Supervision of financial institutions

2015 ◽  
Vol 23 (4) ◽  
pp. 383-402 ◽  
Author(s):  
Georgios L Vousinas
Keyword(s):  
Regulatory Framework ◽  
Basel Iii ◽  
Real Economy ◽  
Content Type ◽  
Bank Supervision ◽  
Business Plans ◽  
Financial Innovations ◽  
Pros And Cons ◽  
Catch Up ◽  
The Right

Purpose – This paper aims to highlight the new regulatory framework established by Basel III. Design/methodology/approach – This paper provides a critical review of the existing literature concerning bank supervision while providing an overview of the transition from Basel I to Basel III rules and critical appraisal of the current regulatory framework. Review of the existing literature. Findings – Basel III introduces new measures in favor of bank stability and in order to mitigate the propagation of financial shocks. But on the other hand the new regulatory framework adds an extra burden to banks’ business plans affecting credit policies and thus the real economy. Another issue that is not properly addressed is the rising of financial innovations that are able to pass by the new regulations. Overall Basel III rules are moving to the right direction but need to stay always up-to-date in order to catch up with the modern ever-evolving financial system. Pros and cons. Need for improvement. Originality/value – The paper presents an up-to-date review of Basel rules with future prospects.

scholarly journals A proposal designed for calibrating the liquidity coverage ratio for Islamic banks

2019 ◽  
Vol 11 (1) ◽  
pp. 82-97 ◽  
Author(s):  
Muhammed Habib Dolgun ◽  
Abbas Mirakhor ◽  
Adam Ng
Keyword(s):  
Risk Sharing ◽  
Regulatory Framework ◽  
Market Liquidity ◽  
Policy Implications ◽  
Adjustment Process ◽  
Islamic Banks ◽  
Real Economy ◽  
Content Type ◽  
Coverage Ratio ◽  
Symmetric Information

Purpose This paper aims to critically investigate the liquidity risk management of Islamic banks and develop an alternative regulatory framework appropriate for liquidity management of these banks. Design/methodology/approach The specific risk profile of an Islamic bank requires developing a new and more efficient regulatory framework, which relies on risk- sharing and symmetric information among parties. The paper makes a differentiation between small local banks and internationally active Islamic banks and proposes to apply liquidity requirements only for internationally active Islamic banks. Findings A new proposal for the liquidity coverage ratio (LCR) of Islamic banks is developed in this paper towards mitigating risks and concurrently protecting the interests of investment account holders. Minimum and maximum thresholds are proposed for each liquid asset in this new LCR framework. An alternative liquidity approach is discussed to complement the proposal and several policy options are suggested. Originality/value As participation banks are exposed to market liquidity and market risks, more high-quality liquid instruments within a risk-sharing regulatory framework may provide the inner adjustment process through which any mismatch regarding maturity, risk, value or linkage with the real economy is corrected systematically. It offers policy implications for regulators, supervisors and international organizations.

Insider versus outsider – who is better? The case of Zyne furnishings

2021 ◽  
Vol 11 (4) ◽  
pp. 1-19
Author(s):  
Gopal Venkata Vajjhala ◽  
K.S. Venu Gopal Rao
Keyword(s):  
Objective Assessment ◽  
Evaluation Process ◽  
Leadership Role ◽  
Sales Manager ◽  
Western Region ◽  
Content Type ◽  
High Point ◽  
Academic Level ◽  
Pros And Cons ◽  
The Right

