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Patent
Federal Reserve Bank Of Atlanta | Date: 2015-07-30

A flaw remediation management server (herein flaw server) receives flaw data from a plurality of flaw sources. Further, the flaw server analyzes and correlates the flaw data to generate one flaw record per flaw for each asset. Furthermore, the flaw server prioritizes the flaw records and stores them in a flaw database along with additional information associated with each flaw record. Then, the flaw server groups the flaw records of the flaw database into one or more work items based on grouping criteria. Further, the flaw server calculates and assigns a work priority score to each work item. Responsively, the flaw server generates instructions to create, update, and/or cancel a remediation ticket for each work item based on the work priority score. Furthermore, the flaw server generates interactive flaw remediation reports and/or dashboards based on the flaw records for presentation to a user.


News Article | February 23, 2017
Site: motherboard.vice.com

As Canada's interest in virtual currencies grows, so do the contradictions on how to approach regulating them. In 2015, a report from the Senate concluded that a hands-off approach to regulation was best in order to let the technology flourish and mature. A new staff report from the Bank of Canada says just the opposite: to work in Canada, virtual currencies like bitcoin will require significant government intervention, it argues. The report, written by two Bank of Canada employees and one visiting scholar from the Federal Reserve Bank of Atlanta, looked to the past for lessons on how to deal with digital currencies in the future. Specifically, it analyzed the brief time in the 1800s when Canada had both a government-issued currency and many non-uniform notes issued by individual banks, backed by the bank's own assets. Read More: The Canadian Senate Announced Its Bitcoin Report In a Totally Appropriate Way Using the lessons learned from the struggle to get this chaotic system under control, the report authors have some thoughts on virtual currencies. Namely, "We conclude that well designed and managed private digital currencies could circulate widely but only with appropriate government regulation…" The report, like all staff reports, reflects the position of the authors and does not necessarily reflect the positions of the Bank of Canada. It's strongest on the question of safety, emphasizing that people should be able to buy virtual currencies without a significant risk of losing out if the issuer goes under, a non-trivial risk with most virtual currencies as it stands. Often, this is due to exchanges—where virtual currencies are bought and sold—being hacked. As recently as August of 2016, popular bitcoin exchange Bitfinex was hacked and lost $60 million worth of coins. The Bank of Canada report doesn't go into great detail about what should be done with virtual currencies on this question, but says that they "can be made perfectly safe with government intervention, although it cannot be achieved solely through regulation." You also need insurance, the report says, pointing to the creation of the Bank Circulation Redemption Fund in 1890, which required all Canadian banks to pay into a central fund that would cover customer losses if any of them couldn't back up their notes. The authors raise the possibility of something similar being introduced for virtual currencies. "Some form of insurance could be an important part of making a digital currency system safe" "The historical episode showed that an insurance scheme of some form was an important part of ensuring the safety of bank notes," a Bank of Canada spokesperson wrote me in an emailed statement. "Similarly, some form of insurance could be an important part of making a digital currency system safe." Of course, the spokesperson noted, insurance is outside of the purview of the Bank of Canada. Beyond calling for more government intervention, the report is already ruffling the feathers of cryptocurrency enthusiasts by making some silly claims, at least on the face of it. One is that digital currencies will be counterfeited like bank notes were. Blockchain-based currencies like bitcoin are potentially vulnerable to something akin to counterfeiting (but still notably different) in the form of the "double-spend problem." Double-spending involves sending a single transaction through the network twice, nearly simultaneously, and having the target accept the one that the network eventually rejects, leaving the attacker with the funds. The report mentions the double-spend problem, but there is no such thing as a counterfeit bitcoin. This is because a "bitcoin" is just a number and an address that the network deems to be valid. There's nothing to counterfeit. "There are hundreds of digital currencies in existence, the authors didn't specifically refer to any of them when they made the observation about possible counterfeiting," the spokesperson said when questioned on this point. "The paper draws lessons for digital currencies, it is not a comparative study of their respective security elements." That difference aside, the report seems to be a clear indicator that Canada is looking more seriously at getting involved with virtual currencies—and not necessarily with the hands-off approach previously advocated for by the government. Get six of our favorite Motherboard stories every day by signing up for our newsletter .


