Term Rates, Multicurve Term Structures and Overnight Rate Benchmarks: a Roll-Over Risk Approach

Modelling the risk that a financial institution may not be able to roll over its debt at the market reference rate, the so–called “roll–over risk”, we construct a model framework for the dynamics of reference term rates (e.g., LIBOR) and their spread vis–à–vis benchmarks based on overnight reference rates, e.g., rates implied by overnight index swaps (OIS). In this framework, different interest rate term structures are endogenously generated for each tenor, that is, a different term structure for each choice of the length of the interest rate accrual period, be it overnight (e.g., OIS), three–month LIBOR, six–month LIBOR, etc. A concrete model instance in this framework can be calibrated simultaneously to available market instruments at a particular point in time, but more importantly, we explicitly obtain dynamics of term rates such as LIBOR. Thus models in our framework are amenable to econometric estimation. For a model class based on affine dynamics, we conduct an empirical analysis on EUR data for OIS, interest–rate swaps, basis swaps and credit default swaps. Our model achieves a better fit to time series data than other models proposed in prior literature. We find that credit risk typically contributes only about 30% of the IBOR/OIS spread, with the balance of the spread due to the funding liquidity component of roll–over risk. Looking ahead, we show that, even if credit risk is entirely mitigated by repo transactions, the presence of roll–over risk confounds attempts to obtain term rates from overnight rate benchmarks. As various jurisdictions transition away from panel–based term rate benchmarks towards transaction–based overnight ones (such as SOFR in the United States), the framework presented in this paper thus provides important insights into some of the consequences of this transition

MOD: A novel machine-learning optimal-filtering method for accurate and efficient detection of subthreshold synaptic events in vivo

Background: To understand information coding in single neurons, it is necessary to analyze subthreshold synaptic events, action potentials (APs), and their interrelation in different behavioral states. However, detecting excitatory postsynaptic potentials (EPSPs) or currents (EPSCs) in behaving animals remains challenging, because of unfavorable signal-to-noise ratio, high frequency, fluctuating amplitude, and variable time course of synaptic events. New method: We developed a method for synaptic event detection, termed MOD (Machine-learning Optimal-filtering Detection-procedure), which combines concepts of supervised machine learning and optimal Wiener filtering. Experts were asked to manually score short epochs of data. The algorithm was trained to obtain the optimal filter coefficients of a Wiener filter and the optimal detection threshold. Scored and unscored data were then processed with the optimal filter, and events were detected as peaks above threshold. Results: We challenged MOD with EPSP traces in vivo in mice during spatial navigation and EPSC traces in vitro in slices under conditions of enhanced transmitter release. The area under the curve (AUC) of the receiver operating characteristics (ROC) curve was, on average, 0.894 for in vivo and 0.969 for in vitro data sets, indicating high detection accuracy and efficiency. Comparison with existing methods: When benchmarked using a (1 − AUC)−1 metric, MOD outperformed previous methods (template-fit, deconvolution, and Bayesian methods) by an average factor of 3.13 for in vivo data sets, but showed comparable (template-fit, deconvolution) or higher (Bayesian) computational efficacy. Conclusions: MOD may become an important new tool for large-scale, real-time analysis of synaptic activity

Evaluation of the G8 Screening Tool in Older Patients with Cancer: A Retrospective Analysis

