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Monetary policy under the microscope: Household heterogeneity and consumption
Martin Blomhoff Holm, Pascal Paul, Andreas Tischbirek 31 March 2020
Empirical evaluations of monetary policy have traditionally focused on the responses of macroeconomic aggregates. Instead, this column uses detailed administrative data from Norway to uncover substantial heterogeneity in the effects of monetary policy at the household level. The authors find that not only low-liquidity households but also high-liquidity ones show strong responses. Interest rate changes faced by borrowers and savers feed into consumption, and indirect effects of monetary policy are sizable, but occur with a delay. While the results confirm several predictions of recent heterogeneous-agent New Keynesian models, they also provide new challenges.
Household heterogeneity and the transmission of monetary policy in the euro area
Miguel Ampudia, Dimitris Georgarakos, Michele Lenza, Jiri Slacalek, Oreste Tristani, Philip Vermeulen, Gianluca Violante
Monetary policy and inequality: A new channel
Juan Dolado, Gergo Motyovszki, Evi Pappa
New models for macroeconomic policy
Morten Ravn, Vincent Sterk
Household debt and the transmission of monetary policy
James Cloyne, Clodomiro Ferreira, Paolo Surico
There is a wide consensus that interest rate changes by central banks have an impact on aggregate consumption. However, several aspects of this link cannot be assessed based on macroeconomic aggregates alone and have therefore remained in the dark for a long time. Through which channels are households affected by policy rate changes? Is there significant heterogeneity in their reactions? What is the role of household portfolios and borrowing constraints? While these questions have received considerable attention in recent theoretical contributions (e.g. Kaplan et al. 2018,Bilbiie 2019, Luetticke 2019, Auclert et al. 2020, among many others), empirical evidence has proved difficult to obtain. Studies based on household surveys have yielded a number of valuable insights. For example, Cloyne et al. (2019) find that the balance sheets of households, approximated by their housing tenure status, affect the consumption response to monetary policy shocks, and Wong (2019) emphasises the importance of mortgage refinancing.
In recent research (Holm et al. 2020), we use administrative tax data covering all individuals registered in Norway between 1996 and 2015 to shed light on the effects of monetary policy at the household level. Since Norway levies both income and wealth taxes on its inhabitants, the data contain detailed records of income flows and portfolio positions, which allows us to impute the consumption expenditures of households. Equipped with these unique data and new estimates of monetary policy shocks for Norway, we are able to estimate the dynamic responses to monetary policy at a high level of disaggregation.
Liquid assets and heterogeneity in the consumption response
A number of recent HANK models predict that households differ markedly in their response to monetary policy and that these differences are related to holdings of liquid assets like bank deposits, which can be withdrawn quickly and at little or no cost. Intuitively, households with few liquid assets do not have a large enough buffer to smooth consumption when interest rate changes let their income fluctuate. If these households face borrowing costs or constraints, then their consumption is affected particularly strongly.
Figure 1 Impulse responses of consumption along the liquid asset distribution
Notes: Consumption changes normalized by lagged net income.
Source: Holm et al. (2020)
Estimates based on the household-level data confirm that the consumption response differs with the liquidity position, as can be seen from Figure 1. The figure illustrates the impulse responses of consumption to a monetary tightening for each decile of households ordered by their liquid asset holdings. Shown are time-averaged versions of the full responses. On impact and in the year following the shock, consumption declines below the 70th percentile of the distribution. The decline after four to five years is stronger at the bottom than around the median. But, strikingly, households with large liquid asset holdings also show a strong reaction. Moreover, they initially increase their consumption before eventually letting it decline.
Monetary policy affects consumption through income changes
The consumption response can be separated into the responses of income and saving, since all disposable household income in a given time period must be either consumed or saved. This is done in the two panels at the top of Figure 2. The two panels at the bottom separate the disposable income response into financial and nonfinancial income.
Figure 2 Impulse responses of income and saving along the liquid asset distribution
Notes: Changes in income and saving normalized by lagged net income.
Overall, the income response is large compared to the saving response, suggesting that the consumption adjustments that households make are closely linked to changes in their income. At the bottom of the distribution, households do not cut into their savings or increase their borrowing when disposable income starts to decline about two years after the shock. While this finding could be a result of liquidity shortage, as suggested by recent HANK models, the strong response at the top of the distribution is difficult to reconcile with explanations of monetary policy transmission that focus on liquidity constraints. According to these explanations, households with large liquid asset holdings should smooth temporary income fluctuations by adjusting their saving and intertemporally substitute consumption in response to interest rate changes. In contrast, the estimates suggest that even high-liquidity households have sizable marginal propensities to consume out of income changes caused by monetary policy shocks, since both consumption and saving rise when interest rates and disposable income increase in years 0 to 1.
The initial increase in disposable income, and hence consumption, at the top of the distribution, and the decline towards the bottom are driven by the respective net financial income responses. Households with large liquidity holdings tend to be net savers whose interest income increases when interest rates rise. Households at the bottom tend to be net debtors with large mortgage debt. Their disposable income initially declines as the interest expenses associated with their mortgages increase. In our paper, we show that these differences are even more pronounced when households are reordered according to their net interest rate exposure. Nonfinancial income – the sum of labour earnings and net transfers – responds sluggishly but ultimately falls across the entire distribution.
Indirect effects are sizable but delayed
The strong nonfinancial income response suggests that general equilibrium effects play an important role in transmitting changes in the policy target rate to household consumption. Kaplan et al. (2018) show that such indirect effects of monetary policy make up a large fraction of the total consumption response in their HANK framework. Figure 3 provides a decomposition of the aggregate effect into direct and indirect effects based on estimates from the administrative data. The blue line gives the total response across all households, and the red line portrays the response when general equilibrium income changes are held constant, that is, when monetary policy affects households only in a direct way.
Figure 3 Direct and indirect effects of monetary policy
Notes: Impulse responses to a 1 percentage point contractionary shock. 68 percent confidence bands based on Driscoll- Kraay strd. errors shown.
In the first few years, almost all of the consumption response is due to direct effects. The gap between both curves subsequently widens, implying that indirect effects play an increasingly important role. Five years after the shock, more than half of the total response is due to indirect effects.
Taken together, the administrative data yield a number of new insights that may guide policy makers and future HANK models alike. There is large heterogeneity in the response of household consumption expenditures to monetary policy changes. Even the sign of the initial response differs for net creditors and net debtors. Households at the top of the liquid asset distribution, which should not be affected by borrowing constraints, show sizable marginal propensities to consume out of the income changes caused by policy rate adjustments. Indirect effects are important, but it takes time for general equilibrium effects to take over, suggesting that other forces have to respond first to initiate them.
Auclert, A, M Rognlie, and L Straub (2020), "Micro jumps, macro humps: monetary policy and business cycles in an estimated HANK model", NBER Working Paper 26647.
