Does Bank Resolution Rule out the Use of Public Funds? The Case of the Podkarpacki Bank Spółdzielczy

On 15 January 2020 Polish resolution authority made a decision to launch the resolution of a regional cooperative bank. The aim of the resolution was to maintain the service of local government units, considered as the critical function of the bank. The tool used was a bridge bank combined with bail-in to subordinated bonds and unguaranteed deposits, including deposits from local government units. The author is of the opinion that the write-off deposits from public entities was a substitute of the insufficient amount of liabilities contractually eligible for bail-in, served as the instrument enhancing credibility of resolution as well as protecting other creditors from excessive losses (i.e. mitigating contagion risk). The presented case of bank resolution, has been assessed as an example of intentionally bending of the stiff BRRD rules to an unusual case to find the practical, socially acceptable solution. By comparing this case with resolution of other small banks in the EU, the author argues that national authorities seek to limit the scope for bail-in and try to use the financial arrangements within the resolution of small local banks as more secure for the banking sector and socially acceptable manner.

Optimization of Velocity Mode in Buslaev Two-Contour Networks via Competition Resolution Rules

<p>In computer networks based on the principle of packet switching, the important transmitting function is to maintain packet queues and suppress congestion. Therefore, the problems of optimal control of the communication networks are relevant. For example, there are users, and no more than a demand of one user can be served simultaneously. This paper considers a discrete dynamical system with two contours and two common points of the contours called the <em>nodes</em>. There are <em>n</em> cells and particles, located in the cells. At any discrete moment the particles of each contour occupy neighboring cells and form a cluster. The nodes divide each contour into two parts of length and (non-symmetrical system). The particles move in accordance with rule of the elementary cellular automaton 240 in the Wolfram classification. Delays in the particle movement are due to that more than one particle cannot move through the node simultaneously. A competition (conflict) occurs when two clusters come to the same node simultaneously. We have proved that the spectrum of velocities contains no more than two values for any fixed <em>n , d</em> and <em>l</em>. We have found an optimal rule which minimizes the average velocity of clusters. One of the competition clusters passes through the node first in accordance with a given competition rule. Two competition resolutions rules are introduced. The rules are called input priority and output priority resolution rules. These rules are Markovian, i.e., they takes into account only the present state of the system. For each set of parameters <em>n, d</em> and <em>l</em>, one of these two rules is optimal, i.e., this rule maximizes the average velocity of clusters. These rules are compared with the left-priority resolution rule, which was considered earlier. We have proved that the spectrum of velocities contains no more two values for any fixed <em>n, l,</em> and <em>d</em>. We have proved that the input priority rule is optimal if , and the output priority rule is optimal if .</p>

Does bank resolution rule out the use of public funds? The case of the Podkarpacki Bank Spółdzielczy

On 15 January 2020 Polish resolution authority made a decision to launch the resolution of a regional cooperative bank. The aim of the resolution was to maintain the service of local government units, considered as the critical function of the bank. The tool used was a bridge bank combined with bail-in to subordinated bonds and unguaranteed deposits, including deposits from local government units. The author is of the opinion that the write-off deposits from public entities was a substitute of the insufficient amount of liabilities contractually eligible for bail-in, served as the instrument enhancing credibility of resolution as well as protecting other creditors from excessive losses (i.e. mitigating contagion risk). The presented case of bank resolution, has been assessed as an example of intentionally bending of the stiff BRRD rules to an unusual case to find the practical, socially acceptable solution. By comparing this case with resolution of other small banks in the EU, the author argues that national authorities seek to limit the scope for bail-in and try to use the financial arrangements within the resolution of small local banks as more secure for the banking sector and socially acceptable manner.

A resolution calculus for MinSAT

The logical calculus for SAT are not valid for MaxSAT and MinSAT because they preserve satisfiability but not the number of unsatisfied clauses. To overcome this drawback, a MaxSAT resolution rule preserving the number of unsatisfied clauses was defined in the literature. This rule is complete for MaxSAT when it is applied following a certain strategy. In this paper we first prove that the MaxSAT resolution rule also provides a complete calculus for MinSAT if it is applied following the strategy proposed here. We then describe an exact variable elimination algorithm for MinSAT based on that rule. Finally, we show how the results for Boolean MinSAT can be extended to solve the MinSAT problem of the multiple-valued clausal forms known as signed conjunctive normal form formulas.

