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The Central Rhode Island Chamber of Commerce will be recognizing its annual winners for their achievements on the part of local businesses and their leaders at the Rising Above the Rest Awards Breakfast. The ceremony will take place Nov. 9 at the Sheraton Providence Airport Hotel from 8 a.m. to 9:15 a.m.
"It gives us great pleasure to honor these outstanding business leaders," Lauren Slocum, Chamber President/CEO said in a statement. "We hope the community will join us on Friday morning as we celebrate the accomplishments these individuals, companies and advocates have made."
This year's winner of The Al Andrews Community Achievement Award, the highest award given out, is Stephen Hinger, of Drum Rock Products.
Started in 1950 by the McCabe family, Drum Rock Products is a Warwick-based company responsible for manufacturing batter/breader, fritter and clam cake mixes. Their name derives from a three-ton stone believed to have been put in place by Narragansett Indians hundreds of years ago, which they claimed had the ability to "send signals." In 1984 George Pesce and Arnie Brier of Commercial Realty formally donated the Drum Rock to the city of Warwick.
By 1993, Hinger took the reigns, becoming president and owner of Drum Rock Products. His investment in new "state of the art blending and packaging equipment" helped expand Drum Rock's customer base significantly, with many successful chain restaurants across the country keeping Drum Rock products in stock as well.
While he is certainly an influential and successful businessman, Hinger is equally involved in the community, donating his time and resources to nonprofit organizations, often anonymously. He's earned himself the reputation as someone more concerned with supporting the mission of the programs than receiving personal attention for his generosity.
"He is always giving back to the community," Slocum said. "It seems like every week there is some organization he is giving to."
Hinger is also an active member in the Boy Scouts of America Association, as well as the Rotary Club of Warwick. It is fitting given his quiet, unselfish demeanor, that he was not available for comment regarding his upcoming award.
Other award recipients will include Dancin' Feelin' Ltd. For Business of the Year; Geoff Schoos of the RI Center for Law and Public Policy for Not-For-Profit Business Person of the Year; Coastway Community Bank for Volunteer of the Year; and more.
Those who are interested in purchasing tickets or have additional questions should call 732-1100 or visit www.centralrichamber.com.


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Feb. 18, 2007
The Bisons win streak stretched to five on Sunday, February 18, with a double-header sweep of Chicago State.
Chicago State took a lead for the first time in the series with three runs in the fourth inning of game one.
The Bisons pulled to within one with two runs of their own in the bottom of the inning. Casey Bond led off with a single only to be erased on a groundout by Caleb Joseph. Justin Sanders followed with a single through the right side to put runners on first and second. An error by the Cougars second basemen loaded the bases with one out. After Andrew Kincaid struck out, both runners would score on a wild pitch which resulted in an error by the Cougar's catcher.
Lipscomb pulled ahead the next inning with three more runs. Ben Williams and Joseph recorded RBIs in the inning. Joseph stole home for the third run of the inning.
Four more Bisons' runs crossed the plate in the sixth inning, highlighted by a two run homer from Bond, the Bisons' first homerun of the season.
Left-hander Rex Brothers received the start for the Bisons. In five innings he gave up three runs on three hits while striking out five to earn his first win of the season.
Freshman Taylor Merry closed out the game with two hitless innings to earn his second save of the season, in the Bisons 9-3 victory.
Senior right-hander Matt Schnelly took the mound for the Bisons in game two, an 8-5 win. Schnelly earned the team's first win of the year in Sunday's 5-1 win against Evansville.
The Bisons got on the board first with a run in the bottom of the fourth. With one out, Bond tripled to right center. He would score one batter later, on a sacrifice fly by Joseph.
The Cougars pulled ahead with two runs in the top of the fifth.
Lipscomb tied the game in the bottom of the inning on an RBI sacrifice fly by Branden Cadavid.
However, two errors in the sixth, led to three Cougar' unearned runs and a 5-3 Chicago State lead.
The Bisons regained the lead for good with six runs in the bottom of the inning. The big blow was a three run double off the bat of Kincaid.
Right-hander Brandon McClurg relieved Schnelly to close out the game and earn his first save of the year. In five innings, Schnelly gave up five runs, only one of which was earned. Schnelly recorded the win to bring his record to 2-0. His ERA now stands at an impressive 1.64.
"We made some errors, but we really pulled it together there at the end," Schnelly said. "Errors are going to happen, so you just have to be prepared to step it up and deal with it. After losing the first two games of the season, we have really displayed a lot of improvement as a team. Hopefully we can keep it up, keep working hard, and continue our win streak against Vandy on Wednesday."
The Bisons are back in action against Vanderbilt on Wednesday, February 21.

subset: commoncrawl


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Frimit Bursztyn
Born: April 15, 1918
Warsaw, Poland
Frimit was one of eight children born to Yiddish-speaking, religious Jewish parents. The Bursztyns lived in the heart of the same Jewish neighborhood in Warsaw where Frimit's father owned and operated a bakery located on Zamenhofa Street. In 1920 the Bursztyns moved to a comfortable, two-bedroom apartment in the same neighborhood at 47 Mila Street. Frimit attended Warsaw public schools.
1933-39: By 1939 six of my brothers and sisters had already moved out. Only my younger brother and I were left at home, and we were enjoying our parents' undivided attention. I had finished school and had lots of friends. My father had given up his business and was working at Warsaw's excellent Kagan Bakery. Nothing could have prepared us for the German invasion in September 1939. Our city was surrendered on September 28.
1940-44: Our apartment was in the heart of the Warsaw ghetto, which was closed off by the Germans in November 1940. I was deported on May 1, 1943, to the Majdanek concentration camp. There, smoke from the crematoria clouded the skies and hung over the prisoners. My fingers became broken and disfigured as, day after day, I and five other women pushed a heavy wagon filled with manure across the fields surrounding the camp. If we worked too slowly, we were flogged with a bullwhip. We fertilized those fields with our bare hands.
Over the next two years Frimit was deported to seven more Nazi camps. She was liberated in the Turkheim labor camp on April 27, 1945. In 1949 she immigrated to the United States.


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Cyclo-cross may be booming in the US but even the biggest domestic teams are still a far cry from the professional outfits found in Belgium. A case in point are Rapha-Focus who, while far from unassuming, run their service course out of their field manager Brian Dallas's two-car garage.
Dallas graciously gave us a tour of the garage and the team's Mercedes Sprinter van, which between them hold all of the squad's race equipment, from their 10 Focus Mares Race Series bikes to their 64 Easton EC90SL Dugast-wrapped tubular wheels, along with plenty of spare parts, tools and equipment to keep everything running smooth and fast.
The garage is heated, for working in the winter, and built out with two workstations and dedicated storage for the team's wheels and bikes. On race weekends, the squad load their seven pop-up tents and eight race bikes into the van. This is equipped with a full workstation, a wheel wall to hold 32 wheels, a pressure washer and 50 gallons of water, so as to be self sufficient at the race venue.
Rapha-Focus's team field manager, Brian Dallas
Rapha-Focus riders raced the firsttwo rounds of the UCI Cyclo-cross World Cup in the Czech Republic, the first international test for the young US-based outfit. Each rider took two bikes, with wheels. Jeremy Powers and team mechanic Tom Hopper took six sets of wheels; three with Dugast Typhoon tires and three with Rhino mud tires.
Each wheel is numbered, as is each hook—everything has its place and it's apparent what's missing
"There's a team that's sponsored by Focus in Germany called MIG, or Made in Germany, and they're helping us out with infrastructure: trainers, tents and moving stuff around while we're over there for the first two races," said Dallas. "The idea is to get some World Cups behind us, see if we can grab some [UCI] points, and season out some of the riders."
Though the first overseas test for the young team, it'll surely be considered a success after Powers took 10th at the opening World Cup round in Plzen. "Our program is really young, we're only two years into it," said Dallas. "This is a big trip, it's a big deal."
For lots more photos of the Rapha-Focus service course, check out our massive image gallery.
This article originally appeared on BikeRadar


