Tag Archives: Final Rule

Business, Finance, Occupation & Industry

Hudson Technologies Reports the EPA's Issuance of Final Rule on HCFC Allowances for 2013 and 2014

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By Business Wirevia The Motley Fool

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Hudson Technologies Reports the EPA’s Issuance of Final Rule on HCFC Allowances for 2013 and 2014

PEARL RIVER, N.Y.–(BUSINESS WIRE)– Hudson Technologies, Inc. (NAS: HDSN) , announced that the Environmental Protection Agency (EPA) issued its Final Rule on March 27 pertaining to allowances for virgin HCFC (R-22) for 2013 and 2014 and the previously noted recoupment allowances. The Final Rule provides for virgin R-22 allowances of 63 million pounds in 2013 and 51 million pounds in 2014.

Kevin Zugibe, Hudson’s Chairman and CEO, stated, “The EPA‘s issuance of a final rule has provided certainty to our industry regarding 2013 and 2014 and the clarity needed to fully implement our growth strategy. While the final rule provides for more allowances than the EPA‘s 2013 no action assurance letter, we continue to believe that the aftermarket demand for R-22 exceeds the total allowances and that reclaimed R-22 will bridge the supply and demand gap. Lastly, we look forward to the EPA‘s issuance next year of its rule for the period 2015 through 2019 and the ultimate phase-out of virgin R-22 by December 31, 2019.”

The final rule will become effective on the date of publication in the Federal Register. A pre-publication copy of the rule is available at http://www.epa.gov/ozone/title6/phaseout/2012-2014HCFCs_web.pdf

About Hudson Technologies

Hudson Technologies, Inc. is a leading provider of innovative solutions to recurring problems within the refrigeration industry. Hudson’s proprietary RefrigerantSide® Services increase operating efficiency and energy savings, and remove moisture, oils and other contaminants frequently found in the refrigeration circuits of large comfort cooling and process refrigeration systems. Performed at a customer’s site as an integral part of an effective scheduled maintenance program or in response to emergencies, RefrigerantSide® Services offer significant savings to customers due to their ability to be completed rapidly and at higher purity levels, and can be utilized while the customer’s system continues to operate. In addition, the Company sells refrigerants and provides traditional reclamation services to the commercial and industrial air conditioning and refrigeration markets. For further information on Hudson, please visit the Company’s web site at www.hudsontech.com.

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Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

BofA Merrill Launches Dodd-Frank Payments Solutions for Financial Institution Clients

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By Business Wirevia The Motley Fool

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BofA Merrill Launches Dodd-Frank Payments Solutions for Financial Institution Clients

NEW YORK–(BUSINESS WIRE)– Bank of America Merrill Lynch, a leader in global payments, today announced the formal launch of a set of solutions for financial institution clients to address new requirements for conducting cross-border payments as outlined by the Dodd-Frank Remittance Regulation 1073 (DF-1073). The solutions, which were initially developed last year, have been enhanced over the last six months with customizable features and will be updated whenthe Final Rule is published by the Consumer Financial Protection Bureau.

“Bank of America Merrill Lynch is proud to be at the forefront of developing DF-1073 solutions that will help our clients not only evolve with the marketplace and expand their global payment business, but importantly serve their own retail customers as comprehensively and seamlessly as possible,” said Paul Simpson, head of Global Transaction Services (GTS).

“The initiative combines the considerable expertise – including systems and technology – of the Consumer Bank, with that of our wholesale business, which has a long history of operating in overseas markets and delivering payments around the world,” Simpson added.

Bank of America’s Consumer Bank is one of the largest in the country, serving 53 million individuals and small businesses across the United States. Through close collaboration with the Consumer Bank, Bank of America Merrill Lynch created optimal solutions for DF-1073 that leverage the company’s knowledge of best practices in retail banking along with the wholesale bank’s expertise in cross-border payments and foreign bank payment practices.

The lead products addressing DF-1073 requirements are FXtransact White Label and Bank of America Merrill Lynch Information Exchange for Payments. These solutions provide clients comprehensive access to fee, tax, availability date information, and disclosure capabilities. The solutions also help clients reduce costs by improving straight-through processing and by removing manual processes.

As one of the first banks in 2012 to develop a Dodd-Frank offering, the company has on-boarded a number of financial institutions – from large national banks to small community banks. “We are working with several clients of various sizes and degrees of complexity to solve for the new requirements of Dodd-Frank 1073,” said Greg Murray, head of U.S. Dollar Wire and Clearing Products in GTS. “By adopting our solutions, our clients have the ability to make payments within the new regulatory framework in more than 140 currencies, including the U.S. dollar, across 200 countries and territories.”

Bank of America
Bank of America is one of the world’s largest financial institutions, serving individual consumers, small- and middle-market …read more
Source: FULL ARTICLE at DailyFinance