Welcome to the Prayer Resources page. Read below for important information about how we pray, what we're praying for, and to see examples of answered prayer!
The Holy Spirit requested a special prayer covering for Mark Taylor because he has been chosen to expose Truth in regards to people, place, and events where the enemy has strongholds. Click the button below to join the prayer chain. Note: this is not a group prayer call.
Watch the "How to Pray" video below for an introduction to how we pray so that you can be in one Spirit with us when you join the prayer calls. It is imperative to seek God's face, to humble yourself, and to consider His will in all things. Prayer isn't about us, it's about God's will, as He knows all paths that lead to righteousness. Be in God's will when you pray!
Here you'll find the latest prayers we've posted. Click on one of the red titles to read our petitions to God. Join in prayer with us for these things from where you are right now. You don't even have to wait for a prayer call! Just take a step of faith into your prayer closet and join the others who are praying these things right now.
PRAYER FOCUS: HAVE A CONTINUOUS FIRE IN THE HEART OF GOD'S ARMY!
PRAYER FOCUS: GOD ALWAYS HEARS US AND IS SOMETIMES HIDDEN BUT ALWAYS NEAR US!
PRAYER FOCUS: TRUE SACRIFICE DRAWS US CLOSER TO GOD, SO WHAT ARE YOU WILLING TO GIVE?
PRAYER FOCUS: DON'T STOP WE ARE HERE TO FINISH THE BATTLE WE ARE IN! FINISH AS JESUS DID!
PRAYER FOCUS: OPEN THE TEMPLE OF YOUR HEART TO GOD AND HE WILL FILL IT WITH HIS KAVOD: GLORY!
PRAYER FOCUS: REPENT TO CLEANSE THE TEMPLE OF AMERICA!
PRAYER FOCUS: DOING OUR PART FOR TEMPLE MAINTENANCE!
PRAYER FOCUS: PREPARE A PLACE FOR HIM, HE WANTS TO DWELL WITH US!
PRAYER FOCUS: WHAT IS OUR IMAGE OF GOD?
Our representatives and government need to repent and follow God's order. They are to govern over the people, and they must do it justly. Pray for the elections that Godly men and women are raised up to lead our nation to follow after the law that supercedes man's law. The law of God.
Ellen Diehl for Congress in Georgia!
Danny Morales for Congress in Arizona! MAGA!
Wendy Rogers for Congress in Arizona! America First!
Taking prayer into action. Praying and covering those who are moving to take back America! Go to the fight and pray for those fighting, where they are fighting. Active prayer on the ground, at the abortion clinics, at the sin parades is where it is needed most! The events and actions listed below are places YOU can go to pray and be a part of God's Army where it's needed most! Get out and have a reason to use the Armor God gave us!
Then they cried to the LORD in their trouble, and he delivered them from their distress. He made the storm be still, and the waves of the sea were hushed. Then they were glad that the waters were quiet, and he brought them to their desired haven.


I've been reading feeds on my Facebook account and what catch me most is a post from StickerDot. Eventually, I am so amazed with their post, expressing gratitudes to their client – Matt and Ryan (M&R) – who are providing real estates services in Auckland. M&R is actually purchasing Gloss Paper Stickers to them. StickerDot has always been grateful to their clients after purchasing stickers to them. They have been sharing it to the public thru to their social media accounts.
Image above is the purchased sticker from M&R. Really they have this great quality of stickers. Now, I have realized that it's not just the clients will share their reviews to the company but the company itself will show how grateful they are to their beloved consumers.
Choose the shape of your logo design. Given that the shape of your die cut sticker ought to recognize your company. This will really help to boost business brand name popularity.
Colours should stand out, not distract. The four-colour printing process may lead to awesome stickers, however you don't wish to combine so much colour to your sticker that it reduces from the original idea. Quite often, using a single or two colours is going to be just as productive for receiving thru your message.
Always keep in mind that in designing stickers, it should be easily recognize by the public and understand the message swiftly since they don' t take time reading every details on the stickers.


text:
PC Game Reviews •
journal •
Wot I Think: Journal
19th February 2014 / 5:00PM
In 2011/12, Richard Perrin and his Locked Door Puzzle studio brought us the enigmatic and fascinating Kairo. Journal is utterly dissimilar – a minimalist adventure game about teenage life and loss, driven by conversation choices rather than puzzles or inventories. As RPS's oldest teenager, here's wot I think:
The largest issue with Journal is, well, I think this Mr Show sketch cruelly says it best:
It's impossible to shake the sense that this is a story about teenage life written from the perspective of adults who think they know better. It's a sad story, and it's very obviously a personal story, and in that sense it feels awful to be critical of the project. But, critical I'm going to be. Puppies, I will stamp on them.
You play a young, probably teenage girl, rendered in pencil-crayon animation in a pencil crayon world. You walk her through a portion of her life, at home, in school, and the surrounding town, and on the way you make choices about how she responds to situations, which shapes the story as you experience it. It is, in concept, a charming idea. In delivery, however, it isn't strong enough.
This isn't a world of teenagers. It's instead a deluded Judy-Blume-esque fantasy of teenage life, where your pubescent friends endlessly pass on pearls of wisdom. For example, when you first speak to your oldest friend Elena about how much homework she does, she replies, "It's better than getting into trouble. Besides, I don't mind it. Most of it is interesting." And this No Adults Allowed vibe is really not helped by getting an obviously adult woman to voice the main teenage character.
However, perhaps the hardest narrative element to swallow here is the selective amnesia. You're playing a girl who remembers her friends, her life, her school, but has somehow forgotten particular things she said or did as recently as yesterday. So, there was a maths test a few days ago. Your character apparently doesn't know how it went, and seemingly isn't aware that she cheated on it until she talks to the person from whom she got the answers, where she is the one to bring up what she did. It's partially explained by the end, but not in a way that makes sense of things like the example above. I suppose it's an attempt to have the player discover the events as the narrative progresses, but it creates the weirdest disconnect, with the constant sense that the game is just disinterested in your comprehension of it.
There's also little logic to how choices progress. Throughout you make decisions about how you'll approach situations. Shall you push this one particular guy toward Catherine or Anne? Those are the options presented, and you're not given reason to want to do neither. Do one of the other and apparently your character is distraught, the game then only giving you options to be "bitter" or "dismissive" about the situation. Unless this is supposed to be a particularly mean parody of the fickle ways of teenage girls – which its sincere tone suggests it's not – it just doesn't make sense. Her diary entry for the day of the encouraging reads:
"It felt good to encourage Anne, even if Catherine would be furious about it. I hope she makes a decision she's happy with."
The next day she writes,
"Keith wanted to thank me for helping him find a girlfriend, but it just made me feel worse about it. I was pretty upset about what happened with Keith. I knew he didn't like me the way I liked him, but it still hurt to think about it."
Then there's the 'sage' advice, unendingly poured from adults and delivered as if in an infomercial. Like your older friend John letting you know that hey, school's not so bad!
"Trust me, I'm not so old I can't remember what it was like! But when you're older, you'll be thankful for what you learned at school."
I sat through fourteen years of ninety-percent utter rubbish, and reflect on school – at which I was mostly proficient – as a cruel waste of my time and potential. But such a notion is dismissed by the plastic-grinned nostalgia. This is a low blow, but it sounds like something someone would say on The Archers.
Bigger subjects like the main character's parents' divorce also feel clumsily handled. We're asked to believe that this is the first time she's given the break-up any depth of thought, and the way she's treated by both her mother and father seems to wildly fluctuate between the way they would talk about it to a cartoon seven year old, and to a cartoon sixteen year old. It's rife with cliché, and as a result, feels trite. This is a girl experiencing the concept of divorce in a vacuum, with no perspicacity of the ubiquity of the circumstances. So rather than exploring her own personal devastation, she's instead bemused by the concepts. She cannot comprehend the notion of parents moving on, rather than struggling with her dad's moving on.
As I say, this is clearly a deeply personal project. Co-creator Richard Perrin has spoken about how much of it was inspired by his misery after the death of his father. It's obviously a game that was cared about very much in many ways. But it is, I'm afraid, a game whose voice didn't work. And since the game has no other interaction but for moving the character through the town and engaging in conversations, that those conversations feel specious is extremely problematic. It's an ersatz world, and this removes the potential power of the game's final reveal.
I'm aware that this review is a little like standing up at a funeral to critique the eulogy, and I feel like a dick. But it's also a commercial product (on Steam for £6.29), for sale. Perrin is clearly enormously talented, as was shown by 2012's excellent Kairo, but Journal is a labour of love that, at least for me, hasn't come together.
Tagged with feature, Locked Door Puzzle, review, Richard Perrin, wot i think, journal.
More about journal
One of the original co-founders of Rock, Paper, Shotgun, I tried to leave, but they won't let me. If anyone reads this, please send help.
Who taxis the taximen?
Premature Evaluation: Griftlands
Drinks all round
Alien ant harm
Eagle Island review
Close encounters of the bird kind