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Dead or AliveLarge Print - 2011
From the critics
Community Activity
CommentAdd a Comment
Clancy is suffering from too much success. His editors no longer trim his books down to remove the 100 or so pages of dialogue and narration entered for padding and not contributing to plot movement, characterization, anything except more pages to flip past to get where it moves again.
Not as good as his other books I've read. Not as much action, too much cyberspace talk about coding and decoding computer languanges so I didn't get much out of that.
Typical Clancy book. What he takes 800 pages to say, can be said in 350. Even the most minor character is expounded upon to take up a whole chapter. My god, get on with it, the character gets killed off quickly and you have the impression that this background story could have been told in less than 500 words. Bottom line, too much information (TMI). I don't care what store is on what street, and what direction the hero is going. GET ON WITH IT.
Very good book...Clancy brings together his most trusted and respectable characters to date...he brings both action, suspense, and humor together!
Dead or Alive has the elaborate criminal plots and familiar characters that are so characteristic of a Tom Clancy techno-thriller. In and of itself, it's a decent story. However, since the elder Ryan became President in Executive Orders, Clancy's novels have become virtual wish-fulfilment fantasies, with Ryan (or the Campus) standing in as Mary Sues. The didactic, how-I-would-run-things elements have, since then, weakened the stories as a whole (excepting the intense Rainbow Six.
Dead or Alive sets itself up neatly for a sequel (which Clancy's latest, Against All Enemies is apparently not). This was an enjoyable enough read, but I yearn for Clancy's glory days of Clear and Present Danger or The Sum of All Fears. I also wonder why he has started working with co-authors (Grant Blackwood for this book and its predecessor, and Peter Telep for the latest), since I don't perceive that the style or substance of his novels has changed much. Is this perhaps how he manages to crank out one of these 2-inch-thick volumes twice a year?
i read somewhere that he had an ugly divorce settlement and she got proceeds of future books.. not sure how much of the proceeds... so he co-authors to avoid the settlement ... wonder if that means he is part of the book in background and name only.... further reseach is required to verify though
I thought it was simply okay but definitely not even close to the really good Clancy books
I've been dedicatedly reading Tom Clancy since Red October.
Yup, DOA is a fast read alright and only moderately recommended for the diehard TC fan.
Even with a co-author, the latest TC is a watered down version from his post cold war epics of the 80s and 90s. At 950 pgs, I was hoping that the ending wouldn't be another rush job like TC other recents. Unfortunately, DOA leaves the reader kinda hanging yet again.
So much more could have and should have been written. Although the Campus ultimately captures the Emir, the terrorist's plan partially succeeds. So what about what the psychological impacts of the Heartland attacks on the nation, what about the fall-out to the Kealty administration, what about Ryan Sr re-ascension to POTUS, and yes the Campus succeeds in capturing the most wanted terrorist in the world, trumping all other agencies and militaries, yet nobody questioning or digging for their identity? And the build up of Sgt Driscoll, it would have been great to showcase the Special Forces Ranger's skills and even maybe teach something "new school" to Clark and Chavez, or even a scene with Driscoll and Kealty, the latter who tried to make an example out of the Ranger.
DOA is a missed opportunity. The Ryan/Clark universe could probably go on without TC at the helm. But TC owed it to his legacy and his rich character universe to personally wrap his stories more satisfactorily. Having waited 7 years of DOA to arrive on the bookshelf, I just haven't got any hoo-rah left anymore.
Clancy's better days are well behind him, as this book clearly demonstrates. He's still running with the worst case scenario, which can be a good thing, but as usual, spends far too much time explaining little bits of technology or facts that fascinate him but distract the reader. If he refrained from that, he could chop a couple hundred pages off the total. If not more.
He continues to mess around with his own continuity in this book, trying to fit real-world situations like 9/11 and his own right wing politics in, using an Osama-stand in called the Emir as his villain in a coordinated attack in America's heartland, one designed to cripple the US.
If you want to read some good Clancy, pick up one of the earlier books.
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Can you locate the lost giraffe? Input coordinates to help you search and find the giraffe in the fewest guesses.
Draw some isosceles triangles with an area of $9$cm$^2$ and a vertex at (20,20). If all the vertices must have whole number coordinates, how many is it possible to draw?
On the graph there are 28 marked points. These points all mark the vertices (corners) of eight hidden squares. Can you find the eight hidden squares?
Can you find a reliable strategy for choosing coordinates that will locate the robber in the minimum number of guesses?
Can you describe this route to infinity? Where will the arrows take you next?
The triangle OMN has vertices on the axes with whole number co-ordinates. How many points with whole number coordinates are there on the hypotenuse MN?


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We are what we repeatedly do
We're publishing the shortlisted entries to the 2012 Wellcome Trust Science Writing Prize. Here, Dave MacLeod on what our habits tell us about ourselves.
Imagine how difficult life would be if you couldn't develop habits. If every time you made a cup of tea, tied your shoes or left the house you had to consciously focus on every action. Life wouldn't just be difficult; it would be impossible. Fortunately, much of what we do every day can be described as habitual behaviour. Our habits define us, and whilst they might not all be desirable, habits have a clear evolutionary advantage.
The brain is constantly looking for ways to save energy. It uses more than any other organ in the body and habits allow it to work less and use less. When routine behaviour becomes habitual, its focus is freed up for other tasks. This was an evolutionary advantage for our ancestors, when a loss of attention at the wrong moment was the difference between catching dinner and becoming it. The humans who were best at forming habits became us.
When habits form, neural pathways in the brain associated with sequences of activity are integrated into a whole, in a process known in psychology as "chunking". Studies have also shown that as habits develop there is a downward shift in brainwave frequency from high-frequency gamma to low-frequency beta waves. In the brain, gamma waves are generally associated with highly attentive states, whereas beta waves are associated with a lack of movement.
A specific part of the brain associated with habit formation has been also identified: a protein known as an NMDA receptor, found on dopamine neurons. In recent experiments, researchers bred mutant mice missing the receptor, which were incapable of developing habits. When presented with a food-giving lever to push, the mutant mice pushed it and ate their fill, but showed no intention of pushing it once they were satisfied. Normal mice on the other hand kept on pushing the lever even after they were full, indicating that they had a habit that the mutant mice without NMDA failed to develop.
These receptors help to generate an electrical response when an animal is repeatedly exposed to a rewarding cue. This is what scientists believe turns ordinary learning into automatic behaviour. With no receptor present, there is no electrical response, and thus no habit forms.
The researchers also did the opposite experiment, breeding another mouse with an excess of the NMDA receptor. This mouse was able to learn faster, recognising objects better and solving mazes quicker than a normal mouse. Other experiments have shown further that a significant part of the NMDA receptor is higher in rats at birth and declines as they age – which may be one reason why younger brains are able to more easily learn new routines and absorb new information quicker.
However, our success as habit-forming creatures is a double-edged sword. We can habitually exercise, or consistently watch too much television. Most drivers unconsciously check their mirrors and put on their seatbelt before setting off while others habitually drive too fast. The flipside of our ease of forming habits is our difficulty in removing them, but by better understanding the nature of our habits we might perhaps more easily break them.
Studies have suggested that habit-breaking strategies that work by goal-setting and internal motivation are ineffective, and more successful strategies target environmental triggers. Researchers have shown that our environment rather than our willpower is often responsible for triggering our habits. For instance, the way we consume food is strongly influenced by our kitchens, tables and plates – the environment in which we eat has an effect on what kind of food we eat and how much, so reengineering our eating areas may have a more positive impact on our health than just relying on willpower alone.
Habit change strategies are also most effective when people are naturally changing their environment. In one study, participants who had recently moved were more likely to change their mode of transport than others who had not moved. This explains why, in order to increase public transport use, bus companies often supply free passes and route information to new residents in an area, since they are yet to establish relevant habits.
Advice to "know thyself" has been around a long time. By better understanding our habits we understand ourselves.
Dave MacLeod
- Wang LP, Li F, Wang D, Xie K, Wang D, Shen X, & Tsien JZ (2011). NMDA receptors in dopaminergic neurons are crucial for habit learning. Neuron, 72 (6), 1055-66 PMID: 22196339
- Chang LR, Liu JP, Zhang N, Wang YJ, Gao XL, & Wu Y (2009). Different expression of NR2B and PSD-95 in rat hippocampal subregions during postnatal development. Microscopy research and technique, 72 (7), 517-24 PMID: 19306263
- Sobal, J., & Wansink, B. (2007). Kitchenscapes, Tablescapes, Platescapes, and Foodscapes: Influences of Microscale Built Environments on Food Intake Environment and Behavior, 39 (1), 124-142 DOI: 10.1177/0013916506295574
- Neal, D., Wood, W., Labrecque, J., & Lally, P. (2012). How do habits guide behavior? Perceived and actual triggers of habits in daily life Journal of Experimental Social Psychology, 48 (2), 492-498 DOI: 10.1016/j.jesp.2011.10.011
- Wood, W., & Neal, D. (2007). A new look at habits and the habit-goal interface. Psychological Review, 114 (4), 843-863 DOI: 10.1037/0033-295X.114.4.843
- Tang YP, Shimizu E, Dube GR, Rampon C, Kerchner GA, Zhuo M, Liu G, & Tsien JZ (1999). Genetic enhancement of learning and memory in mice. Nature, 401 (6748), 63-9 PMID: 10485705
This is an edited version of Dave's original essay. Views expressed are the author's own.
Find out more about the Wellcome Trust Science Writing Prize in association with the Guardian and the Observer and read our 'How I write about science' series of tips for aspiring science writers.
Over the next couple of months, we're publishing the shortlisted essays from the 2012 competition. Read all, and the 2011 essays, in our archive.