Case overview/synopsis Zyne is a mid-sized Delhi-based firm engaged in the home linen business under the company’s brand name. Raman was the Managing Director of Zyne. In 2019, Prashanth the head of the second-best region (West) quit abruptly without grooming a successor. Prashanth’s team consisted of greenhorn executives whom he recruited from colleges. Raman has options of selecting a replacement for Prashanth from within the organization. Two candidates are in the reckoning, namely, Amit and Neha. Amit was 48 years old, a veteran in the business and associated with the Zyne group for over 15 years. He was a top sales performer in the Central region and was interested in relocating to the West. Twenty-seven-year-old Neha was industrious, talented and creative. Within three years of joining Zyne, she had proven herself as a go-getter with remarkable ability to develop strong channel partner relations. Raman had to decide whom to select from among the two or go for an outsider from the industry. Raman has to contend with selection issues related to insider vs an outsider. If one of the internal candidates is chosen how could he motivate the other to continue to perform and deliver? The case focuses on the challenges of recruitment of a Sales Manager (SM) in a small home furnishing business. Use of competency framing to validate the candidates is the high point of the case Learning objectives By the end of case discussion participants should be able to understand the following: differentiate skills required in a sales leadership role as compared to that of a sales executive; evaluate the pros and cons of internal promotions versus hiring an outsider; apply the concept of competency framework to evaluate different candidates vying for the same position; and understand how a candidate not selected for the position understands the reasons thereof to enable improvements. Complexity academic level Started in 2010, Zyne Furnishings headquartered at Delhi, was in the business of selling home furnishings. Raman, a second-generation entrepreneur was Zyne’s Managing Partner. With help from his father Rajesh Gupta, Raman worked toward expanding Zyne’s business operations in India. Raman was facing a challenge because of the abrupt resignation of Prashanth, the Western Region SM. Prashant had done well in the region and assiduously built Zyne brand’s presence there. As Raman pondered over the ways of filling up the SM position, questions confronted him for which he did not have immediate answers. He had 30 days in which a replacement must be finalized. Raman looked at the file containing the applications of the two internal candidates, namely, Amit (Southern region) and Neha (Western region) who had applied for the position. What evaluation process should he adopt to ensure an objective assessment is done before deciding on which of the two candidates fit the bill? Given that it was the first week of January 2020 and the year-end targets had to be met by March, Raman knew time was running out. He had to take a quick call. Use of competency mapping to evaluate candidates is a high point of the case. This case can be used to enhance the participants understanding of the challenges of identifying the right candidate for a senior position and weigh the pros and cons associated with the selection. Motivating the rejected internal candidate through the procedural justice system adds value to the case. Supplementary materials Teaching notes are available for educators only. Subject code CSS 8: Marketing.

A review on the evolvement trend of robotic interaction control

2016 ◽  
Vol 43 (5) ◽  
pp. 535-551 ◽  
Author(s):  
Ali Leylavi Shoushtari ◽  
Paolo Dario ◽  
Stefano Mazzoleni
Keyword(s):  
Hierarchical Classification ◽  
Control Algorithms ◽  
Content Type ◽  
Control Approach ◽  
Interaction Control ◽  
Pros And Cons ◽  
General Aspects ◽  
The Right ◽  
Theoretical Issues

Purpose Interaction plays a significant role in robotics and it is considered in all levels of hardware and software control design. Several models have been introduced and developed for controlling robotic interaction. This study aims to address and analyze the state-of-the-art on robotic interaction control by which it is revealed that both practical and theoretical issues have to be faced when designing a controller. Design/methodology/approach In this review, a critical analysis of the control algorithms developed for robotic interaction tasks is presented. A hierarchical classification of distributed control levels from general aspects to specific control algorithms is also illustrated. Hence, two main control paradigms are discussed together with control approaches and architectures. The challenges of each control approach are discussed and the relevant solutions are presented. Findings This review presents an evolvement trend of interaction control theories and technologies over time. In addition, it highlights the pros and cons of each control approaches with addressing how the flaws of one control approach were compensated by emerging another control methods. Originality/value This review provides the robotic controller designers to select the right architecture and accordingly design the appropriate control algorithm for any given interactive task and with respect to the technology implemented in robotic manipulator.

