Hidden “holes” in the capital of banks and the supply of credit to the real sector of economy

2018 ◽  
pp. 49-68 ◽  
Author(s):  
M. E. Mamonov
Keyword(s):  
Credit Risk ◽  
The Other ◽  
Real Sector ◽  
Capital Management ◽  
Loan Loss ◽  
Short Term ◽  
The Real ◽  
Ex Post ◽  
The One

Our analysis documents that the existence of hidden “holes” in the capital of not yet failed banks - while creating intertemporal pressure on the actual level of capital - leads to changing of maturity of loans supplied rather than to contracting of their volume. Long-term loans decrease, whereas short-term loans rise - and, what is most remarkably, by approximately the same amounts. Standardly, the higher the maturity of loans the higher the credit risk and, thus, the more loan loss reserves (LLP) banks are forced to create, increasing the pressure on capital. Banks that already hide “holes” in the capital, but have not yet faced with license withdrawal, must possess strong incentives to shorten the maturity of supplied loans. On the one hand, it raises the turnovers of LLP and facilitates the flexibility of capital management; on the other hand, it allows increasing the speed of shifting of attracted deposits to loans to related parties in domestic or foreign jurisdictions. This enlarges the potential size of ex post revealed “hole” in the capital and, therefore, allows us to assume that not every loan might be viewed as a good for the economy: excessive short-term and insufficient long-term loans can produce the source for future losses.

scholarly journals CANDIDE et la monnaie

2009 ◽  
Vol 52 (1) ◽  
pp. 75-103
Author(s):  
Jean-Pierre Aubry ◽  
Pierre Duguay
Keyword(s):  
Interest Rate ◽  
Interest Rates ◽  
Term Structure ◽  
Structural Equations ◽  
Reduced Form ◽  
Real Sector ◽  
Short Term ◽  
The Real ◽  
Structure Equations

Abstract In this paper we deal with the financial sector of CANDIDE 1.1. We are concerned with the determination of the short-term interest rate, the term structure equations, and the channels through which monetary policy influences the real sector. The short-term rate is determined by a straightforward application of Keynesian liquidity preference theory. A serious problem arises from the directly estimated reduced form equation, which implies that the demand for high powered money, but not the demand for actual deposits, is a stable function of income and interest rates. The structural equations imply the opposite. In the term structure equations, allowance is made for the smaller variance of the long-term rates, but insufficient explanation is given for their sharper upward trend. This leads to an overstatement of the significance of the U.S. long-term rate that must perform the explanatory role. Moreover a strong structural hierarchy, by which the long Canada rate wags the industrial rate, is imposed without prior testing. In CANDIDE two channels of monetary influence are recognized: the costs of capital and the availability of credit. They affect the business fixed investment and housing sectors. The potential of the personal consumption sector is not recognized, the wealth and real balance effects are bypassed, the credit availability proxy is incorrect, the interest rate used in the real sector is nominal rather than real, and the specification of the housing sector is dubious.

scholarly journals The local help network to the homeless: case study of the city of koper, Slovenia

2014 ◽  
Vol 53 (2) ◽  
pp. 199-208
Author(s):  
Blaž Matija Geršak ◽  
Klara Praprotnik ◽  
Milan Krek
Keyword(s):  
Social Acceptance ◽  
The Other ◽  
Red Cross ◽  
Short Term ◽  
Staff Members ◽  
Long Term Stability ◽  
The One ◽  
The City

Abstract Aim: To present the work of professionals and volunteers of the local help network that revolves around trying to help the homeless and to stimulate readers to critically assess the possible methods aimed towards the successful integration of those people into society. Methods: In the city of Koper, we visited five governmental (GOs) and non-governmental organisations (NGOs): Red Cross Koper, Daybreak Association, Center for Social Work Koper, Diocesan Caritas Koper and Koper Prison; and interviewed 3-10 staff members at each organisation. Results: For each organisation, we described its duties and activities, including its interconnection with other organisations, methods of integrating the homeless into the society and the personal thoughts of its staff members. Conclusions: Both GOs and NGOs are necessary for providing effective assistance to people in need. NGOs excel at quickly responding to immediate needs. Their programs are usually implemented only as short-term resolutions. GOs on the other hand require a longer time to implement their concepts. Nonetheless, in contrast to NGO projects, they provide long-term stability. Even though people from remote parts of the society usually cooperate, the efforts of those who work with them are nothing short of exerting. They strive to achieve a general social acceptance of their ward population, which is the one thing those people need the most. Since only the society is truly capable of offering them a firm stepping stone towards escaping from the vicious circle in which they stray.

