netrashetty
Netra Shetty
The Federal Home Loan Mortgage Corporation (FHLMC), known as Freddie Mac (OTCBB: FMCC), is a public government sponsored enterprise (GSE), headquartered in the Tyson's Corner CDP in unincorporated Fairfax County, Virginia.[3][4]
The FHLMC was created in 1970 to expand the secondary market for mortgages in the US. Along with other GSEs, Freddie Mac buys mortgages on the secondary market, pools them, and sells them as a mortgage-backed security to investors on the open market. This secondary mortgage market increases the supply of money available for mortgage lending and increases the money available for new home purchases. The name, "Freddie Mac", is an acronym of the company's full name that had been adopted officially for ease of identification (see "GSEs" below for other examples).
On September 7, 2008, Federal Housing Finance Agency (FHFA) director James B. Lockhart III announced he had put Fannie Mae and Freddie Mac under the conservatorship of the FHFA (see Federal takeover of Fannie Mae and Freddie Mac). The action has been described as "one of the most sweeping government interventions in private financial markets in decades".[5][6][7]
Moody's gave Freddie Mac's preferred stock an investment grade rating of A1 until August 22, 2008 when Warren Buffett said publicly that both Freddie Mac and Fannie Mae had tried to attract him and others. Moody's changed the credit rating on that day to Baa3, the lowest investment grade credit rating. Freddie's senior debt credit rating remains Aaa/AAA from each of the major ratings agencies Moody's, S&P, and Fitch.[8]
As of the start of the conservatorship, the United States Department of the Treasury had contracted to acquire US$1 billion in Freddie Mac senior preferred stock, paying at a rate of 10 percent a year, and the total investment may subsequently rise to as much as US$100 billion.[9]
Home loan interest rates may go down as a result and owners of Freddie Mac debt and the Asian central banks who had increased their holdings in these bonds may be protected. Shares of Freddie Mac stock, however, plummeted to about one U.S. dollar on September 8, 2008 and dropped a further 50% on June 16, 2010 when the Federal Housing Finance Agency ordered the stocks delisted.[10] In 2008, the yield on U.S Treasury securities rose in anticipation of increased U.S. federal debt
Training Administration
Having planned the training program properly, you must now administer the training to the selected
employees. It is important to follow through to make sure the goals are being met. Questions to
consider before training begins include
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!
!
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Careful attention to these operational details will contribute to the success of the training program.
An effective training program administrator should follow these steps:
!
!
!
!
!
!
!
!
Following these steps will help an administrator develop an effective training program to ensure that
the firm keeps qualified employees who are productive, happy workers. This will contribute
positively to the bottom line.
Evaluation of Training
Training should be evaluated several times during the process. Determine these milestones when
you develop the training. Employees should be evaluated by comparing their newly acquired skills
Location.
Facilities.
Accessibility.
Comfort.
Equipment.
Timing.
Define the organizational objectives.
Determine the needs of the training program.
Define training goals.
Develop training methods.
Decide whom to train.
Decide who should do the training.
Administer the training.
Evaluate the training program.
with the skills defined by the goals of the training program. Any discrepancies should be noted and
adjustments made to the training program to enable it to meet specified goals. Many training
programs fall short of their expectations simply because the administrator failed to evaluate its
progress until it was too late. Timely evaluation will prevent the training from straying from its
goals.
I) The Scheme is applicable only to those who acquire qualification after 01.11.1988 while in service.
ii) The employee should have completed at least one year of service in the Corporation.
iii) The employee should have appeared in the examination for acquiring the qualification after appointment and during service in the Corporation and not prior to initial appointment in the .
iv) The qualification which will be taken into consideration for grant of incentive, under the scheme, will be those which are relevant in the respective discipline in which the employee is working. For this purpose, qualifications as prescribed under R&P Regulations will be taken into consideration. For example, Q-1 qualifications will be the same as prescribed for the various E-1 induction level posts under these regulations as amended from time to time and Q2 qualifications will be the qualifications as prescribed in the regulations ibid for direct recruitment to the top of Class-III posts in various disciplines. However, if an employee attains the qualifications of a discipline other than the discipline in which he/she is working, he/she will not be entitled to payment in incentive, under the scheme.
v) MBA which is a Q-1 qualification for P&A discipline is considered Q-1 qualification for other disciplines as well for grant of incentive under this scheme to non-executives.
