Financial services in the euro-mediterranean partnership : banking

Towards the goal to gather a better understanding of the banking structure and the regulatory practices in place, the Working Group on Financial Services in the Euro-Mediterranean Partnership developed a survey. This survey is based on a questionnaire which was addressed to the States of the MEDA region. The questionnaire tackled various topics related to the banking regulation, supervisory institutions in charge and the prevalent market conditions such as current market data. Furthermore the jurisdictions were asked to assess the compliance with the Core Principles for Effective Banking Supervision (BIS 25) in their countries. Essential Banking laws and regulations are now in place in most countries of the region and Central Banks are upgrading their oversight capacity. Management systems are becoming more and more sophisticated and often include enhanced risk-based supervision functions procedures, with related manuals for supervision and training of staff. Bank Corporate governance as well as regulatory compliance with capital adequacy ratios have signifi cantly improved as a result of staff better prepared to carry out their newly introduced or strengthened obligations. Despite progress and a number of successful reforms, several challenges remain and need to be addressed to prepare the banking industry. Some of the necessary reforms would also facilitate fi nancial integration in the region accommodating the envisaged free trade: - Strengthen the soundness of the banking systems in all countries. In particular it is important to reduce the high level of non performing loans, to restructure state-owned banks, and to secure compliance with prudential rules ; - Increase competition in the banking system. Notably, extensive state ownership and restrictions on foreign bank entry stifl e competition and fi nancial deepening in the region; opening up the banking sector for commercial banks both for domestic credit institutions and those abroad is a solution ; - Deepen the fi nancial markets where they are bankdominated. Financial markets (money, interbank, foreign exchange, equity, and securities markets) are nascent or shallow in most countries, and nonbank fi nancial institutions are generally underdeveloped ; - Upgrade financial sector infrastructure. In particular, accounting and auditing practices, transparency and corporate governance, the legal and judicial framework, and the payment systems need to be strengthened.Euromed MEDA; Banking; Convergence; Mediterranean countries; European Union

Sprechende Dokumente

Das Staatsarchiv Hamburg feierte 2010 sein 300-jähriges Bestehen. Sein Vorläufer wurde bereits im Jahre 1293 erstmals erwähnt und somit die Aufbewahrung wichtiger Dokumente der Stadt an zentraler Stelle bezeugt. Doch erst seit dem 11. September 1710, dem Amtsantritt von Nicolaus Stampeel als wissenschaftlicher Archivar bei der Stadt Hamburg, werden Dokumente systematisch ausgewählt, bewahrt und erschlossen. Dieses Jubiläum hat das Staatsarchiv mit einem breit gefächerten Veranstaltungsprogramm begangen, zu dem auch Vorträge und Lesungen gehörten, die in der hier vorliegenden Festschrift abgedruckt sind.In 2010, the Hamburg State Archives celebrated its 300th anniversary. The Archives\u27 forerunner was first mentioned in 1293 and thus testified to the preservation of important documents of the city in a central place. But it was not until September 11th, 1710, when Nicolaus Stampeel took office as a scientific archivist at the City of Hamburg. From then on, documents were systematically selected, preserved and indexed. This anniversary was celebrated by the State Archives with a broad programme of events, which included lectures and readings printed in the commemorative volume available here

Pulmonary Microembolism in the Canine Model: Report of a Pilot Study

Use of in-line final filters to prevent the infusion of foreign particulates has lowered the rates of postinfusion phlebitis in several controlled studies. The systemic effect of particulate infusion, however, has not been thoroughly studied. In this study, 12 mongrel dogs recovering from a right pneumonectomy were studied following infusion of various-sized particulates. Ten of the dogs were infused with either 10 or 40 million, 9 or 25 μm, latex particles. The remaining two dogs were control animals. Hemodynamic parameters were monitored in each animal. At death or 72 hours following particle injection, the left lung was examined grossly and histologically. Changes in hemodynamic parameters were not seen. Three of the dogs became clinically ill 48 hours following microsphere injection. All dogs injected with particles had multiple discrete punctate areas of hemorrhagic pulmonary infarction. The control dogs showed no sign of clinical illness or pulmonary injury. More sophisticated animal and human studies are required to fully determine the physiologic effect of injected particles