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Saginaw Valley State University ("University") is committed to providing work and learning opportunities without regard to age, color, disability, gender identity, genetic information, height, marital status, national origin, race, religion, sex (including pregnancy), sexual orientation, veteran status, weight, or on any other basis protected by state, federal, or other applicable law, and to achieving its objectives in compliance with applicable federal, state and local laws and regulations that prohibit discrimination.
Discrimination Prohibited
It is the University's policy to treat faculty, staff and students equally without regard to any personal characteristic protected by applicable law.
Sexual and Other Harassment Prohibited
The University is committed to maintaining an environment where no individual, including, but not limited to, faculty, staff, students, applicants for employment, contractors, customers, consultants, visitors, or vendors experiences sexual harassment or harassment based on any personal characteristic protected by applicable law. The University will respond promptly to reports of violations of this policy.
The Law and the University's Policy
The law defines "sexual harassment" as unwelcome sexual advances, request for sexual favors, or verbal or physical conduct of a sexual nature when (a) submission to or rejection of such advances, requests, or conduct is made either explicitly or implicitly a term or condition of employment, education, housing or participation in any University activity; or (b) such advances, requests or conduct have the purpose or effect of unreasonably interfering with an individual's employment, education, housing or participation in any University activity by creating an intimidating, hostile, humiliating or sexually offensive environment. It is the University's policy to vigorously enforce these prohibitions.
Reports of Prohibited Conduct:
Investigation and Corrective Measures:
Retaliation in any form against an individual who reports a violation of this policy, or who provides information in the course of an investigation of a reported violation, is strictly prohibited and will not be tolerated.
The University is committed to investigating and resolving reports of violation of this policy in such a way as to maintain confidentiality to the fullest extent permitted by the circumstances and to the extent permitted by law. Individuals who report violations or who are contacted in the course of an investigation are expected to treat reports of violations or information regarding reports as strictly confidential. A breach of confidentiality may result in disciplinary action up to and including termination of employment.
Adopted 4/07/86 BC
Revised 8/12/11 PRES
Revised 4/01/15 PRES


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I haven't talked to many Chicago Bears fans who feel overjoyed that the Bears are parting ways with long-time middle linebacker Brian Urlacher.
Yet despite any hard feelings fans may have for the decision, letting go of Urlacher was necessary for the Bears to move forward.
It's undeniable that Urlacher will go down as one of the best linebackers to ever play for the Bears, which, given the team's reputation of having great linebackers, is no lighthearted statement. But the organization has changed, and Urlacher isn't the same player he was in 2006.
Ever since his surgeries for his arthritic back and MCL in 2011, Urlacher's movement has suffered. He's still managed to put up acceptable numbers, but anyone who has watched him play the past few years can't deny the man has lost his step against the league's top running backs and wide receivers.
I'll admit it's not the best timing.
With Urlacher gone, the Bears have lost two starting linebackers this offseason; Nick Roach signing with Oakland being the first. This is, no doubt, going to create some short-term pain for the Bears because I don't see them replacing the two with a new star linebacker in the immediate future.
That said, it is going to force the organization to scout and find new talent, which will be beneficial to the team in the long-run, and I think the potential benefits of that outweighs the short-term pain.
I'd rather have a team force itself to find new talent, even if it means taking the bullet for releasing a player who they know may very well give you only one more decent season.
Watching the dominance of the 2006 Bears' defense will always be a favorite sports memory of mine, but living in the past doesn't win Super Bowls. And if you haven't noticed, the NFC has only gotten tougher this offseason.
It's time to move on with a new Bears team to combat the new NFC.


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Event box
Drop-In Technology Help
Do you have questions about using computers, smartphones, tablets, or other technology? A helpful librarian will answer your technology questions at this drop-in program from noon to 2pm. You can also use our computer or iPad if you can't bring your own equipment. Please check-in at the help desk.
- Date:
- Monday, November 5, 2018 Show more dates
- Time:
- 12:00pm - 2:00pm
- Branch:
- Serramonte
- Categories:
- Adult Programs
Event Organizer
Daly City Library Administrator


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On paper we are the most complete team in the NFL. That's is what the Seahawks are after presumably signing Antoine Winfield. And it will most likely be the word of the year for your 2013 Seahawks.
Complete each workout. Complete each day. Complete each week.
Complete each play. Complete each game. Complete each win. Complete each goal.
Complete the season. Complete the post-season. Complete a Super-Bowl win.
All or Nothing. Every player, every coach, every front office personnel the Seahawks have in employment know that its... All or Nothing. That time is now, the time of greatness for every 12 who has held on that fleeting hope for a championship is now. For us, every Seahawk fan in existence, its all or nothing... we have to rise and roar for every small moment to every great occasion. We have to set the premise for the years to come. In 5 years, we can look back on this time and we can all say...
we've completed a Dynasty.


