Complementary Macroprudential Regulation of Nonbank Entities and Activities

In this blog entry, the authors describe their forthcoming law review article in Southern California Law Review

Comment of Legal Scholars on Authority To Require Supervision and Regulation of Certain Nonbank Financial Companies, Financial Stability Oversight Council RIN 4030-AA00

Professor McCoy coauthored this comment on a proposal by the Financial Stability Oversight Council to overhaul systemic risk regulation for nonbank financial firms

Regulating Entities and Activities: Complementary Approaches to Nonbank Systemic Risk

The recent financial crisis demonstrated that, contrary to longstanding regulatory assumptions, nonbank financial firms—such as investment banks and insurance companies—can propagate systemic risk throughout the financial system. After the crisis, policymakers in the United States and abroad developed two different strategies for dealing with nonbank systemic risk. The first strategy seeks to regulate individual nonbank entities that officials designate as being potentially systemically important. The second approach targets financial activities that could create systemic risk, irrespective of the types of firms that engage in those transactions. In the last several years, domestic and international policymakers have come to view these two strategies as substitutes, largely abandoning entity-based designations in favor of activities-based approaches. This Article argues that this trend is deeply misguided because entity- and activities-based approaches are complementary tools that are each essential for effectively regulating nonbank systemic risk. Eliminating an entity-based approach to nonbank systemic risk—either formally or through onerous procedural requirements—would expose the financial system to the same risks that it experienced in 2008 as a result of distress at nonbanks like AIG, Bear Stearns, and Lehman Brothers. This conclusion is especially salient in the United States, where jurisdictional fragmentation undermines the capacity of financial regulators to implement an effective activities-based approach. Significant reforms to the U.S. regulatory framework are necessary, therefore, before an activities-based approach can meaningfully complement domestic entity-based systemic risk regulation

Gaze characteristics of freely walking blowflies Calliphora vicina in a goal-directed task

Kress D, Egelhaaf M. Gaze characteristics of freely walking blowflies Calliphora vicina in a goal-directed task. Journal of Experimental Biology. 2014;217(18):3209-3220.In contrast to flying flies, walking flies experience relatively strong rotational gaze shifts, even during overall straight phases of locomotion. These gaze shifts are caused by the walking apparatus and modulated by the stride frequency. Accordingly, even during straight walking phases, the retinal image flow is composed of both translational and rotational optic flow, which might affect spatial vision, as well as fixation behavior. We addressed this issue for an orientation task where walking blowflies approached a black vertical bar. The visual stimulus was stationary, or either the bar or the background moved horizontally. The stride-coupled gaze shifts of flies walking toward the bar had similar amplitudes under all visual conditions tested. This finding indicates that these shifts are an inherent feature of walking, which are not even compensated during a visual goal fixation task. By contrast, approaching flies showed a frequent stop-and-go behavior that was affected by the stimulus conditions. As sustained image rotations may impair distance estimation during walking, we propose a hypothesis that explains how rotation-independent translatory image flow containing distance information can be determined. The algorithm proposed works without requiring differentiation at the behavioral level of the rotational and translational flow components. By contrast, disentangling both has been proposed to be necessary during flight. By comparing the retinal velocities of the edges of the goal, its rotational image motion component can be removed. Consequently, the expansion velocity of the goal and, thus, its proximity can be extracted, irrespective of distance-independent stride-coupled rotational image shifts

Impact of stride-coupled gaze shifts of walking blowflies on the neuronal representation of visual targets