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Jeremy essay
the extent that they promote pleasure and exclude pain. 46 In his exposition of the felicific calculus, Bentham proposed a classification of 12 pains and 14 pleasures, by which we might test the "happiness factor" of any action. Several of his works first appeared in French translation, prepared for the press by Étienne Dumont, for example, Theory of Legislation, Volume 2 (Principles of the Penal Code) 1840, Weeks, Jordan, Company. Bentham then attempted to outline positive alternatives to the preceding "traditionalisms." Not only did he work to reform and restructure existing institutions, but he promoted broader suffrage and self (that is, representative) government. The impact of Bentham's ideas goes further still. (Bentham was made an honorary citizen of the fledgling French Republic in 1792, and his.
Jeremy bentham essay
Mba graduate essay with medical backgrounds, Writing an evaluative essay in middle school,
It is now locked away securely. 52 He lobbied hard for the formation of codification commissions in both England and the United States, and went so far as to write to President James Madison in 1811 to volunteer to write a complete legal code for the young country. To begin with, the idea of "relation" is but a "fictitious entity though necessary for "convenience of discourse." And, more specifically, he remarks that "the community is a fictitious body and it is but "the sum of the interests of the several members who compose. But such a doctrine is not only unhistorical, according to Bentham, it does not even serve as a useful fiction to explain the origin of political authority. "Bentham on the Rights of Women". Burston, Oxford/New York : Clarendon Press ; Oxford University Press, 1983. Retrieved "About UCL Laws". The essay chastises the society of the time for making a disproportionate response to what Bentham appears to consider a largely private offence public displays or forced acts being dealt with rightly by other laws. According to Mill, however, the pleasure gained from that scenario would be even greater than computed by Bentham, as it would also consist of the greater intellectual pleasure gained by the person who acts sacrificially. "The Origins of Liberal Utilitarianism: Jeremy Bentham and Liberty". One of the problems that utilitarianism faces is based on one of its minor premises. This resulted in the Thames Police Bill of 1798, which was passed in 1800.
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farfalleveneto.eu - 2018


Capping a remarkable awards run, Alexander Skarsgård has proven that he can even stand with the leading men: His performance in Big Little Lies has won him the SAG Award for Outstanding Performance by a Male Actor in a Television Movie or Limited Series.
"A lot of people have been talking about who the greatest male actor ever is – is it [fellow nominee] Mr. Robert De Niro, or the tall dude from True Blood? The thespians have spoken — thank you very much for that," he joked after coming to the stage to accept the award.
Unlike the Emmys, Golden Globes, and Critics' Choice Awards, all of which honored Skarsgård with best supporting actor trophies, the SAG Awards do not separate lead and supporting categories for TV programs, making it rare for actors not at the center to get nominated — let alone win. But Skarsgård has bucked the trend, proving just how deep the industry's love for Big Little Lies and his performance runs. He has now effectively swept the TV awards circuit.
This is Skarsgård's first-ever individual nomination and win at the SAG Awards; previously, he shared in the True Blood cast's ensemble nomination.
Skarsgård defeated four actors who have received multiple SAG Award nominations over their careers, and who were recognized this year for leading performances: Benedict Cumberbatch (Sherlock: The Lying Detective), Jeff Daniels (Godless), and De Niro (The Wizard of Lies), and Geoffrey Rush (Genius).


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Pürschling is a mountain of Bavaria, Germany.