Bilbiie, F O (2019), "The New Keynesian cross", Journal of Monetary Economics, forthcoming.
Cloyne, J, C Ferreira, and P Surico (2019), " Monetary policy when households have debt: New evidence on the transmission mechanism", The Review of Economic Studies 87 (1): 102–129.
Holm, M B, P Paul, and A Tischbirek (2020), "The Transmission of Monetary Policy under the Microscope", Federal Reserve Bank of San Francisco Working Paper 2020-03.
Kaplan, G, B Moll, and G L Violante (2018), "Monetary Policy According to HANK", American Economic Review 108 (3): 697–743.
Luetticke, R (2019), "Transmission of monetary policy with heterogeneity in household portfolios", Unpublished manuscript.
Wong, A (2019), "Refinancing and the Transmission of Monetary Policy to Consumption", Unpublished manuscript.
Topics: Macroeconomic policy Monetary policy
Tags: monetary policy, consumption, heterogeneous households
Martin Blomhoff Holm
Assistant Professor, Department of Economics, University of Oslo
Pascal Paul
Economist, Federal Reserve Bank of San Francisco
Andreas Tischbirek
Assistant Professor of Economics, University of Lausanne


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Liquid Crystal Research leads to major investment by Merck at Chilworth
Published: 3 February 2010
The decision by Merck to open a major new extension at Chilworth is featured in the Research Councils UK - Impacts publication on inward investment/leveraged funding. Emeritus Professor Geoffrey Luckhurst took a strong academic lead as the key figure in the School of Chemistry in the relationship with Merck.
"The opening of a major new extension to its Advanced Technologies Centre on the University of Southampton Science Park in December 2009 represents a 3.0 million Euro investment by global company Merck Chemicals in the Centre's technical facilities for research and product development.
The expansion has created 20 job opportunities for scientists and technical experts specialising in chemistry, physics, application technology and analysis within Merck's Liquid Crystals and Advanced Technology Divisions.
Merck opened its UK R&D headquarters on the Science Park in 2000 to be close to liquid crystal researchers at the University, primarily in the Schools of Chemistry, Physics and Mathematics with which it had built up a close relationship over many years. For the last decade the site has served as a materials research and technology centre focusing on reactive liquid crystals, organic electronics and materials for flexible displays.
"The key aspect of this striking new extension is the quality of the research scientists based there, some of whom originate from the University and the Liquid Crystal research group in the School of Chemistry. This long-standing relationship between the University's researchers and Merck has enabled us to develop fundamental studies of relevance to industrial applications and, of course, benefited the wider UK research base," said Professor Geoffrey Luckhurst, Emeritus Professor at the University's School of Chemistry.
"Advanced Technologies Chilworth (AT-C) as a central research and development site of the chemicals business sector plays an important role in also implementing these technologies into tailored, innovative products for our customers worldwide," said Dr Klaus Bofinger, Senior-Vice President, Advanced Technologies, Merck."
Head of School, Professor John Evans commented: "this is an example of a strong academic lead - with Geoffrey as the key figure in Southampton - being very influential in a commercial decision. A true example of impact."

redpajama_set_name: RedPajamaCommonCrawl


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MayorFirst LadyNewsOfficials
City Updates New Yorkers on Vaccine Preparedness
NEW YORKCho tiền trò chơi đậu phụ—Today Mayor de Blasio announced additional preparations for vaccine distribution. The City is expected to receive 465,000 doses of the vaccine by the beginning of January.
"With a vaccine on the horizon, we are in the last big battle against the virus," said Mayor Bill de Blasio. "Hope is finally on the way, but we must stay vigilant to get through these winter months. We need New Yorkers to keep doing what we know works: wear a mask, get tested, socially distance, and if you're a senior citizen or have a pre-existing medical condition, stay home as much as possible."
"The vaccine is one step to protect New Yorkers, especially our extraordinarily dedicated health care heroes," said Health Commissioner Dr. Dave A. ChokshiCho tiền trò chơi đậu phụ. "As the broader public awaits a vaccine, remember that we have other sources of protection, namely those precautions that brought COVID-19 under control the first time around—masking, distancing, hand-washing and staying home."
In accordance with State and CDC guidelines, the initial expected doses will be given to nursing homes and health care personnel performing high-risk activities. The first shipments of the vaccine will be sent to hospitals, who have the capacity for ultracold storage, which is required for the Pfizer vaccine. Other healthcare personnel will receive vaccine next. To ensure equity in distribution, the City will also prioritize vaccination for residents and communities of color in the 27 neighborhoods that had been disproportionately hard hit in the spring,
The Health Department is prepared to stand up and operate temporary sites for additional capacity to supplement hospital vaccinations. Additionally, the Centers for Disease Control is operating a program in partnership with pharmacies to bring vaccination to long-term care facilities throughout the country. Through this program, providers from CVS and Walgreens will bring vaccines and needed supplies to long-term care facilities to vaccinate both residents and staff.
Additionally, Health Department has been working closely with healthcare providers in New York City to prepare for forthcoming vaccine distribution. This has included sharing information on what we know about vaccine trials, timelines, and anticipated logistics for a campaign. The City is also continuing to enroll healthcare providers in the Citywide Immunization Registry, which allows the Health Department to track doses and vaccinations across healthcare providers within the City. The City is additionally prepared to launch sites citywide in coordination with emergency response partner agencies to offer vaccinations, ensuring access and availability citywide.
Yesterday, the FDA made public the data Pfizer provided in their Emergency Use Authorization application, which offers promising information about the safety and efficacy of the Pfizer vaccine. On Thursday, an independent FDA advisory committee is scheduled to discuss authorization. The FDA could issue the Emergency Use Authorization as soon as Saturday, and if so, on Sunday a CDC advisory committee will also meet and vote on clinical guidance to accompany the vaccine rollout. If all goes according to plan, the first doses of the Pfizer vaccine could arrive as early as next Tuesday, December 15th. A similar process will unfold for the Moderna vaccine, which could arrive a week or two after the Pfizer vaccine.
Cho tiền trò chơi đậu phụAhead of next week, providers like BronxCare have now conducted trial runs of the COVID vaccine ordering process, from submitting the other all the way to facility confirming receipt of a test package.
pressoffice@cityhall.nyc.gov
Cho tiền trò chơi đậu phụ(212) 788-2958


Filmmaker and visual artist Helen Anna Flanagan took a moment to engage in conversation with The Film and Video Poetry Society about the film The Dynamists. This short experimental film involves twelve disruptive teenagers and poet (as well as front man for the band Von Plastik) Herr Amadeus von Krank. Alluding to the Coming of Age movie genre, with its 'rites of passage', the video attempts to capture the transitional instability of adolescence and proposes disruption and conflict as an essential part to growth. Let's get started.