Between Catastrophes: God, Nature and Humanity

2021 ◽  
Vol 77 (2-3) ◽  
pp. 489-500
Author(s):  
John Milbank
Keyword(s):  
Human Life ◽  
Human Existence ◽  
The Other ◽  
Short Term ◽  
Global Consensus ◽  
First Response ◽  
Relative Stress ◽  
Doctrine Of Creation ◽  
The One

Critical responses to the pandemic have divided between the need to control and defeat it and fears of a new medicalisation of human existence. In the short-term the first response is right, but in the long-term the second. The ideological division on this issue on the left roughly correlates with a relative stress on the power of the market on the one hand or the power of the state on the other. But these are two halves of the same picture: the mechanisation of human life and the artificial rendering of the natural scarce and threatening. The tendencies that give rise to pandemics and those which exult in increasing total control are the same. Resistance can only come from a resistance to liberal mechanising as such. This requires the double sense that we are as spirits located within nature and yet as spirits transcend nature, which the theological doctrine of creation upholds. The challenge is to create a new global consensus and shared metaphysical politics around this legacy.

Part I Elements of Bank Resolution Regimes, 1 Introduction

2016 ◽  
Author(s):  
Gleeson Simon ◽  
Guynn Randall
Keyword(s):  
Capital Structure ◽  
The Other ◽  
Short Term ◽  
Important Distinction ◽  
Bank Resolution ◽  
Unsecured Debt ◽  
Corporate Insolvency ◽  
The One

The introduction discusses why dealing with insolvent banks is fundamentally different from dealing with insolvent commercial companies. In ordinary corporate insolvency practice, commercial companies can be allowed to continue to operate while insolvent, by suspending payments on their financial liabilities while continuing to make payments on their commercial liabilities. This allows them to be reorganized or recapitalized rather than liquidated, which almost always results in better recoveries for their creditors, including their financial creditors. The problem in applying this model to a bank is that with a bank there is no meaningful distinction between financial and commercial liabilities. Virtually all bank liabilities are financial liabilities. Instead, the important distinction for banks is between long-term unsecured debt and other capital structure liabilities on the one hand, and short-term unsecured debt and other operating liabilities on the other. Banks can be allowed to continue operating after they reach the point of insolvency if their capital structure liabilities are made subordinate to their operating liabilities in advance. If that has been done, payments on their capital structure liabilities can be suspended while payments on their operating liabilities continue to be made after they reach the point of insolvency and they can be recapitalized (made solvent again) by converting their long-term unsecured debt into equity. This approach should stem runs, avoid contagion and preserve their critical operations for the benefit of the economy as a whole, and also result in better recoveries for all creditors, including the holders of their capital structure liabilities, compared to an immediate liquidation.

scholarly journals LIQUIDITY AND SOLVENCY ANALYSIS OF THE REAL SECTOR OF THE ECONOMY OF SERBIA FOR 2018-2019

2021 ◽  
Vol 21 (1) ◽  
Author(s):  
Sandra Zajmi
Keyword(s):  
Inventory Management ◽  
Real Sector ◽  
Short Term ◽  
Economic Sectors ◽  
The Real ◽  
Long Run ◽  
Medium Enterprises ◽  
Available Information ◽  
The Impact