Mountains of Bavaria
Ammergau Alps
Mountains of the Alps

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Navigation Path: Home›Research & Publications›Financial Stability›Macroprudential Bulletin›29 October 2019
The disciplining effect of supervisory scrutiny on banks' risk-taking: evidence from the EU wide stress test
The disciplining effect of supervisory scrutiny on banks' risk-taking: evidence from the EU‑wide stress test
2 The EU‑wide stress test as a constrained bottom-up exercise
3 Quality assurance of the bank stress test submissions
4 The disciplining effect of supervisory scrutiny in the EU‑wide stress test
Prepared by Christoffer Kok, Carola Müller and Cosimo Pancaro
This article aims to contribute to the ongoing discussion about the long-term strategy for stress testing in the euro area. In particular, it highlights some of the strengths and weaknesses of the constrained bottom-up approach, which is currently used in the EU‑wide stress-testing exercise. Under this approach, banks use their own models to generate stress test projections on the basis of a common macroeconomic scenario and under the constraints imposed by the European Banking Authority methodology. This set-up provides banks with some scope to underestimate their vulnerabilities in order to appear more resilient than their peers. This article confirms previous empirical evidence showing that such behaviour may indeed be practised by banks. This, in turn, requires a robust quality assurance of banks' stress test projections by the competent authorities (including the European Central Bank), to enforce more realistic results. Against this background, the article presents a novel empirical analysis providing indicative evidence that the "supervisory scrutiny" relating to the quality assurance may be having a disciplining effect on banks' risk-taking.
Since the financial crisis, stress tests have become an important tool for central banks and banking supervisors and have been used for different goals. During, and in the immediate aftermath of, the financial crisis, stress tests were used mainly as crisis solution tools aiming at identifying capital shortfalls in the banking sector and enhancing market discipline through the publication of consistent and granular data on a bank‐by‐bank level. In more recent years, stress tests have rather served the purpose of crisis prevention, thus aiming to identify vulnerabilities in the financial system and to assess the resilience of the banking sector and individual banks to adverse macro-financial shocks, thereby informing supervisory evaluations[1] and contributing towards macroprudential policy discussions.
Stress tests can be carried out by following either a bottom-up or a top-down approach. In a bottom-up stress test, banks produce stress test projections relying on their own models and granular data, while in a top-down stress test prudential authorities produce stress test projections in a centralised fashion relying on their own models, often based on less granular data.
The EU‑wide stress test follows a so-called constrained bottom-up approach. Under this approach, banks generate their stress test projections using their own models, relying on a common predefined macro-financial scenario and subject to a pre-set methodology. In the euro area, the European Central Bank (ECB) quality-assures the projections of banks under its direct supervision through an intense review process to ensure the consistency and credibility of banks' projections.
This article aims to contribute to the ongoing discussion about the long-term strategy for stress testing in the euro area. Specifically, it argues that the constrained bottom-up approach used in the EU‑wide stress tests may be prone to "gaming" by banks given their incentives to appear more resilient to adverse macroeconomic developments than their peers.[2] At the same time, authorities can effectively correct this outcome through an intense supervisory scrutiny and quality assurance process. Based on novel empirical evidence, this article argues that the current set-up is also likely to provide some benefits in terms of reducing the risk-taking of those banks participating in the stress tests. In particular, it is shown that this risk reduction may partly be explained by the intense supervisory scrutiny of banks' stress test projections during the exercises – also relying on top-down and peer benchmark challenger models – carried out by the ECB (and other competent authorities).
The article is structured as follows. The following section describes the design of the EU‑wide stress test. Section 3 summarises the stress test quality assurance process at the ECB. Section 4 provides novel empirical evidence on the disciplining effect of the supervisory scrutiny during the stress test on banks' risk-taking. Section 5 concludes.
The EU‑wide stress test is a complex exercise involving several stakeholders. In line with the European Banking Authority (EBA) regulation[3], it is initiated and coordinated by the EBA in cooperation with the European Systemic Risk Board (ESRB), the ECB and national competent authorities. Specifically, the ECB provides the macroeconomic baseline scenario, contributes to the design of the adverse macroeconomic scenario and is responsible for the quality assurance (QA) process for the banks under its direct supervision. In addition to the EU‑wide exercise, the ECB conducts the Supervisory Review and Evaluation Process (SREP) stress test also for those banks under its direct supervision but which are not in the EBA sample, in line with a fully consistent approach.[4]
The current constrained bottom-up design of the EU‑wide stress test allows supervisors and market participants to compare banks' resilience to stress in a consistent manner and helps foster banks' risk management capabilities. The EU‑wide stress test has helped to provide supervisors and market participants with a quantitative assessment of banks' risk profiles and vulnerabilities and to determine adequate levels of capital for euro area banks[5]. Furthermore, the current approach has the potential to strengthen banks' incentives to improve their general risk management capabilities and, in particular, their stress testing expertise. Finally, by relying on banks' internal models and data, this approach has the capacity to better capture bank specificities (than a pure top-down approach, for instance).
The constrained bottom-up design also entails certain weaknesses, including substantial scope for banks to understate their vulnerabilities. As claimed by some observers, the stress tests could constitute a kind of "beauty contest" among the banks in the sense that each bank has strong incentives to emerge from the exercise appearing relatively more solid in comparison to its peers.[6] The bottom-up nature of the European stress tests provides banks with some leeway to optimise their initial stress test submissions before QA, in such a way that they may materially understate their vulnerabilities (see Box 1 for a more detailed analysis). This element necessitates a thorough and resource-intensive QA process (see following section). As a result of the aforementioned limitations, the informative value of the stress test outcome to participating banks and investors may be only partial.
Do banks "game" the EU‑wide stress test?
One of the frequently raised criticisms of the constrained bottom-up approach of the EU‑wide stress test is that it provides banks with leeway to "game" the exercise allowing them to exploit their internal models to generate insufficiently prudent stress test projections.
In order to explore whether banks under the ECB banking supervision effectively "game" the EU‑wide stress-testing exercise, the analysis of Niepmann and Stebunovs (2018)[7] is replicated for a large sample of 85 significant institutions (SIs) which participated both in the 2014 and in the 2016 stress tests. Unlike Niepmann and Stebunovs (2018), our sample includes both EBA and SREP banks and relies on confidential ECB stress test data.
Specifically, by relying on a bank regression analysis using SIs' stress test submissions related to credit risk, it is assessed how changes in the models (∆Mi2016) banks used to predict loan losses in 2014 and 2016 stress tests, respectively, can be explained by changes in the riskiness of the banks' portfolios (measured by risk-weight density, i.e. ∆RWDi), changes in their exposures (i.e. ∆Ei2014) or changes in the scenario (i.e. ∆Si2014). This regression is estimated for all banks in the sample, but also for the EBA banks and the SREP banks separately.