Kress D, Egelhaaf M. Impact of stride-coupled gaze shifts of walking blowflies on the neuronal representation of visual targets. Frontiers in Behavioral Neuroscience. 2014;8:307.During locomotion animals rely heavily on visual cues gained from the environment to guide their behavior. Examples are basic behaviors like collision avoidance or the approach to a goal. The saccadic gaze strategy of flying flies, which separates translational from rotational phases of locomotion, has been suggested to facilitate the extraction of environmental information, because only image flow evoked by translational self-motion contains relevant distance information about the surrounding world. In contrast to the translational phases of flight during which gaze direction is kept largely constant, walking flies experience continuous rotational image flow that is coupled to their stride-cycle. The consequences of these self-produced image shifts for the extraction of environmental information are still unclear. To assess the impact of stride-coupled image shifts on visual information processing, we performed electrophysiological recordings from the HSE cell, a motion sensitive wide-field neuron in the blowfly visual system. This cell has been concluded to play a key role in mediating optomotor behavior, self-motion estimation and spatial information processing. We used visual stimuli that were based on the visual input experienced by walking blowflies while approaching a black vertical bar. The response of HSE to these stimuli was dominated by periodic membrane potential fluctuations evoked by stride-coupled image shifts. Nevertheless, during the approach the cell’s response contained information about the bar and its background. The response components evoked by the bar were larger than the responses to its background, especially during the last phase of the approach. However, as revealed by targeted modifications of the visual input during walking, the extraction of distance information on the basis of HSE responses is much impaired by stride-coupled retinal image shifts. Possible mechanisms that may cope with these stride-coupled responses are discussed

Design and characterization of terahertz CORPS beam forming networks

This work reviews the design and applicability of beam-forming networks based on Coherently Radiating Periodic Structures (CORPS-BFN) at Terahertz (THz) frequency bands. These versatile networks offer two operation modes: a continuous beam steering – feeding an antenna array with a linearly progressive phase distribution – using a reduced number of phase controls; or a multi-beam operation, generating independent, overlapped beams. These networks are built upon the concatenation of power combiners/dividers (PCDs) with isolated outputs. The isolation is provided by monolithically integrated resistors, implemented with Ti/TiO thin films for the first time. In this work, a planar prototype of a (inputs/outputs) microstrip CORPS-BFN for operation in the WR3.4/WM-864 band (220–330 GHz) on a thin 50 m Indium Phosphide (InP) substrate is designed, fabricated, and characterized. The measured S-parameters show a reflection coefficient better than -15 dB and an insertion loss between 1.6 and 3.2 dB in the whole band. In addition, an isolation better than 20 dB between the input ports has been measured. An overall remarkable agreement is observed between the measurements and the simulations. Last, the applications, scalability and efficiency of this type of networks at the targeted band are discussed in detail.This research was funded partially by the FPU Program from the Spanish Ministry of Science and Innovation, grant No. FPU18/00013, and project PID2019-109984RB-C43 (FRONT-MiliRAD); by the Deutsche Forschungs-Gemeinschaft (DFG, German Research Foundation) under Project 287022738-CRC/TRR 196 MARIE (Projects C02, C05, C06, C07 and S03); by BMBF (smartBeam, 6GEM grant No. EFRE-0400215, grant No.16KISK017 and grant No.16KISK039) and by the NRW/EFRE Terahertz-Integrationszentrum (Open6GHub and THz.NRW). Open Access funding provided by Universidad Pública de Navarra

The many faces of diabetes: a critical multimodal analysis of diabetes pages on Facebook

Health communication published on Facebook has become a popular source of medical information and large organisations now utilise Facebook to disseminate multimodal representations of health and illness. Drawing on a sample of posts to two popular diabetes-related Facebook pages, this paper aims to examine the multimodal representation of people with diabetes and consider the implications of this emergent context of health communication. These posts draw upon visual and linguistic features of social intimacy to synthesise personal relationships with their audiences and to foster user involvement with their authoring organisations. The promissory vision of living well with diabetes that predominates on these pages is thus also designed to serve the agendas of organisations who are dependent on user participation to generate revenue. Keyword

Exploratory Survey on European Consumer and Stakeholder Attitudes towards Alternatives for Surgical Castration of Piglets