Financial services in the euro-mediterranean partnership : banking

Towards the goal to gather a better understanding of the banking structure and the regulatory practices in place, the Working Group on Financial Services in the Euro-Mediterranean Partnership developed a survey. This survey is based on a questionnaire which was addressed to the States of the MEDA region. The questionnaire tackled various topics related to the banking regulation, supervisory institutions in charge and the prevalent market conditions such as current market data. Furthermore the jurisdictions were asked to assess the compliance with the Core Principles for Effective Banking Supervision (BIS 25) in their countries. Essential Banking laws and regulations are now in place in most countries of the region and Central Banks are upgrading their oversight capacity. Management systems are becoming more and more sophisticated and often include enhanced risk-based supervision functions procedures, with related manuals for supervision and training of staff. Bank Corporate governance as well as regulatory compliance with capital adequacy ratios have signifi cantly improved as a result of staff better prepared to carry out their newly introduced or strengthened obligations. Despite progress and a number of successful reforms, several challenges remain and need to be addressed to prepare the banking industry. Some of the necessary reforms would also facilitate fi nancial integration in the region accommodating the envisaged free trade: - Strengthen the soundness of the banking systems in all countries. In particular it is important to reduce the high level of non performing loans, to restructure state-owned banks, and to secure compliance with prudential rules ; - Increase competition in the banking system. Notably, extensive state ownership and restrictions on foreign bank entry stifl e competition and fi nancial deepening in the region; opening up the banking sector for commercial banks both for domestic credit institutions and those abroad is a solution ; - Deepen the fi nancial markets where they are bankdominated. Financial markets (money, interbank, foreign exchange, equity, and securities markets) are nascent or shallow in most countries, and nonbank fi nancial institutions are generally underdeveloped ; - Upgrade financial sector infrastructure. In particular, accounting and auditing practices, transparency and corporate governance, the legal and judicial framework, and the payment systems need to be strengthened

Financial services in the euro-mediterranean partnership : banking

Towards the goal to gather a better understanding of the banking structure and the regulatory practices in place, the Working Group on Financial Services in the Euro-Mediterranean Partnership developed a survey. This survey is based on a questionnaire which was addressed to the States of the MEDA region. The questionnaire tackled various topics related to the banking regulation, supervisory institutions in charge and the prevalent market conditions such as current market data. Furthermore the jurisdictions were asked to assess the compliance with the Core Principles for Effective Banking Supervision (BIS 25) in their countries. Essential Banking laws and regulations are now in place in most countries of the region and Central Banks are upgrading their oversight capacity. Management systems are becoming more and more sophisticated and often include enhanced risk-based supervision functions procedures, with related manuals for supervision and training of staff. Bank Corporate governance as well as regulatory compliance with capital adequacy ratios have signifi cantly improved as a result of staff better prepared to carry out their newly introduced or strengthened obligations. Despite progress and a number of successful reforms, several challenges remain and need to be addressed to prepare the banking industry. Some of the necessary reforms would also facilitate fi nancial integration in the region accommodating the envisaged free trade: - Strengthen the soundness of the banking systems in all countries. In particular it is important to reduce the high level of non performing loans, to restructure state-owned banks, and to secure compliance with prudential rules ; - Increase competition in the banking system. Notably, extensive state ownership and restrictions on foreign bank entry stifl e competition and fi nancial deepening in the region; opening up the banking sector for commercial banks both for domestic credit institutions and those abroad is a solution ; - Deepen the fi nancial markets where they are bankdominated. Financial markets (money, interbank, foreign exchange, equity, and securities markets) are nascent or shallow in most countries, and nonbank fi nancial institutions are generally underdeveloped ; - Upgrade financial sector infrastructure. In particular, accounting and auditing practices, transparency and corporate governance, the legal and judicial framework, and the payment systems need to be strengthened

Implementation of the Chicago sum frequency laser at Palomar laser guide star test bed

Work is underway at the University of Chicago and Caltech Optical Observatories to implement a sodium laser guide star adaptive optics system for the 200 inch Hale telescope at Palomar Observatory. The Chicago sum frequency laser (CSFL) consists of two pulsed, diode-pumped, mode-locked Nd:YAG lasers working at 1.064 micron and 1.32 micron wavelengths. Light from the two laser beams is mixed in a non-linear crystal to produce radiation centered at 589 nm with a spectral width of 1.0 GHz (FWHM) to match that of the Sodium-D2 line. Currently the 1.064 micron and 1.32 micron lasers produce 14 watts and 8 watts of TEM-00 power respectively. The laser runs at 500 Hz rep. rate with 10% duty cycle. This pulse format is similar to that of the MIT-Lincoln labs and allows range gating of unwanted Rayleigh scatter down an angle of 60 degrees to zenith angle. The laser system will be kept in the Coude lab and will be projected up to a laser launch telescope (LLT) bore-sited to the Hale telescope. The beam-transfer optics, which conveys the laser beam from the Coude lab to the LLT, consists of motorized mirrors that are controlled in real time using quad-cell positioning systems. This needs to be done to prevent laser beam wander due to deflections of the telescope while tracking. There is a central computer that monitors the laser beam propagation up to the LLT, the interlocks and safety system status, laser status and actively controls the motorized mirrors. We plan to install a wide-field visible camera (for high flying aircraft) and a narrow field of view (FoV) IR camera (for low-flying aircraft) as part of our aircraft avoidance system