2(A). SCHEME FOR GRANT OF INCENTIVES FOR ADOPTING SMALL FAMILY NORMS
PREAMBLE
(a) To motivate the employees to adopt small family norms in keeping with the national objectives.
(b) To encourage employees to have an "Ideal family" with a view to improving quality of life.
(c) To promote small family norms on voluntary basis.
1. SHORT TITLE AND COMMENCEMENT
This scheme may be called as Oil and Natural Gas Corporation Limited Scheme for grant of Incentives for adopting small family norms.
2. APPLICABILITY
This scheme shall be applicable to all employees in Regular Scales of pay in the Company.
3. LANGUAGES
The Regional Languages like MARATHI, GUJARATI, TAMIL, TELUGU, BANGLA, PUNJABI, ASSAMESE etc.
4. TEACHING COURSES
Each language will consist of the following teaching courses:
5. ELIGIBILITY :
For Prabodh of the respective Regional Language employees of the categories of drivers, technicians etc. in Class-III provided the mother tongue is not the respective regional language.
For Praveen of the respective Regional Language, all employees in Class-III categories excluding Class-IV, provided their mother tongue is not the respective regional language.
6. INTERPRRETATION
In case of any doubt regarding interpretation of any of the provisions of this scheme, the matter shall be referred to the Director (HR), who shall decide the same in consultation with Finance.
7. POWER TO RELAX
The power to relax any of the provisions under this scheme shall vest in the Head of the Region/Institute, (now Asset/ Basin Services/ RO) who shall exercise such powers in consultation with the associated Finance. At Headquarters, these powers shall be exercised by the Head of the Business Group in consultation with the associated Finance.
8. POWER TO AMEND
The Company may from time to time amend, modify or add to this scheme and all such amendments, modifications or additions shall take effect from the date stated therein.
9. REPEAL AND SAVING
10.1 The Existing instructions on "Oil and Natural Gas Commission Scheme on Incentives for Learning Regional Languages" are hereby repealed.
10.2 Nothing in this scheme or any repeal affected thereby shall affect or be deemed to affect any thing done or action taken under the said scheme before commencement of this scheme.
2(B). SCHEME FOR GRANT OF INCENTIVES FOR ADOPTING SMALL FAMILY NORMS
INCENTIVES
The following incentives are provided to the employees for adopting small family norms subject to the condition
(a).CASH INCENTIVE
A lump sum cash incentive of Rs.300/- may be granted to employees where the employee himself or his spouse undergoes sterilization operation. This cash incentive is payable irrespective of the fact whether such employees are entitled to draw any cash or other type of incentive from any other source for undergoing sterilization operation.
(b) SPECIAL INCREMENTS
Employees who undergo sterilization after having one surviving child and not more than two or three surviving children may be granted a special increment in the form of personal pay.
i. The personal pay would be equal to the amount of next increment due at the time of grant of the incentive and will remain fixed during the entire service except as stipulated in Rule 4.3(v) However, where the employee is drawing the pay at the maximum of the pay scale the rate of personal pay would be equal to the amount of increment last drawn.
ii. The personal pay is granted from the 1st of the month following the date of sterilization.
iii. The personal pay can be drawn at their choice by either the husband or the wife where both of them are in the employment of , so that they can avail the higher rate of increment available to them.
iv. The personal pay shall be admissible at the same rate even if the employee is held up at efficiency bar, or he is reduced to a lower grade/post by way of penalty.
v. The rate of personal pay upon Revision of pay scales:
(a) Employees who have adopted small family norms prior to pay revision will be entitled to draw the personal pay equivalent to the increment fixed at the rate of increment in the revised scales of pay of the post held as on 1.1.1997. However employees who were actually drawing the personal pay at a rate higher than the lowest rate of increment in the Revised scales may continue to draw at the old rates.
(b)Employees who have adopted small family norms on or after the date of Revision of pay scales wef 1.1.1997 will be entitled to personal pay of the rate admissible in the actual revised basic pay of an amount equal to the amount of next increment due at the time of grant of the concession.
The Incentive increments on revised rates due to pay revision w.e.f. 1.1.97 are admissible to the employees who do not get any issue during the first four years of marriage as per the terms and conditions as laid down in the O.O.No.11(3)/2000-Welfare dt. 7.8.00. (ClarificationNo. 11(3)/2000-Welfare date 26.2.2001).
vi) The rate of personal pay consequent upon preponment of promotion/deemed promotion with retrospective effect: sterilization operation.
