BASEL III- Responses to Consultative Documents, Vital Aspects of the Consultative Processes and the Journey Culminating in the Present Framework (Part 1)

This paper is aimed at providing a comprehensive overview of, and responses to, four very vital components of the consultative processes which have contributed to the new framework known as Basel III. The paper will approach these components in the order of the consultative processes, namely, the capital proposals, the liquidity proposals and the Proposal to ensure the loss absorbency of regulatory capital at the point of non-viability. The capital proposals comprise proposals aimed at strengthening the resilience of the banking sector, the proposal relating to international framework for liquidity risk measurement, standards and monitoring and, the countercyclical capital buffer proposal. Whilst the capital proposals have been welcomed, there has been growing realisation since the aftermath of the recent Financial Crises that banks which have been complying with capital adequacy requirements could still face severe liquidity problems. As well as highlighting the importance of introducing counter cyclical capital buffers, the response to the countercyclical proposal draws attention to the need for greater focus on more forward looking provisions, as well as provisions which are aimed at addressing losses and unforeseen problems attributed to “maturity transformation of short-term deposits into long term loans.” The Basel Committee’s consultative document on the “Proposal to Ensure the Loss Absorbency of Regulatory Capital at the Point of Non Viability” sets out a proposal aimed at “enhancing the entry criteria of regulatory capital to ensure that all regulatory capital instruments issued by banks are capable of absorbing losses in the event that a bank is unable to support itself in the private market.” Amongst other issues addressed, the response to the consultative document highlights why the controlled winding down procedure also constitutes a means whereby losses could still be absorbed in the event that a bank is unable to support itself in the private market

Adding Privacy Protection to Policy Based Authorisation Systems

An authorisation system determines who is authorised to do what i.e. it assigns privileges to users and provides a decision on whether someone is allowed to perform a requested action on a resource. A traditional authorisation decision system, which is simply called authorisation system or system in the rest of the thesis, provides the decision based on a policy which is usually written by the system administrator. Such a traditional authorisation system is not sufficient to protect privacy of personal data, since users (the data subjects) are usually given a take it or leave it choice to accept the controlling organisation’s policy. Privacy is the ability of the owners or subjects of personal data to control the flow of data about themselves, according to their own preferences. This thesis describes the design of an authorisation system that will provide privacy for personal data by including sticky authorisation policies from the issuers and data subjects, to supplement the authorisation policy of the controlling organisation. As personal data moves from controlling system to controlling system, the sticky policies travel with the data. A number of data protection laws and regulations have been formulated to protect the privacy of individuals. The rights and prohibitions provided by the law need to be enforced by the authorisation system. Hence, the designed authorisation system also includes the authorisation rules from the legislation. This thesis describes the conversion of rules from the EU Data Protection Directive into machine executable rules. Due to the nature of the legislative rules, not all of them could be converted into deterministic machine executable rules, as in several cases human intervention or human judgement is required. This is catered for by allowing the machine rules to be configurable. Since the system includes independent policies from various authorities (law, issuer, data subject and controller) conflicts may arise among the decisions provided by them. Consequently, this thesis describes a dynamic, automated conflict resolution mechanism. Different conflict resolution algorithms are chosen based on the request contexts. As the EU Data Protection Directive allows processing of personal data based on contracts, we designed and implemented a component, Contract Validation Service (ConVS) that can validate an XML based digital contract to allow processing of personal data based on a contract. The authorisation system has been implemented as a web service and the performance of the system is measured, by first deploying it in a single computer and then in a cloud server. Finally the validity of the design and implementation are tested against a number of use cases based on scenarios involving accessing medical data in a health service provider’s system and accessing personal data such as CVs and degree certificates in an employment service provider’s system. The machine computed authorisation decisions are compared to the theoretical decisions to ensure that the system returns the correct decisions

Development of Pc-Based Multi-Channel Measurement Unit

Nowadays the microcomputer has been involved in a variety of applications. These applications range from a simple ON/OFF operation to intelligent data acquisition, signal processing and control in individual automation applications. Moreover it can be utilised in monitoring different physical and electrical quantities. This study was mainly concerned with the design of 2-channel isolated current measurement board. The board can be plugged into one of the input/output (I/O) slots in the IBMlPC/ AT or compatibles. Signal from enzyme electrodes were used in the analysis to monitor the oxygen consumption or the production of hydrogen peroxide that represented the input current to the board. Each channel was selected using a software

Roadblock to Trade: The State-Controlled Economy Issue in Antidumping Law Administration

This article will review and analyze the background of the SCE provisions, the operation and limitations of the current law as evidenced by recent cases, and the proposed legislation currently before Congress