Commercial bank load loss recoveries

We present a new approach to analyse historical recovery rates on distressed bank assets. Our approach uses banks’ reported impaired assets and the corresponding specific provisions. The dynamics and drivers of this credit loss recovery proxy are studied for a comprehensive sample of Australian banks from 1989 to 2005. We find that macroeconomic and bank-specific factors influence banks’ estimates of loan loss recoveries, consistent with banks smoothing their earnings. In contrast with findings based on prices of distressed corporate bonds, banks record lower recoveries in years of strong economic growth

Credit losses in Australasian banking

We analyse determinants of bank credit losses in Australasia. Despite sizeable credit losses over the past two decades, ours is the first systematic study to do so. Analysis is based on a comprehensive dataset retrieved from original financial reports of 32 Australasian banks (1980- 2005). Credit losses rise when the macro economy is weak. Asset markets, particularly the equity market, are also important. Larger banks provide more for credit losses while less efficient banks have greater asset quality problems. Strong loan growth translates into significantly higher credit losses with a lag of 2-4 years. Finally, the results show strong evidence of income smoothing activities by banks

Zur Frage der Existenz definierter Hydrate in Natronlaugen verschiedener Konzentration und deren Einfluß auf die Bildung von Cellulosexanthat

[No abstract available

The Design of an Uncertainty Model For The Tidal Constituent and Residual Interpolation (TCARI) Method for Tidal Correction of Bathymetric Data

Recent advances in processing multibeam sonar data brought about by the Combined Uncertainty and Bathymetric Estimator (CUBE) [1] have demonstrated the value of identifying and tracking survey uncertainties. Most of these uncertainties were outlined in Hare, Godin, and Mayer uncertainty model developed in 1995 [2]. That report identified the uncertainties in the various electronic systems used to acquire the bathymetric data. However, one of the largest contributors to the overall error budge t in a near coastal hydrographic survey is that contributed by water level uncertainty. As the ocean mapping industry pushes for ever finer spatial details in its data, the traditional method of discrete tide zoning [3] must be abandoned for a more robust method that can match the requirements of the data. The method currently under investigation by the National Oceanic and Atmospheric Administration is the Tidal Constituent And Residual Interpolation (TCARI) method [4]. TCARI has the ability to interpolate the water level at a vessel’s position for any location and instance in time. It can also produce a gridded water level surface of the entire survey area. While the potential of this method is encouraging, a rigorous investigation of the uncertainties associated with it has yet to be completed. This research seeks to close that gap by examining the uncertainties in this method, using both observed water level information from around the country as well as data acquired during the original 1995 NOS Kinematic GPS experiment in Galveston Bay, Texas [5]

Prevalence and densitometric characteristics of incomplete distal renal tubular acidosis in men with recurrent calcium nephrolithiasis

The aim of this study was to assess the prevalence of incomplete distal renal tubular acidosis (idRTA) in men with recurrent calcium nephrolithiasis and its potential impact on bone mineral density. We conducted a retrospective analysis of 150 consecutive, male idiopathic recurrent calcium stone formers (RCSFs), which had originally been referred to the tertiary care stone center of the University Hospital of Berne for further metabolic evaluation. All RCSFs had been maintained on a free-choice diet while collecting two 24-h urine samples and delivered second morning urine samples after 12h fasting. Among 12 RCSFs with a fasting urine pH >5.8, a modified 3-day ammonium chloride loading test identified idRTA in 10 patients (urine pH >5.32, idRTA group). We matched to each idRTA subject 5 control subjects from the 150 RCSFs, primary by BMI and then by age, i.e., 50 patients, without any acidification defect (non-RTA group) for comparative biochemistry and dual energy X-ray absorptiometry (DEXA) analyses. The prevalence of primary idRTA among RCSFs was 6.7% (10/150). Patients with idRTA had significantly higher 2-h fasting and 24-h urine pH (2-h urine pH: 6.6±0.4 vs. 5.2±0.1, p=0.001; 24-h urine pH: 6.1±0.2 vs. 5.3±0.3, p=0.001), 24-h urinary calcium excretion (7.70±1.75 vs. 5.69±1.73mmol/d, p=0.02), but significantly lower 24-h urinary urea excretion (323±53 vs. 399±114mmol/d, p=0.01), urinary citrate levels (2.32±0.82 vs. 3.01±0.72mmol/d, p=0.04) and renal phosphate threshold normalized for the glomerular filtration rate (TmPO4/GFR: 0.66±0.17 vs. 0.82±0.21, p=0.03) compared to non-RTA patients. No significant difference in bone mineral density (BMD) was found between idRTA and non-RTA patients for the lumbar spine (LS BMD (g/cm2): 1.046±0.245 SD vs. 1.005±0.119 SD, p=0.42) or femoral neck (FN BMD (g/cm2): 0.830±0.135 SD vs. 0.852±0.127 SD). Thus, idRTA occurs in 1 in 15 male RCSFs and should be sought in all recurrent calcium nephrolithiasis patients. Bone mineral density, however, does not appear to be significantly affected by idRT

