.S. financial assets by individual countries.
Press notice TIC for January 2015
The sum total in November of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a monthly net TIC outflow of $6.3 billion. Of this, net foreign private outflows were $2.9 billion, and net foreign official outflows were $3.4 billion.
Foreign residents increased their holdings of long-term U.S. securities in November; net purchases were $59.2 billion. Net purchases by private foreign investors were $53.0 billion, while net purchases by foreign official institutions were $6.2 billion.
U.S. residents increased their holdings of long-term foreign securities, with net purchases of $25.7 billion.
Taking into account transactions in both foreign and U.S. securities, net foreign purchases of long-term securities were $33.5 billion. After including adjustments, such as estimates of unrecorded principal payments to foreigners on U.S. asset-backed securities, overall net foreign acquisitions of long-term securities are estimated to have been $21.0 billion in November.
Foreign residents increased their holdings of U.S. Treasury bills by $8.8 billion. Foreign resident holdings of all dollar-denominated short-term U.S. securities and other custody liabilities increased by $4.0 billion.
Banks' own net dollar-denominated liabilities to foreign residents decreased by $31.3 billion.
Complete data are available on the Treasury website at:
www.treasury.gov/resource-
About TIC Data
The monthly data on holdings of long-term securities, as well as the monthly table on Major Foreign Holders of Treasury Securities, reflect foreign holdings of U.S. securities collected primarily on the basis of custodial data. These data help provide a window into foreign ownership of U.S. securities, but they cannot attribute holdings of U.S. securities with complete accuracy. For example, if a U.S. Treasury security purchased by a foreign resident is held in a custodial account in a third country, the true ownership of the security will not be reflected in the data. The custodial data will also not properly attribute U.S. Treasury securities managed by foreign private portfolio managers who invest on behalf of residents of other countries. In addition, foreign countries may hold dollars and other U.S. assets that are not captured in the TIC data. For these reasons, it is difficult to draw precise conclusions from TIC data about changes in the foreign holdings of U.S. financial assets by individual countries.
Press notice TIC for January 2015
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