Luo F.,Centers for Disease Control and Prevention | Florence C.S.,Centers for Disease Control and Prevention | Quispe-Agnoli M.,Federal Reserve Bank of Atlanta | Ouyang L.,Centers for Disease Control and Prevention | Crosby A.E.,Centers for Disease Control and Prevention
American Journal of Public Health | Year: 2011

Objectives: We examined the associations of overall and age-specific suicide rates with business cycles from 1928 to 2007 in the United States. Methods: We conducted a graphical analysis of changes in suicide rates during business cycles, used nonparametric analyses to test associations between business cycles and suicide rates, and calculated correlations between the national unemployment rate and suicide rates. Results: Graphical analyses showed that the overall suicide rate generally rose during recessions and fell during expansions. Age-specific suicide rates responded differently to recessions and expansions. Nonparametric tests indicated that the overall suicide rate and the suicide rates of the groups aged 25 to 34 years, 35 to 44 years, 45 to 54 years, and 55 to 64 years rose during contractions and fell during expansions. Suicide rates of the groups aged 15 to 24 years, 65 to 74 years, and 75 years and older did not exhibit this behavior. Correlation results were concordant with all nonparametric results except for the group aged 65 to 74 years. Conclusions: Business cycles may affect suicide rates, although different age groups responded differently. Our findings suggest that public health responses are a necessary component of suicide prevention during recessions.


News Article | November 18, 2016
Site: www.prweb.com

Diana Murphy has been nominated to serve a second one-year term as the 64th president of the United States Golf Association by the USGA Nominating Committee, as the organization prepares for its 123rd year of service to the game of golf. In addition, there are three newly nominated candidates for the 15-member Executive Committee: Thomas Barkin, Stephen Beebe and William Siart. Their collective experience encompasses expertise in strategic planning and nonprofit leadership, as well as a passion for environmental sustainability. If elected at the USGA’s Annual Meeting on Feb. 4, 2017 in Washington, D.C., they will replace retiring members William Fallon, Malcolm Holland and Asuka Nakahara. “Bill, Asuka and Malcolm have shared their time and experience to help guide the USGA through one of the most pivotal strategic planning periods in our history,” said Murphy. “I have been privileged to work with them and all of the successful professionals with such diverse talents who have advanced the game and the USGA’s leadership of it. Volunteers have always been at the heart of our mission, and we appreciate all they have done and will continue to do.” The committee also nominated Mark Newell, a four-year Executive Committee member, as president-elect. The new officer position replaces the role of vice president eliminated in 2016, and supports succession planning for future association leadership. Newell, who served as USGA general counsel in 2011-12, currently chairs the USGA Rules of Golf Committee. He has focused significant efforts on a multi-year Rules modernization project led by the USGA and The R&A, and he continues to provide support and leadership toward the development of a world handicap system. Current officers Sheila Johnson and George Still have been nominated to continue their service as secretary and treasurer, respectively. The eight committee members nominated to continue their service are: Michael Bailey, Stuart Francis, Thomas Hough, Robert Kain, Martha Lang, Gregory Morrison, Mark Reinemann and Clifford Shahbaz. In addition, Robert Weber has been nominated to serve a second term as USGA general counsel. Notable experience and achievements of the three committee nominees are as follows: Thomas Barkin, 55, of Atlanta, Ga., is a senior partner at McKinsey & Company, a global management consulting firm. For the past 30 years, Barkin has dedicated his professional career to providing executive-level strategic and business counsel to clients across multiple industries. For the last seven years, he has been the company’s global CFO and chief risk officer, with oversight of finance, legal and information technology functions, among others. Barkin earned his bachelor’s, MBA and law degrees from Harvard University. He currently serves on the executive committee of the Metro Atlanta Chamber of Commerce and is a member of the Emory University Board of Trustees, and he is a former chairman of the Federal Reserve Bank of Atlanta. A lifelong avid golfer and current member of East Lake Golf Club and the Capital City Club in Atlanta, he continues to try to play as well as he did when he won his junior club championship at age 16 in Tampa, Fla., and enjoys playing the game both in the United States and abroad. Stephen Beebe, of La Quinta, Calif., put himself through the University of Idaho College of Law by working on golf course maintenance crews, after spending most of his high school years working on the grounds staff at Blackfoot (Idaho) Municipal Golf Course. He credits that work for his passion for sustainability and efforts to highlight golf’s responsible management practices. Beebe, 71, became president and CEO of the J.R. Simplot Company in 1993, guiding one of the country’s largest privately owned companies through continued global expansion until his retirement in 2002. He has served on the grounds committee at every club where he has been a member, and continues to support courses in his current home state of California on drought-related issues. Beebe competed in the 1986 U.S. Mid-Amateur Championship, and is a past member of the Idaho Golf Association Board of Directors. He is a member of the Citrus Club/PGA West and the Quarry Golf Club in La Quinta, Calif. William Siart, of Pacific Palisades, Calif., a career banking executive, has dedicated his retirement years to supporting public education and the arts. He is the founder and chairman of Excellent Education Development (ExED), a California-based nonprofit with a mission to provide business and support services to public charter schools that deliver high-quality education in low-income neighborhoods. He is a member of the board of trustees and the executive committee of the University of Southern California, and the chairman of its finance committee. He also serves as a trustee of the J. Paul Getty Trust, which guides the largest privately endowed museum in the world, and is chairman of its finance committee. His collective charitable work earned him the Woodrow Wilson Award for Public Service in 2006, an accolade whose recipients include heads of state and international leaders. He earned a bachelor’s degree in economics from Santa Clara University, and an MBA in finance from the University of California, Berkeley. He served as chairman and CEO of First Interstate Bank from 1994 to 1996, capping more than 35 years in the financial sector. Siart, 69, is a member of The Los Angeles Country Club, Merion Golf Club, Riviera Country Club and The Vintage Club. The full Nominating Committee report will be distributed to USGA member clubs by Dec. 10, 2016, along with the complete schedule of the Annual Meeting, to be held Feb. 4 at the Ritz-Carlton Hotel in Washington, D.C. The day-long event will culminate in the USGA Annual Service Awards Dinner, which recognizes achievements by industry professionals and volunteers who have served the game of golf. For more information on current members of the USGA Executive Committee, visit usga.org. About the USGA The USGA conducts the U.S. Open, U.S. Women’s Open and U.S. Senior Open, as well as 10 national amateur championships, two state team championships and international matches, attracting players and fans from more than 160 countries. Together with The R&A, the USGA governs the game worldwide, jointly administering the Rules of Golf, Rules of Amateur Status, equipment standards and World Amateur Golf Rankings. The USGA’s reach is global with a working jurisdiction in the United States, its territories and Mexico, serving more than 25 million golfers and actively engaging 150 golf associations. The USGA is one of the world’s foremost authorities on research, development and support of sustainable golf course management practices. It serves as a primary steward for the game’s history and invests in the development of the game through the delivery of its services and its ongoing “For the Good of the Game” grants program. Additionally, the USGA’s Course Rating and Handicap systems are used on six continents in more than 50 countries. For more information about the USGA, visit http://www.usga.org.