FVPS: Filmmakers who practice experimental film often have various ways of defining it. What are the parameters that may guide you through the creation of your work within this genre?
HELEN ANNA FLANAGAN: Experimental film for me is about resisting categorization and playing with conventions and expectations, reworking or skewing them. My films often start with an idea that transforms and builds itself by bridging gaps. As for parameters, I would rather my work be open to multiple readings and think that this somehow comes naturally with my personal way of working. There is always some internal logic to the scripts and film, but it is not always so clear or enforced. I think it is more beneficial when things are reinterpreted, or misunderstood.
FVPS: What role does poetry play within your film The Dynamists? For instance, poet and performing artist Herr Amadeus Von Krank reads a simple recipe and then reads the words of his own poetry.
HELEN ANNA FLANAGAN: The fluctuation from one text to another was triggered by forms of disruption. The banal pancake recipe in English is juxtaposed with Herr's poetry in Dutch and this creates a violent dance between language and comprehension. I am interested in how dialogue can go in many spontaneous directions, that communication has the possibility to go somewhere completely different when interrupted, or through it's own breaking. Also, the text offers contrast not only because of the different languages spoken, but because of the nature of the text. The recipe can be considered instructional and the poetic lines as expressive. The idea of the fragment plays an important role for both here, and each of these texts relies on that as a sort of tempo… A broken tempo, I guess.
Still from the film The Dynamists (2017). Poet, musician, and performing artist Herr Amadeus von Krank.
FVPS: How do you conceptualize sound and silence within your films?
HELEN ANNA FLANAGAN: The sound or music in each film is related to the overall concept of the video i'm making at the time. The Dynamists has a cover of Shout by Tears for Fears, by Herr's current Belgium band Von Plastik. As with Herr's language that breaks, much like an adolescents voice when going through puberty, so does this specific track through the edit. The music accompanies the end part of the film showing an overview of the young teenagers in a sort of group tableau scene. Every time there is a physical slap of a person or the crash of a skateboard, the track suddenly stops and there is a violent and sudden cut to black. For me it was important for there to be the feeling something harsh and volatile was happening. The track itself is not only iconic and familiar, but the lyrics are also suggestive and relate back to the voice.
The Dynamists - Felix Weishut, Gust Stinckens, Liam Rossignuolo, Senne Martens, Dries Vandersmisseen, Aster Froyesn, Sasha Kerensky, Jonathan Veenhuysen, Lenny Gaethofs, Steven Brouns, Lisa Lahaije, En Mateo Reeskens.
FVPS: The description for The Dynamists says the film involves twelve disruptive teenage boys, though we think we see some girls in there. Have you taken an approach to gender as you characterized the ensemble within your film or does the cast symbolize a "general" attitude of adolescent spirit?
HELEN ANNA FLANAGAN: An initial influence, and where the name The Dynamists came from, was inspired by The Futurists art movement a - collective who emphasized youth, speed, violence, technology, etc and made works fixated on dynamic sensation. They were also known for being predominantly sexist and male-inclusive. The futurists embody an adolescent spirit, an energetic and unapologetic gang part of a temporary and short-lived moment in art history.
FVPS: When watching the film we can't help but think that you are frequently exposing and revealing new elements and factors to everyone on set and that there is never a chance to reshoot or find a moment once it has passed.
HELEN ANNA FLANAGAN: There is no rehearsal prior, but instead there is a loose script that forms the basis and guide for filming. Leaving the camera running was an important technique to capture more improvised and authentic moments, such as mistakes or hesitations, restlessness, boredom, exhaustion, etc. This means that certain parts cannot be reshot and are based on chance. That is always an exciting part about shooting - you can never fully determine or predict behaviors.
FVPS: Would you please muse for us on the relationship between poetry and cinema (in general) as here at the Film and Video Poetry Society we revere experimental film/ though reify cinema that is driven by the spoken poetry.
HELEN ANNA FLANAGAN: Poetry has the potential to create different positions and perspectives that relate to the medium of film. Film and the language of editing are based on sequencing, editing and timing; fragments put together to create a whole to try articulate or suggest something outside of itself.
I came across this quote that i've kept onto by Arthur Henry Hallam: 'Rhyme contains a constant appeal to memory and hope; it sets up an expectation, and reassures us when it arrives'. I think the same could be said for music, dance, film, etc. I think such rhythm or expectation can be played with to create different experiences or expectations, to disorientate and surprise. It's interesting after that to then try lull or seduce the viewer back into the safe reassurance of the familiar. A sort of compromise between different frequencies and resonances.
FVPS: Do you practice within any other mediums asides from film?
HELEN ANNA FLANAGAN: Most recently i've been experimenting with installation, or ways to present film or video in a space outside of the standard screening format by bringing in new materials. I am interested in having elements of a film come into a space in one way or another and to alter a viewers passive relationship to the thing that they watch. I am fascinated with the different ways you can access or watch moving images and how that changes your experience and relationship to it, the people you watch it with, or the space you are in.
FVPS: What would you like the viewers of your experimental films to learn or experience as they view your work?
HELEN ANNA FLANAGAN: I don't want to offer any clear or precise meaning. I hope that people can take something subjective from it, that they can engage and make their own associations, or be perplexed, entertained, confused, angry. I'm not exclusive to any specific feeling or emotion, but rather happy when people watch it or engage with it and construct their own meaning from it.
FVPS: Would you share with us what you may be working on presently?
HELEN ANNA FLANAGAN: I'm in the last parts of editing a new film called Swamps & Ponds i've made during a three month artist residency in Graz, Austria. It is loosely based on the speculative origins of the 19th century Styrian arsenic eaters, a collective of peasants known as the Toxicophagi who were written about by the physician and naturalist Johann Jakob von Tschudi in 1851. The Toxicophagi used arsenic regularly and were thought to have become immune to the poison due to regular doses. They ate the arsenic either to acquire a fresh complexion or to facilitate respiration when walking or working in the mountains. This poison is used as a symbolic starting point to explore the power of invisible substances or structures and the tolerance of an overlooked collective. By repurposing this compound, the aim is to explore the implications substances and 'invisible' toxic forces have on group formation and dissolution; hierarchies and power; and subcultures and intoxication.
FVPS: Wow. (mind blown) We are sure to research the Toxicophagi. Thank you very much Helen for taking the time to speak with us.
Helen Anna Flanagan's film The Dynamists is screening at 1:00pm on Saturday, April 28, 2018 during The Film and Video Poetry Symposiums PURE MERCURY film block at The Revive Theater on 12420 Santa Monica Boulevard in Los Angeles, California 90025. Click here for the full program.