The FHLMC was created in 1970 to expand the secondary market for mortgages in the US. Along with other GSEs, Freddie Mac buys mortgages on the secondary market, pools them, and sells them as a mortgage-backed security to investors on the open market. This secondary mortgage market increases the supply of money available for mortgage lending and increases the money available for new home purchases. The name, "Freddie Mac", is an acronym of the company's full name that had been adopted officially for ease of identification (see "GSEs" below for other examples).
On September 7, 2008, Federal Housing Finance Agency (FHFA) director James B. Lockhart III announced he had put Fannie Mae and Freddie Mac under the conservatorship of the FHFA (see Federal takeover of Fannie Mae and Freddie Mac). The action has been described as "one of the most sweeping government interventions in private financial markets in decades".[5][6][7]
Moody's gave Freddie Mac's preferred stock an investment grade rating of A1 until August 22, 2008 when Warren Buffett said publicly that both Freddie Mac and Fannie Mae had tried to attract him and others. Moody's changed the credit rating on that day to Baa3, the lowest investment grade credit rating. Freddie's senior debt credit rating remains Aaa/AAA from each of the major ratings agencies Moody's, S&P, and Fitch.[8]
As of the start of the conservatorship, the United States Department of the Treasury had contracted to acquire US$1 billion in Freddie Mac senior preferred stock, paying at a rate of 10 percent a year, and the total investment may subsequently rise to as much as US$100 billion.[9]
Home loan interest rates may go down as a result and owners of Freddie Mac debt and the Asian central banks who had increased their holdings in these bonds may be protected. Shares of Freddie Mac stock, however, plummeted to about one U.S. dollar on September 8, 2008 and dropped a further 50% on June 16, 2010 when the Federal Housing Finance Agency ordered the stocks delisted.[10] In 2008, the yield on U.S Treasury securities rose in anticipation of increased U.S. federal debt
Training Administration
Having planned the training program properly, you must now administer the training to the selected
employees. It is important to follow through to make sure the goals are being met. Questions to
consider before training begins include
!
!
!
!
!
!
Careful attention to these operational details will contribute to the success of the training program.
An effective training program administrator should follow these steps:
!
!
!
!
!
!
!
!
Following these steps will help an administrator develop an effective training program to ensure that
the firm keeps qualified employees who are productive, happy workers. This will contribute
positively to the bottom line.
Evaluation of Training
Training should be evaluated several times during the process. Determine these milestones when
you develop the training. Employees should be evaluated by comparing their newly acquired skills
Location.
Facilities.
Accessibility.
Comfort.
Equipment.
Timing.
Define the organizational objectives.
Determine the needs of the training program.
Define training goals.
Develop training methods.
Decide whom to train.
Decide who should do the training.
Administer the training.
Evaluate the training program.
with the skills defined by the goals of the training program. Any discrepancies should be noted and
adjustments made to the training program to enable it to meet specified goals. Many training
programs fall short of their expectations simply because the administrator failed to evaluate its
progress until it was too late. Timely evaluation will prevent the training from straying from its
goals.
I) The Scheme is applicable only to those who acquire qualification after 01.11.1988 while in service.
ii) The employee should have completed at least one year of service in the Corporation.
iii) The employee should have appeared in the examination for acquiring the qualification after appointment and during service in the Corporation and not prior to initial appointment in the .
iv) The qualification which will be taken into consideration for grant of incentive, under the scheme, will be those which are relevant in the respective discipline in which the employee is working. For this purpose, qualifications as prescribed under R&P Regulations will be taken into consideration. For example, Q-1 qualifications will be the same as prescribed for the various E-1 induction level posts under these regulations as amended from time to time and Q2 qualifications will be the qualifications as prescribed in the regulations ibid for direct recruitment to the top of Class-III posts in various disciplines. However, if an employee attains the qualifications of a discipline other than the discipline in which he/she is working, he/she will not be entitled to payment in incentive, under the scheme.
v) MBA which is a Q-1 qualification for P&A discipline is considered Q-1 qualification for other disciplines as well for grant of incentive under this scheme to non-executives.
2(A). SCHEME FOR GRANT OF INCENTIVES FOR ADOPTING SMALL FAMILY NORMS
PREAMBLE
(a) To motivate the employees to adopt small family norms in keeping with the national objectives.