Japan’s financial regulatory responses to the global financial crisis

2015 ◽  
Vol 7 (1) ◽  
pp. 51-67 ◽  
Author(s):  
Kimie Harada ◽  
Takeo Hoshi ◽  
Masami Imai ◽  
Satoshi Koibuchi ◽  
Ayako Yasuda
Keyword(s):  
Financial Crisis ◽  
Financial Stability ◽  
Global Financial Crisis ◽  
Basel Iii ◽  
Stress Tests ◽  
Content Type ◽  
Bank Supervision ◽  
Otc Derivatives ◽  
The Global Financial Crisis ◽  
Financial Regulatory

Purpose – This paper aims to understand Japan’s financial regulatory responses after the global financial crisis and recession. Japan’s post-crisis reactions show two seemingly opposing trends: collaboration with international organizations to strengthen the regulation to maintain financial stability, and regulatory forbearance for the banks with troubled small and medium enterprise [SME] borrowers. The paper evaluates the responses by the Japanese financial regulators in five areas (Basel III, stress tests, over-the-counter [OTC] derivatives regulation, recovery and resolution planning and banking policy for SME lending) and concludes that the effectiveness of the new regulations for financial stability critically depends on the willingness of the regulators to use the new tools. Design/methodology/approach – This report evaluates the post-crisis responses by the Japanese financial authorities in five dimensions (Basel III, stress tests, OTC derivatives regulations, recovery and resolution planning and bank supervision). Findings – The effectiveness of the new regulations for financial stability critically depends on the willingness of the regulators to use the new tools. Originality/value – The paper is the first attempt to evaluate the financial regulatory trends in Japan after the global financial crisis.

Islamic hedging for pilgrimage funds: case of Indonesia

2019 ◽  
Vol 11 (3) ◽  
pp. 328-341
Author(s):  
Rifki Ismal ◽  
Nurul Izzati Septiana
Keyword(s):  
Exchange Rate ◽  
The Other ◽  
Exchange Rate Risk ◽  
Content Type ◽  
Other Hand ◽  
Rate Risk ◽  
Risk Identify ◽  
Hajj Season ◽  
The Right ◽  
Very High

Purpose The demand for Saudi Arabian real (SAR) is very high in the pilgrimage (hajj) season while the authority, unfortunately, does not hedge the hajj funds. As such, the hajj funds are potentially exposed to exchange rate risk, which can impact the value of hajj funds and generate extra cost to the pilgrims. The purpose of this paper is to conduct simulations of Islamic hedging for pilgrimage funds to: mitigate and minimize exchange rate risk, identify and recommend the ideal time, amount and tenors of Islamic hedging for hajj funds, estimate cost saving by pursuing Islamic hedging and propose technical and general recommendations for the authority. Design/methodology/approach Forward transaction mechanism is adopted to compute Islamic forward between SAR and Rupiah (Indonesian currency) or IDR. Findings – based on simulations, the paper finds that: the longer the Islamic hedging tenors, the better is the result of Islamic hedging, the decreasing of IDR/USD is the right time to hedge the hajj funds and, on the other hand, the IDR/SAR appreciation is not the right time to hedge the hajj funds. Findings Based on simulations, the paper finds that: the longer the Islamic hedging tenors, the better is the result of Islamic hedging, the decreasing of IDR/USD is the right time to hedge the hajj funds and, on the other hand, the IDR/SAR appreciation is not the right time to hedge the hajj funds. Research limitations/implications The research suggests the authority to (and not to) hedge the hajj fund, depending on economic conditions and market indicators. Even though the assessment is for the Indonesian case, other countries maintaining hajj funds might also learn from this paper. Originality/value To the best of author’s knowledge, this is the first paper in Indonesia that attempts to simulate the optimal hedging of hajj funds.

Collaborative design in public services: a wicked problem-reframing case

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Patrícia Moura e Sá ◽  
Catarina Frade ◽  
Fernanda Jesus ◽  
Mónica Lopes ◽  
Teresa Maneca Lima ◽  
...  
Keyword(s):  
Collaborative Design ◽  
Success Factors ◽  
Central Government ◽  
Wicked Problem ◽  
Low Density ◽  
Structured Interviews ◽  
Content Type ◽  
Critical Success ◽  
Definition Of ◽  
The Right