The regression results are shown in Table A. It can be observed that banks whose losses would have increased the most between the 2014 and 2016 stress tests due to changes in the adverse scenario are those that adjusted more materially their internal credit risk models to reduce their projected loan losses. The results hold for all banks in the sample, but also for the EBA and SREP banks separately. It was also found that the effect is stronger for the EBA banks (as evidenced by the more negative ∆Si2014 coefficient), which presumably reflects on their relatively stronger reliance on internal models.[8]
Table A
Regressions explaining stress test model changes between 2014 and 2016 stress tests
Source: ECB stress test data.
Notes: ECB calculations. Standard errors in parentheses; *** p<0.01, ** p<0.05, * p<0.1.
While these results provide some indications of "gaming" by stress-tested banks, a number of caveats should be highlighted, as also suggested by Covas (2018). First, the approach does not include the lagged loan losses among the considered explanatory variables nor does it control for the starting values of default rates in the loan loss model. This ignores the fact that loan losess are path-dependent (i.e. starting values of default rates influence their dynamics over the prediction years).[9] Moreover, the Niepmann-Stebunovs study considers only (the published) final stress test results, which, as will be argued below, is not a pure bottom-up outcome but rather a hybrid between the banks' original submissions and supervisory overlays during the quality assurance process. To assess whether this would have a major effect on the results, the same analysis was conducted on the original bank submissions (i.e. without overlays), and the results (available upon request) largely still hold.
The key objective of the ECB's quality assurance work is to ensure that banks' stress test projections are credible and reliable. During the QA process, the ECB, as competent authority, challenges banks' submitted stress test projections from several perspectives. First, the ECB assesses the compliance of banks' submissions with the constraints imposed by the EBA methodology. Second, it assesses the credibility of banks' submissions by comparing them with the projections produced by the ECB top-down (TD) models and with the projections submitted by peer banks.
High-level overview of the ECB stress-testing quality assurance process
Source: ECB.
The ECB QA is a fair and thorough process lasting several months over three cycles. At the end of the first QA cycle, banks receive reports providing them with detailed assessments of their submissions and informing them of any material deviations, called QA flags, between their own projections and the ECB challenger views and are asked to "comply or explain". This implies that in the presence of material deviations, banks are asked to provide quantitative and qualitative evidence supporting their own projections. In the last QA cycle, if the deviations persist and banks' explanations are not deemed sufficient, banks are asked to "comply" with the supervisory challenger view. The QA process, which also benefits from the bank-specific knowledge of the direct supervisors on the Joint Supervisory Teams (JSTs), involves extensive interaction between different stakeholders, a substantial amount of resources and overall implies close supervisory scrutiny. Figure 1 presents an overview of the steps undertaken by the ECB during each cycle of the QA process.[10] In the following section, it is explored the extent to which this extended and intensive supervisory scrutiny could impact banks' risk-taking behaviour.
An empirical analysis is conducted to examine the effect of the EU‑wide stress test on banks' risk-taking. The analysis focuses on euro area banks' risk-taking behaviour around the time of the 2016 EU‑wide stress-testing exercise. Two hypotheses are tested empirically: (i) banks' participation in the stress test has an attenuating effect on their risk-taking in subsequent quarters; and (ii) this effect on banks' risk-taking may at least partly be due to the tighter supervisory scrutiny prompted by the QA process.
These two hypotheses are tested using a difference-in-differences approach and rely on confidential data available at the ECB. The use of this approach makes it possible to identify the effect prompted by the participation in the stress test, on the one hand, and the intensity of the supervisory scrutiny during the exercise, on the other hand. The analysis is based on bank-level supervisory data on balance sheet exposures, profit and loss and capital requirements for the period between 2015 and 2018 and confidential data on the stress test projections submitted by banks in each of the three QA cycles of the 2016 EU‑wide stress test, including detailed information on the intensity of the QA process for each bank. The empirical approach is described in more detail in Box 2.
A difference-in-differences approach to test the effect of stress testing on risk-taking
To examine if there was a change in the risk-taking of banks that were stress tested (a so-called "treatment" group) and banks that were not stress tested (a so-called "control" group) during the 2016 EU‑wide stress test, a difference-in-differences approach is employed (known as hypothesis 1). Accordingly, the following regression is estimated:
RWDi, t=αi+β1PostST16t*Testedi+β2Xi, t-1+γt+δt,j+εi, t
Where RWDi, t is the risk-weight density for credit risk exposures of bank i at time t and is the measure of bank risk. PostST16t is a dummy variable which takes a value equal to 1 in the 4 quarters of 2017 and 0 in the 4 quarters of 2015. In other words, a symmetric window around the event is used, meaning that the four quarters of 2016 during which the stress test was performed are omitted.[11] Testedi is a dummy variable which takes a value equal to 1 if a bank participated in the 2016 stress test and 0 otherwise. Xi, t-1 is a vector of bank-specific controls. αi and γt are respectively bank and time-fixed effects. δt,j is an interaction term between country and time-fixed effects, which is included in the regressions to control for loan demand effects. A number of control variables are included to account for bank-specific characteristics. They comprise the regulatory capital ratio[12], which allows disentangling the effects of supervisory scrutiny and higher capital requirements, and the voluntary capital ratio, which means the capital held by banks in addition to the amount required by the regulations and the supervisors. Furthermore, other control variables include the ratio of loan loss provisions over total loans to account for asset quality, the cost-income ratio to measure management capability, the return on equity as a yardstick for earnings, the share of cash and other liquid assets over total assets to capture bank liquidity risk, the retail ratio[13] and the share of interest income as proxies for banks' business models. Finally, bank size is controlled by using the logarithm of banks' total assets, as this variable is key in determining the selection for the control and treatment groups.
The "treatment" group used in this difference-in-differences approach comprises a sample of significant institutions (SIs) that took part in the 2016 EU‑wide stress test. The "control" group is composed of a number of large less significant institutions[14] (LSIs) that did not take part in the 2016 stress test. Banks that were either undergoing resolution, took part in a merger, or formed part of the banking groups that were stress tested within or outside of the euro area (subsidiaries or branches) were excluded from the sample. Hence, only banks at the highest level of consolidation are included in the analysis which, after balancing according to the availability of the covariates, results in a "treatment" group of 63 SIs[15] and a "control" group of 69 LSIs.
Table A confirms that a key identifying assumption needed in a difference-in-differences setting is satisfied; namely, the trend of change in bank risk between the "control" and "treatment" group is parallel in the period before the stress test. Columns (4) to (6) of Table A show means and differences in means for the quarter-on-quarter change in RWD for the "control" (non-stress tested banks) and "treatment" (stress tested banks) groups. Stress tested as well as non-stress tested banks reduced RWD on average over the whole observation period. However, column (6) shows that differences between non-stress tested and stress tested banks in the slope of RWD in the pre-period are not significantly different from zero, which confirms that the parallel trend assumption is valid.
