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Re "Don't Bargain With Rail Safety" (editorial, April 30), about the debate in Congress over the implementation deadline for Positive Train Control (P.T.C).
Deputy Secretary Ron Sims said Thursday: "They're going to have to show that they're going to meet the implementation deadline and the analysis.
He is reminding everyone that the implementation deadline is a 1 January 2011 which he admits is "challenging" but one that was demanded politically by the members of CEBS.
"It will be much more instructive to look at performance against those standards after the implementation deadline and once servicers have had the opportunity to complete the massive amount of change management that the new standards require," said David Stevens, chief executive of the Mortgage Bankers Association.
The cut-off date, 14 September 2009, was the implementation deadline for the NPSA alert.
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There seems to be but one forthright voice on the Commission -- Mr. Bart Chilton, who earlier this month, stated that the CFTC is "facing pressure from inside and outside the agency" to find a way around the implementation deadlines.
The next implementation deadline is scheduled for the end of this month, by which time the Trump administration should have provided a list of foreign entities that have continued to do business with Russian individuals or entities in the Russian defense or intelligence sectors that have had sanctions imposed on them under the bill.
President Trump threw oil markets for a loop when his administration announced exemptions for eight countries to continue importing limited amounts of Iranian oil for 180 days beyond the sanctions implementation deadline of November 5. Oil prices dropped markedly once it became clear that at least 1 million barrels per day more Iranian oil would remain on the market than had been expected.
But significant obstacles make meeting the 2015 implementation deadline impossible.
After the sanctions' June implementation deadline, the U.S. Treasury Department could move to close off access to the U.S. financial system to any Indian banks that continue to facilitate trade with Iran.
Tom Selby, senior analyst at pension adviser AJ Bell, said: "On a practical level, the proposed 2019 implementation deadline might be a stretch.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com