PurposeWicked problems require collaborative innovation approaches. Understanding the problem from the users' perspective is essential. Based on a complex and ill-defined case, the purpose of the current paper is to identify some critical success factors in defining the “right problem” to be addressed.Design/methodology/approachAn empirical research study was carried out in a low-density municipality (case study). Extensive data were collected from official databases, individual semi-structured interviews and a focus group involving citizens, local authorities, civil servants and other relevant stakeholders.FindingsAs defined by the central government, the problem to be addressed by the research team was to identify which justice services should be made available locally to a small- and low-density community. The problem was initially formulated using top-down reasoning. In-depth contact with citizens and key local players revealed that the lack of justice services was not “the issue” for that community. Mobility constraints and the shortage of economic opportunities had a considerable impact on the lack of demand for justice services. By using a bottom-up perspective, it was possible to reframe the problem to be addressed and suggest a new concept to be tested at later stages.Social implicationsThe approach followed called attention to the importance of listening to citizens and local organisations with a profound knowledge of the territory to effectively identify and circumscribe a local problem in the justice field.Originality/valueThe paper highlights the limitations of traditional rational problem-solving approaches and contributes to expanding the voice-of-the-customer principle showing how it can lead to a substantially new definition of the problem to be addressed.

Malignant astrocytoma following radiotherapy of a craniopharyngioma

1978 ◽  
Vol 48 (4) ◽  
pp. 622-627 ◽  
Author(s):  
Richard L. Sogg ◽  
Sarah S. Donaldson ◽  
Craig H. Yorke
Keyword(s):  
Experimental Evidence ◽  
Temporal Lobe ◽  
Malignant Astrocytoma ◽  
Content Type ◽  
Suprasellar Region ◽  
The Right ◽  
Fine Print

✓ A 9-year-old schoolgirl received 6007 rads to the suprasellar region for craniopharyngioma. Five years later, a malignant astrocytoma developed in the right temporal lobe. We cite clinical and experimental evidence to support our suspicion that the glioma may have been induced by radiation.

A new rat model of chronic cerebral hypoperfusion associated with arteriovenous malformations

2002 ◽  
Vol 97 (5) ◽  
pp. 1198-1202 ◽  
Author(s):  
Jian Hai ◽  
Meixiu Ding ◽  
Zhilin Guo ◽  
Bingyu Wang
Keyword(s):  
Electron Microscopy ◽  
Animal Model ◽  
Arteriovenous Malformations ◽  
Perfusion Pressure ◽  
Chronic Cerebral Hypoperfusion ◽  
Cerebral Hypoperfusion ◽  
Model Group ◽  
Content Type ◽  
The Right ◽  
Fine Print

Object. A new experimental model of chronic cerebral hypoperfusion was developed to study the effects of systemic arterial shunting and obstruction of the primary vessel that drains intracranial venous blood on cerebral perfusion pressure (CPP), as well as cerebral pathological changes during restoration of normal perfusion pressure. Methods. Twenty-four Sprague—Dawley rats were randomly assigned to either a sham-operated group, an arteriovenous fistula (AVF) group, or a model group (eight rats each). The animal model was readied by creating a fistula through an end-to-side anastomosis between the right distal external jugular vein (EJV) and the ispilateral common carotid artery (CCA), followed by ligation of the left vein draining the transverse sinus and bilateral external carotid arteries. Systemic mean arterial pressure (MAP), draining vein pressure (DVP), and CPP were monitored and compared among the three groups preoperatively, immediately postoperatively, and again 90 days later. Following occlusion of the fistula after a 90-day interval, blood—brain barrier (BBB) disruption and water content in the right cortical tissues of the middle cerebral artery territory were confirmed and also quantified with transmission electron microscopy. Formation of a fistula resulted in significant decreases in MAP and CPP, and a significant increase in DVP in the AVF and model groups. Ninety days later, there were still significant increases in DVP and decreases in CPP in the model group compared with the other groups (p < 0.05). Damage to the BBB and brain edema were noted in animals in the model group during restoration of normal perfusion pressure by occlusion of the fistula. Electron microscopy studies revealed cerebral vasogenic edema and/or hemorrhage in various amounts, which correlated with absent astrocytic foot processes surrounding some cerebral capillaries. Conclusions. The results demonstrated that an end-to-side anastomosis between the distal EJV and CCA can induce a decrease in CPP, whereas a further chronic state of cerebral hypoperfusion may be caused by venous outflow restriction, which is associated with perfusion pressure breakthrough. This animal model conforms to the basic hemodynamic characteristics of human cerebral arteriovenous malformations.