Aim: The aims of this study were to evaluate the results of the Geriatric 8 (G8) screening in patients aged 75 years and over. Findings: Of 2,294 patients screened, 177 were ≥ 75 years. 120 patients (68%) were vulnerable as defined by a G8 score ≤ 14. Vulnerable patients showed worse outcomes than fit patients did. In binary logistic regression modeling, the G8 domains of nutritional intake and health status were predictive of hospitalization and of death, when controlling for all other variables. Message: The G8 screening is applicable and can discriminate between fit and vulnerable patients in oncology. Prospective use in treatment decisions might improve care for geriatric cancer patients Purpose: To evaluate the results of the Geriatric 8 (G8) screening in patients aged 75 years and over. Methods: In this retrospective single-center study, we screened the medical records of 2294 patients referred to the Department for Medical Oncology in St. Gallen, a tertiary hospital in Switzerland, over a period of 29 days. For each patient aged 75 and older, the responsible oncologist completed the G8 questionnaire. The cohort was followed to obtain data on patient outcomes for the 4 months following the completion of the G8 assessment. Patients' charts were reviewed following a standardized approach. Information regarding given anticancer treatment, anticancer toxicity, date and reason for inpatient admission, date of inpatient discharge, and date of death was documented. Data were analyzed using the Χ2 test and binary logistic regression. Results: Of 2,294 patients screened, 177 were ≥75 years. 176 G8 assessments were completed on patients with various tumor types. 152 (86%) were outpatients and 112 (64%) males. Mean age was 79.9 years (SD 4.3). 120 patients (68%) were vulnerable as defined by a G8 score ≤ 14. Vulnerable patients showed worse outcomes than fit patients did. In binary logistic regression modeling, the G8 domains of nutritional intake and health status were predictive of hospitalization and of death, when controlling for all other variables. Conclusion: The G8 screening is applicable and can discriminate between fit and vulnerable patients in oncology. Prospective use in treatment decisions might improve care for geriatric cancer patients. Keywords: Geriatric assessment; Clinical oncology; Palliative medicine; Hospitalization; Deat

Quantitative adsorbate structure determination under catalytic reaction conditions

Current methods allow quantitative local structure determination of adsorbate geometries on surfaces in ultrahigh vacuum (UHV) but are incompatible with the higher pressures required for a steady-state catalytic reactions. Here we show that photoelectron diffraction can be used to determine the structure of the methoxy and formate reaction intermediates during the steady-state oxidation of methanol over Cu(110) by taking advantage of recent instrumental developments to allow near-ambient pressure x-ray photoelectron spectroscopy. The local methoxy site differs from that under static UHV conditions, attributed to the increased surface mobility and dynamic nature of the surface under reaction conditions

Studies in Health Technology and Informatics

Background: Standards have become available to share semantically encoded vital parameters from medical devices, as required for example by personal healthcare records. Standardised sharing of biosignal data largely remains open. Objectives: The goal of this work is to explore available biosignal file format and data exchange standards and profiles, and to conceptualise end-To-end solutions. Methods: The authors reviewed and discussed available biosignal file format standards with other members of international standards development organisations (SDOs). Results: A raw concept for standards based acquisition, storage, archiving and sharing of biosignals was developed. The GDF format may serve for storing biosignals. Signals can then be shared using FHIR resources and may be stored on FHIR servers or in DICOM archives, with DICOM waveforms as one possible format. Conclusion: Currently a group of international SDOs (e.g. HL7, IHE, DICOM, IEEE) is engaged in intensive discussions. This discussion extends existing work that already was adopted by large implementer communities. The concept presented here only reports the current status of the discussion in Austria. The discussion will continue internationally, with results to be expected over the coming years

Development of a tool for palliative care needs assessment and intervention: mixed methods research at a Swiss tertiary oncology clinic.

BACKGROUND Palliative care interventions improve quality-of-life for advanced cancer patients and their caregivers. The frequency and quality of service provision could be improved by a clinical tool that helps oncology professionals to assess unmet needs for palliative care interventions and to structure the interventions delivered. This paper aims to answer the following research question: what do oncology professionals and cancer patients view as important elements in a clinical tool for assessing unmet palliative care needs? Based on the feedback from professionals and patients, we developed and refined an intervention-focused clinical tool for use in cancer care. METHODS This study used a prospective convergent mixed methods design and was carried out at a single tertiary hospital in Switzerland. Healthcare professionals participated in focus groups (n=29) and a Delphi survey (n=73). Patients receiving palliative care were interviewed (n=17). Purposive sampling was used to achieve maximal variation in participant response. Inductive content analysis and descriptive statistics were used to analyze focus group discussions, open-ended survey questions and interview data. Descriptive statistics were used for analyzing quantitative survey items and interviewee characteristics. RESULTS Focus groups and Delphi surveys showed that seven key palliative care interventions were important to oncology professionals. They also valued a tool that could be used by doctors, nurses, or other professionals. Participants did not agree about the best timepoint for assessment. Two versions of a pilot clinical tool were tested in patient interviews. Interviews highlighted the divergent patient needs that must be accommodated in clinical practice. Patients provided confirmation that a clinical tool would be helpful to them. CONCLUSIONS This paper reports on research carried out to understand what elements are most important in a tool that helps oncology professionals to identify patients' unmet needs and provide tailored palliative care interventions. This study demonstrated that professionals and patients alike are interested in a clinical tool. Responses from oncology healthcare professionals helped to identify relevant palliative care interventions, and patients provided constructive input used in designing a tool for use in clinical interactions