Combined horizontal and vertical integration of care: a goal of practice-based commissioning

Practice-based commissioning (PBC) in the UK is intended to improve both the vertical and horizontal integration of health care, in order to avoid escalating costs and enhance population health. Vertical integration involves patient pathways to treat named medical conditions that transcend organisational boundaries and connect communitybased generalists with largely hospital-sited specialists, whereas horizontal integration involves peerbased and cross-sectoral collaboration to improve overall health. Effective mechanisms are now needed to permit ongoing dialogue between the vertical and horizontal dimensions to ensure that medical and nonmedical care are both used to their best advantage. This paper proposes three different models for combining vertical and horizontal integration – each is a hybrid of internationally recognised ideal types of primary care organisation. Leaders of PBC should consider a range of models and apply them in ways that are relevant to the local context. General practitioners, policy makers and others whose job it is to facilitate horizontal and vertical integration must learn to lead such combined approaches to integration if the UK is to avoid the mistakes of the USA in over-medicalising health issues

Credit Loss Dynamics in Australasian Banking

The purpose of this thesis is to analyze the drivers and dynamics of credit losses in Australasian banking over an extended period of time in order to improve the means by which financial institutions manage their credit risks and regulatory bodies safeguard the stability and integrity of the financial system. The analysis is based on a specially constructed data base of credit loss and provisioning data retrieved from original financial reports published by Australian and New Zealand banks. The observation period covers 1980 to 2005, starting at the time when such information was published for the first time in bank financial statements. It moreover covers the time of major crises which occurred in both Australia and New Zealand in the late 1980s and early 1990s. The heterogeneity of reporting the data both amongst banks and through time requires the development of a reporting typology which allows data extraction with equivalent informational content. As a thorough study of credit risks requires long data series often not available from third party data providers, the method developed here will provide value to a range of researchers. Based on an evaluation of many alternative proxies which track a bank's credit loss experience (CLE), the thesis proposes a preferred model for impaired assets expense (as % of loans) as dependent variable, mainly because of its timely nature and good data availability. Explanatory variables include aggregate macro variables of which changes in unemployment and the return in the share markets are found to have the most significant influence on a bank's credit losses. Bank-specific control variables include a pre-provision earnings proxy whose significance points to the use of provisions for the purpose of income smoothing by Australasian banks. The model also controls for size and nature of lending as smaller, retail-oriented housing lenders, on average, exhibit lower loan losses. Clear results are found with regard to the effect of rapid expansion which appears to be followed by a surge of bad debt provisions 2 to 3 years later. Moreover, inefficient banks tend to suffer greater credit losses. An important part of the thesis looks at the characteristics of alternative CLE proxies such as stock of provisions, impaired assets and write-offs which have been used by earlier literature. Estimating the preferred model with such alternative CLE parameters confirms their peculiarities such as the memory character of stock of provisions and the delayed nature of write-offs. These measures correlate rather poorly amongst themselves which calls for caution in the comparative interpretation of earlier studies that use differing CLE proxies