scholarly journals Effective Practices of Macroprudential Stress Testing as a Tool of Increasing the Stability of Russian Financial System in the Context of Macroeconomic Shocks

2022 ◽  
pp. 95-110
Author(s):  
D. Yu. Desyatnichenko ◽  
O. V. Ryabov ◽  
O. Yu. Desyatnichenko
Keyword(s):  
Stress Testing ◽  
Open Data ◽  
Financial System ◽  
Banking Regulation ◽  
Point Of View ◽  
Practical Implementation ◽  
Macroeconomic Shocks ◽  
Crisis Conditions ◽  
The Stability ◽  
As Stress

The article examines the evolution of the prudential approach to banking regulation, examines the practical contribution of the Basel Committee on Banking Supervision to the development and implementation of internationally unified practices and procedures for stress testing and supervision. The authors share the point of view that the existing methods and practices of stress testing still need improvements and methodological improvements, since they regularly allow the practical implementation of adverse scenarios leading to financial shocks and global crises. As a significant disadvantage of many actively used stress testing models, it is noted that they are often focused on complex, highly bureaucratic procedures for the preparation and analysis of financial statements, the main purpose of which is to assess the probabilities and sizes of losses and identify scenarios for the development of the situation for each specific bank, and no risks for the financial system as a whole. The authors come to the conclusion that it is advisable to prioritize the use of alternative stress testing models in crisis and post-crisis conditions, the forecasts within which are based on the actual values of financial market indicators, macroeconomic variables, and other open data. Special attention is paid to the stylized CLASS model, based on simple econometric models, as well as stress testing the current market value of V-lab. Based on the results of the study, the authors come to a number of conclusions that the role of the macroeconomic component in the procedures, methods, and algorithms for macroprudential stress testing used in Russia should increase, the degree of involvement and the sphere of responsibility for its results of key institutional units of the public administration system should expand, and macroprudential stress testing itself should not be limited to supervisory stress testing in everyday practice.

scholarly journals Deposit flows and structure in Serbia

Bankarstvo ◽  
2020 ◽  
Vol 49 (4) ◽  
pp. 68-87
Author(s):  
Milena Lazić ◽  
Ksenija Zorčić
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Banking System ◽  
Financial System ◽  
Banking Regulation ◽  
The Stability ◽  
The Global Financial Crisis ◽  
Deposit Guarantee Schemes

Having drawn attention to the existing banking regulation issues, the Global Financial Crisis also raised awareness of the importance of depositors' confidence for the stability of the financial system, and brought the role and significance of the deposit guarantee schemes to the fore. Serbian economy started experiencing its effects in Q4 2008, in parallel with the global spreading of the crisis. This paper focuses on the fluctuations in deposit levels and structure in the Serbian banking system, between 2008 and 2019. It also aims to underscore the importance and development perspectives of the Serbian deposit guarantee scheme.

scholarly journals ACTIVITIES OF THE NATIONAL BANK OF UKRAINE DURING THE COVID-19 PANDEMIC OUTBREAK

2021 ◽  
Author(s):  
Natalia Danik ◽  
Kateryna Lohachova ◽  
Inna Grebenuk
Keyword(s):  
Banking Sector ◽  
Banking System ◽  
Financial System ◽  
Economic Security ◽  
Economic Downturn ◽  
Negative Consequences ◽  
National Bank ◽  
The Stability ◽  
As Stress ◽  
The Impact

