Income effects of Federal Reserve liquidity facilities

One of the chief actions taken by the Federal Reserve in response to the financial crisis was the introduction or expansion of facilities designed to provide liquidity to the funding markets. A study of the programs suggests that the liquidity facilities generated $20 billion in interest and fee income between August 2007 and December 2009, or$13 billion after taking into account the estimated $7 billion cost of funds. Moreover, the Fed took important steps to limit the credit exposure it incurred in connection with the facilities.Federal Reserve System ; Liquidity (Economics) ; Bank liquidity ; Treasury bills ; Federal Reserve banks - Profits

Understanding the effects of decompaction maintenance on the infill state and play performance of third-generation artificial grass pitches

Third generation artificial grass pitches have been observed to get harder over time. The maintenance technique of rubber infill decompaction is intended to help slow, or reverse, this process. At present, little is understood about either the science of the infill compaction process or the efficacy of decompaction maintenance. The objective of this study was to measure the changes in rubber infill net bulk density, force reduction (impact absorption) and vertical ball rebound under various levels of compactive effort in controlled laboratory-based testing. The assessments were repeated after the systems had been raked to simulate the decompaction maintenance techniques. These tests defined the limits of compaction (loose to maximally compacted) in terms of the change in rubber infill net bulk density, force reduction and vertical ball rebound. Site testing was also undertaken at four third generation pitches immediately pre and post decompaction, to determine the measurable effects in the less well controlled field environment. Rubber infill net bulk density was found to increase as compactive effort increased, resulting in increased hardness. Decompacting the surface was found to approximately fully reverse these effects. In comparison, the site measurements demonstrated similar but notably smaller magnitudes of change following the decompaction process suggesting that the field state pre and post decompaction did not reach the extremes obtained in the laboratory. The findings suggest that rubber infill net bulk density is an important parameter influencing the hardness of artificial grass and that decompactions can be an effective method to reverse compaction related hardness changes

Artificial grass: a longitudinal study on ball roll and free pile height

Ball roll is seen as one of the first criterion which cause artificial grass pitches to fail performance standards. Previous research has demonstrated that the ball roll distance increased after a seven-year period. However, there is a lack of understanding in the mechanisms causing the ball roll distance to increase with time. During this study, the ball roll distance and free pile height were measured over a twelve-month period on an indoor pitch. The aim was to evaluate the early-life pitch performance and to determine if a correlation existed between ball roll distance and free pile height. The indoor environment protected the measurements from the confounding effects of wind and precipitation, providing a controlled environment in which to assess the effects of mechanical wear from player usage on both ball roll and free pile height. There was a general trend for the ball roll distance to increase and the free pile height to reduce with time. There was a strong, negative correlation (R= -0.967) between ball roll distance and free pile height. The ball roll distance increased above the FIFA 2* limit within the first twelve months of pitch life, however intervening drag brushing the surface was found to reduce ball roll distance to within the requirements, signifying the importance of regular drag brushing. Significant spatial variation (P<0.001) existed in ball roll and free pile height between high use and low use areas of the pitch. The study provides strong evidence on the effects of free pile height on the ball roll distance, indicating that pitch owners need effective maintenance to ensure the carpet pile remains upright to maintain ball roll distance to meet performance standards

Artificial grass: a longitudinal study on ball roll and free pile height

Ball roll is seen as one of the first criterion which cause artificial grass pitches to fail performance standards. Previous research has demonstrated that the ball roll distance increased after a seven-year period. However, there is a lack of understanding in the mechanisms causing the ball roll distance to increase with time. During this study, the ball roll distance and free pile height were measured over a twelve-month period on an indoor pitch. The aim was to evaluate the early-life pitch performance and to determine if a correlation existed between ball roll distance and free pile height. The indoor environment protected the measurements from the confounding effects of wind and precipitation, providing a controlled environment in which to assess the effects of mechanical wear from player usage on both ball roll and free pile height. There was a general trend for the ball roll distance to increase and the free pile height to reduce with time. There was a strong, negative correlation (R= -0.967) between ball roll distance and free pile height. The ball roll distance increased above the FIFA 2* limit within the first twelve months of pitch life, however intervening drag brushing the surface was found to reduce ball roll distance to within the requirements, signifying the importance of regular drag brushing. Significant spatial variation (P<0.001) existed in ball roll and free pile height between high use and low use areas of the pitch. The study provides strong evidence on the effects of free pile height on the ball roll distance, indicating that pitch owners need effective maintenance to ensure the carpet pile remains upright to maintain ball roll distance to meet performance standards

Aromatase Is a Direct Target of FOXL2: C134W in Granulosa Cell Tumors via a Single Highly Conserved Binding Site in the Ovarian Specific Promoter