Summary statistics of the dependent variable risk-weight density for the "treatment" and "control" groups and test for significant differences in pre-period trends
Notes: ECB calculations. Columns (1), (2), (4) and (5) show means and standard deviations in parentheses. Columns (3) and (6) show the difference in means between groups and p-value of t-test in parentheses: *** p<0.01, ** p<0.05, * p<0.1.
Furthermore, Columns (1) and (2) of Table A show the average RWD of the "treatment" and "control" groups in the pre- and post-stress test period. The last row indicates that while both groups exhibit lower RWD on average in the period after the stress test compared to the average RWD beforehand, this difference is only significantly different from zero for the group of tested banks. Column (3) further documents that the mean RWD of stress-tested banks is significantly lower than the average RWD of control banks in the pre-period as well as in the post-period. The analysis accounts for this difference in levels by effectively demeaning the outcome variable through the introduction of bank-fixed effects. Finally, the bottom row of Column (3) shows the unconditional difference-in-differences effect, which provides preliminary evidence for the hypothesis that the stress-testing exercise impacted banks' risk-taking behaviour.
In this analysis, participation in the stress test is used as a treatment that is only applied to a subset of European banks. This strategy, however, implies that this subset of banks is not selected randomly from a homogeneous population as would occur in a perfect experimental setting. In fact, whether or not a bank was stress tested largely depended on its membership in the group of SIs which is, largely, a function of its size. This implies that there is a material difference in the average size in terms of total assets between the banks in the treatment and control groups. However, as the selection was based on observable characteristics, the selection criteria can be controlled for allowing for the estimation of the effect on bank risk of being stress tested. This notwithstanding, the results hinge on the notion that the control group of LSIs is comparable to the stress-tested banks. In order to reduce the concern that the results are driven by the differences between the banks in the control and treatment groups, following a similar strategy to that proposed by Gropp, Mosk, Ongena and Wix (2018), matching estimation techniques were employed to run the estimation on a more homogeneous subsample of banks.[16] The results still hold.[17]
In a second step, to examine hypothesis 2 as to whether the identified reduction in risk-taking is related to the close scrutiny to which the ECB subjects the banks during the QA process, a further interaction term is added to the regression. The QA process and the related supervisory scrutiny and interactions between the ECB and the banks provide information about the variation in the intensity of the QA process across banks that can be exploited, as a measure of the intensity of the treatment. Hence, the following regression is estimated:
RWDi, t=αi+β1PostST16t*Testedi+β2PostST16t*Testedi*QAi, contbindim +β3Xi, t-1+γt+δt,j+εi, t
Where QAidim is a bank level measure of the intensity of the QA process. More specifically, three different measures to capture the intensity of the QA process are used. The first yardstick, QAiintensity, is the number of credit risk flags which were raised and communicated to the banks during the QA process. The second measure,QAieffectiveness, is the sum of the potential impact that the QA credit risk flags communicated to the banks could have in terms of CET1 depletion. The third measure,QAiduration, is an indicator ranging from 1 to 3 depending on the number of QA cycles during which a bank was communicated a credit risk flag.[18] Since two of these measures are continuous and one is ordinal, the regression is estimated using two different approaches. First, all three measures are treated as continuous QAi, (cont)dim. Second, for each of the three measures a binary variable is created, namely, QAi, (bin)dim, which is equal to 1 for values above the median QA treatment of the respective category (and equal to 0 if below the median). This latter approach eases the interpretation of the triple interaction term and makes the various results comparable.[19]
Banks that participated in the 2016 stress test reduced their average risk weight density (RWD) by about 4.2 percentage points relative to banks that were not tested. Table 1 reports the outcome of the test of whether stress-tested banks reduced their risk by more than non-stress tested banks in the period after the stress-testing exercise (hypothesis 1). As can be observed, the coefficient of the interaction term PostST16t*Testedi is negative and significant in all considered regressions. This effect is economically significant, as it amounts to a change in RWD of about 20% from the standard deviation of the RWD of the tested banks. This result indicates that banks' participation in the 2016 EU‑wide stress test led to a material reduction in their risk-taking.[20] This result still holds when only the exposures under the Standardised Approach are considered. This indicates that the decline observed in the RWD reflects an effective reduction in risk (and not just an "optimisation" of risk weights).[21]
Effect of participating in the stress test on banks' risk-taking
Source: ECB supervisory data.
Notes: ECB calculations. Clustered standard errors at the bank level in parentheses; *** p<0.01, ** p<0.05, * p<0.1.
Closer supervisory scrutiny related to the QA process applied by the ECB during the EU‑wide stress test seems to have contributed to a reduction in stress-tested banks' risk-taking.[22] Table 2 reports the outcome of the test of whether stress-tested banks reduced their risk more significantly when they were subject to more intense supervisory scrutiny during the stress-testing exercise (hypothesis 2). In columns (1), (3), and (5) of Table 2, the three QA measures are treated as continuous variables while in columns (2), (4), and (6) they are transformed into a dummy variable. Columns (1) and (2) show that there is a negative significant triple interaction for the QA intensity measure. Column (2) illustrates that the tested banks that received an above median number of flags reduced, on average, their RWD by 5.6 percentage points more than the below-the-median tested banks. Results in Columns (3) and (4) indicate that the potential impact, in terms of capital depletion, of the flags on the final stress test result does not seem to matter for the risk reduction since both coefficients for the triple interaction are insignificant. In Columns (5) and (6), some evidence is shown that a longer duration of the QA process had a negative significant effect. It is found that having a third round of QA results in an additional 2.5 percentage point drop in RWD compared to banks that had no further flags to discuss.
Effect of being stress tested on banks' risk-taking through the QA channel
Sources: ECB supervisory and stress-testing data.
This article has highlighted certain strengths and weaknesses of the current constrained bottom-up approach of the EU‑wide supervisory stress tests. On the one hand, the bottom-up nature of the exercise provides banks with leeway and incentives to underestimate their vulnerabilities in order to appear better than their peers. On the other hand, the stress tests are conducted applying a robust quality assurance of banks' stress test submissions by competent authorities (including the ECB), which ensures the credibility and reliability of the results and may have beneficial disciplining effects on stress tested banks' risk-taking. This analysis has provided empirical evidence both of the possibility that banks "game" the stress-testing exercise and of the possible disciplining effects of the supervisory scrutiny that is entailed by the quality assurance process. These findings may be relevant for ongoing discussions about the long-term strategy for the European banking sector stress tests.
Acharya, V., Berger, A. and Raluca, R. (2018), "Lending Implications of U.S. Bank Stress Tests: Costs or Benefits?", Journal of Financial Intermediation, Volume 34, p.p. 58‑90.
Calem, P., Correa, R. and Lee, S. J. (2017), "Prudential Policies and their Impact on Credit in the United States". BIS Working Paper Series, No. 635.
Cortes, K., Demyanyk, Y., Li, L., Loutskina, E. and Strahan, P. (2019), "Stress Tests and Small Business Lending", Journal of Financial Economics, forthcoming.