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MsMeridy on Family Tree Circles
view: full | list
Journals and Posts
Are you looking for the Australian Harker Family?
I have a chart of the family Harker, Mudd and Beattie.
If you need any information from me drop me a line..
Are you looking for theTolliday family in Australia?
Hello there,
I have a large chart of the big family of Tollidays living in Australia.
I also have access to print outs of birth, death and marriage dates including registration numbers.
I have started my family tree right back at the original immigration of widowed Jane Curtis Tolliday and her four children in 1854.
I have branches that lead from the two sons and the one daughter who have children.
I have written many journals here at Family Tree Circles. And from this I have been able to meet up with other Tollidays.
I also have a Tribal Page on the Tollidays in Australia. Here you can see everything that I have, see it growing and building up to be a very worthwhile history.
If you need any information or have something that you think may help me please contact me at your earliest convenience.
Good luck with your research.
Meredith Tolliday
AKA MsMeridy
William Charles Weir and Jane Elizabeth Tolliday
William Charles Weir was born in 1872 in Ballarat, Victoria, Australia.
He married Sarah Elizabeth Tolliday who was the daughter of John Curtis and Sarah Tolliday (nee Miles).
John was one of four children who sailed to Australia from Southhampton with his widowed mother Jane Curtis Tolliday in 1854. His siblings were William, Christiana and Elizabeth.
William and Sarah Weir were married and had children which started the Weir line of the Tolliday Clan.
William Weir passed away in 1955. His wife Sarah passed away in 1949.
Alice Tolliday and William Renkin
Alice Tolliday was the first daughter born to Frederick Numa and Rose Tolliday on 31st January 1912
She married William Renkin (Bill) on 24th August 1940 and they lived on a farm at Lima, Victoria and they raised five children. Two sons and three daughters who all live in Australia.
Alice was one of eight chidren. Four of which survive today (2007).
Alice passed away 27th March 2007. Her husband Bill passed away on 4th September 1989.
John Tolliday. Victoria, Australia
John Tolliday was one of six sons and 4 daughters born to Priscilla Martha and William Tolliday.
John was born on April 18th 1872 and was the 3rd son and the 5th child.
His siblings were-
Alice, Sarah Elizabeth, Alfred Barton, Frederick Numa, George, Priscilla Martha, William, Christiana and Nathaniel John.
He died on April 13th 1890. He was only 18.
No records of a marriage or children.
Priscilla Martha Tolliday. Victoria, Australia
Priscilla was born to William and Priscilla Martha Tolliday on 3rd February 1870. She was a school teacher but never married. Therefore she had no children. She passed away on 23rd September 1906.
She was one of ten children. She was the 4th child born.
She had three sisters and six brothers.
Her siblings were-
Alice born 1886, Sarah Elizabeth born 1883,Alfred Barton born 1879, Frederick Numa born 1876, George born 1874, John born 1872, William born 1867, Christiana born 1865, and Nathaniel John born 1863.
Nathaniel John Tolliday and Mary Jane Richardson UPDATED December 6th 2007
Nathaniel John Tolliday was the 1st child born to Priscilla and William Tolliday of Victoria in 1863.
He is named after his grandfather Nathaniel who never made it to Australia as he drowned in England. But his widow Jane Curtis Tolliday (his grandmother) and her four children (who are his aunts and uncle and father) made the huge journey on the British Empire way back in 1854-55. His father William was the 4th child of Jane and Nathaniel and born in 1837 in England.
Nathaniel John is one of ten children- four sisters Christiana, Priscilla Martha, Sarah Elizabeth and Alice and five brothers William, John, George William, Frederick Numa and Alfred Barton.
He was born on 23/10/1863 and he worked for the SR & WSC (State Rivers and Water Supply Commission of Victoria.
He married Mary Jane Richardson in 1889 and they had five children.
Four sons John Alfred, Frederick Charles, Harold James,and William and one daughter Margaret Ada.
John Alfred born in 1892 married Clara Kerr they had two children Merle Esme born 1918 and Jack Douglas born 1924. Merle married Bertram Armstrong in 1940 and Jack married Lola Missen and they had 3 boys.After Lola died at a young age in 1971 he remarried a lady called Jean West in 1972. John passed away in 1961.
Frederick Charles born in 1897 married Florence and they had 2 sons Neville William and Russell Frederick. Neville married Faye Russell and they had 3 children. Russell married Margaret Leamon and they had 6 children. Frederick passed away in 1969.
Harold James married Frances Jarvie they had 3 children Edna Joyce, Francis Lloyd, Harold Keith. Edna married William Peters, Frank married Mavis Wilson and Harold married Freda Burns. Harold passed away in 1977.
William died at 4 months old in 1887.
Margaret Ada born in 1894 married George Goldsmith.
Nathaniel John died in 1922 at Ballarat. Mary Jane died 15 years later in 1937 also at Ballarat.
Alfred Barton Tolliday and Annie Mitchell
Alfred Barton Tolliday was the 8th child born of ten to William and Priscilla Tolliday on 19th January 1879. He had five brothers, Nathaniel John, William, John, George William, Frederick Numa
and four sisters, Christiana, Priscilla Martha, Sarah Elizabeth and Alice.
He married Annie Mitchell 29th May 1908 and they had two children. Anne Florence was born in 1910 and married David Charles Heath and William Nathaniel was born in 1914 and married Mary Mitchell.
Alfred passed away 6th April 1965 and Annie passed away 17th June 1947.
William and Alice Tolliday Victoria, Australia
William Tolliday was the 3rd child of ten born to William and Priscilla Martha Tolliday who lived in Victoria.
His father William was one of the original Tollidays that came to Australia in 1855. This William emigrated with his mother Jane Curtis Tolliday, his two sisters Elizabeth and Christiana, and older brother John.
William married Alice Harris and they had three children.
Edith Elsie born 1/7/1898 in Darnum married Clarence Collings.
Leslie Harris born 1896 and died 1980. He married Mary Stuart in 1916.
They had five children. Margaret, Ian William, William, Beryl and Leslie Harris Stuart.
Eric William born 10/3/1894 and died 19/7/1982. He married Elsie Mavis Balding who was born in 1897.
They had three sons. Neil Robert, Brian William and Alan James.
Leonard Mudd Harker and Mary Sharp of Australia updated June 2008
Leonard Mudd Harker was born in York.
His father was Simon Harker and his mother was Margaret Mudd.
You will see the name Mudd repeated in many generations linking children to the past.
Leonard and Mary Harker had 8 children.
Margaret Ann Harker who married John William Boyd in 1858.MRN 1557
John Harker who married Margaret Shade
Elizabeth Harker who married Henry Casey
Mary Harker who married Richard Wright
Thomas Harker born 1854 BRN 3744. Died 1862.
Thomas Harker
Simon Harker who married Margaret Beattie
Leonard Hird Harker born 1860 BRN 16864
Families sometimes gave the same name to a new baby after losing a previous one. Hence there are two Thomas boys in this family.
I am not sure what age the first one died. And it looks like the second Thomas didn't marry or have any children.
Leonard Mudd Harker died aged 58 in 1865. DRN 6070.
Simon Harker and Margaret Beattie were the parents of Hilda Elizabeth Harker who married Tim Corboy. These are my husband's grandparents.
We live in Victoria, Australia.
More dates and details to follow.


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"Some people look at a city's sales tax and use that as a gauge for
how the local economy is doing," Nannette Pogue, the city clerk said
Tuesday. If that's the case then Dodge City's economy is doing just
"Some people look at a city's sales tax and use that as a gauge for how the local economy is doing," Nannette Pogue, the city clerk said Tuesday. If that's the case then Dodge City's economy is doing just fine. So far year-to-date, sales tax has increased in Dodge 8.21 percent over last year. Dodge City's sales tax is 8.95 cents. "Sales tax is made up of several different things," Pogue, "there's the state tax, which is 6.3, the city tax 1.0, the county, 1.5 and the special district tax, .15." Of all those taxes the city receives the city sales tax, and a portion of the county tax. They have received $4,515,592 from the city sales tax and $3,230,376 from their portion of the county sales tax. Pogue attributes the increase to several different things. "Prices have gone up, and that's part of why our sales tax has increased," she said. "But our hotels have been full consistently, there's more business here in Dodge and there have been a lot of events throughout the year that have brought people here." One of the most successful months was September, when businesses were reporting their sales for August, which of course was when Dodge City Days took place. July was another big month for the city, probably due to tourist season really taking off in June, and March was also a good month, Pogue said she's not sure what happened to make sales increase then though. Half of the money the city receives from the sales tax goes towards what they call the 'general fund'. This includes the police department, fire department, and other city services. "We don't break the money up more than that," Pogue said. "We just put half into that general fund." The other half goes towards 'Why Not Dodge? projects, such as Legends Field, the race track, the arena and conference center. Pogue also noted that the city hasn't raised its sales tax in a number of years, and it is about 25 percent of the revenue collected by the city.


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IQA Releases Special Hunger Games District 9 3/4 T-Shirt
Mar 14, 2012
Our friends at the IQA, International Quidditch Association, have designed and released a special T-Shirt to add a bit of the Harry Potter style for the upcoming "Hunger Games" film release. Available in both men's and women's sizes, the T-Shirt is made out of deep heather green soft-style cotton and features a combination of the snitch above crossed broomsticks with a touch of Mockingjay pin essence for Hunger Games fans as well. By purchasing this shirt for $19.99, you will be supporting the IQA and its future Quidditch organizing activities as a 501c(3) non-profit.
If you order before 7am EST Friday, March 16th and get your shirt before the film's Friday, March 23rd release.
Check back in the coming days for something special from the IQA and Leaky!


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Vancouver Canucks
@ San Jose Sharks
|2.94 (7th)
|2.69 (9th)
|3.19 (12th)
|Goals Against/Game
|2.62 (7th)
|20.3% (9th)
|25.9% (3rd)
|78.6% (10th)
|79.4% (9th)
Fast Facts
> Smart and Stoic: Game three was lost in the first seven minutes of the game. Ehrhoff was at fault for the Marleau PPG tally to open the game and sat for four minutes for highsticking that caused the game to be out of reach quickly. Besides staying out of the box, Vancouver can't allow San Jose to take the early lead for a fouth straight game. Losing Ehrhoff is a huge blow offensively and Rome has been quietly efficient in his own end, but this is hopefully where losing Grabner is going to pay off. Ballard is a step up from Rome and Alberts can play strongly in his own end, but the onus will be heavier on Edler and Bieksa to produce from the back end. Up front there are no excuses for the Sedins, Burrows, the Kesler line and the Lapierre line to fail at ES; they need to keep their feet moving and bring the game back into the Sharks end. Luongo needs to be much stronger too. Vancouver can have some confidence they made something out of nothing by the third period on Friday, but only a complete effort will send them home with a commanding lead and not a split series.
> More Of The Same:
McLellan got everything he wanted out of his team on Friday: strong start, excellent special teams, composure (mostly) and a win in front of the home crowd. Getting Clowe involved in the scoring as well as strong games from Marleau, Thornton and Boyle is exactly what the doctor ordered. Niemi had a strong game too and shouldn't be faulted for Vancouver's spirited third period comeback effort. San Jose has to execute the same today: stay out of the box, make Vancouver fallable and school them on special teams. Should Eager make a return and, for that matter, McGinn?
Couture should suit up while Demers remains out.
> Impress Your Friends With Knowledge!: Ryan Kesler has handed the torch off to Kevin Bieksa who has four points (3G, 1A) in three games in addition to 11 PIMs, 15 hits and five blocked shots.
* – Orcas can inflict "tonic immobility" on sharks – a natural state of paralysis – by holding them upside down and rendering them incapable of any offensive attack.