Issues of liquidity and solvency of companies, and not only issues of profitability, are crucial in the context of considering the future business of companies, and thus the economic sectors and the economy as a whole. For several years now, the required short-term funds are still not enough to service current liabilities. Liquidity rates are at half of a satisfactory level, while the growth of long-term loans, together with equity, is still not sufficient to finance fixed assets (solvency). Liquidity and solvency issues affect both the efficiency and productivity of the company, and indirectly the profitability. Based on the available information, the paper discusses the results of the real sector of the Serbian economy for the period 2018-2019, in the context of liquidity and solvency, as well as selected individual sectors, using generally accepted indicators. In the new crisis caused by the COVID 19 virus, companies have found themselves in a position where many of them need additional capital in order to improve and harmonize their financial structure. The illiquidity of the economy is a chronic problem, it is structural in its nature, which is the result of business inefficiency and a high degree of volatility on the impact of exogenous variables. In terms of solvency, we can conclude that one of the basic problems of all sectors is efficiency in inventory management, slow collection of receivables and late payment of liabilities. If we add the IMF forecasts, to this already disrupted structure of the solvency of the economy, ie the real sector, in which, the share of insolvent companies in developing countries will increase by between 14% and 30% in 2020, (due to the pandemic), we can be not optimistic. On the other hand, we must emphasize that the forecasts of economic growth for the countries of the region in 2021 are fairly optimistic, and for Serbia the predicted growth is 6.1%. The result of the analysis points to the conclusion that there will be no significant changes in terms of revenue and profitability of the real sector in the short term, but that the crisis caused by coronavirus will mostly affect small, micro and medium enterprises when it comes to liquidity and solvency, in this respect. In the long run, impaired solvency, and after that liquidity, will affect the still intact profitability of the sector. In that regard, solvency issues have a more significant impact, because in the long run, if corrective measures are not being taken, they will cause the inability of the companies to pay long-term overdue liabilities, and increase the number of companies operating without equity and the number of blocked companies. The sectors that will have the biggest problems in terms of liquidity and solvency are certainly transport, accommodation and tourism, art, entertainment and recreation, and very likely construction.

scholarly journals Global Supply Chains: New Trends in the Context of the Coronavirus Pandemic

2021 ◽  
pp. 42-48
Author(s):  
I. V. Boiko ◽  
A. G. Getman
Keyword(s):  
Supply Chain ◽  
Supply Chains ◽  
Risk Reduction ◽  
Global Supply Chain ◽  
The Other ◽  
Global Supply Chains ◽  
Short Term ◽  
The One ◽  
National Governments

The article is dedicated to the new trends emerging in the global supply chain, related to the coronavirus pandemic COVID-19, substantially affected production, transportation and marketing of goods. The authors underline a high risks of initial chain location in China, which sporadically leads to a localization of production supply within national borders. This biase in the international logistics is rather long term than short term I terms of national sustainability. The authors underline the icreasing significance of risk reduction and supply chain reliability over minimization of cost in the logistical decision makings. The ambivalency in the trade of the pandemic emergency goods is analysed in a sense of providing specifically favourable terms for its sirculation among the countries on the one side and the national protection issued for such goods by the national governments, pursuing its sufficient provision on the domestic market on the other side.

Radioimmunotherapy for treatment of acute myeloid leukaemia and myelodysplastic syndrome

2005 ◽  
Vol 44 (03) ◽  
pp. 107-117
Author(s):  
R. G. Meyer ◽  
W. Herr ◽  
A. Helisch ◽  
P. Bartenstein ◽  
I. Buchmann
Keyword(s):  
Acute Myeloid Leukaemia ◽  
Myeloid Leukaemia ◽  
Primary Tumour ◽  
The Other ◽  
Haematopoietic Stem Cell ◽  
Other Hand ◽  
Primary Reduction ◽  
The One ◽  
Acute Myeloid

SummaryThe prognosis of patients with acute myeloid leukaemia (AML) has improved considerably by introduction of aggressive consolidation chemotherapy and haematopoietic stem cell transplantation (SCT). Nevertheless, only 20-30% of patients with AML achieve long-term diseasefree survival after SCT. The most common cause of treatment failure is relapse. Additionally, mortality rates are significantly increased by therapy-related causes such as toxicity of chemotherapy and complications of SCT. Including radioimmunotherapies in the treatment of AML and myelodyplastic syndrome (MDS) allows for the achievement of a pronounced antileukaemic effect for the reduction of relapse rates on the one hand. On the other hand, no increase of acute toxicity and later complications should be induced. These effects are important for the primary reduction of tumour cells as well as for the myeloablative conditioning before SCT.This paper provides a systematic and critical review of the currently used radionuclides and immunoconjugates for the treatment of AML and MDS and summarizes the literature on primary tumour cell reductive radioimmunotherapies on the one hand and conditioning radioimmunotherapies before SCT on the other hand.