Hirtle, B., Kovner, A., and Plosser, M. (2019), "The Impact of Supervision on Bank Performance", Federal Reserve Bank of New York Staff Report, Number 768.
Covas, F. (2018), "A Critical Assessment of "Modelling your Stress Away" by Niepmann and Stebunovs (2018)", Blog Post, Bank Policy Institute.
Enria, A. (2019), "The Future of Stress Testing – Realism, Relevance and Resources", Keynote Speech at the European Systemic Risk Board annual conference, 26 September.
Gropp, R., Mosk, T., Ongena, S. and Wix, C. (2019), "Bank Response to Higher Capital Requirements: Evidence from a Quasi-Natural Experiment", The Review of Financial Studies, Volume 32, Issue 1, pp. 266‑299.
Kok, C., Müller, C. and Pancaro, C. (2020), "The Disciplining Effect of Supervisory Scrutiny in the EU‑wide Stress Test", Working Paper Series, European Central Bank, forthcoming.
Mirza, H. and Zochowski, D. (2017), "Stress Test Quality Assurance from a Top-Down Perspective", Macroprudential Bulletin, Issue 3.
Niepmann, F. and Stebunovs, V. (2018), "Modeling Your Stress Away", International Finance Discussion Papers, No 1232.
Philippon, T., Pessarossi, P. and Camara, B. (2017), "Backtesting European Stress Tests", Working Paper, National Bureau of Economic Research, No 23083.
Pierret, D. and Steri, R. (2019), "Stressed Banks", Swiss Finance Institute Research Paper Series, No. 58.
Quagliarello, M. (2019), "Are Stress Tests Beauty Contests? (And What We Can Do About It)", EBA Staff Paper Series, No 4.
[1]ECB Banking Supervision uses both the qualitative results (quality and timeliness of banks' submissions) and the quantitative results (capital depletion and banks' resilience under the adverse scenario) as input into the Supervisory Review and Evaluation Process (SREP) to inform the setting of Pillar 2 capital requirements (P2R) and Pillar 2 capital guidance (P2G) respectively.
[2]Quagliarello (2019) describes the "beauty contest" problem and also discusses how some changes to the current design of the EU‑wide stress test could help to mitigate this phenomenon.
[3]Regulation No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority) states, inter alia, that the EBA may "initiate and coordinate Union-wide stress tests…to assess the resilience of financial institutions to adverse market developments, and evaluate the potential for systemic risk to increase in situations of stress, ensuring that a consistent methodology is applied at the national level to such tests and, where appropriate, address a recommendation to the competent authority to correct issues identified in the stress test".
[4]The stress test results of the banks in the EBA sample are published while the results of the banks in the SREP sample are typically not published at the level of individual banks.
[5]In this article, the focus is primarily on the euro area banks, which are part of the EBA sample for the EU‑wide stress tests, as well as other euro area significant institutions that are also being stress tested by the ECB in parallel with those being tested in the EBA-coordinated part of the exercise.
[6]See e.g. Quagliarello (op.cit.) and Enria (2019).
[7]Niepmann and Stebunovs (2018) build on the approach developed by Philippon, Pessarossi and Camara (2017).
[8]In line with the findings of Niepmann and Stebunovs (2018), it was also found that if banks had used their 2014 models in the 2016 stress test, their projected loan losses would have been materially higher. These results are available on request.
[9]Both points of criticism are in principle valid. However, due to the fact that the stress test data submissions are "snapshots" of biennial frequency it is difficult to establish a dynamic loan loss model. In addition, in principle bank fixed effects should capture differences in starting values (by demeaning for each stress test). It cannot, however, be completely excluded that changes to the estimated models might reflect other factors than "strategic behaviour".
[10]Mirza and Zochowski (2017) provide a detailed overview of the different steps and components of the ECB stress-testing quality assurance process.
[11]The analysis in this section is based on Kok, Müller and Pancaro (2020).
[12]However, results are robust to the selection of different time windows around the event.
[13]This variable is based on supervisory data and comprises Pillar 1, Pillar 2, as well as macroprudential capital buffers.
[14]The retail ratio is calculated as the ratio between the sum of loans and deposits over total assets.
[15]Less significant institutions are SSM banks that do not fulfil any of the significance criteria to be qualified as significant institutions. Less significant institutions are not under the direct supervision of the ECB.
[16]Among these 63 banks, 31 are EBA and 32 are SREP banks.
[17]To further control for the difference in size between the banks in the treatment and in the control group, we also re-estimated our baseline regression by gradually reducing the sample by progressively excluding the smallest non-tested and the largest tested banks. The results still hold.
[18]Further details are provided in Kok, Müller and Pancaro (2020).
[19]All of these three measures refer to flags which were triggered under the stress-test adverse scenario.
[20]To control whether the ECB's supervisors pay greater attention to riskier banks during the QA, we separately regress the three yardsticks, which measure the intensity of the QA process, for the RWD and bank controls and we find that, depending on the observables, there is no significant relationship between the intensity of the QA and risk.
[21]This finding is broadly in line with similar studies for the US stress tests. See e.g. Pierret and Steri (2019), Acharya et al. (2018), Cortes et al. (2019), Calem et al. (2017).
[22]Further robustness checks have been conducted, replacing the RWD as dependent variable with alternative measures of bank risk taking (e.g. leverage ratio). For more details, see Kok, Müller and Pancaro (2020).
[23]The finding that supervisory scrutiny can have a disciplining effect on banks' risk taking is consistent with comparable US-based studies; see e.g. Hirtle, Kovner and Plosser (2019) for a recent analysis.
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I won't go as far as calling it an addiction but I do love this type of cheese and I use it quite a lot both in hot and cold dishes. This love of feta blossomed unhindered the winter I lived in Greece, on the island of Crete.
I lived in a small village up in the hills and in the little village shop, behind the counter, stood two massive tins each containing a huge block of feta cheese. The owners would happily allow you to try each one to see which one you preferred and once you had chosen one, they'd cut as big a piece as you wanted out of the block.
Those were my feta days! I loved eating nothing but some bread and a piece of feta with some local olive oil drizzled over it and scattered with some dried herbs like thyme, oregano and rosemary (which all grow on the island). Or I cooked large white beans in a tomato, garlic and herb sauce to go with my feta, or… I'll stop there.
There are a fair few recipes on my website where feta cheese plays a part.
Tip! When buying feta cheese, make sure it says that it's made from sheep and goat's milk – there are some bad imitations out there made from cow's milk.
I serve these lamb and beetroot burgers on toasted sourdough bread, topped with the feta cheese and garlic sauce and with oven-roasted, tasty-healthy-low-calorie sweet potatoes on the side.
Yep, sweet potatoes are another great love of mine, and I use them A LOT.
Add a salad with different green leaves and juicy tomatoes sprinkled with a little olive oil and balsamic vinegar and you've got a super-tasty and very healthy meal in front of you.
1. Heat the oven to 200C/fan 180C/400F/gas mark 6. Toss the sweet potato wedges with 1 tablespoon olive oil. Place the wedges on a baking tray, sprinkle some salt over them and cook in the oven for 20-25 minutes until tender.
2. Mix together all the ingredients for the feta and garlic sauce and leave it to mature.
3. Mix together all the ingredients for the lamb burgers in a bowl, season the mixture with salt and pepper. With your hands, mould the mixture into 4 patties. Brush the patties with oil and heat a frying pan. Cook for about 4 minutes on each side until browned and cooked through.
Toast the bread, and top each slice with one of the lamb and beetroot burgers and add some feta cheese and garlic sauce to each burger. Serve with the sweet potato wedges on the side.