The article considers the impact of the COVID-19 pandemic on the regulatory activities of the National Bank of Ukraine. The interdependence of the banking and economic systems and the impact of their inefficient interaction on banking in general and each individual commercial bank in particular are analyzed. It is established that before the onset of the pandemic crisis in the world, the banking system of Ukraine was characterized as stress-resistant, taking into account the reforms of liquidity and recapitalization. The stability of the banking system is affected by economic pressures caused by the spread of coronavirus and lower oil prices. According to one of the world’s three reputable rating agencies, Fitch Ratings, the level of pressure on banks depends on the depth and duration of the economic downturn, specific risks to the national economy and external finances (for example, tourism revenues or remittances), national government measures and individual banks. The implementation of anti-crisis measures developed by the National Bank of Ukraine as tools to increase financial and economic security in the country as a whole, and financial institutions in terms of increasing banking risks caused by the outbreak of the COVID-19 pandemic. The spread of this infection also has negative consequences for the economy and financial system of Ukraine. Therefore, the National Bank of Ukraine has introduced a system of anti-crisis measures during quarantine in the country. The NBU covers information about events in the economy through its own website, social media pages, and the media. These measures are implemented to mitigate the impact of coronavirus disease on citizens and businesses, and to ensure the quality and smooth operation of the financial system. The banking system continues to operate, without imposing any restrictions on the operation of banks and their operations. As a result of the study, a system of measures of national support for the banking sector by the National Bank of Ukraine and the International Monetary Fund was proposed through the prism of a number of guidelines and regulatory points, which are supporting instruments rather than control and regulatory ones.

scholarly journals FINANCIAL INSTABILITY HYPOTHESIS (FIH) OF MINSKY: CONTEXTUALIZING THE ROLES OF ISLAMIC COMMERCIAL AND SOCIAL FINANCE

2017 ◽  
Vol 2 (2) ◽  
pp. 145-172
Author(s):  
Ugi Suharto
Keyword(s):  
Financial Stability ◽  
Descriptive Analysis ◽  
Financial System ◽  
Point Of View ◽  
Theory And Practice ◽  
Islamic Finance ◽  
Social Aspect ◽  
Financial Instability ◽  
The Stability ◽  
Finance Theory

The main subject of this paper is to discuss some issues in Minsky’s Financial Instability Hypothesis (FIH) and relate them with Islamic finance position in enhancing the stability of financial system. The methodology used in the paper is descriptive analysis. It describes a particular concept, namely the financial instability hypothesis and then analyses, applies and compares that concept with other concept, i.e. the Islamic finance concept. It is shown in the paper that Islamic finance, both in its commercial and social aspect, can play its role in stabilizing financial system. The significant contribution of the paper is by bringing together the hypothesis of Minsky with Islamic finance theory and practice. It should be stated here, however, that among the limitations of the paper is that the reference on Minsky’s point of view is mostly based on his brief article entitled “The Financial Instability Hypothesis” without referring to his vast writings on various topics directly or indirectly related to his notion of Financial Instability Hypothesis. Keywords:  Financial stability, Islamic finance, Financial crisis, Deregulation, Riba, GhararJEL Classification: A12, E44, E58, G18, G21

scholarly journals Regionalist Movements in Contemporary Switzerland: Ticino and Bernese Jura Cases

2021 ◽  
Vol 103 (3) ◽  
pp. 50-60
Author(s):  
Vsevolod Bederson ◽  
◽  
Irina Shevtsova ◽  
Keyword(s):  
Political Parties ◽  
Open Data ◽  
Point Of View ◽  
The Political ◽  
Right Wing ◽  
Linguistic Minorities ◽  
Political Space ◽  
German Speaking ◽  
Research Interviews ◽  
The Stability

The article looks into characteristics of regionalist movements in contemporary Switzerland. The authors try to answer the question why, despite the stability of federal relations in Switzerland and the existence of institutions representing the interests of the regions, there are regionalist movements in the canton of Ticino and the Bernese Jura, and why only in these two regions? The study is based on open data on the political and socio-economic characteristics of the regions, as well as on materials of research interviews with representatives of movements and experts. The study analyzes the cases of the regionalist movements of the League of Ticino and the Groupe Bélier in the Bernese Jura. The results point to the similarities of the movements: linguistic minorities surrounded by a German-speaking majority, accumulation of similar contradictions over the years. The regionalism of the League of Ticino stands out in the context of other parties; the League has made the regionalist agenda a platform for promoting right-wing demands without being marginalized in the political space. The Groupe Bélier, from the point of view of regionalist demands, is distinguished by a weak visibility of its agenda in political parties’ programmes.

scholarly journals Aktualne zagrożenia stabilności systemu finansowego w Polsce

2015 ◽  
Vol 4 (3) ◽  
pp. 43-60
Author(s):  
Marian Żukowski ◽  
Helena Żukowska
Keyword(s):  
Banking Sector ◽  
Financial System ◽  
Credit Unions ◽  
Active Role ◽  
Point Of View ◽  
The Public ◽  
Systemic Risks ◽  
The Stability ◽  
Investment Firm