BACKGROUND: Granulosa cell tumors (GCT) of the ovary often express aromatase and synthesize estrogen, which in turn may influence their progression. Recently a specific point mutation (C134W) in the FOXL2 protein was identified in >94% of adult-type GCT and it is likely to contribute to their development. A number of genes are known to be regulated by FOXL2, including aromatase/CYP19A1, but it is unclear which are direct targets and whether the C134W mutation alters their regulation. Recently, it has been reported that FOXL2 forms a complex with steroidogenic factor 1 (SF-1) which is a known regulator of aromatase in granulosa cells. METHODOLOGY/PRINCIPAL FINDINGS: In this work, the human GCT-derived cell lines KGN and COV434 were heterozygous and wildtype for the FOXL2:C134W mutation, respectively. KGN had abundant FOXL2 mRNA expression but it was not expressed in COV434. Expression of exogenous FOXL2:C134W in COV434 cells induced higher expression of a luciferase reporter for the ovarian specific aromatase promoter, promoter II (PII) (-516bp) than expression of wildtype FOXL2, but did not alter induction of a similar reporter for the steroidogenic acute regulatory protein (StAR) promoter (-1300bp). Co-immunoprecipitation confirmed that FOXL2 bound SF-1 and that it also bound its homologue, liver receptor homologue 1 (LRH-1), however, the C134W mutation did not alter these interactions or induce a selective binding of the proteins. A highly conserved putative binding site for FOXL2 was identified in PII. FOXL2 was demonstrated to bind the site by electrophoretic mobility shift assays (EMSA) and site-directed mutagenesis of this element blocked its differential induction by wildtype FOXL2 and FOXL2:C134W. CONCLUSIONS/SIGNIFICANCE: These findings suggest that aromatase is a direct target of FOXL2:C134W in adult-type GCT via a single distinctive and highly conserved binding site in PII and therefore provide insight into the pathogenic mechanism of this mutation

Pollen exposure and hospitalization due to asthma exacerbations: daily time series in a European city.

Exposure to pollen can contribute to increased hospital admissions for asthma exacerbation. This study applied an ecological time series analysis to examine associations between atmospheric concentrations of different pollen types and the risk of hospitalization for asthma in London from 2005 to 2011. The analysis examined short-term associations between daily pollen counts and hospital admissions in the presence of seasonal and long-term patterns, and allowed for time lags between exposure and admission. Models were adjusted for temperature, precipitation, humidity, day of week, and air pollutants. Analyses revealed an association between daily counts (continuous) of grass pollen and adult hospital admissions for asthma in London, with a 4-5-day lag. When grass pollen concentrations were categorized into Met Office pollen 'alert' levels, 'very high' days (vs. 'low') were associated with increased admissions 2-5 days later, peaking at an incidence rate ratio of 1.46 (95%, CI 1.20-1.78) at 3 days. Increased admissions were also associated with 'high' versus 'low' pollen days at a 3-day lag. Results from tree pollen models were inconclusive and likely to have been affected by the shorter pollen seasons and consequent limited number of observation days with higher tree pollen concentrations. Future reductions in asthma hospitalizations may be achieved by better understanding of environmental risks, informing improved alert systems and supporting patients to take preventive measures

Transgenic amplification of glucocorticoid action in adipose tissue causes high blood pressure in mice

Obesity is closely associated with the metabolic syndrome, a combination of disorders including insulin resistance, diabetes, dyslipidemia, and hypertension. A role for local glucocorticoid reamplification in obesity and the metabolic syndrome has been suggested. The enzyme 11β-hydroxysteroid dehydrogenase type 1 (11β-HSD1) regenerates active cortisol from inactive 11-keto forms, and aP2-HSD1 mice with relative transgenic overexpression of this enzyme in fat cells develop visceral obesity with insulin resistance and dyslipidemia. Here we report that aP2-HSD1 mice also have high arterial blood pressure (BP). The mice have increased sensitivity to dietary salt and increased plasma levels of angiotensinogen, angiotensin II, and aldosterone. This hypertension is abolished by selective angiotensin II receptor AT-1 antagonist at a low dose that does not affect BP in non-Tg littermates. These findings suggest that activation of the circulating renin-angiotensin system (RAS) develops in aP2-HSD1 mice. The long-term hypertension is further reflected by an appreciable hypertrophy and hyperplasia of the distal tubule epithelium of the nephron, resembling salt-sensitive or angiotensin II–mediated hypertension. Taken together, our findings suggest that overexpression of 11β-HSD1 in fat is sufficient to cause salt-sensitive hypertension mediated by an activated RAS. The potential role of adipose 11β-HSD1 in mediating critical features of the metabolic syndrome extends beyond obesity and metabolic complications to include the most central cardiovascular feature of this disorder