Development of a tool for palliative care needs assessment and intervention: mixed methods research at a Swiss tertiary oncology clinic

BACKGROUND Palliative care interventions improve quality-of-life for advanced cancer patients and their caregivers. The frequency and quality of service provision could be improved by a clinical tool that helps oncology professionals to assess unmet needs for palliative care interventions and to structure the interventions delivered. This paper aims to answer the following research question: what do oncology professionals and cancer patients view as important elements in a clinical tool for assessing unmet palliative care needs? Based on the feedback from professionals and patients, we developed and refined an intervention-focused clinical tool for use in cancer care. METHODS This study used a prospective convergent mixed methods design and was carried out at a single tertiary hospital in Switzerland. Healthcare professionals participated in focus groups (n=29) and a Delphi survey (n=73). Patients receiving palliative care were interviewed (n=17). Purposive sampling was used to achieve maximal variation in participant response. Inductive content analysis and descriptive statistics were used to analyze focus group discussions, open-ended survey questions and interview data. Descriptive statistics were used for analyzing quantitative survey items and interviewee characteristics. RESULTS Focus groups and Delphi surveys showed that seven key palliative care interventions were important to oncology professionals. They also valued a tool that could be used by doctors, nurses, or other professionals. Participants did not agree about the best timepoint for assessment. Two versions of a pilot clinical tool were tested in patient interviews. Interviews highlighted the divergent patient needs that must be accommodated in clinical practice. Patients provided confirmation that a clinical tool would be helpful to them. CONCLUSIONS This paper reports on research carried out to understand what elements are most important in a tool that helps oncology professionals to identify patients' unmet needs and provide tailored palliative care interventions. This study demonstrated that professionals and patients alike are interested in a clinical tool. Responses from oncology healthcare professionals helped to identify relevant palliative care interventions, and patients provided constructive input used in designing a tool for use in clinical interactions

Interfacial charge distributions in carbon-supported palladium catalysts

Controlling the charge transfer between a semiconducting catalyst carrier and the supported transition metal active phase represents an elite strategy for fine turning the electronic structure of the catalytic centers, hence their activity and selectivity. These phenomena have been theoretically and experimentally elucidated for oxide supports but remain poorly understood for carbons due to their complex nanoscale structure. Here, we combine advanced spectroscopy and microscopy on model Pd/C samples to decouple the electronic and surface chemistry effects on catalytic performance. Our investigations reveal trends between the charge distribution at the palladium–carbon interface and the metal’s selectivity for hydrogenation of multifunctional chemicals. These electronic effects are strong enough to affect the performance of large (~5 nm) Pd particles. Our results also demonstrate how simple thermal treatments can be used to tune the interfacial charge distribution, hereby providing a strategy to rationally design carbon-supported catalysts

Shape-dependent CO2 hydrogenation to methanol over Cu2O nanocubes supported on ZnO

The hydrogenation of CO2 to methanol over Cu/ZnO-based catalysts is highly sensitive to the surface composition and catalyst structure. Thus, its optimization requires a deep understanding of the influence of the pre-catalyst structure on its evolution under realistic reaction conditions, including the formation and stabilization of the most active sites. Here, the role of the pre-catalyst shape (cubic vs spherical) in the activity and selectivity of ZnO-supported Cu nanoparticles was investigated during methanol synthesis. A combination of ex situ, in situ, and operando microscopy, spectroscopy, and diffraction methods revealed drastic changes in the morphology and composition of the shaped pre-catalysts under reaction conditions. In particular, the rounding of the cubes and partial loss of the (100) facets were observed, although such motifs remained in smaller domains. Nonetheless, the initial pre-catalyst structure was found to strongly affect its subsequent transformation in the course of the CO2 hydrogenation reaction and activity/selectivity trends. In particular, the cubic Cu particles displayed an increased activity for methanol production, although at the cost of a slightly reduced selectivity when compared to similarly sized spherical particles. These findings were rationalized with the help of density functional theory calculations.Peer ReviewedPostprint (published version