Simple SummaryIn many countries, surgical castration of piglets without pain relief or anaesthesia is still common practice. Castration is performed to minimise the incidence of boar taint, a bad taste (urine/fecal like), typically present in the meat of 5 to 10% of uncastrated male pigs. It also helps to avoid aggressive and sexual behaviour. For animal welfare reasons, alternatives are being considered, and in some countries, an alternative is already practiced. One option is to perform surgical castration with anaesthesia and relieve pain. A second option is to produce male pigs without castration, which requires detection of tainted carcasses in the slaughter house. A third option is to apply immunocastration: by a two-fold injection of a vaccine, the testes function is inhibited, which reduces boar-like behaviour and avoids boar taint. In this study, we evaluated the acceptability of each of these methods in 16 countries in Europe. Of the 4 presented options, the practice of surgical castration was least accepted (32%), whilst there was a high acceptance of castration with anaesthesia (85%), followed by immunocastration (71%) and production of boars (49%). The developed questionnaire and infographic can be used in future studies to further gain insights in consumer and stakeholder attitudes on this topic.Surgical castration of piglets without pain relief is still common practice in many countries. Possible alternatives for surgical castration are application of pain relief or anaesthesia or production of boars (entire males) and immunocastrates. Each of these alternatives faces advantages and disadvantages which may result in different citizen attitudes and consumers acceptability. Understanding which practice is acceptable to whom and why may further stimulate implementation. Consumer (n = 3251) and stakeholder (n = 1027) attitudes towards surgical castration without pain relief, surgical castration with anaesthesia, immunocastration, and production of boars were surveyed from April to June 2020 via an online questionnaire in 16 countries (>175 respondents per country). Surgical castration without pain relief was separated from each of the alternatives due to animal welfare and showed the lowest acceptability (32%). Within the alternatives, a further partitioning between the alternatives was based on perceived quality and food safety, with an acceptance of 85% for applying anaesthesia, 71% for immunocastration, and 49% for boar production. Differences depending on professional involvement and familiarity with agriculture could be observed, mainly for the acceptance of surgical castration without anaesthesia, immunocastration, and boars. Castration with anaesthesia was highly accepted by all types of respondents

Teaching English as a Non-Imperial Language in an Underprivileged Public School in Spain

This article summarizes the processes and findings of a 2-year collaborative action research (CAR) project that analyzed and aimed to counteract some of the most negative educational effects of English linguistic imperialism in the field of English language teaching (ELT) and, more concretely, in the context of English as a foreign language education in Spain. The CAR investigated the ramifications of this phenomenon in a primary school located in one of the most disadvantaged neighborhoods in the city of València. The pedagogical alternative it embraced in order to reverse the underlying tenets of ELT under present-day neoliberal imperialism consisted in combining art and multimodality through a series of projects; a variety of qualitative strategies were used (classroom observation, journal entries, recordings, student interviews, photographs, etc.) to assess its effects. Evidence showed that the three projects developed during the CAR succeeded in offering a worthwhile educational experience and hence a valuable critical alternative to mainstream ELT, one that brought about a change in the way the socially underprivileged students related to the English language

Gaze Strategy in the Free Flying Zebra Finch (Taeniopygia guttata)

Fast moving animals depend on cues derived from the optic flow on their retina. Optic flow from translational locomotion includes information about the three-dimensional composition of the environment, while optic flow experienced during a rotational self motion does not. Thus, a saccadic gaze strategy that segregates rotations from translational movements during locomotion will facilitate extraction of spatial information from the visual input. We analysed whether birds use such a strategy by highspeed video recording zebra finches from two directions during an obstacle avoidance task. Each frame of the recording was examined to derive position and orientation of the beak in three-dimensional space. The data show that in all flights the head orientation was shifted in a saccadic fashion and was kept straight between saccades. Therefore, birds use a gaze strategy that actively stabilizes their gaze during translation to simplify optic flow based navigation. This is the first evidence of birds actively optimizing optic flow during flight