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July 11, 1997
SUBJECT: Risk Management and Capital Adequacy of Exposures Arising from Secondary Market Credit Activities
Introduction and Overview
In recent years, some banking organizations have substantially increased their secondary market credit activities such as loan syndications, loan sales and participations, credit derivatives, and asset securitizations, as well as the provision of credit enhancements and liquidity facilities to such transactions. These activities can enhance both credit availability and bank profitability, but managing the risks of these activities poses increasing challenges. This is because the risks involved, while not new to banking, may be less obvious and more complex than the risks of traditional lending activities. Some secondary market credit activities involve credit, liquidity, operational, legal, and reputational risks in concentrations and forms that may not be fully recognized by bank management or adequately incorporated in an institution's risk management systems. In reviewing these activities, supervisors and examiners should assess whether banking organizations fully understand and adequately manage the full range of the risks involved in secondary market credit activities.
The heightened need for management attention to these risks is underscored by reports from examiners, senior lending officer surveys, and discussions with trade and advisory groups that have indicated that competitive conditions over the past few years have encouraged an easing of credit terms and conditions in both commercial and consumer lending. In addition, indications are that some potential participants in loan syndications have felt it necessary to make complex credit decisions within a much shorter timeframe than has been customary. Although the recent easing may not be imprudent, the incentives and pressures to lower credit standards have increased as competition has intensified and borrowers have experienced generally favorable business and economic conditions. Supervisors and bank management alike should remain alert to the possibility that loan performance could deteriorate if certain sectors of the economy experience problems. The recent rise in consumer bankruptcies, credit card delinquencies, and credit charge-offs illustrates this concern. These types of developments could have significant implications for the risks associated with secondary market credit activities.
This letter identifies some of the important risks involved in several of the more common types of secondary market credit activities. It also provides guidance on sound practices and discusses special considerations supervisors should take into account in assessing the risk management systems for these activities. A copy of this letter should be sent to each state member bank, bank holding company, Edge corporation, and U.S. branch or agency of a foreign bank. A suggest transmittal letter is attached.
A fundamental principle advanced by this guidance is that banking institutions should explicitly incorporate the full range of risks of their secondary market credit activities into their overall risk management systems. In particular, supervisors and examiners should determine whether institutions are recognizing the risks of secondary market credit activities by: 1) adequately identifying, quantifying, and monitoring these risks; 2) clearly communicating the extent and depth of these risks in reports to senior management and the board of directors and in regulatory reports; 3) conducting ongoing stress testing to identify potential losses and liquidity needs under adverse circumstances; and 4) setting adequate minimum internal standards for allowances or liabilities for losses, capital, and contingency funding. Incorporating secondary market credit activities into banking organizations' risk management systems and internal capital adequacy allocations is particularly important since the current regulatory capital rules do not fully capture the economic substance of the risk exposures arising from many of these activities.
Failure to understand adequately the risks inherent in secondary market credit activities and to incorporate them into risk management systems and internal capital allocations may constitute an unsafe and unsound banking practice.
This guidance applies to the secondary market credit activities conducted by state member banks, bank holding companies, Edge corporations and U.S. branches and agencies of foreign banks.1 For purposes of this guidance, secondary market credit activities include, but are not limited to, loan syndications, loan participations, loan sales and purchases, credit derivatives, asset securitization, and both implied and direct credit enhancements that may support these or the related activities of the institution, its affiliates, or third parties. Asset securitization activities refer to issuance, underwriting, and servicing of asset-backed securities; provision of credit or liquidity enhancements to securitized transactions; and investment in asset-backed securities. This guidance builds on, supports, and is fully consistent with existing guidance on risk management issued by the Federal Reserve.2
Improvements in technology, greater standardization of lending products, and the use of credit enhancements have helped to increase dramatically the volume of loan syndications, loan sales, loan participations, asset securitizations, and credit guarantees undertaken by commercial banks, affiliates of bank holding companies, and some U.S. branches and agencies of foreign banks. In addition, the advent of credit derivatives permits banking organizations to trade credit risk, manage it in isolation from other types of risk, and maintain credit relationships while transferring the associated credit risk. These developments have improved the availability of credit to businesses and consumers, allowed management to better tailor the mix of credit risk within loan and securities portfolios, and helped to improve overall bank profitability.
At the same time, however, certain credit and liquidity enhancements that banking organizations provide to facilitate various secondary market credit activities may make the evaluation of the risks of these activities less straightforward than the risks involved in traditional banking activities in which assets are held in their entirety on the balance sheet of the originating institution. These enhancements, or guarantees, generally manifest themselves as recourse provisions, securitization structures that entail credit-linked early amortization and collateral replacement events, and direct credit substitutes such as letters of credit and subordinated interests that, in effect, provide credit support to secondary market instruments and transactions.3
The transactions that such enhancements are associated with tend to be complex and may expose institutions extending the enhancements to hidden obligations that may not become evident until the transactions deteriorate. In substance, such activities move the credit risk off the balance sheet by shifting risks associated with traditional on-balance-sheet assets into off-balance-sheet contingent liabilities. Given the potential complexity and, in some cases, the indirect nature of these enhancements, the actual credit risk exposure can be difficult to assess, especially in the context of traditional credit risk limit, measurement, and reporting systems.
Moreover, many secondary market credit activities involve new and compounded dimensions of reputational, liquidity, operational and legal risks that are not readily identifiable and may be difficult to control. For example, recourse provisions and certain asset-backed security structures can give rise to significant reputational and liquidity risk exposures and ongoing management of underlying collateral in securitization transactions can expose an institution to unique operating and legal risks.
Accordingly, for those institutions involved in providing credit enhancements in connection with loan sales and securitizations, and those involved in credit derivatives and loan syndications, supervisors and examiners should assess whether the institutions' systems and processes adequately identify, measure, monitor, and control all of the risks involved in the secondary market credit activities. In particular, the risk management systems employed should include the identification, measurement, and monitoring of these risks as well as an appropriate methodology for the internal allocation of capital and reserves. The stress testing conducted within the risk measurement element of the management system should fully incorporate the risk exposures of these activities under various scenarios to identify their potential effect on an institution's liquidity, earnings, and capital adequacy. Moreover, management reports should adequately communicate to senior management and the board of directors the risks associated with these activities and the contingency plans that are in place to deal with adverse conditions.
Credit Risks in Secondary Market Credit Activities
Institutions should be aware that the credit risk involved in many secondary market credit activities may not always be obvious. For certain types of loan sales and securitization transactions, a banking organization may actually be exposed to essentially the same credit risk as in traditional lending activities, even though a particular transaction may, superficially, appear to have isolated the institution from any risk exposure. In such cases, removal of an asset from the balance sheet may not result in a commensurate reduction in credit risk. Transactions that can give rise to such instances include loan sales with recourse, credit derivatives, direct credit substitutes, such as letters of credit, and liquidity facilities extended to securitization programs, as well as certain asset securitization structures, such as the structure typically used to securitize credit card receivables.
Loan Syndications - Recently, the underwriting standards of some syndications have been relaxed through the easing or elimination of certain covenants or the use of interest-only arrangements. Bank management should continually review syndication underwriting standards and pricing practices to ensure that they remain consistent over time with the degree of risk associated with the activity and the potential for unexpected economic developments to affect adversely borrower creditworthiness.
In some cases, potential participants in loan syndications have felt it necessary to make decisions to commit to the syndication within a shorter period of time than is customary. Supervisors and examiners should determine whether syndicate participants are performing their own independent credit analysis of the syndicated credit and make sure they are not placing undue reliance on the analysis of the lead underwriter or commercial loan credit ratings. Banking organizations should not feel pressured to make an irrevocable commitment to participate in a syndication until such an analysis is complete.
Credit Derivatives - Credit derivatives are off-balance sheet financial instruments that are used by banking organizations to assume or mitigate the credit risk of loans and other assets.4 Banking organizations are increasingly employing these instruments either as end-users, purchasing credit protection from--or providing credit protection to--third parties, or as dealers intermediating such protection. In reviewing credit derivatives, supervisors should consider the credit risk associated with the reference asset, as well as general market risk and the risk of the counterparty to the contract.
With respect to credit derivative transactions where banking organizations are mitigating their assets' credit risk, supervisors and examiners should carefully review those situations where the reference assets are not identical to the assets actually owned by the institutions. Supervisors should consider whether the reference asset is an appropriate proxy for the loan or other asset whose credit exposure the banking organizations intend to offset.
Recourse Obligations and Direct Credit Substitutes - Partial, first loss recourse obligations retained when selling assets, and the extension of partial credit enhancements (e.g., 10 percent letters of credit) can be a source of concentrated credit risk by exposing institutions to the full amount of expected losses on the protected assets. For instance, the credit risk associated with whole loans or pools of assets that are sold to secondary market investors can often be concentrated within the partial, first loss recourse obligations retained by banking organizations selling and securitizing the assets. In these situations, even though institutions may have reduced their exposure to catastrophic loss on the assets sold, they generally retain the same credit risk exposure as if they continued to hold the assets on their balance sheets.
In addition to recourse obligations, institutions assume concentrated credit risk through the extension of partial direct credit substitutes such as through the purchase of subordinated interests and extension of letters of credit. For example, banking organizations that sponsor certain asset-backed commercial paper programs, or so-called "remote origination" conduits, can be exposed to high degrees of credit risk even though it may seem that their notional exposure is minimal. Such a remote origination conduit lends directly to corporate customers referred to it by the sponsoring banking organization that used to lend directly to these same borrowers. The conduit funds this lending activity by issuing commercial paper that, in turn, is guaranteed by the sponsoring banking organization. The net result is that the sponsoring institution has much the same credit risk exposure through this guarantee as if it had made the loans directly and held them on its books. However, such credit extension is an off-balance-sheet transaction and the associated risks may not be fully reflected in the institution's risk management system.
Furthermore, banking organizations that extend liquidity facilities to securitized transactions, particularly asset-backed commercial paper programs, may be exposed to high degrees of credit risk which may be subtly embedded within the facilities' provisions. Liquidity facilities are commitments to extend short-term credit to cover temporary shortfalls in cash flow. While all commitments embody some degree of credit risk, certain commitments extended to asset-backed commercial paper programs in order to provide liquidity may subject the extending institution to the credit risk of the underlying asset pool, often trade receivables, or of a specific company using the program for funding. Often the stated purpose of such liquidity facilities is to provide funds to the program to retire maturing commercial paper when a mismatch occurs in the maturities of the underlying receivables and the commercial paper, or when a disruption occurs in the commercial paper market. However, depending upon the provisions of the facility--such as whether the facility covers dilution of the underlying receivable pool--credit risk can be shifted from the program's explicit credit enhancements to the liquidity facility.5 Such provisions may enable certain programs to fund riskier assets and yet maintain the credit rating on the program's commercial paper without increasing the program's credit enhancement levels.
Asset Securitization Structures - The structure of various securitization transactions can also result in an institution retaining the underlying credit risk in a sold pool of assets. Examples of this contingent credit risk retention include credit card securitizations where the securitizing organization explicitly sells the credit card receivables to a master trust, but, in substance, retains the majority of the economic risk of loss associated with the assets because of the credit protection provided to investors by the excess yield, spread accounts, and structural provisions of the securitization. Excess yield provides the first level of credit protection that can be drawn upon to cover cash shortfalls between the principal and coupon owed to investors and the investors' pro rata share of the master trust's net cash flows. The excess yield is equal to the difference between the overall yield on the underlying credit card portfolio and the master trust's operating expenses.6 The second level of credit protection is provided by the spread account, which is essentially a reserve funded initially from the excess yield.
In addition, the structural provisions of credit card securitizations generally provide credit protection to investors through the triggering of early amortization events. Such an event usually is triggered when the underlying pool of credit card receivables deteriorates beyond a certain point and requires that the outstanding credit card securities begin amortizing early in order to pay off investors before the prior credit enhancements are exhausted. As the early amortization accelerates the redemption of principal (paydown) on the security, the credit card accounts that were assigned to the master credit card trust return to the securitizing institution more quickly than had originally been anticipated, thus, exposing the institution to liquidity pressures and any further credit losses on the returned accounts.
Reputational Risks
The secondary market credit activities of many institutions may also expose them to significant reputational risks. Loan syndication underwriting may present significant reputational risk exposure to lead underwriters because syndicate participants may seek to hold the lead underwriter responsible for actual or perceived inadequacies in the loan's underwriting even though participants are responsible for conducting an independent due diligence evaluation of the credit. Such risk may be compounded by the rapid growth of new investors in this market, usually nonbanks that may not have previously endured a downturn in the loan market.