Even though many educators and historians argue against the existence of racism in the south, it is much predominant in the South where several people suffer discrimination as a result of their racial background. For example, African-Americans are some of the most affected group by racism in the south. Due to early stigma of slave trade brutalities their parents and forefathers encountered, this group developed a deep psychological aspect of racism. Although the media and education unity tries to reduce the gap of racism some of the perceived effects of racism on this group may include xenophobia, supremacist, segregation, and copying. This is a clear indication that racism is alive to date as some groups of people, especially the whites assume superiority over other races.
In their work on racism, Hood and Quentin presented a very important aspect of racial differences among people living in the South. Despite the fact that Hood and Quentin focus on political inclinations of the southerners, they manage to focus on racial influences in making political decisions. The mobilization of blacks is done with racial intentions. These authors have managed to show that racism still exists in the south. For instance, they indicated that in the South, African-Americans were made to develop behavior justifying the white supremacy (Hood and Quentin 14). This approach made them to stay in their small cocoon without trying to challenge the white man in any field. The supremacy attitude is what led the blacks to suffer in poverty and fail to venture into scientific studies and researches (Hood and Quentin 18).
Manning Marable reviews black experience and the racial politics of the 21st century and its implications on the America, which can be applied to the deep-rooted racism in the South (Manning 108). The article acknowledge that the America, especially the south has had a huge history of racial dispute, and no matter the efforts to ameliorate the effects, small aspects of racist treatment will continue to be exhibited as long as blacks and whites coexist. In this case, the Latin Americans were the second most affected by racism after the African-American. These Mexican origins were lynched and brutally punished by the colonialists. The Mexicans were forcefully deported by the American during the Great Depression, the event later was found to include the American citizen. Some of the crucial elements highlighted by Palmer Colin, which is associated with liberation that helped individuals to attain independence, include individuals uprising against any form of victimization and oppression that proves the ineffectiveness of those in authority (Palmer 46). Therefore, individuals would consider enlightenment as a benchmark that allows people to differentiate right from wrong. Consequently, they will demand for their rights and privileges from the authority resulting in freedom. All these forms of changes are usually exposed to various barriers, but people must adopt the most appropriate practices to access freedom. However, the costs of freedom should not be harmful to interfere with the outcome of the struggle. Palmer's assertion of the need and ways of getting freedom are critical for both individuals and authorities (Palmer 54).
Both Manning and Palmer demonstrate the benefits of personal freedom. Through their illustration of ways of attaining freedom from exploitative authorities, they indicate varied approaches that warrant adoption. For the citizens, it is clear that democratic leadership that insists on the adherence to individuals' rights in every aspect signify freedom. They assert that, despite this outcome being thorough, it is important to instill efforts that will earn the common person all the respect and trust. On the other hand, it is vital to have a government that will make sure that citizens are free from any form of victimization or exploitation. In this case, the systems of the government should be restructured to reflect the need to enhance personal freedom. The consolidation of the efforts of citizens and the government leads to maximum individual independence.
According to the newspaper article "African-American culture and history of the black experience" by Colin Palmer, the author attempted to bring forth the hidden fact about inherently high levels of racism in South America. He asserted that the world is made to believe that this vice is long gone, but the reality is totally different. As postulated in this newspaper article racism resulted into high degree of segregation between the groups. They could not share motels or hotels (Palmer 5). The most known effects of racism were seen in South Africa between the whites and the African. The blacks and whites could not share anything in common. To date racism is still witnessed in some areas in America though in a lighter tone. This showed that the article explored the topic and asserted the existence of racism in the south.
The Arab group faced a lot of discrimination based on racism. The laws governing their immigration were tightened that only few could copy. The law required that their origin be clearly identified. Arab was to be distinguished whether white or black to gain entry in some territories. As presented in David White's article in a newspaper interview, Ron Sparks an aspiring governor dismisses reports that there is no racism in the south (White 2). Sparks acknowledge the existence of racism in Alabama. This interview is a manifestation of the remaining links to allude to the fact that the south is still racist like before on now that it is not widespread. Therefore, this article is crucial for tackling the topic of racism in South America. For example, on some occasions the blacks resolve to mediate the whites system. They started acting like the whites through dressing, language and other cultural beliefs. To extreme extents, some took to changing their skin color and avoided being associated with their native land. In summary, it is true to argue that racism is still in the South.


This one was called "Matthew".
We would spend hours each day tuned to radio, phone, and television updates. I used to joke that when you spend time in a place like Florida, every television you come in contact with-in your home, your hotel, lobbies, businesses and restaurants—will be tuned to the Weather Channel. It just comes with the territory and becomes a part of the landscape.
But as you tune into the situation, you try and get an idea of exactly how much this weather is going to affect you and your loved ones. You try to evaluate what to do, who to call, where to go and what to take. You follow the path of the storm and watch as the "cone" moves over your home. You tune in again and again to see if it's moved. You try a different station to see if you get better news.
You pray. You cry. You pray. You swear.
You second guess your decisions. You pray some more. And then you prepare as best you can.
Those of us who have been through them before know the drill—you gas up your car, visit the ATM, stock up on water and non-perishables (and make sure you have a manual can opener!), charge items up, you locate your flashlights and check them, and deal with a myriad of details on top of trying to sort out the rest of your life as though nothing is happening.
When you speak to folks in other places in either the US or abroad, even given as "connected" as people seem to be, many know nothing about the impending storm-or how it impacts you.
I think that's where hurricanes, given the technology we now have, differ than many other natural disasters. You do have time to prepare and make decisions.
People who have no options who are already displaced due to other natural disasters or matters beyond their control. People who make poor choices and choose to stay when really they should not. Or those that do not get to make a choice—small children, pets and livestock, even animal residents in zoos and aquatic parks–those who rely on someone else to be making the right choices for their care and survival.
As I write this, looking back on the days just prior, during and right after the storm that seem to stretch on forever, I am very thankful. For those that have asked, yes, we have suffered loss due to the storm. But not the kind that can't be fixed. That's what's important.
–to the many people who work in the hardware stores, who have their own families and lives to look out for, that were there in the wee hours of the morning with a smile and plywood/supplies to sell, or gas station owners who kept the pumps going and didn't double their prices, to the first responders who ALWAYS put others before themselves and lastly to the weathermen and women on all the networks and the Weather Channel who are behind those desks and in front of those maps—hour after hour, day after day as the storm tore through country after country. They would repeat over and over important information, forecasts and were the calm in the storm.
Although the storm is gone, it's presence will be felt for a long long time by many people in many places. So too will the lingering effects of debris be felt by those that either visit or live in the sea. Please be extra vigilant, pick up any debris and residual garbage from the water and beaches, both for your own safety and for those creatures who cannot look out for themselves.


The casino vote was a blow to Revere residents, but Lynn officials don't believe it will affect plans for the city's waterfront.