Perioperative donor bone marrow infusion augments chimerism in heart and lung transplant recipients

Background.: We and others have demonstrated that a low level of donor cell chimerism was present for years after transplantation in tissues and peripheral blood of heart and lung recipients; it was associated, in the latter, with a lower incidence of chronic rejection. To augment this phenomenon, we initiated a trial combining simultaneous infusion of donor bone marrow with heart or lung allotransplantation. Methods.: Between September 1993 and January 1995, 15 nonconditioned patients received either heart (n = 10) or lung (n = 5) allografts concurrently with an infusion of unmodified donor bone marrow (3.0 × 108 cells/kg), and were maintained on an immunosuppressive regimen consisting of tacrolimus and steroids. Results.: There was no complication associated with the infusion of donor bone marrow. Chimerism was detectable in 73% of bone marrow-augmented patients up to the last sample tested. Of the 5 control recipients who did not receive bone marrow infusion, only 1 had detectable chimerism by flow on postoperative day 15, which dwindled to an undetectable level by postoperative day 36. None of the patients had evidence of donor-specific immune modulation by mixed lymphocyte reaction. Conclusions.: The combined infusion of donor bone marrow and heart or lung transplantation, without preconditioning of the recipient, is safe and is associated with an augmentation of donor cell chimerism. © 1995 The Society of Thoracic Surgeons

On-orbit servicing commercial opportunities with security implications

The On-Orbit Servicing (OOS) working group discussed legal and political implications of developing a commercial OOS industry. The group considered the benefits that OOS and Active Debris Removal (ADR) can offer the satellite industry, as well as potential disadvantages for international relations between space faring nations. To gain an accurate perspective of stakeholders involved in such a process, the OOS working group held a mock hearing for OOS licensing, with members of the working group assigned to represent stakeholders. Working group members presented their cases at a simulated domestic regulatory panel, constructed of members representing various government ministers, to fully explore stakeholder views. The mock hearings explored the challenges faced by OOS and ADR entrepreneurs as well as the benefit of regulation. The groups highlighted recommendations to ensure the practicality of OOS and determine how best to encourage licensing and regulation of such activities, as summarised below. 1. The United Nations (UN) should provide regulatory guidelines for OOS and ADR. 2. Government agencies should license OOS. The Federal Aviation Administration (FAA) has taken responsibility for licensing commercial space transportation in the United States and this should be extended to OOS/ADR missions to enable short-term advancement prior to further UN regulation. 3. Government should support OOS and ADR development to ensure continued demand. This includes leading by example on government satellites and potential launch levies to enable on-going ADR funding. 4. All stakeholders should prevent weaponisation of space through transparency of operations. 5. Nations should initiate international cooperation on ADR. OOS and ADR will ensure sustainable use of satellites, particularly in LEO and GEO, for the coming decades. It is through transparency, economic stimulation and close monitoring that such endeavours will be successful

Are Predictors for Overall Mortality in COPD Patients Robust over Time?

(1) Background: Mortality is a major outcome in research on chronic obstructive pulmonary disease (COPD) with various predictors described. However, the dynamic courses of important predictors over time are disregarded. This study evaluates if longitudinal assessment of predictors provides additional information on the mortality risk in COPD when compared with a cross-sectional analysis.; (2) In a longitudinal, prospective, non-interventional cohort study including mild to very severe COPD patients, mortality and its various possible predictors were annually assessed up to seven years.; (3) Results: 297 patients were analysed. Mean (SD) age was 62.5 (7.6) years and 66% males. Mean (SD) FEV1 was 48.8 (21.4)%. A total of 105 events (35.4%) happened with a median (95% CI) survival time of 8.2 (7.2/NA) years. No evidence for a difference between the raw variable and the variable history on the predictive value for all tested variables over each visit was found. There was no evidence for changing effect estimates (coefficients) across the study visits due to the longitudinal assessment; (4) Conclusions: We found no evidence that predictors of mortality in COPD are time dependent. This implies that cross-sectional measured predictors show robust effect estimates over time and multiple assessments seem not to change the predictive value of the measure