News Article | October 28, 2016
Site: www.prweb.com

Nicki Grossman, former President and CEO of the Greater Fort Lauderdale (Florida) Convention & Visitors Bureau (CVB) and Broward County Commissioner, has joined the influence marketing and advertising team at ADEPT Strategy & Public Relations. Since 1995, Nicki Grossman acted as the president of the CVB heading up Broward County's convention and tourism marketing efforts. Mrs. Grossman was elected to the Hollywood, Florida Commission in 1978 and elected to the Broward County Commission in 1982. She served on the Board of Directors for the South Florida Super Bowl Host Committee, the Federal Reserve Bank of Atlanta's Travel and Tourism Advisory Council, American Coastal Coalition Board of Directors, and the Florida Commission on Tourism (where she was elected 2007-2008 Chair for VISIT FLORIDA). In 2007, Nicki was inducted into the VISIT FLORIDA Tourism Hall of Fame. In 2016 she was named to the Destination Management Association Hall of Fame and will be receiving a lifetime achievement award from North Star Publishing Group, the industry’s largest news association. Mrs. Grossman was named Top 25 Most Influential People in the Meetings Industry by Meeting News. She was also named one of the 100 Most Powerful Women in Tourism by Travel Agent and named one of the Top 25 Marketing Minds by the Hospitality Sales and Marketing Association International (HSMAI). Nicki E. Grossman was born and raised in Miami Beach. She is married to Circuit Court Judge Mel Grossman and is the mother of three daughters and "nana" to eight grandchildren. At ADEPT, Nicki joins a focused team who actively market, advertise and develop strategic communications for both public and private clients. Throughout South Florida and the Caribbean, ADEPT boasts over a dozen clients including real estate developers like the developers of the Broward Convention Center Hotel Expansion, Broward College, The City of Key West, The City of Fort Lauderdale, the Connect Miami Beach Light Rail Concessionaire Team and the country’s largest indoor entertainment venue Xtreme Action Park located in Fort Lauderdale. “I am very happy to join ADEPT’s boutique team of professionals and I hope to leverage my travel and tourism experience while adding value to their existing and future client base”, indicated Grossman. “I see a wonderful opportunity to support a growing Broward County small business”, concluded Grossman. About ADEPT Strategy & Public Relations: Founded in 2013 by Dana Pollitt and Julie Ruffolo, ADEPT focuses on providing strategy and public relations consulting services to public and private clients. With offices in Fort Lauderdale, Miami Beach and Key West, ADEPT provides strategic communications, advertising, business development services, public involvement, outreach, governmental affairs, stakeholder coordination, influence marketing and branding services. For more information, visit http://www.Adept.co, email ADEPT at Info(at)Adept(dot)co or contact 954-769-1533.