There is the potential that pressure may be brought to bear on the lead participant to repurchase portions of the syndication if the credit deteriorates in order to protect its reputation in the market even though the syndication was sold without recourse. In addition, the deterioration of the syndicated credit also exposes the lead organization to possible litigation, as well as increased operational and credit risk. One way to mitigate reputational risk with respect to syndications is for banking organizations to know their customers and to determine whether syndication customers are in a position to conduct their own evaluation of the credit risks involved in the transaction.
Asset securitization programs also can be a source of increasing reputational risk. Often, banking organizations sponsoring the issuance of asset-backed securities act as servicer, administrator, or liquidity provider in the securitization transaction. It is imperative that these institutions are aware of the potential losses and risk exposure associated with reputational risk. The securitization of assets whose performance has deteriorated may result in a negative market reaction that could increase the spreads on an institution's subsequent issuances. In order to avoid a possible increase in their funding costs, institutions have supported their securitization transactions by improving the performance of the securitized asset pool. This has been accomplished, for example, by selling discounted receivables or adding higher quality assets to the securitized asset pool. Thus, an institution's voluntary support of its securitization in order to protect its reputation can adversely affect the sponsoring/issuing organization's earnings and capital.
These and other methods of improving the credit quality of securitized asset pools have been used recently by banking organizations providing voluntary support to their securitizations, especially for credit card master trusts. Such actions generally are taken to avoid either a rating downgrade or an early amortization of the outstanding asset-backed securities.
Liquidity Risks
The existence of recourse provisions in asset sales, the extension of liquidity facilities to securitization programs, and the early amortization triggers of certain asset securitization transactions can involve significant liquidity risk to institutions engaged in these secondary market credit activities. Institutions should ensure that their liquidity contingency plans fully incorporate the potential risk posed by their secondary market credit activities. With the issuance of new asset-backed securities, the issuing banking organization should determine the potential effect on its liquidity at the inception of each transaction and throughout the life of the securities in order to better ascertain its future funding needs.
An institution's contingency plans should take into consideration the need to obtain replacement funding, and specify the possible alternative funding sources, in the event of the amortization of outstanding asset-backed securities. This is particularly important for securitizations with revolving receivables, such as credit cards, where an early amortization of the asset-backed securities could unexpectedly return the outstanding balances of the securitized accounts to the issuing institution's balance sheet. It should be recognized that an early amortization of a banking organization's asset-backed securities could impede its ability to fund itself--either through re-issuance or other borrowings--since the institution's reputation with investors and lenders may be adversely affected.
Incorporating the Risks of Secondary Market Credit Activities
Into Risk Management
Supervisors should verify that an institution incorporates in its overall risk management system the risks involved in its secondary market credit activities. The system should entail: 1) inclusion of risk exposures in reports to the institution's senior management and board to ensure proper management oversight; 2) adoption of appropriate policies, procedures, and guidelines to manage the risks involved; 3) appropriate measurement and monitoring of risks; and 4) assurance of appropriate internal controls to verify the integrity of the management process with respect to these activities. The formality and sophistication with which the risks of these activities are incorporated into an institution's risk management system should be commensurate with the nature and volume of its secondary market credit activities. Institutions with significant activities in this area are expected to have more elaborate and formal approaches to manage the risk of their secondary market credit activities.
Both the board of directors and senior management are responsible for ensuring that they fully understand the degree to which the organization is exposed to the credit, market, liquidity, operational, legal, and reputational risks involved in the institution's secondary market credit activities. They are also responsible for ensuring that the formality and sophistication of the techniques used to manage these risks are commensurate with the level of the organization's activities. The board should approve all significant polices relating to the management of risk arising from secondary market credit activities and should ensure that the risk exposures are fully incorporated in board reports and risk management reviews.
Senior management is responsible for ensuring that the risks arising from secondary market credit activities are adequately managed on both a short-term and long-run basis. Management should ensure that there are adequate policies and procedures in place for incorporating the risk of these activities into the overall risk management process of the institution. Such policies should ensure that the economic substance of the risk exposures generated by these activities is fully recognized and appropriately managed. In addition, banking organizations involved in securitization activities should have appropriate policies, procedures, and controls with respect to underwriting asset-backed securities; funding the possible return of revolving receivables (e.g., credit card receivables and home equity lines); and establishing limits on exposures to individual institutions, types of collateral, and geographic and industrial concentrations. Lead banking organizations in loan syndications should have policies and procedures in place that address whether or in what situations portions of syndications may be repurchased. Furthermore, banking organizations participating in a loan syndication should not place undue reliance on the credit analysis performed by the lead organization. Rather, the participant should have clearly defined policies and procedures to ensure that it performs its own due diligence in analyzing the risks inherent in the transaction.
An institution's management information and risk measurement systems should fully incorporate the risks involved in its secondary market credit activities. Banking organizations must be able to identify credit exposures from all secondary market credit activities, and be able to measure, quantify, and control those exposures on a fully consolidated basis. The economic substance of the credit exposures of secondary market credit activities should be fully incorporated into the institution's efforts to quantify its credit risk, including efforts to establish more formal grading of credits to allow for statistical estimation of loss probability distributions. Secondary market credit activities should also be included in any aggregations of credit risk by borrower, industry, or economic sector.
It is particularly important that an institution's information systems can identify and segregate those credit exposures arising from the institution's loan sale and securitization activities. Such exposures include the sold portions of participations and syndications; exposures arising from the extension of credit enhancement and liquidity facilities; the effects of an early amortization event; and the investment in asset-backed securities. The management reports should provide the board and senior management with timely and sufficient information to monitor the institution's exposure limits and overall risk profile.
Stress Testing
The use of stress testing, including combinations of market events that could affect a banking organization's credit exposures and securization activities, is another important element of risk management. Such testing involves identifying possible events or changes in market behavior that could have unfavorable effects on the institution and assessing the organization's ability to withstand them. Stress testing should not only consider the probability of adverse events, but also likely "worst case" scenarios. Such an analysis should be done on a consolidated basis and consider, for instance, the effect of higher than expected levels of delinquencies and defaults as well as the consequences of early amortization events with respect to credit card securities that could raise concerns regarding the institution's capital adequacy and its liquidity and funding capabilities. Stress test analyses should also include contingency plans regarding the actions management might take given certain situations.
One of management's most important responsibilities is establishing and maintaining an effective system of internal controls that, among other things, enforces the official lines of authority and the appropriate separation of duties in managing the risks of the institution. These internal controls must be suitable for the type and level of risks given the nature and scope of the institution's activities. Moreover, these internal controls should provide reasonable assurance of reliable financial reporting (in published financial reports and regulatory reports), including adequate allowances or liabilities for expected losses.
Capital Adequacy
As with all risk-bearing activities, institutions should fully support the risk exposures of their secondary market credit activities with adequate capital. Banking organizations should ensure that their capital positions are sufficiently strong to support all of the risks associated with these activities on a fully consolidated basis and should maintain adequate capital in all affiliated entities engaged in these activities. The Federal Reserve's risk-based capital guidelines establish minimum capital ratios, and those banking organizations exposed to a high or above average degrees of risk are, therefore, expected to operate significantly above the minimum capital standards.
The current regulatory capital rules do not fully incorporate the economic substance of the risk exposures involved in many secondary market credit activities. Therefore, when evaluating capital adequacy, supervisors should ensure that banking organizations that sell assets with recourse, assume or mitigate credit risk through the use of credit derivatives, and provide direct credit substitutes and liquidity facilities to securitization programs, are accurately identifying and measuring these exposures and maintaining capital at aggregate levels sufficient to support the associated credit, market, liquidity, reputational, operational, and legal risks.
Supervisors and examiners should review the substance of secondary market transactions when assessing underlying risk exposures. For example, partial, first loss direct credit substitutes providing credit protection to a securitization transaction can, in substance, involve much the same credit risk as that involved in holding the entire asset pool on the institution's balance sheet. However, under current rules, regulatory capital is explicitly required only against the amount of the direct credit substitute, which can be significantly different from the amount of capital that the institution should maintain against the concentrated credit risk in the guarantee. Supervisors and examiners should ensure that banking organizations have implemented reasonable methods for allocating capital against the economic substance of credit exposures arising from early amortization events and liquidity facilities associated with securitized transactions since such facilities are usually structured as short-term commitments in order to avoid a risk-based capital requirement, even though the inherent credit risk may be approaching that of a guarantee.7
If, in the supervisor's judgment, an institution's capital level is not sufficient to provide protection against potential losses from such credit exposures, this deficiency should be reflected in the banking organization's CAMELS or BOPEC ratings. Furthermore, supervisors and examiners should discuss the capital deficiency with the institution's management and, if necessary, its board of directors. Such an institution will be expected to develop and implement a plan for strengthening the organization's overall capital adequacy to levels deemed appropriate given all the risks to which it is exposed.
Please forward this letter to each state member bank, bank holding company, Edge corporation and U.S. branch or agency of a foreign bank located in your District--a suggested transmittal letter is attached. If you have any questions, please contact Roger Cole, Deputy Associate Director (202/452-2618), Tom Boemio, Supervisory Financial Analyst, (202/452-2982) or Jim Embersit, Manager, (202/452-5249).
Richard Spillenkothen
Attached is a supervisory letter regarding the risk management and capital adequacy of secondary market credit activities such as loan syndications, loan sales and participations, asset securitizations, and the provision of credit and liquidity enhancements to such transactions. The guidance set forth in this letter highlights the concern that the risks associated with certain activities, particularly securitized transactions, may be less obvious and more complex than the risks of traditional lending activities. Moreover, some secondary market credit activities involve credit, liquidity, operational, legal and reputational risks in concentrations and forms that may not be fully recognized or incorporated in internal risk management systems. The extent of these exposures may not be entirely evident until transactions deteriorate.
The supervisory guidance notes that institutions should incorporate all of the risks arising from their secondary market credit activities into their consolidated risk management systems. The sophistication with which the risks of these activities are incorporated into an institution's risk management system should be commensurate with the nature and volume of its secondary market credit activities. In addition, the guidance indicates that banking organizations involved in secondary market credit activities should maintain adequate capital against the associated exposures and should have implemented reasonable methods for allocating capital internally.
If you have any questions about this guidance, please contact (Insert name of appropriate Reserve Bank staff.)
1. This guidance applies to U.S. branches and agencies of foreign banks with recognition that appropriate adaptations may be necessary to reflect that: 1) those offices are an integral part of a foreign bank, which should be managing its risks on a consolidated basis and recognizing possible obstacles to cash movements among branches, and 2) the foreign bank is subject to overall supervision by its home country authorities. Return to text
2. For a more detailed discussion of risk management, refer to SR letter 95-51, "Rating the Adequacy of Risk Management Processes and Internal Controls at State Member Banks and Bank Holding Companies;" SR letter 95-17, "Evaluating the Risk Management and Internal Controls of Securities and Derivative Contracts Used in Nontrading Activities;" SR letter 93-69, "Risk Management and Internal Controls for Trading Activities of Banking Organizations;" and SR letter 90-16, "Implementation of Examination Guidelines for the Review of Asset Securitization Activities." Return to text
3. Examiners should also review SR letter 96-30, "Risk-Based Capital Treatment for Spread Accounts that Provide Credit Enhancement for Securitized Receivables." In addition, banking organizations have retained the risk of loss, i.e., recourse, on sales and securitizations of assets when, in accordance with generally accepted accounting principles, they record on their balance sheets interest-only strip receivables or other assets that serve as credit enhancements. For more information, see Statement of Financial Accounting Standard No. 125, "Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities" and the instructions to the Reports of Income and Condition. Return to text
4. See SR letter 96-17, "Supervisory Guidance for Credit Derivatives," for a discussion of supervisory issues regarding credit derivatives, including the risk-based capital treatment of credit derivatives held in the banking book. SR letter 97-18, "Application of Market Risk Capital Requirements to Credit Derivatives," provides guidance on the risk-based capital treatment of credit derivatives held in the trading book. Return to text
5. Dilution essentially occurs when the receivables in the underlying asset pool--prior to collection--are no longer viable financial obligations of the customer. For example, dilution can arise from returns of consumer goods or unsold merchandise by retailers to manufacturers or distributors. Return to text
6. The monthly excess yield is the difference between the overall yield on the underlying credit card portfolio and the master trust's operating expenses. It is calculated by subtracting from the gross portfolio yield the (1) coupon paid to investors, (2) charge-offs for that month, and (3) servicing fee, usually 200 basis points paid to the banking organization sponsoring the securitization. Return to text
7. For further guidance on distinguishing, for risk-based capital purposes, whether a facility is a short-term commitment or a direct credit substitute, refer to SR letter 92-11, "Asset-Backed Commercial Paper Programs." Essentially, facilities that provide liquidity, but which also provide credit protection to secondary market investors, are to be treated as direct credit substitutes for purposes of risk-based capital. Return to text
SR letters | 1997