The state's gambling commission voted 3-1 Tuesday in favor of developer Steve Wynn's plan for a casino in Everett over Mohegan Sun's plans for Suffolk Downs. Revere Mayor Daniel Rizzo called the vote devastating and said job losses could be steep.
If, however, the vote triggers development that had been hinging one way or the other on the casino vote, it could open the door to jobs in Lynn.
Economic Development and Industrial Corporation Executive Director James Cowdell said Thursday that the major development of the waterfront includes three parcels: the Beacon Chevrolet site, across from Market Street; the GE site, commonly called the Gear Plant; and a parcel owned by Joseph O'Donnell.
Cowdell said O'Donnell, who owns a large parcel on the Lynnway, is the only developer with a direct tie to the casino vote because he's part owner of Suffolk Downs.
The difference, like Kennedy noted, is how he will market it, Cowdell said. Where O'Donnell might have once put a hotel, he will likely now look at mixed use.
Kennedy said a logical argument could still be made for a hotel at the south end of the Lynnway, and she would still like to see one, but with the loss of the casino, a major selling point has been eliminated.
"It is disappointing," she admitted.
The Beacon Chevrolet site is already under agreement, and the Gear Plant is expected to be under formal agreement by next week, Cowdell said.
"So no, I'm not worried about development," he added.
Developer Charles Patsios is working on the Gear Plant plan, and he said the casino vote has no effect whatsoever.
Patsios said plans for the 64-acre lot are in the very preliminary stages, but he is leaning towards creating a higher-end residential development with waterfront usage. He said he believes that now that the casino has been decided, it will spur more development. The city is in a good place and open for opportunity, he added.


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Which of the following type of concerns, the FINRA may at any time direct any member to cause an audit to be made for its accounts for the accuracy or integrity of a member?
The concerns regarding member's books and records or prior audited financial statements.
The concerns regarding member's investment, books and records or post audited financial statements.
The concerns regarding member's investment, books and records or prior audited financial statements.
The concerns regarding member's financial statements, books and records or prior audited financial statements.
FINRA may at any time, due to concerns regarding the accuracy or integrity of a member's financial statements, books and records or prior audited financial statements, direct any member to cause an audit to be made by an independent public accountant of its accounts.
Which of the following type of steps should be taken by the FINRA at any time for the concerns regarding the accuracy or integrity of a member's financial statements, books and records or prior audited financial statements?
FINRA may direct any person to cause an audit to be made by a public accountant of its accounts.
FINRA may cause an examination to be made in accordance with attestation, review or consultation standards prescribed by the AICPA.
FINRA may cause an examination to be made in accordance with attestation, review or consultation standards prescribed by the FINRA.
FINRA may direct any person to cause an audit to be made by an executive vice president of its accounts.
FINRA may at any time, due to concerns regarding the accuracy or integrity of a member's financial statements, books and records or prior audited financial statements, direct any member to cause an audit to be made by an independent public accountant of its accounts, or cause an examination to be made in accordance with attestation, review or consultation standards prescribed by the AICPA.
The audit or examination should be directed by which of the following authority, for the concerns regarding the accuracy or integrity of a member's financial statements, books and records or prior audited financial statements?
The audit or examination shall be directed pursuant to the authority exercised by FINRA's Executive Vice President charged with oversight for financial responsibility.
The audit or examination shall be directed pursuant to the authority exercised by AICPA's Executive Vice President written officer delegate.
The audit or examination shall be made in accordance with such requirements as AICPA may prescribe.
The audit or examination shall be directed pursuant to the authority exercised by FINRA's Executive officer with oversight for financial responsibility.
FINRA may at any time, due to concerns regarding the accuracy or integrity of a member's financial statements, books and records or prior audited financial statements, direct any member to cause an audit to be made by an independent public accountant of its accounts. Such audit or examination shall be directed pursuant to authority exercised by FINRA's Executive Vice President charged with oversight for financial responsibility.
What is the format for the submission of all regulatory notices or other documents that are required to be submitted to FINRA by each member?
Each member shall submit in such electronic format as AICPA may require.
Each member shall submit in such digital format as FINRA may require.
Each member shall submit in such electronic format as FINRA may require.
Each member shall submit in such digital format as AICPA may require.
Each member shall be required to submit all regulatory notices or other documents that required to be submitted to FINRA in such electronic format as required or specified by the FINRA.
Which of the following type of actions should be taken by each member as required by Article IV, Section 3 of the FINRA By-Laws in the manner prescribed by FINRA Rules 4517?
Each member shall be required to file with FINRA in such an electronic format as AICPA may require.
Each member shall submit in such a digital format and update its executive representative designation and contact information as FINRA may require.
Each member must identify, review and, if necessary, update its executive representative designation and contact information.
Each member must identify its executive representative designation and contact information.
Each member must identify, review and, if necessary, update its executive representative designation and contact information as required by Article IV, Section 3 of the FINRA By-Laws in the manner prescribed by FINRA Rules 4517.
In the FINRA Rule 4517 "Member Filing and Contact Information Requirements", what method should be adopted by each member to report and update all required contact information to FINRA?
Each member should report and update via the company website.
Each member should report and update via the Firm Gateway or such other means as specified by the FINRA.
Each member should report and update via the written letter.
Each member should report and update via the Firm Gateway or such other means as specified by the AICPA.
In the FINRA Rule 4517 "Member Filing and Contact Information Requirements", each member shall report and update to FINRA all required contact information via the Firm Gateway or such other means as specified by the FINRA.
In the FINRA Rule 4517 (Member Filing and Contact Information Requirements), within how many days each member should update its required contact information promptly after any change in such information?
Not later than 30 days following any change in such information.
No change is required in any such information.
Within 15 business days after the end of each calendar year.
In the FINRA Rule 4517 (Member Filing and Contact Information Requirements), each member shall update its required contact information promptly, but in any event not later than 30 days following any change in such information. In addition, each member shall review and if necessary update its required contact information within 17 business days after the end of each calendar year.
In the FINRA Rule 4517 (Member Filing and Contact Information Requirements), within how many days each member should review, and if necessary update its required contact information?
In the FINRA Rule 4517 (Member Filing and Contact Information Requirements), how much time required for each member to comply with FINRA request for the required contact information promptly?
Not later than 15 days following the request.
Such a longer period that may be agreed to by AICPA staff.
Such a longer period that may be agreed to by SEC staff.
Each member shall comply with any FINRA request for the required contact information promptly, but in any event not later than 15 days following the request or such longer period that may be agreed by FINRA staff.
In the FINRA Rule 4523 (Assignment of Responsibility for General Ledger Accounts and Identification of Suspense Accounts), an associated person who shall be responsible for each general ledger bookkeeping account and account of a like function used by the member designated by which of the following authority?