The stability of financial system is a major component of the economic securityof a state. An active role of state has a significant impact on ensuring the stabilityof financial system. The most important component of ensuring stability ofa financial system is to maintain stability of the banking sector. Stability of financialsystem is necessary for both the economy as a whole, individual sectors andall stakeholders, including individuals as it is a public good. Although the Polishfinancial system is now stable, three recent incidents need detailed examination:operations and the collapse of investment firm Amber Gold, instability on themortgage loans (denominated in Swiss Franc) market and the restructuring ofthe cooperative credit unions. From the financial point of view, the importance ofthese phenomena is marginal but from the public interest point of view it is vital.Therefore, there is a need to study "hybrid" dangers present in the framework ofthe financial system in Poland and to establish the Council on Systemic Risks aswell as to introduce new regulations to ensure safety of deposits. It is also necessaryto educate public about functioning of the financial market.

Influence of internal and external risks on sustainability of financial system of Аltai krai

2018 ◽  
Vol 35 (4) ◽  
pp. 133-136
Author(s):  
R. N. Ibragimov
Keyword(s):  
Sustainable Development ◽  
Financial Stability ◽  
Management Strategy ◽  
Financial System ◽  
Risk Management Strategy ◽  
The Sustainable Development ◽  
The Stability ◽  
The Impact

The article examines the impact of internal and external risks on the stability of the financial system of the Altai Territory. Classification of internal and external risks of decline, affecting the sustainable development of the financial system, is presented. A risk management strategy is proposed that will allow monitoring of risks, thereby these measures will help reduce the loss of financial stability and ensure the long-term development of the economy of the region.

scholarly journals Multifunctional Cantilevers as Working Elements in Solid-State Cooling Devices

Actuators ◽  
2021 ◽  
Vol 10 (3) ◽  
pp. 58
Author(s):  
Andraž Bradeško ◽  
Lovro Fulanović ◽  
Marko Vrabelj ◽  
Aleksander Matavž ◽  
Mojca Otoničar ◽  
...  
Keyword(s):  
Heat Transfer ◽  
Ethylene Glycol ◽  
Contact Resistance ◽  
High Efficiency ◽  
Thermal Contact ◽  
Point Of View ◽  
Practical Implementation ◽  
Cooling Devices ◽  
Cascade Structure ◽  
Lead Magnesium

Despite the challenges of practical implementation, electrocaloric (EC) cooling remains a promising technology because of its good scalability and high efficiency. Here, we investigate the feasibility of an EC cooling device that couples the EC and electromechanical (EM) responses of a highly functionally, efficient, lead magnesium niobate ceramic material. We fabricated multifunctional cantilevers from this material and characterized their electrical, EM and EC properties. Two active cantilevers were stacked in a cascade structure, forming a proof-of-concept device, which was then analyzed in detail. The cooling effect was lower than the EC effect of the material itself, mainly due to the poor solid-to-solid heat transfer. However, we show that the use of ethylene glycol in the thermal contact area can significantly reduce the contact resistance, thereby improving the heat transfer. Although this solution is most likely impractical from the design point of view, the results clearly show that in this and similar cooling devices, a non-destructive, surface-modification method, with the same effectiveness as that of ethylene glycol, will have to be developed to reduce the thermal contact resistance. We hope this study will motivate the further development of multifunctional cooling devices.

scholarly journals Suboptimal Disturbance Observer Design Using All Stabilizing Q Filter for Precise Tracking Control

Mathematics ◽  
2020 ◽  
Vol 8 (9) ◽  
pp. 1434 ◽  
Author(s):  
Wonhee Kim ◽  
Sangmin Suh
Keyword(s):  
Design Method ◽  
Industrial Applications ◽  
Point Of View ◽  
Observer Design ◽  
Linear Matrix ◽  
External Disturbances ◽  
Closed Loop Systems ◽  
Control Target ◽  
The Stability ◽  
Unified Index