(b) To encourage employees to have an "Ideal family" with a view to improving quality of life.
(c) To promote small family norms on voluntary basis.
1. SHORT TITLE AND COMMENCEMENT
This scheme may be called as Oil and Natural Gas Corporation Limited Scheme for grant of Incentives for adopting small family norms.
2. APPLICABILITY
This scheme shall be applicable to all employees in Regular Scales of pay in the Company.
3. LANGUAGES
The Regional Languages like MARATHI, GUJARATI, TAMIL, TELUGU, BANGLA, PUNJABI, ASSAMESE etc.
4. TEACHING COURSES
Each language will consist of the following teaching courses:
5. ELIGIBILITY :
For Prabodh of the respective Regional Language employees of the categories of drivers, technicians etc. in Class-III provided the mother tongue is not the respective regional language.
For Praveen of the respective Regional Language, all employees in Class-III categories excluding Class-IV, provided their mother tongue is not the respective regional language.
6. INTERPRRETATION
In case of any doubt regarding interpretation of any of the provisions of this scheme, the matter shall be referred to the Director (HR), who shall decide the same in consultation with Finance.
7. POWER TO RELAX
The power to relax any of the provisions under this scheme shall vest in the Head of the Region/Institute, (now Asset/ Basin Services/ RO) who shall exercise such powers in consultation with the associated Finance. At Headquarters, these powers shall be exercised by the Head of the Business Group in consultation with the associated Finance.
8. POWER TO AMEND
The Company may from time to time amend, modify or add to this scheme and all such amendments, modifications or additions shall take effect from the date stated therein.
9. REPEAL AND SAVING
10.1 The Existing instructions on "Oil and Natural Gas Commission Scheme on Incentives for Learning Regional Languages" are hereby repealed.
10.2 Nothing in this scheme or any repeal affected thereby shall affect or be deemed to affect any thing done or action taken under the said scheme before commencement of this scheme.
2(B). SCHEME FOR GRANT OF INCENTIVES FOR ADOPTING SMALL FAMILY NORMS
INCENTIVES
The following incentives are provided to the employees for adopting small family norms subject to the condition
(a).CASH INCENTIVE
A lump sum cash incentive of Rs.300/- may be granted to employees where the employee himself or his spouse undergoes sterilization operation. This cash incentive is payable irrespective of the fact whether such employees are entitled to draw any cash or other type of incentive from any other source for undergoing sterilization operation.
(b) SPECIAL INCREMENTS
Employees who undergo sterilization after having one surviving child and not more than two or three surviving children may be granted a special increment in the form of personal pay.
i. The personal pay would be equal to the amount of next increment due at the time of grant of the incentive and will remain fixed during the entire service except as stipulated in Rule 4.3(v) However, where the employee is drawing the pay at the maximum of the pay scale the rate of personal pay would be equal to the amount of increment last drawn.
ii. The personal pay is granted from the 1st of the month following the date of sterilization.
iii. The personal pay can be drawn at their choice by either the husband or the wife where both of them are in the employment of , so that they can avail the higher rate of increment available to them.
iv. The personal pay shall be admissible at the same rate even if the employee is held up at efficiency bar, or he is reduced to a lower grade/post by way of penalty.
v. The rate of personal pay upon Revision of pay scales:
(a) Employees who have adopted small family norms prior to pay revision will be entitled to draw the personal pay equivalent to the increment fixed at the rate of increment in the revised scales of pay of the post held as on 1.1.1997. However employees who were actually drawing the personal pay at a rate higher than the lowest rate of increment in the Revised scales may continue to draw at the old rates.
(b)Employees who have adopted small family norms on or after the date of Revision of pay scales wef 1.1.1997 will be entitled to personal pay of the rate admissible in the actual revised basic pay of an amount equal to the amount of next increment due at the time of grant of the concession.
The Incentive increments on revised rates due to pay revision w.e.f. 1.1.97 are admissible to the employees who do not get any issue during the first four years of marriage as per the terms and conditions as laid down in the O.O.No.11(3)/2000-Welfare dt. 7.8.00. (ClarificationNo. 11(3)/2000-Welfare date 26.2.2001).
vi) The rate of personal pay consequent upon preponment of promotion/deemed promotion with retrospective effect: sterilization operation.