Bank response to capital requirements: Theory and Indian evidence

The paper discusses the theory of how banks' respond to risk-based capital standards and conducts an empirical estimation to ascertain the response of banks to capital requirements in the Indian contextcapital; banking; India

Regulating Market Risks in Banks: A Comparison of Alternate Regulatory Regimes

Regulators have traditionally used simple models to measure the capital adequacy of banks. The growing internationalisation and universalisation of banking operations have meant that the same is no longer possible, as banks face increasing, and increasingly opaque, market risk. The significance of market risk has also been acknowledged in the New Capital Accord enunciated by the Basel Committee in 1999. The focus of the paper is on market risk, that is, any market related factor that affects the value of a position in the financial instrument or a portfolio of instruments. As it stands at present, the three commonly used approaches to regulating market risks in banks include the building block approach, internal model approach and precommitment approach. The paper evaluates the pros and cons of the various approaches and concludes with a discussion of the applicability of these models in the Indian context.VaR; banking; India; market risk

The effect of Wilson line moduli on CP-violation by soft supersymmetry breaking terms

The CP-violating phases in the soft supersymmetry-breaking sector in orbifold compactifications with a continuous Wilson line are investigated. In this case the modular symmetry is the Siegel modular group $Sp(4,Z)$ of genus two. In particular, we study the case that the hidden sector non-perturbative superpotential is determined by the Igusa cusp form ${\cal C}_{12}$ of modular weight 12. The effect of large non-perturbative corrections to the dilaton K\"ahler potential on the resulting CP-violating phases is also investigated.Comment: LaTeX file, 12 pages plus 7 figures, to appear in Phys.Lett.

One Loop Beta Functions in Topologically Massive Gravity

We calculate the running of the three coupling constants in cosmological, topologically massive 3d gravity. We find that \nu, the dimensionless coefficient of the Chern-Simons term, has vanishing beta function. The flow of the cosmological constant and Newton's constant depends on \nu, and for any positive \nu there exist both a trivial and a nontrivial fixed point.Comment: 44 pages, 16 figure

Asymmetric Non-Abelian Orbifolds and Model Building

The rules for the free fermionic string model construction are extended to include general non-abelian orbifold constructions that go beyond the real fermionic approach. This generalization is also applied to the asymmetric orbifold rules recently introduced. These non-abelian orbifold rules are quite easy to use. Examples are given to illustrate their applications.Comment: 30 pages, Revtex 3.

Comment on the Generation Number in Orbifold Compactifications

There has been some confusion concerning the number of $(1,1)$-forms in orbifold compactifications of the heterotic string in numerous publications. In this note we point out the relevance of the underlying torus lattice on this number. We answer the question when different lattices mimic the same physics and when this is not the case. As a byproduct we classify all symmetric $Z_N$-orbifolds with $(2,2)$ world sheet supersymmetry obtaining also some new ones.Comment: 28 pages, 9 figures not included, available in postscript at reques

Kaluza-Klein States versus Winding States: Can Both Be Above the String Scale?

When closed strings propagate in extra compactified dimensions, a rich spectrum of Kaluza-Klein states and winding states emerges. Since the masses of Kaluza-Klein states and winding states play a reciprocal role, it is often believed that either the lightest Kaluza-Klein states or the lightest winding states must be at or below the string scale. In this paper, we demonstrate that this conclusion is no longer true for compactifications with non-trivial shape moduli. Specifically, we demonstrate that toroidal compactifications exist for which all Kaluza-Klein states as well as all winding states are heavier than the string scale. This observation could have important phenomenological implications for theories with reduced string scales, suggesting that it is possible to cross the string scale without detecting any states associated with spacetime compactification.Comment: 8 pages, LaTeX, no figure

Evidence for Non-perturbative String Symmetries

String theory appears to admit a group of discrete field transformations -- called $S$ dualities -- as exact non-perturbative quantum symmetries. Mathematically, they are rather analogous to the better-known $T$ duality symmetries, which hold perturbatively. In this talk the evidence for $S$ duality is reviewed and some speculations are presented.Comment: Error corrected and reference added; 10 pages, latex, no figures, conference Repor