Patent
Federal Reserve Bank Of Dallas, Federal Reserve Bank Of Kansas City, Federal Reserve Bank Of Atlanta and Federal Reserve Bank Of Cleveland | Date: 2010-03-24

Producing print streams for efficiently generating properly formatted and ordered paper cash letters comprises print stream file that includes electronic form definitions for each cash letter document. The cash letter documents can include a cover page, one or more bundles of substitute checks, a bundle summary for each substitute check bundle, and/or a cash letter bundle summary. Information from an electronic image cash letter file can be input in data fields of the electronic form definitions. Printing the information in the print stream file results in a properly formatted and ordered paper cash letter including substitute checks and audit data. Each substitute check can include all of the MICR data provided on a corresponding, original paper check. The audit data includes the cover page, bundle summary(ies), and/or cash letter bundle summary, which can each detail the documents printed concurrently therewith.


Rupasingha A.,Federal Reserve Bank of Atlanta | Goetz S.J.,Pennsylvania State University
Papers in Regional Science | Year: 2013

This study explores the relationship between self-employment and income growth, employment growth, and change in poverty in metro and non-metro areas in the United States using county-level panel data. We investigate the impact of the relative size of the self-employment sector measured by the share of non-farm proprietorships (NFPs) in total full and part-time employment on three key economic performance indicators. We first estimate an income growth model to analyse the effects of self-employment on income growth. Then we investigate the independent effects of self-employment on employment growth and changes in family poverty rates. Our results indicate that higher self-employment rates are associated with statistically significant increases over time in income and employment growth, and reductions in poverty rates in non-metro counties. We find similar effects on metro county income and employment, but not on poverty dynamics. © 2011 the author(s). Papers in Regional Science.


Arzaghi M.,American University of Sharjah | Rupasingha A.,Federal Reserve Bank of Atlanta
Journal of Regional Science | Year: 2013

This paper extends the utility maximization model of migration by introducing income and unemployment-related uncertainties as determinants of utility, and analyzes the effects of the informational advantages of migrants. The paper maintains that migration would expand an individual's economic choices and opportunities and allow diversification. Consequently, diversification advantages influence the location decisions of migrants, an effect captured by the correlation of incomes at the origin and potential destinations.We use the discrete choice model based on random utility maximization as the framework for our empirical investigation of migration from the United States rural to urban counties. This paper takes advantage of an equivalent relation between the conditional logit model and Poisson regression to study the migration decisions using aggregate data among a large set of spatial alternatives. The results show that the diversification concerns have significant effects on location decisions of the rural-urban migrants in the United States. © 2013 Wiley Periodicals, Inc.


Patent
Federal Reserve Bank Of Atlanta | Date: 2012-02-10

Redirecting or returning international credit transfers is described. In one embodiment a system for redirecting or returning international credits is described including a gateway operator that receives a credit transfer from a foreign originator, compares routing and account numbers of the credit transfer with a predetermined table of routing and account numbers, and forwards the credit transfer based on the comparison of the routing and account numbers with the predetermined table, an Automated Clearing House (ACH) that presents the credit transfer to a Receiving Depository Financial Institution (RDFI) for clearing and settlement, and a wire transfer service that presents the credit transfer to the RDFI for clearing and settlement. In another embodiment a method for redirecting or returning international credits is described.


News Article | December 15, 2016
Site: globenewswire.com

FITZGERALD, Ga., Dec. 15, 2016 (GLOBE NEWSWIRE) -- Colony Bankcorp, Inc. (Nasdaq:CBAN) today announced redemption of 5,000 shares of its Cumulative Perpetual Preferred Stock ($1,000 Par Value).  Total principal payment will be $5,000,000 and leave the company with 9,360 preferred shares outstanding.  This action was in concurrence with both Georgia Department of Banking and Finance and Federal Reserve Bank of Atlanta.  “This will be immediately accretive to EPS,” said Ed Loomis, President and Chief Executive Officer.  “In 2017, we intend to exercise our option to redeem additional shares of the preferred stock that has a current dividend rate of 9 percent.”

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