South Wales-based La Crème Patisserie & Catering Co plans to expand its retail and wholesale operations, having completed the purchase of a new factory unit on the Baglan Moors in Neath Port Talbot.Directors Siân and Ian Hindle hope the new unit, the La Crème Centre of Excellence, will be fully operational by March 2009.The firm’s fortunes were boosted when Siân Hindle was awarded runner-up in the Puratos-sponsored Patissier of the Year category at the Baking Industry Awards 2007. Prior to 2008, around 90% of the firm’s sales were from selling patisserie directly to consumers. But from January 2008, it started supplying cafés, coffee shops and hotels. The £24,000 centre, which will employ 10 people, will also house a wedding and birthday cake studio.
As the first round of NCUA supervisory stress tests are being completed, NCUA’s capital planning and stress testing rule for the largest credit unions might have you asking if you should be doing capital planning and stress testing too. Even if you are not a federally insured credit union with assets of $10 billion or more, it’s reasonable to ask if it’s a good practice.Understanding risk exposures and being structured to survive a certain level of risk is key. All credit unions do some form of capital planning via their budgeting process (although not at the rule’s level), but stress testing is often lacking. If you’re interested in performing NCUA’s stress testing, they publish stress test scenarios for baseline, adverse and severely adverse scenarios. These are macro-economic scenarios that include the unemployment rate, market interest rates, GDP, etc., and must be translated into assumptions that affect the credit union’s projections.NCUA is conducting the stress testing for the first three years and results aren’t public at this time. But the Federal Reserve’s approach to stress testing for banks, which NCUA’s stress tests were modeled after, shows that those macro-economic scenarios are turned into stress test assumptions by using the financial institution’s data, historical information and other regional and national data. If it’s overwhelming to think about creating assumptions for individual loans, step back to the bigger picture. The Federal Reserve’s emphasis is on how such assumptions should be justifiably tied to the economic stresses being modeled, rather than loan-level detail. In fact, banks commonly model portfolios segmented by such characteristics as product line, lien position and sometimes down to loan-to-value and credit score for material portfolios rather than at the individual loan level. continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr
AddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThisALPENA, Mich.— The end of the school year is approaching, and the time to return equipment used during the stay home order is right around the corner.This Tuesday and Wednesday is the time for students and parents to drop off all school property used during the year, and collect personal belongings that were left in schools prior to the shut down.In order to comply with the social distancing measures implemented by Governor Gretchen Whitmer, the district is requesting that community members stay in their vehicles when dropping off items.All Chromebooks should be dropped off at Thunder Bay Junior High School.Library books, textbooks, and athletic uniforms should be returned to the child’s school.Drop off and pick up times are this Wednesday and Thursday, 11 a.m. to 1 p.m., and 4 to 7 p.m.AddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThis Tags: Chromebooks, School, stay home orderContinue ReadingPrevious First responders quickly knock down pole barn fireNext Sheriff Kieliszewski receives the Distinguished Sheriff Award