Interrelationships between municipal spatial policy strategy and airport operation and development. Lodz Airport case study

2018 ◽  
Vol 59 (1) ◽  
pp. 65-79
Author(s):  
Katarzyna Nikorowicz-Zatorska
Keyword(s):  
Land Use ◽  
Urban Planning ◽  
Cultural Development ◽  
The Other ◽  
Local Authorities ◽  
Spatial Management ◽  
The One ◽  
Surrounding Areas

Abstract The present paper focuses on spatial management regulations in order to carry out investment in the field of airport facilities. The construction, upgrades, and maintenance of airports falls within the area of responsibility of local authorities. This task poses a great challenge in terms of organisation and finances. On the one hand, an active airport is a municipal landmark and drives local economic, social and cultural development, and on the other, the scale of investment often exceeds the capabilities of local authorities. The immediate environment of the airport determines its final use and prosperity. The objective of the paper is to review legislation that affects airports and the surrounding communities. The process of urban planning in Lodz and surrounding areas will be presented as a background to the problem of land use management in the vicinity of the airport. This paper seeks to address the following questions: if and how airports have affected urban planning in Lodz, does the land use around the airport prevent the development of Lodz Airport, and how has the situation changed over the time? It can be assumed that as a result of lack of experience, land resources and size of investments on one hand and legislative dissonance and peculiar practices on the other, aviation infrastructure in Lodz is designed to meet temporary needs and is characterised by achieving short-term goals. Cyclical problems are solved in an intermittent manner and involve all the municipal resources, so there’s little left to secure long-term investments.

Measuring Absolute Membrane Potential Across Space and Time

2021 ◽  
Vol 50 (1) ◽  
Author(s):  
Julia R. Lazzari-Dean ◽  
Anneliese M.M. Gest ◽  
Evan W. Miller
Keyword(s):  
Membrane Potential ◽  
Neurotransmitter Release ◽  
Cell Cycle Control ◽  
The Other ◽  
Annual Review ◽  
Publication Date ◽  
Short Term ◽  
Cellular Processes ◽  
Sensing Platform ◽  
The One

Membrane potential (Vmem) is a fundamental biophysical signal present in all cells. Vmem signals range in time from milliseconds to days, and they span lengths from microns to centimeters. Vmem affects many cellular processes, ranging from neurotransmitter release to cell cycle control to tissue patterning. However, existing tools are not suitable for Vmem quantification in many of these areas. In this review, we outline the diverse biology of Vmem, drafting a wish list of features for a Vmem sensing platform. We then use these guidelines to discuss electrode-based and optical platforms for interrogating Vmem. On the one hand, electrode-based strategies exhibit excellent quantification but are most effective in short-term, cellular recordings. On the other hand, optical strategies provide easier access to diverse samples but generally only detect relative changes in Vmem. By combining the respective strengths of these technologies, recent advances in optical quantification of absolute Vmem enable new inquiries into Vmem biology. Expected final online publication date for the Annual Review of Biophysics, Volume 50 is May 2021. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.

On indirect Methods of acquiring Knowledge - The Method of History. - The First Table of Mortality

1851 ◽  
Vol 1 (1) ◽  
pp. 40-46
Author(s):  
Edwin James Farren
Keyword(s):  
Real Line ◽  
English Language ◽  
The Other ◽  
Adult Student ◽  
Indirect Methods ◽  
The Real ◽  
Straight Line ◽  
Point To Point ◽  
The One

The term scholar, as current in the English language, has two extreme acceptations, tyro and proficient; or what the later Greeks fancifully termed the alpha and omega of acquirement. If we attempt to trace the steps by which even the adult student of any especial branch of professional or literary knowledge has fairly passed the boundary defined by the one meaning in passing on to that position denoted by the other, it will commonly be found, that in place of that lucid order, that straight line from point to point, which theory and resolve generally premise, the real order of acquirement has been desultory—the real line of progression, circuitous and uncertain.

Sign in / Sign up

Export Citation Format

Share Document