RHS Chelsea Flower Show "Heading West! " on the road to Chelsea Flower Show "The Dress!"
Second consecutive year!! We are really happy to be asked again to create a short film to be shown by M&G Investments title sponsor of the RHS Chelsea Flower Show. The astonishing Dress has been commissioned to highlight and celebrate the 7th consecutive year as title sponsors of the RHS Chelsea Flower Show, the Dress has been created by renowned Floristry Artist Larry Walshe.
Larry Walshe Floral Design are the only Florist to be asked twice to create a dress for the Multi- Award winning garden designer Cleve West the title of the design "Heading West" on the road to Chelsea Flower Show. The Dress has been inspired to complement the garden which theme is Ancient-Woodland themed retreat. Over 1,800 mixed fern leaves and 460 flowers entwined with willow have been used to create this dress.
Urban Cinematography have been inspired by Larry Walshe and his beautiful ideas and woodland theme. We are very proud to be involved for the second year running and hope that you love the film as much as we enjoyed making it and highlighting the amazing talent involved in such a beautiful and iconic project.


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How To Transfer Contacts from Android to iPhone (#1 Easiest Way)
So you've finally bit the bullet and are switching from an Android phone to an iPhone. It's a great choice that you're sure to love once you experience all the benefits iOS offer over Android (like privacy).
But moving from Android to iPhone does present some hurdles. For starters, you'll want to continue using all the apps you're used to on Android. That's easy enough, as you can just download the iOS version of those apps on your iPhone via the iPhone's App Store.
But getting your contacts moved from Android to iPhone can be tricky. It used to be that you either had to sync them with your Google account and transfer them that way–or do a manual VCF card transfer.
Both options are time-consuming and can leave you open to data loss. Thankfully, there's now a MUCH easier way: use Apple's "Move to iOS" app for Android.
What Is Apple's Move To iOS App?
It's an app Apple makes for Android smartphones. As the name suggests, the app acts as a tool to help users switching from Android to iPhone to move their data over.
The app is a free download on the Google Play store and can be found via this link.
While the app does move your contacts from your Android device to your new iPhone, it will also move your message history, browser bookmarks, photos and videos, mail accounts, and calendars over.
In this user guide, we'll obviously be concentrating on how to move your Android contacts over to your new iPhone using the Move to iOS app.
How To Transfer Contacts from Android to iPhone
Okay, ready to move your contacts over from your Android phone to your new iPhone? First, make sure you've downloaded the Move to iOS app on your Android phone. Then simply follow the steps below.
One you new iPhone, when first setting it up, look out for the "Apps & Data" screen. Once that screen appears during the set-up procedure, tap the "Move Data from Android" button.
On your Android phone, launch the Move to iOS app.
Accept the terms and conditions in the app and then tap the "Next" button in the corner of the Find Your Code screen.
Back on your iPhone, continue onto the "Move from Android" screen. Here you'll find a six or ten-digit number.
Enter the number from the step above into the Find Your Code screen on your Android device in the Move to iOS app.
A Transfer Data screen will appear. On this screen, select what content you'd like to transfer. Obviously, select your contacts, though you can also select other things like message history, browser bookmarks, photos and videos, mail accounts, and calendars. The transfer process could take a while depending on how much data you're transferring over. If it's just your contacts, the transfer should be quick. But if it's your photos and videos, it could take hours.
During the transfer (which is done over an ad hoc wireless network between your iPhone and your Android phone) you'll see a progress bar on the iPhone. When your progress bar has finished on your iPhone, tap the "Done" button in the Move to iOS app on your Android device.
Now, back on your iPhone, tap the Continue button to complete the setup on your new device.
And check out How To Add Contacts To Groups On iPhone! And take a look at How To Restore Deleted iPhone Contacts!
Explore more →
How to Wirelessly Migrate Your Data To A New iPhone
How To Move Apps To An SD Card (#1 Easiest Method)
There are times when you may find your phone's onboard storage insufficient and want to install applications to a microSD card embedded in the handset.
How To Tell If Someone Has Blocked You on iPhone (The #1 Easiest Method)
How can you tell if somebody has blocked you on iPhone? It's tricky, but there are a few massive giveaways, which are detailed below…


