The Interconnections Between the Shadow Banking System and the Regular Banking System. Evidence from the Euro Area

One of the most important lessons of the global financial crisis has been the deep interconnectedness between the shadow banking system and the regular banking system. These two systems are linked through several channels, of which one of the most important is the financing provided by regular banks to the shadow banking system and vice versa. In addition, regular banks can originate loans that are securitized. Subsequently, part of the securitized instruments may remain on the balance sheet of the originating banks or be found on the balance sheet of other regular banks and shadow banking entities. These links between the two systems can increase contagion and systemic risks, which in turn may affect financial stability. The financial crisis has acutely revealed the negative effects these interconnections can generate. The interconnections are underestimated by the available data because of the difficulties in gathering information on the euro area. Within this context, our paper tries to evaluate and analyze the interconnections between the shadow banking system and the regular banking system within the euro area, both in the pre-crisis period and currently. Finally, some measures to regulate the interconnections between these two systems are raised

Method and apparatus for eliminating luminol interference material

A method and apparatus for removing porphyrins from a fluid sample which are unrelated to the number of bacteria present in the sample and prior to combining the sample with luminol reagent to produce a light reaction is disclosed. The method involves a pre-incubation of the sample with a dilute concentration of hydrogen peroxide which inactivates the interfering soluble porphyrins. Further, by delaying taking a light measurement for a predetermined time period after combining the hydrogen peroxide-treated water sample with a luminol reagent, the luminescence produced by the reaction of the luminol reagent with ions present in the solution, being short lived, will have died out so that only porphyrins within the bacteria which have been released by rupturing the cells with the sodium hydroxide in the luminol reagent, will be measured. The measurement thus obtained can then be related to the concentration of live and dead bacteria in the fluid sample

Water monitor system: Phase 1 test report

Automatic water monitor system was tested with the objectives of assuring high-quality effluent standards and accelerating the practice of reclamation and reuse of water. The NASA water monitor system is described. Various components of the system, including the necessary sensors, the sample collection system, and the data acquisition and display system, are discussed. The test facility and the analysis methods are described. Test results are reviewed, and recommendations for water monitor system design improvement are presented

NASA JSC water monitor system: City of Houston field demonstration

A water quality monitoring system with on-line and real time operation similar to the function in a spacecraft was investigated. A system with the capability to determine conformance to future high effluent quality standards and to increase the potential for reclamation and reuse of water was designed. Although all system capabilities were not verified in the initial field trial, fully automated operation over a sustained period with only routine manual adjustments was accomplished. Two major points were demonstrated: (1) the water monitor system has great potential in water monitoring and/or process control applications; and (2) the water monitor system represents a vast improvement over conventional (grab sample) water monitoring techniques

Accelerating Missile Threat Engagement Simulations Using Personal Computer Graphics Cards

The 453rd Electronic Warfare Squadron supports on-going military operations by providing battlefield commanders with aircraft ingress and egress routes that minimize the risk of shoulder or ground-fired missile attacks on our aircraft. To determine these routes, the 453rd simulates engagements between ground-to-air missiles and allied aircraft to determine the probability of a successful attack. The simulations are computationally expensive, often requiring two-hours for a single 10-second missile engagement. Hundreds of simulations are needed to perform a complete risk assessment which includes evaluating the effectiveness of countermeasures such as flares, chaff, jammers, and missile warning systems. Thus, the need for faster simulations is acute. This research speeds up these mission critical simulations by using inexpensive commodity PC graphics cards to perform intensive image processing computations used to simulate a heat seeking missile\u27s tracking system. The innovative techniques developed in this research reduce execution time by 33% and incorporate a user-selectable fidelity feature to perform high-fidelity simulations when required. Furthermore, these image processing computations use only 5% of the available computational capacity of the graphics cards, providing a ready source of additional computational power for future simulation enhancements. Analysts can now meet shorter suspenses with more accurate products, ultimately enhancing the safety of Air Force pilots and their weapon systems. With ongoing operations in Iraq and Afghanistan, and a growing threat at home and abroad posed by the proliferation of man-portable missiles, the speed of these simulations play an important role in protecting forces and saving lives

Retrodictive states and two-photon quantum imaging

We use retrodictive quantum theory to analyse two-photon quantum imaging systems. The formalism is particularly suitable for calculating conditional probability distributions.Comment: 5 pages, 3 figure

Method for detecting coliform organisms

A method and apparatus are disclosed for determining the concentration of coliform bacteria in a sample. The sample containing the coliform bacteria is cultured in a liquid growth medium. The cultured bacteria produce hydrogen and the hydrogen is vented to a second cell containing a buffer solution in which the hydrogen dissolves. By measuring the potential change in the buffer solution caused by the hydrogen, as a function of time, the initial concentration of bacteria in the sample is determined. Alternatively, the potential change in the buffer solution can be compared with the potential change in the liquid growth medium to verify that the potential change in the liquid growth medium is produced primarily by the hydrogen gas produced by the coliform bacteria

Rapid, quantitative determination of bacteria in water

A bioluminescent assay for ATP in water borne bacteria is made by adding nitric acid to a water sample with concentrated bacteria to rupture the bacterial cells. The sample is diluted with sterile, deionized water, then mixed with a luciferase-luciferin mixture and the resulting light output of the bioluminescent reaction is measured and correlated with bacteria present. A standard and a blank also are presented so that the light output can be correlated to bacteria in the sample and system noise can be substracted from the readings. A chemiluminescent assay for iron porphyrins in water borne bacteria is made by adding luminol reagent to a water sample with concentrated bacteria and measuring the resulting light output of the chemiluminescent reaction

Retrodiction as a tool for micromaser field measurements

We use retrodictive quantum theory to describe cavity field measurements by successive atomic detections in the micromaser. We calculate the state of the micromaser cavity field prior to detection of sequences of atoms in either the excited or ground state, for atoms that are initially prepared in the excited state. This provides the POM elements, which describe such sequences of measurements.Comment: 20 pages, 4(8) figure