Transaction Banking: Respecting its role in the real economy. ECRI Policy Brief No. 6, 6 December 2013

This paper sketches the main features and issues related to recent market developments in global transaction banking (GTB), particularly in trade finance, cash management and correspondent banking. It describes the basic functioning of the GTB, its interaction with global financial markets and related implications of global regulatory developments such as Basel III. The interest in GTB has recently increased, since its low-risk profile, tendency to follow growth rates worldwide and relative independence from other financial instruments became an interesting diversification opportunity both for banks’ business models and for investors. Transaction banking has been a resilient business during the crisis, despite the reduction in world trade figures. In the post crisis period, GTB must cope with new challenges related to increased local and global regulation and the risk of inconsistency in regulatory approaches, which could negatively impact the global network and increased competition by new market entrants. Increased sophistication of corporate clients, as well as the pressure to develop and adopt technological innovations more quickly than other areas of banking continues to impact the business. The future of the industry closely depends on its ability to adjust to complex regulatory developments while at the same time being able to operate a global and efficient network

Collateral and Credit Rationing. The role of collateral in explaining and remediating the limited flow of credit to households and SMEs. ECRI Policy Brief No. 7, February 2014

European-wide data concerning both companies and households indicate that the credit rationing phenomenon, which has been predicted by theory, does in fact occur to a significant degree in the European credit market. Among SMEs, micro companies are most vulnerable and the current economic crisis has only made these concerns more pressing. Top-down use of the monetary transmission mechanism alone is insufficient to counter the problem. The other solution consists of a bottom-up, microeconomic stimulation of lending transactions, by focusing on collateral and guarantees. The data confirm the high importance that lenders – especially individual households and micro companies – attach to collateral and guarantees when making their lending decisions. As a consequence, we would argue that those parts of the law governing security interests and guarantees should be one of the primary targets for government policy aimed at improving credit flows, especially in avoiding a conflict between consumer protection measures and laws on surety and guarantees. This policy brief firstly aims to give an overview of the problem of credit rationing and to show that low-income households and SMEs are most concerned by the phenomenon. Focusing solely on loans as a way of financing and on the issues related to access to finance by micro and small companies as well households, it then sketches possible solutions focused on guarantees. This paper brings together data from the Eurosystem Household Finance and Consumption survey (HFCS), Eurostat, and both the latest wave of the extended biennial EC/ECB Survey on the access to finance of SMEs (EC/ECB SAFE 2013) and the latest wave of the smaller semi-annual ECB SAFE Survey, covering the period between October 2012 and March 2013

Supervisory advanced control of glass melters and forehearths by the GS expert system

Advanced control is one of the most important tools to increase glass quality and production in existing furnaces. This paper describes a method of how advanced control has been applied in glass industry. Practical experience of an advanced control system called EXPERTSystem II is shown and explained. The present state of control in the glass industry is relatively poor compared to other chemical industries, therefore the potential increase in benefits by advanced control systems is very high for the glass production system

Gedenken denken im terrain vague: ein postkonstruktivistischer Weg für die Erinnerungsforschung

Wie können wir Gedenktage als kollektive und hochgradig politische Erinnerungsanlässe untersuchen? Während das Forschungsfeld bisweilen durch unproduktive Polarisierungen gekennzeichnet ist wie die zwischen Akteur und Struktur, Ideen und Materie bzw. Realismus und Konstruktivismus, bahnt der Beitrag einem spezifischen Denken dazwischen den Weg. Hierfür werden die ritual- und gedächtnistheoretischen Arbeiten von Jan und Aleida Assmann mit Michel Foucaults genealogischem Denken und dessen Machtanalytik kontrastiert. Über Ernst Cassirer und Roland Barthes gelangt der Beitrag zu einem postkonstruktivistischen Verständnis von kollektivem Gedenken als Inszenierung – unter dem ›Druck der Realität‹ (Barthes)

Sialomes and Mialomes: A Systems-Biology View of Tick Tissues and Tick-Host Interactions