For several decades, disturbance observers (DOs) have been widely utilized to enhance tracking performance by reducing external disturbances in different industrial applications. However, although a DO is a verified control structure, a conventional DO does not guarantee stability. This paper proposes a stability-guaranteed design method, while maintaining the DO structure. The proposed design method uses a linear matrix inequality (LMI)-based H∞ control because the LMI-based control guarantees the stability of closed loop systems. However, applying the DO design to the LMI framework is not trivial because there are two control targets, whereas the standard LMI stabilizes a single control target. In this study, the problem is first resolved by building a single fictitious model because the two models are serial and can be considered as a single model from the Q-filter point of view. Using the proposed design framework, all-stabilizing Q filters are calculated. In addition, for the stability and robustness of the DO, two metrics are proposed to quantify the stability and robustness and combined into a single unified index to satisfy both metrics. Based on an application example, it is verified that the proposed method is effective, with a performance improvement of 10.8%.

scholarly journals No-z Model for Magnetic Fields of Different Astrophysical Objects and Stability of the Solutions

Data ◽  
2021 ◽  
Vol 6 (1) ◽  
pp. 4
Author(s):  
Evgeny Mikhailov ◽  
Daniela Boneva ◽  
Maria Pashentseva
Keyword(s):  
Magnetic Field ◽  
Magnetic Fields ◽  
Large Scale ◽  
Point Of View ◽  
Accretion Discs ◽  
Wide Range ◽  
Astrophysical Objects ◽  
Alpha Effect ◽  
The Stability ◽  
The Magnetic Field

A wide range of astrophysical objects, such as the Sun, galaxies, stars, planets, accretion discs etc., have large-scale magnetic fields. Their generation is often based on the dynamo mechanism, which is connected with joint action of the alpha-effect and differential rotation. They compete with the turbulent diffusion. If the dynamo is intensive enough, the magnetic field grows, else it decays. The magnetic field evolution is described by Steenbeck—Krause—Raedler equations, which are quite difficult to be solved. So, for different objects, specific two-dimensional models are used. As for thin discs (this shape corresponds to galaxies and accretion discs), usually, no-z approximation is used. Some of the partial derivatives are changed by the algebraic expressions, and the solenoidality condition is taken into account as well. The field generation is restricted by the equipartition value and saturates if the field becomes comparable with it. From the point of view of mathematical physics, they can be characterized as stable points of the equations. The field can come to these values monotonously or have oscillations. It depends on the type of the stability of these points, whether it is a node or focus. Here, we study the stability of such points and give examples for astrophysical applications.

scholarly journals Photoluminescent Coordination Polymers Based on Group 12 Metals and 1H-Indazole-6-Carboxylic Acid

Inorganics ◽  
2021 ◽  
Vol 9 (3) ◽  
pp. 20
Author(s):  
Antonio A. García-Valdivia ◽  
Estitxu Echenique-Errandonea ◽  
Gloria B. Ramírez-Rodríguez ◽  
José M. Delgado-López ◽  
Belén Fernández ◽  
...  
Keyword(s):  
Carboxylic Acid ◽  
Coordination Polymers ◽  
Density Functional ◽  
Free Ligand ◽  
Emission Spectra ◽  
Point Of View ◽  
Theoretical Point ◽  
Fourier Transformed Infrared Spectroscopy ◽  
3D Network ◽  
The Stability

Two new coordination polymers (CPs) based on Zn(II) and Cd(II) and 1H-indazole-6-carboxylic acid (H2L) of general formulae [Zn(L)(H2O)]n (1) and [Cd2(HL)4]n (2) have been synthesized and fully characterized by elemental analyses, Fourier transformed infrared spectroscopy and single crystal X-ray diffraction. The results indicate that compound 1 possesses double chains in its structure whereas 2 exhibits a 3D network. The intermolecular interactions, including hydrogen bonds, C–H···π and π···π stacking interactions, stabilize both crystal structures. Photoluminescence (PL) properties have shown that compounds 1 and 2 present similar emission spectra compared to the free-ligand. The emission spectra are also studied from the theoretical point of view by means of time-dependent density-functional theory (TD-DFT) calculations to confirm that ligand-centred π-π* electronic transitions govern emission of compound 1 and 2. Finally, the PL properties are also studied in aqueous solution to explore the stability and emission capacity of the compounds.

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