FINRA shall designate an associated person.
Each member shall designate an associated person.
An associated person shall be designated by the AICPA.
An associated person shall be designated by the SEC.
Each member shall designate an associated person who shall be responsible for each general ledger bookkeeping account and account of a like function used by the member and such associated person shall control and oversee entries into each such account and shall determine that the account is current and accurate as necessary to comply with all applicable FINRA rules and federal securities laws governing books and records and financial responsibility requirements.
In the FINRA Rule 4523 (Assignment of Responsibility for General Ledger Accounts and Identification of Suspense Accounts), what is the time period required for a supervisor to review each general ledger bookkeeping account to determine that is current and accurate?
A supervisor at least weekly review each account.
A supervisor at least quarterly review each account.
A supervisor at least yearly review each account.
A supervisor at least monthly review each account.
A supervisor shall as frequently as is necessary considering the function of the account but, in any event at least monthly review each account to determine that it is current and accurate and that any items that become aged or uncertain as to resolution are promptly identified for research and possible transfer to a suspense account(s).
In the FINRA Rule 4523 (Assignment of Responsibility for General Ledger Accounts and Identification of Suspense Accounts), each general ledger bookkeeping account should be reviewed by a supervisor on monthly basis for which of the following purposes?
Reviewed to determine that it is accurate.
Reviewed to determine that it is current and accurate.
Reviewed to determine that it is current.
Reviewed to determine that it is good.
In the FINRA Rule 4523 (Assignment of Responsibility for General Ledger Accounts and Identification of Suspense Accounts), what type of record should be maintained by each carrying or clearing member for each general ledger bookkeeping account?
Each carrying or clearing member shall maintain a record of suspense account.
Each carrying or clearing member shall maintain a record of the current account.
Each carrying or clearing member shall maintain a record of the address of the associated persons.
Each carrying or clearing member shall maintain a record of the names of the associated persons assigned primary and supervisory responsibility.
Each carrying or clearing member shall maintain a record of the names of the associated persons assigned primary and supervisory responsibility for each general ledger bookkeeping account.
In the FINRA Rule 4523 (Assignment of Responsibility for General Ledger Accounts and Identification of Suspense Accounts), what is the time limit for the preservation of all records related to the names of associated persons assigned primary and supervisory responsibility for each general ledger bookkeeping account?
All records shall be preserved for a period of not less than one year.
All records shall be preserved for a period of not less than six months.
All records shall be preserved for a period of not less than six years.
All records shall be preserved for a period of not less than nine months.
All records related to the names of associated persons assigned primary and supervisory responsibility for each general ledger bookkeeping account should be preserved for a period of not less than six years.
In the FINRA Rule 4523 (Assignment of Responsibility for General Ledger Accounts and Identification of Suspense Accounts), each member must record, its money charges or credits and receipts or deliveries of securities whose ultimate disposition is pending determination to which of the following account?
In an account that shall be clearly identified as a current account.
In an account that shall be clearly identified as a suspense account.
In an account maintained individually by each member.
In an account maintained by FINRA.
Each member must record its money charges or credits and receipts or deliveries of securities whose ultimate disposition is pending determination in an account that shall be clearly identified as a suspense account.
In the FINRA Rule 4523 (Assignment of Responsibility for General Ledger Accounts and Identification of Suspense Accounts), which type of information is recorded by each member in an account that shall be clearly identified as a suspense account?
Money charges or credits and receipts or deliveries of securities whose ultimate disposition is pending determination.
Deliveries of securities whose ultimate disposition is pending determination.
Money charges of securities whose ultimate disposition is pending determination.
Money charges or credits and receipts or deliveries of securities whose ultimate disposition has been determined.
In the FINRA Rule 4523 (Assignment of Responsibility for General Ledger Accounts and Identification of Suspense Accounts), what information is used to separate and prominent suspense account that maintained for money charges or credits and receipts or deliveries of securities whose ultimate disposition is pending determination?
The word "FINRA" is used that made a prominent part of the account title.
The word "current" is used that made a prominent part of the account title.
The word "suspense" is used that made a prominent part of the account title.
The word "ledger account" is used that made a prominent part of the account title.
The word "suspense" is used that made a prominent part of the account title to separate suspense account that maintained for money charges or credits and receipts or deliveries of securities whose ultimate disposition is pending determination.
In the FINRA Rule 4523 (Assignment of Responsibility for General Ledger Accounts and Identification of Suspense Accounts), what is the time limit for the preservation of Each member record in terms of its money charges or credits and receipts or deliveries of securities whose ultimate disposition is pending determination in an account that shall be clearly identified as a suspense account?
Each member record in terms of its money charges or credits and receipts or deliveries of securities whose ultimate disposition is pending determination in an account that shall be clearly identified as a suspense account shall be preserved for a period of not less than six years.
In the FINRA Rule 4523 (Assignment of Responsibility for General Ledger Accounts and Identification of Suspense Accounts), who can assign primary and supervisory responsibility for each account, subject to applicable registration requirements?
Each member with two associated persons may assign primary and supervisory responsibility.
FINRA may assign primary and supervisory responsibility.
Each member with only one associated person may assign primary and supervisory responsibility.
AICPA may assign primary and supervisory responsibility.
Each member with only one associated person may assign primary and supervisory responsibility for each account to that associated person, subject to applicable registration requirements.
In the FINRA Rule 4523 (Assignment of Responsibility for General Ledger Accounts and Identification of Suspense Accounts), which type of responsibilities for each account may be assigned by each member with only one associated person, subject to applicable registration requirements?
Each member with only one associated person may assign primary and supervisory responsibility for each account.
Each member with only one associated person may assign supervisory responsibility for each account.
Each member with only one associated person may assign primary responsibility for each account.
Each member with only one associated person may assign secondary and management responsibility for each account.
In the FINRA Rule 4523 (Assignment of Responsibility for General Ledger Accounts and Identification of Suspense Accounts), wherefrom written approval should be taken by members of limited size and resources that have more than one associated person to assign primary and supervisory responsibility for each account to the same associated person?
Prior written approval should be taken from FINRA.
Prior written approval should be taken from AICPA.
Prior written approval should be taken from the SEC.
No prior written approval is required.
Members of limited size and resources that have more than one associated person may seek FINRA's prior written approval to assign primary and supervisory responsibility for each account to the same associated person.
In the FINRA Rule 4524 (Supplemental FOCUS Information), which type of supplement information should be filled as FOCUS reports required pursuant to SEA Rule 17a-5 and FINRA Rule 2010 by each FINRA's designated member for the protection of investors or in the public interest?
File such operational schedules as FINRA may deem necessary or appropriate.
File such reports as FINRA may deem necessary or appropriate.
File such additional financial or operational schedules or reports as AICPA may deem necessary or appropriate.