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I love these personal frittatas. Farm fresh eggs, local greens and tomatoes, fresh milk, and grated Parmesan. They're also incredibly impressive coming out of the oven, and don't take much to prepare to perfection. Did I mention they freeze well? What's not to love?
There's no set recipe, and I change them up a lot depending on the ingredients I have to hand and the seasons; but, the basics are:
-A small, personal tart pan
-Baking spray
-2 farm fresh eggs
-2-3 tbs. fresh milk, cream, or sour cream.
-Salt, pepper, ground mustard, cayenne. Other spices, like thyme, basil, oregano, etc. can also be added to compliment your fillings.
– Fillings of your choice. Meats should be cooked.
-2 tbs. hard cheese, finely grated (I like Parmesan or Sharp Cheddar)
Preheat oven to 350 degrees. Spray pan liberally with baking spray and place pan on cookie sheet, then spoon in about 4 tbs. filling ingredients. In separate bowl, beat together eggs, cream, and a pinch of each spice with a whisk. Stir in all but 1 tsp. of your cheese, and pour into tart pan. Sprinkle remaining cheese on top of egg mixture, and place tart pan (still on the cookie tray) into oven. Bake for 25 minutes, until a toothpick comes out clean when inserted into center. Allow to cool completely in tart pan, then gently run a butter knife around the edge of the frittata and remove from pan.
You're likely to be seeing more "individual" foods here, as Thadd's back in school and needs things he can toss into a cooler and I have clients that need something they can carry to work easily. If you've got favorite "individual" foods, share with us! Or, if there's something you'd like to see, just ask and I'll see what I can do!