Tick saliva facilitates tick feeding and infection of the host. Gene expression analysis of tick salivary glands and other tissues involved in host-pathogen interactions has revealed a wide range of bioactive tick proteins. Transcriptomic analysis has been a milestone in the field and has recently been enhanced by next-generation sequencing (NGS). Furthermore, the application of quantitative proteomics to ticks with unknown genomes has provided deeper insights into the molecular mechanisms underlying tick hematophagy, pathogen transmission, and tick-host-pathogen interactions. We review current knowledge on the transcriptomics and proteomics of tick tissues from a systems-biology perspective and discuss future challenges in the field

Scan Test Cost and Power Reduction Through Systematic Scan Reconfiguration

This paper presents segmented addressable scan (SAS), a test architecture that addresses test data volume, test application time, test power consumption, and tester channel requirements using a hardware overhead of a few gates per scan chain. Using SAS, this paper also presents systematic scan reconfiguration, a test data compression algorithm that is applied to achieve 10times to 40 times compression ratios without requiring any information from the automatic-test-pattern-generation tool about the unspecified bits. The architecture and the algorithm were applied to both single stuck as well as transition fault test set

Functional characterisation of a nicotinic acetylcholine receptor alpha subunit from the brown dog tick, Rhipicephalus sanguineus

Open Access funded by Biotechnology and Biological Sciences Research Council Under a Creative Commons license This work was supported by a Biotechnology and Biological Sciences Research Council (UK) Industrial CASE studentship award (BBSSM200411428) to K.L. with co-funding from Pfizer Animal Health, UK. We thank Dr. Andy Ball for help with rearing of ticks.Peer reviewedPublisher PD

Scan Test Cost and Power Reduction Through Systematic Scan Reconfiguration

This paper presents segmented addressable scan (SAS), a test architecture that addresses test data volume, test application time, test power consumption, and tester channel requirements using a hardware overhead of a few gates per scan chain. Using SAS, this paper also presents systematic scan reconfiguration, a test data compression algorithm that is applied to achieve 10times to 40 times compression ratios without requiring any information from the automatic-test-pattern-generation tool about the unspecified bits. The architecture and the algorithm were applied to both single stuck as well as transition fault test set

Dual role of B7 costimulation in obesity-related nonalcoholic steatohepatitis and metabolic dysregulation

The low-grade inflammatory state present in obesity contributes to obesity-related metabolic dysregulation, including nonalcoholic steatohepatitis (NASH) and insulin resistance. Intercellular interactions between immune cells or between immune cells and hepatic parenchymal cells contribute to the exacerbation of liver inflammation and steatosis in obesity. The costimulatory molecules, B7.1 and B7.2, are important regulators of cell-cell interactions in several immune processes; however, the role of B7 costimulation in obesity-related liver inflammation is unknown. Here, diet-induced obesity (DIO) studies in mice with genetic inactivation of both B7.1 and B7.2 (double knockout; DKO) revealed aggravated obesity-related metabolic dysregulation, reduced insulin signalling in the liver and adipose tissue (AT), glucose intolerance, and enhanced progression to steatohepatitis resulting from B7.1/B7.2 double deficiency. The metabolic phenotype of B7.1/B7.2 double deficiency upon DIO was accompanied by increased hepatic and AT inflammation, associated with largely reduced numbers of regulatory T cells (Tregs) in these organs. In order to assess the role of B7 costimulation in DIO in a non-Treg-lacking environment, we performed antibody (Ab)-mediated inhibition of B7 molecules in wild-type mice in DIO. Antibody-blockade of both B7.1 and B7.2 improved the metabolic phenotype of DIO mice, which was linked to amelioration of hepatic steatosis and reduced inflammation in liver and AT. Conclusion: Our study demonstrates a dual role of B7 costimulation in the course of obesity-related sequelae, particularly NASH. The genetic inactivation of B7.1/B7.2 deteriorates obesity-related liver steatosis and metabolic dysregulation, likely a result of the intrinsic absence of Tregs in these mice, rendering DKO mice a novel murine model of NASH. In contrast, inhibition of B7 costimulation under conditions where Tregs are present may provide a novel therapeutic approach for obesity-related metabolic dysregulation and, especially, NAS