File such additional financial or operational schedules or reports as FINRA may deem necessary or appropriate.
As a supplement to filing FOCUS reports required pursuant to SEA Rule 17a-5 and FINRA Rule 2010, each FINRA's designated member shall file such additional financial or operational schedules or reports as FINRA may deem necessary or appropriate for the protection of investors or in the public interest.
In the FINRA Rule 4524 (Supplemental FOCUS Information), the content of financial or operational schedules or reports, their format, and the timing and the frequency of such supplemental filings shall be specified in which of the following?
Specified on FINRA's website.
Specified in a Regulatory Notice (or similar communication) issued pursuant to this Rule.
Specified on the company website.
Specified on social media.
The content of financial or operational schedules or reports, their format, and the timing and the frequency of such supplemental filings shall be specified in a Regulatory Notice (or similar communication) issued pursuant to this Rule.
In the FINRA Rule 4524 (Supplemental FOCUS Information), which type of content should be specified in a Regulatory Notice (or similar communication) issued pursuant to this Rule?
The content of financial or operational schedules and the frequency of such supplemental filings shall be specified.
The content of financial or operational schedules or reports, their format, and the timing and the frequency of such supplemental filings shall be specified.
The content of reports, their format, and the timing and the frequency of such supplemental filings shall be specified.
The content of reports and the frequency of such supplemental filings shall be specified.
In the FINRA Rule 2261 (Disclosure of Financial Condition), which type of information should be made available by a member for inspection by a bona fide regular customer upon his request?
The information is relative to such a member's financial condition as disclosed in its most recent balance sheet.
The information is relative to member's usual practice or as required by any market or federal securities laws, or any rule or regulation.
The information is relative to such a member's business condition as disclosed in its most recent balance sheet.
The information is relative to the member's usual practice required by any state or any rule or regulation.
A member shall make available the information relative to such member's financial condition as disclosed in its most recent balance sheet prepared either in accordance with such member's usual practice or as required by any state or federal securities laws, or any rule or regulation thereunder to inspection by any bona fide regular customer upon request.
In the FINRA Rule 2261 (Disclosure of Financial Condition), the information relative to such member's financial condition as disclosed in its most recent balance sheet, what method is used by a member to deliver the balance sheet to the requesting bona fide regular customer?
A member should not deliver the balance sheet to the requesting bona fide regular customer.
A member may deliver the balance sheet to the requesting bona fide regular customer in the paper.
A member may deliver the balance sheet to the requesting bona fide regular customer in electronic form.
A member may deliver the balance sheet to the requesting bona fide regular customer in paper or electronic form.
In lieu of making such a balance sheet available to inspection, a member may deliver the balance sheet to the requesting bona fide regular customer in paper or electronic form; provided that with respect to electronic delivery, the customer must consent to receive the balance sheet in electronic form.
In the FINRA Rule 2261 (Disclosure of Financial Condition), which of the following person is recognized as bona fide regular customer?
The bona fide regular customer means any person who has cash in the possession of such a member in the regular course of such member's business.
The bona fide regular customer means any person who has cash or securities in the possession of such a member in the regular course of such member's business.
The bona fide regular customer means any person who has account details in the possession of such a member in the regular course of such member's business.
The bona fide regular customer means any person who is approved by the FINRA.
The bona fide regular customer means any person who has cash or securities in the possession of such a member in the regular course of such member's business.
In the FINRA Rule 1017, which of the following conditions a member should file an application for approval of any changes to its ownership, control, or business operations?
A merger of the member with another member, unless both are members of the New York Stock Exchange, Inc.
The surviving entity will continue to be a member of the Hong Kong Stock Exchange, Inc.
A merger of the member with another member, unless both are members of the Hong Kong Stock Exchange, Inc.
A member should file an application for approval when there are any changes to its ownership, control, or business operations in a case, a merger of the member with another member unless both are members of the New York Stock Exchange, Inc. or the surviving entity will continue to be a member of the New York Stock Exchange, Inc.
Direct or indirect acquisition by the member of another member, unless the acquiring member is a member of the New York Stock Exchange, Inc.
A member should file an application for approval when there are any changes to its ownership, control, or business operations in a case, a direct or indirect acquisition by the member of another member unless the acquiring member is a member of the New York Stock Exchange, Inc.
In the FINRA Rule 1017 (Application for Approval of Change in Ownership, Control, or Business Operations), how many months rolling required to measure aggregate of the member's earnings to file an application for direct or indirect acquisitions or transfers of 25 percent or more in the aggregate of the member's assets that generates revenues composing 25 percent or more in the aggregate?
The aggregate of the member's earnings measured on a rolling 12-month basis unless both the seller and acquirer are members of the New York Stock Exchange, Inc.
The aggregate of the member's earnings measured on a rolling 18-month basis unless both the seller and acquirer are members of the Hong Kong Stock Exchange, Inc.


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Person suffering from diabetes needs to eat right to maintain healthy sugar levels. Poor eating not only aggravates the problem but also promote damage to organs and nerves of the body due to sudden surge in sugar levels. Diabetes is a metabolic disorder which is for life, eating diet which can prevent sugar rise in blood and maintain energy levels and curb side effects of the problem allows a person to lead a normal life.
Low energy level is one of the troubling side effects of diabetes. Since body is unable to metabolize sugar for energy so body gets low energy supplementation which males a person lethargic and invigorate intensity of other side effects of the problem. Diabetic diet plan is collection of foods which are low on glycemic index, sodium, saturated fats and low on carbohydrates. Diabetic diet plan shall not contain foods which supplement trans-fat and are low on fibre.
The best diabetic diet plan shall not allow a person to remain on an empty stomach during any time of the day or night and shall supplement big dose of fibre, healthy fats, healthy carbohydrates and hypoglycemic compounds which bring down high blood sugar levels in blood. Here are few foods which person suffering from diabetes can eat without any worries, these foods are high on fibre and low on glycemic index and carbs.
Apple is very effective in lowering LDL, the harmful fat which gets deposited in body and blood vessels and puts pressure on heart. This fruit comes loaded with fibre and nutrients and is excellent source of antioxidants. Other fruits which are very useful and shall be included in diabetic diet plan are melon, avocado and red grapefruit. These fruits are high on fibre and dense in mineral content. These do not possess sugar raising properties and keep energy levels higher.
Asparagus is wonder food for diabetics, heart patients and those suffering with cancer. The antioxidant found in this vegetable is glutathione which is very useful in preventing effects of ageing and diseases like diabetes. It is rich source of vitamins and crucial minerals like iron.
Other than this you shall also have good dose of berries like cranberries, blue berries and raspberries on regular basis. Include stalk of celery and tomato as regular part of your salad platter. You can drink tomato juice one glass a day to supplement diabetic diet plan.