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Nazim's Blog
Meditations of a Muslim journalist on the shores of Lake Ontario
Nazim Baksh
Nazim has had a distinguished 20 year career as a television and radio producer with the Canadian Broadcasting Corporation (CBC). Based in Toronto, he is currently assigned a lead producer on Toronto's daily supper hour television newscast which airs to an estimated 5.5 million households in the Greater Toronto Area. He has worked as a producer on Dispatches, an award-winning weekly national radio program; served as the foreign editor of As It Happens; produced for The National, CBC's nightly flagship news and current affairs show, the 5th Estate and the CBC's documentary unit. Nazim has won numerous awards and in the years since 9/11 he has worked extensively on issues of national security and violent religious extremism. He has done extensive field work in Afghanistan and Pakistan. In the last few years he has visited the U.S. detention facility at Guantanamo Bay, Cuba three times to cover the case of Omar Khadr, a Canadian citizen who has been held at Gitmo for the last eight years.
In 2006 he was the recipient of the prestigious Massey Journalism Fellowship at the University of Toronto. Nazim holds a Master's Degree in Journalism from the University of Western Ontario and a B.A. Hons. in Political Science and History from York University. Between 1995 to 2005 Nazim pioneered a series of Rihlas and Deen Intensive programs in North America, Spain, Morocco and the first program in what eventually became a series of successful Rihlas to Mecca and Madina. He has been a regular contributor to Q-News International, Islamica Magazine and a number of other publications. He is an activist, a translator and interpreter of the message of Islam in the modern context, a khatib, a teacher, a mentor to many young Muslim men and women in the GTA and most of all a father and husband. Nazim has been named in The Muslim 500 – The World's Most Influential Muslims.
Nazim was born in Guyana during a period of civil strife between Indians and Blacks in the years leading up to independence. As a teenager growing up in Georgetown he became an admirer of theprogressive politics of the late Dr. Walter Rodney.
In 1979 he attended the funeral of his fallen hero, a victim of Forbes Burnham's tyranny.
Dr. Walter Rodney
Standing on the graves in the Le Repentir cemetery and watching the frustration and anger on public display he believed the Guyanese masses did not rise up against Burnham because the government controlled media refused to tell them Rodney was a victim of a bomb planted in his lap by Burnham's henchmen. In 1980 Nazim migrated to Canada with his parents and settled on a career in the field of journalism.


Derwood Landscaping is a unique South Wales Landscape Gardening Company that provides a whole variety of Landscaping Services in and around Bridgend, Cardiff, Porthcawl, Caerphilly, Barry, Penarth and South Wales.
The opportunities available to create a perfectly Landscaped Garden in South Wales are endless. We will Design and Landscape your garden to suit YOUR needs and your BUDGET.
Derwood Homes offers a comprehensive package to meet all of our customers landscaping requirements.
Each project is treated on an individual basis regardless of the size or budget... from laying a new lawn to a full or partial but detailed and comprehensive arden makeover.
With our vast experience and skilled tradesmen we ensure that every project is carried out swiftly and neatly to meet your budget and requirements.
Or Simply call us on 0845 519 4707 for a FREE home visit and FREE quote.


We've all heard that, but what does it mean? How big is each glass? Does juice count? How about coffee? Beer? Does it matter how big I am? Can I get them all out of the way before 9 AM?
I'm in the water business and I wasn't sure how to answer any of these questions, except for the beer one. So I looked into it and I found a recently published (Short) article out of Sydney, Australia that nails it. Enjoy! Don't Do it!


Williamsburg Township Ohio | Welcome to Williamsburg Township, Ohio!
Click here for latest improvements, issues, and updates concerning roads and construction within the township.
We have over 40 volunteers that are available 24/7 that are here to support our residents.
Find contact information, rates and fees.
We have over 50 volunteers that are available 24/7 that are here to support our residents.
Need an application or the list of Permit rules? Click here for a full list of requirements, application form, and contact information.
Williamsburg, Ohio was the first settlement in Clermont County. Williamsburg Village was founded in 1796 by William Lytle and served as the first county seat of Clermont County. Williamsburg Township was founded in 1801. Williamsburg is proud of its rich historical past and promise of an exciting future. The community is bursting with pride and eager to expand and grow wisely. Go Wildcats!!


text:
Astichopus multifidus är en sjögurkeart som först beskrevs av Sluter 1910.  Astichopus multifidus ingår i släktet Astichopus och familjen signalsjögurkor. Inga underarter finns listade i Catalogue of Life.

Källor

Signalsjögurkor
multifidus


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Q: I keep getting this error: java.lang.NoClassDefFoundError: org/openqa/selenium/WebDriver using Selenium trying to open Chrome I am getting a complilation error when I try to run Selenium Webdriver.
I am using Eclipse and Java inside Eclipse.
I:
Went ahead and downloaded Selenium Server (4.3.0), the language-specific client drivers Java (4.3.0), and the stable release of the latest chrome drivers (got it from here - https://chromedriver.storage.googleapis.com/index.html?path=103.0.5060.134/). I had to download the 32 bit version even though my computer is 64 bit, but I only saw a 64 bit version for Windows.
Configured build path and added external jars to build path from the Selenium server file I downloaded.
The code:
import org.openqa.selenium.WebDriver;
import org.openqa.selenium.chrome.ChromeDriver;

public class FirstSeleniumTest {

    WebDriver driver;
    public void launchBrowser() {
        System.setProperty("webdriver.chrome.driver", "C:\\Users\\zachw\\Desktop\\Selenium\\chromedriver_win32\\chromedriver.exe");
        driver = new ChromeDriver();
        driver.get("https://www.amazon.in/");
    }

    public static void main(String[] args) {

        FirstSeleniumTest obj = new FirstSeleniumTest ();
        obj.launchBrowser();

    }

}
}

and keep getting this error:
Error: Unable to initialize main class FirstSeleniumTest
Caused by: java.lang.NoClassDefFoundError: org/openqa/selenium/WebDriver
Can anyone tell me why I am getting this compilation error and how to fix it?

redpajama_set_name: RedPajamaStackExchange


text:
EP001: Neil Fallon (Clutch)
Episode 1 • 16th February 2021 • The High Way with Kyle Shutt • Kyle Shutt
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Welcome to the premiere of The High Way with Kyle Shutt, an interview series where I interview musicians, authors, producers, artists and more about life on the road and in the studio. As fun as they are enlightening, these weekly conversations about tour stories and the inner workings of the entertainment industry will be a blast so subscribe today and don't let an episode get by you. This week I talked with Neil Fallon, legendary front man of rock n' roll outlaws Clutch, about the risks and rewards of playing music for a living and so much more.
Help us keep the show moving along by visiting our Patreon page at the link below. For a few dollars a month you can get early access to next week's episode, exclusive content only available on the Patreon page, and even get a shoutout on a future episode.
https://www.patreon.com/thehighway
We couldn't do it without your support and we thank every one of you for listening. Listen to this episode anywhere podcasts are streaming.
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