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- A Treatise on Engineering Field-Work by Peter Bruff, 1838:
Containing practical land surveying for railways, &c., with the theory, principles, and practice of levelling, and their application to the purposes of civil engineering.
- Architecture and Building Records of North Carolina
This is a survey of architectural records held in repositories, government agencies, architectural firms, and private collections throughout North Carolina. The survey was completed in 1994.
- B. W. Wells Lantern Slides & Freda Wilkins Photographs of the Wells Savannah
Dr. Betram Whittier Wells took hundreds of photographs of North Carolina and beyond, converting them to lantern slides to accompany his lectures. Many of his lantern slides, dating from the 1920s and 1930s, were hand colored. North Carolina photographer Freda Wilkins has contributed another 1,000 photographs to the database, capturing four seasons of the Wells Savannah in 2005 and 2006. An exhibit commemorating Dr. Wells' life and work is available online.
- Beaux Arts to Modernism
Beaux Arts to Modernism: Early Twentieth Century Architecture in North Carolina provides access to documentation on hundreds of buildings and structures in North Carolina dating from the early to mid-1900s. "Beaux Arts," a partnership between the NCSU Libraries, the J. Murrey Atkins Library at the University of North Carolina at Charlotte, and the North Carolina State Archives, was made possible through a Library Services and Technology Act grant administered by the State Library of North Carolina.
- Built Heritage of North Carolina: Historic Architecture in the Old North State
The Built Heritage of North Carolina: Historic Architecture in the Old North State provides access to documentation on hundreds of buildings and structures in North Carolina dating from the 1700s to the early 1900s. "Built Heritage," a partnership between the NCSU Libraries and Preservation North Carolina, was made possible through a Library Services and Technology Act grant administered by the State Library of North Carolina.
- Content, Context, and Capacity
Content, Context, and Capacity, with the thematic focus of the Long Civil Rights Movement in North Carolina, is a collaborative large-scale manuscripts digitization project undertaken by the Triangle Research Libraries Network (TRLN) university libraries at Duke University, North Carolina Central University, North Carolina State University, and the University of North Carolina at Chapel Hill. Together, the partners will digitize approximately 400,000 digital objects. More information about the project is available at the TRLN website.
- Cultivating a Revolution
Cultivating a Revolution: Science, Technology, and Change in North Carolina Agriculture, 1950-1979 will provide access to film and manuscript materials that document the development of modern agricultural practice and their economic impact across the state. "Cultivating a Revolution" is made possible through a Library Services and Technology Act grant administered by the State Library of North Carolina.
- Digital Collections: Rare and Unique Materials
The NCSU Libraries' Digital Collections: Rare and Unique Materials serves as a gateway to tens of thousands of images, text, and digital media from its rich holdings. From the history of NC State to the history of North Carolina's built environment, these digital collections provide network access to collections that drive research, highlight innovation, and inspire learning.
- Dr. Metcalf: A resource on cicadas, leafhoppers, planthoppers, spittlebugs, and treehoppers
A searchable bibliographic database providing a powerful tool for retrieving the pre-computer literature (1741-1955) on cicadas, leafhoppers, planthoppers, spittlebugs, and treehoppers.
- First Temple of the Atom
Consists of ca. 150 items, 1949-1956, chiefly letters and writings of Clifford K. Beck relating to the establishment and building of the first nuclear reactor at North Carolina State College and the establishment of the Nuclear Engineering program.
- Green 'N' Growing: The history of 4-H and Home Demonstration in North Carolina
Drawing upon the rich historical records found in the University Archives, the collection provides valuable information about women, children, race relations, education, agriculture, and rural life in North Carolina during the twentieth century.
- Greenways Archive
Holdings relative to existing and proposed greenways across the United States.
- Historical State
Historical State provides online access to a diverse set of historical resources, including digitized images, course catalogs, and yearbooks; historic timelines, narratives, and online exhibits; and catalog records of books about NC State University. Patrons can use Historical State to explore the development of campus buildings, student life, athletics, and the academic colleges and departments.
- History of Forestry: The Rise of American Forestry
According to the National Register of Historic Places, the "Cradle of Forestry in America" is located in the mountains of western North Carolina, in the Pisgah National Forest....
- Living off the Land: Tobacco and Crop Science History in North Carolina, 1850-1950
Features original images and other documents relating to North Carolina's agricultural history and economy.
- Metcalf Collection
The NCSU Libraries holds two of the world's premiere entomology collections, the Metcalf Collection and the Tippmann Collection. Many of these volumes are now available as part of the Internet Archive.
- North Carolina Architects and Builders
North Carolina Architects and Builders: A Biographical Dictionary, led by architectural historian Catherine W. Bishir and launched in June 2009, chronicles the lives and works of architects, builders, and artisans who have contributed to North Carolina's rich architectural history. Each entry includes a list of buildings associated with the subject, a bibliography, and a brief biography that places the subject in the context of the state and the nation.
- Open Content Alliance Digitized Books
The Libraries has joined the Open Content Alliance (OCA) partnership to digitize its print holdings that are in the public domain. The partnership enables the Libraries to greatly expand access to its own print holdings through digitization while also enabling digital access to the content of other partner libraries.
- Raymond L. Murray Raleigh Research Reactor Project Notebook Documents
Consists of ca. 94 items, 1950-1953, chiefly letters and research of Raymond L. Murray and A. C. Menius, Jr. relating to the establishment and building of the first nuclear reactor at North Carolina State College.
- Séguy's Insectes and Papillons
Two extremely rare portfolios created by Eugene Alain (E. A.) Séguy. Produced using the pochoir technique, which entails hand coloring each plate through a large number of stencils. Portfolios consist of 23 pages each, including 16 plates and 4 pattern pages. Published 1920s.
- Some New Australian Cicadidae by Howard Ashton
Consists of 13 pages. Published 1912.
- Species insectorum: exhibentes eorum differentias specificas, synonyma auctorum, loca natalia, metamorphosin, adjectis observationibus, descriptionibus by Johan Christian Fabricius
Consists of 12 page images, from pages 318-328. Published 1781.
- Tippmann Collection
The NCSU Libraries holds two of the world's premiere entomology collections, the Metcalf Collection and the Tippmann Collection. Many of these volumes are now available as part of the Internet Archive.
- Tom Regan Animal Rights Archive
Consists of Regan's personal papers and books documenting his key role in the animal rights movement.
- WolfWalk
WolfWalk is a self-guided walking tour of the North Carolina State University campus designed for use with advanced mobile devices such as Apple's iPhone or Google Android devices. It provides information about more than fifty buildings and sites as well as historical and/or current photographs. WolfWalk works in your mobile device's browser; you do not need to download a separate application.