Regional brain tissue pressure gradients created by expanding extradural temporal mass lesion

1997 ◽  
Vol 86 (3) ◽  
pp. 505-510 ◽  
Author(s):  
Christopher E. Wolfla ◽  
Thomas G. Luerssen ◽  
Robin M. Bowman
Keyword(s):  
Intracranial Pressure ◽  
Frontal Lobe ◽  
Brain Tissue ◽  
Temporal Lobe ◽  
Mass Lesion ◽  
Pressure Monitor ◽  
Tissue Pressure ◽  
Content Type ◽  
Regional Brain ◽  
The Right

✓ A porcine model of regional intracranial pressure was used to compare regional brain tissue pressure (RBTP) changes during expansion of an extradural temporal mass lesion. Measurements of RBTP were obtained by placing fiberoptic intraparenchymal pressure monitors in the right and left frontal lobes (RF and LF), right and left temporal lobes (RT and LT), midbrain (MB), and cerebellum (CB). During expansion of the right temporal mass, significant RBTP gradients developed in a reproducible pattern: RT > LF = LT > RF > MB > CB. These gradients appeared early, widened as the volume of the mass increased, and persisted for the entire duration of the experiment. The study indicates that RBTP gradients develop in the presence of an extradural temporal mass lesion. The highest RBTP was recorded in the ipsilateral temporal lobe, whereas the next highest was recorded in the contralateral frontal lobe. The RBTP that was measured in either frontal lobe underestimated the temporal RBTP. These results indicated that if a frontal intraparenchymal pressure monitor is used in a patient with temporal lobe pathology, the monitor should be placed on the contralateral side and a lower threshold for therapy of increased intracranial pressure should be adopted. Furthermore, this study provides further evidence that reliance on a single frontal intraparenchymal pressure monitor may not detect all areas of elevated RBTP.

Cerebrovascular characterization of clazosentan, the first nonpeptide endothelin receptor antagonist clinically effective for the treatment of cerebral vasospasm. Part I: Inhibitory effect on endothelinA receptor—mediated contraction

2005 ◽  
Vol 102 (6) ◽  
pp. 1101-1107 ◽  
Author(s):  
Hartmut Vatter ◽  
Michael Zimmermann ◽  
Veronika Tesanovic ◽  
Andreas Raabe ◽  
Lothar Schilling ◽  
...  
Keyword(s):  
Receptor Antagonist ◽  
Cerebral Vasospasm ◽  
Isometric Force ◽  
Inhibitory Effect ◽  
Affinity Constant ◽  
Dependent Manner ◽  
Content Type ◽  
The Right ◽  
Fine Print

Object. The central role of endothelin (ET)—1 in the development of cerebral vasospasm after subarachnoid hemorrhage is indicated by the successful treatment of this vasospasm in several animal models by using selective ETA receptor antagonists. Clazosentan is a selective ETA receptor antagonist that provides for the first time clinical proof that ET-1 is involved in the pathogenesis of cerebral vasospasm. The aim of the present investigation was, therefore, to define the pharmacological properties of clazosentan that affect ETA receptor—mediated contraction in the cerebrovasculature. Methods. Isometric force measurements were performed in rat basilar artery (BA) ring segments with (E+) and without (E−) endothelial function. Concentration effect curves (CECs) were constructed by cumulative application of ET-1 or big ET-1 in the absence or presence of clazosentan (10−9, 10−8, and 10−7 M). The inhibitory potency of clazosentan was determined by the value of the affinity constant (pA2). The CECs for contraction induced by ET-1 and big ET-1 were shifted to the right in the presence of clazosentan in a parallel dose-dependent manner, which indicates competitive antagonism. The pA2 values for ET-1 were 7.8 (E+) and 8.6 (E−) and the corresponding values for big ET-1 were 8.6 (E+) and 8.3 (E−). Conclusions. The present data characterize clazosentan as a potent competitive antagonist of ETA receptor—mediated constriction of the cerebrovasculature by ET-1 and its precursor big ET-1. These functional data may also be used to define an in vitro profile of an ET receptor antagonist with a high probability of clinical efficacy.

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