These too are wonderful supplements for a diabetic diet plan. All types of beans are rich sources of dietary fibre and reduce chances of first-time stroke considerably. You can eat one bowl of beans during the day without adding extra salt and preferably boiled to gain entire benefits.
Like beans all types of lentils too are good foods to be included in a diabetic diet plan. These too shall be cooked but not over-cooked and consumed with little or no salt and spices. The high fibre and nutrition beans and lentils provide help in minimizing side effects of the disease.
All types of vegetables are safe for a diabetic but some of these have special properties which make them necessary part of diabetic diet plan. Carrots, spinach, kale, broccoli, red peppers and tomatoes are on top of the list for a diabetic diet plan.
These are nutrient-dense vegetables and high on fibre and keep a person high on energy and low on sugar levels. Include onion and garlic while cooking these vegetables or as salad ingredients regularly to gain nutrition and curb high sugar levels.
Amongst grains, oatmeal, quinoa and brown rice are most beneficial and shall form core of diabetic diet plan. Gram flour in limited dosage is also acceptable due to its high fibre content and ability to soak-up acids in stomach. Whole wheat, wholegrain pasta and wholegrain breads shall be used in the diet and avoid all types of refined grains as these are rich in glucose supplementing carbohydrates.
Soy products are also good part of diabetic diet plan as these are perfect swap for high protein foods which are also high on fat. These supplement range of minerals including iron and zinc and supplement protein in a big dose. Sugar-free yoghurt and fish are other food types which are sources of minerals, fish in particular supplement omega-3 fatty acids which lower fat concentration in body and shield ill-effects of diabetes.
Include flaxseeds and nuts in diabetic diet plan. These can be snacks or salad ingredients and are source of nutrients which body requires for staying high on energy and immunity despite of diabetes.
Almonds, walnuts, pistachios and cashews are good nuts to eat but use these unsalted. Avoid raisins as these may increase level of sugar. Drink green tea few times in a day this tea supplements active and powerful antioxidants and curb ill-effects of sugar, do not add any sweetener not even honey, green tea itself has natural sweetness which is enough for a diabetic. You can include black tea in your diabetic diet plan in absence of green tea.


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text:
Port infrastructure: enhancing port security
SUMMARY OF:
Directive 2005/65/EC on enhancing port security
WHAT IS THE AIM OF THE DIRECTIVE?
The main objective of the directive is to introduce measures to improve security in European Union (EU) ports in the face of threats of security incidents. To achieve this, the directive aims to establish an EU framework to guarantee a high and comparable level of security in all EU ports. This framework shall consist of common basic rules on port security measures, an implementation mechanism for these rules, and appropriate compliance monitoring mechanisms.
This directive complements Regulation (EC) No 725/2004 on ship and port facility security and the measures laid out by the Commission in May 2003 (COM(2003) 229 final). Together, these provide the necessary framework to protect the whole chain of maritime transport logistics (from the ship to the port, the interface between the ship and the port and the whole port area) against the risk of unlawful attacks on EU territory.
The directive applies to people, infrastructure and equipment (including means of transport) in ports and adjacent areas.
Port security authority and security plans
EU countries must designate a port security authority for each port. A port security authority may be designated for more than one port. This authority is responsible for identifying and taking the necessary port security measures in line with port security assessments and plans.
EU countries must ensure that port security plans are developed, maintained and updated, with a detailed description of the measures taken to enhance port security (such as the conditions of access to ports or the measures applicable to baggage and cargo). EU countries must also monitor security plans and their implementation, and specify penalties for non-conformity.
Different security levels are set out according to the perceived risk (normal, heightened or imminent threat), namely:
security level 1: the level for which minimum protective security measures must be maintained at all times;
security level 2: the level for which appropriate additional protective security measures must be maintained for a period of time as a result of heightened risk of security incident;
security level 3: the level for which further specific protective security measures must be maintained for a limited period of time when a security incident is probable, although it may not be possible to identify the specific target.
EU countries must notify the security level in force for each port and any changes to the security level.
Port security officer
EU countries must approve a security officer in each port.
Where possible each port should have a different port security officer. However, if necessary, several ports may share a security officer.
These officers act as the contact point for issues related to port security issues and should have sufficient authority and local knowledge to adequately ensure and coordinate the establishment, updating and follow-up of port security assessments and port security plans.
EU countries must ensure that port security assessments and port security plans are reviewed every time security-relevant changes occur, and at least every 5 years.
FROM WHEN DOES THE DIRECTIVE APPLY?
It has applied since 15 December 2005 and it had to become law in the EU countries by 15 June 2007.
Following the COVID-19 outbreak and introducing measures to cope with the impact of the crisis, the European Commission adopted:
Communication from the Commission — Guidelines on protection of health, repatriation and travel arrangements for seafarers, passengers and other persons on board ships.
Directive 2005/65/EC of the European Parliament and of the Council of 26 October 2005 on enhancing port security (OJ L 310, 25.11.2005, pp. 28-39)
Successive amendments to Directive 2005/65/EC have been incorporated in the original text. This consolidated version is of documentary value only.
Report from the Commission to the Council and the European Parliament — Report assessing the implementation of the Directive on enhancing port security (COM(2009)002 final, 20.1.2009)
Commission Regulation (EC) No 324/2008 of 9 April 2008 laying down revised procedures for conducting Commission inspections in the field of maritime security (OJ L 98, 10.4.2008, pp. 5-10)
See consolidated version.


Cricket West Indies (CWI) has been given one demerit point for the Antigua pitch that hosted the second Test of the Wisden series between the Windies and England.
Guardian Media Sports understands that match referee Jeff Crowe has informed the International Cricket Council (ICC) that the pitch was 'below average' and as such they have given the ground one demerit point. It means that within the next five period, the venue must stay away from getting another four demerit points, as five points over a five-year period will mean that the pitch will get a one-year suspension as a Test venue.
Pitches deemed to be 'unfit' are given five demerit points, 'poor' pitches are given three points and 'below average' strips are given one demerit point. Any ground which receives five demerit points over a five-year period will be banned from hosting internationals for 12 months. They can be banned for two years if they receive 10.
Although the Windies won the second Test match to take away the Wisden Trophy 2-0, players from both teams mentioned in interviews that the pitch was not easy to play on.
Some balls were climbing alarmingly, while others were keeping very low which was disconcerting for the batsmen. A number of them were wearing badges from hits to the person.
England was bowled out for 187 and 108, while the Windies made 306 and 17 without loss.
Back in 2009, the first Test match at this venue was called off after only 10 deliveries because of an unfit outfield. The sand base outfield made running in for the fast bowlers very difficult and the umpires called off the Test match. The authorities in Antigua then had one year to sort out the outfield, which they did and international cricket has been played at the venue ever since.