Spectrum of Elementary Cellular Automata and Closed Chains of Contours †

In this paper, we study the properties of some elementary automata. We have obtained the characteristics of these cellular automata. The concept of the spectrum for a more general class than the class of elementary automata is introduced. We introduce and study discrete dynamical systems which represents the transport of mass on closed chains of contours. Particles on contours move in accordance with given rules. These dynamical systems can be interpreted as cellular automata. Contributions towards this study are as follows. The characteristics of some elementary cellular automata have been obtained. A theorem about the velocity of particles’ movement on the closed chain has been proved. It has been proved that, for any ε > 0 , there exists a chain with flow density ρ < ε such that the average flow particle velocity is less than the velocity of free movement. An interpretation of this system as a transport model is given. The spectrum of a binary closed chain with some conflict resolution rule is studied.

Real-time Conflict Resolution Algorithm for Multi-UAV Based on Model Predict Control

A real-time conflict resolution algorithm based on model predictive control (MPC) is introduced to address the flight conflict resolution problem in multi-UAV scenarios. Using a low-level controller, the UAV dynamic equations are abstracted into simpler unicycle kinematic equations. The neighboring UAVs exchange their predicted trajectories at each sample time to predict the conflicts. Then, under the predesignated resolution rule and strategy, decentralized coordination and cooperation are performed to resolve the predicted conflicts. The controller structure of the distributed nonlinear model predictive control (DNMPC) is designed to predict potential conflicts and calculate control variables for each UAV. Numerical simulations of multi-UAV coordination are performed to verify the performance of the proposed algorithm. Results demonstrate that the proposed algorithm can resolve the conflicts sufficiently in real time, while causing no further conflicts.

Gender Resolution in Croatian, Slavic and Proto-Indo-European

This paper deals with the origin and development of the gender resolution rule according to which the predicate adjective agrees with the masculine antecedent when there is agreement with a conjunction of subjects at least one of which denotes a male person. Apart from Croatian, such a rule exists (or existed) in the other Slavic languages, as well as in Baltic languages, so it can safely be posited for Proto-Slavic and Proto-Balto-Slavic. We further show that most contemporary and ancient Indo-European languages had such a gender resolution rule. Where such a rule does not exist (as in Germanic languages), there is a plausible historical explanation. In Hittite, which preserves the most ancient gender system of Indo-European (with only common and neuter genders, and no feminine gender), the default agreement is with the common gender noun. Recent advances in our understanding of the development of gender in Indo-European allow us to show that the rule taking the masculine as the default gender has developed from the rule taking the common gender as default. This is because the morphemes showing gender agreement on adjectives and pronouns of the masculine gender have developed from Early Proto-Indo-European morphemes expressing the common gender.

A Resolution Method for Modal Logic S5

The aim of this work is to define a resolution method for the modal logic S5. Wefirst propose a conjunctive normal form (S5-CNF) which is mainly based on using labelsreferring to semantic worlds. In a sense, S5-CNF can be seen as a generalization of theconjunctive normal form in propositional logic by using in the clause structure the modalconnective of necessity and labels. We show that every S5 formula can be transformedinto an S5-CNF formula using a linear encoding. Then, in order to show the suitabilityof our normal form, we describe a modeling of the problem of graph coloring. Finally, weintroduce a simple resolution method for S5, composed of three deductive rules, and weshow that it is sound and complete. Our deductive rules can be seen as adaptations ofRobinson’s resolution rule to the possible-worlds semantics.

A Case Study on Data Quality, Privacy, and Evaluating the Outcome of Entity Resolution Processes

This paper presents ongoing research conducted through collaboration between the University of Arkansas at Little Rock and the Arkansas Department of Education to develop an entity resolution and identity management system. The process includes a multi-phase approach consisting of data-quality analysis, selection of entity-identity attributes for entity resolution, defined a rule set using the open source entity-resolution system named OYSTER and used entropy approach to identify the potential false positive and false negative. The research is the first known of its kind to evaluate privacy-enhancing, entity-resolution rule sets in a state education agency.