95,528 research outputs found

    A specialized inventory problem in banks: optimizing retail sweeps

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    Deposits held at Federal Reserve Banks are an essential input to the business activity of most depository institutions in the United States. Managing these deposits is an important and complex inventory problem, for two reasons. First, Federal Reserve regulations require that depository institutions hold certain amounts of such deposits at the Federal Reserve Banks to satisfy statutory reserve requirements against customers* transaction accounts (demand deposits and other checkable deposits). Second, some inventory of such deposits is essential for banks to operate one of their core lines of business: furnishing payment services to households and firms. including wire transfers, ACH payments, and check clearing settlement. Because the Federal Reserve does not pay interest on such deposits used to satisfy statutory reserve requirements, banks seek to minimize their inventory of such deposits. In 1994, the banking industry introduced a new inventory management tool for such deposits, the retail deposit sweep program, which avoids the statutory requirement by reclassifying transaction deposits as savings deposits. In this analysis, we examine two algorithms for operating such sweeps programs within the limits of Federal Reserve regulations.Banks and banking ; Retail trade

    Borel singularities at small x

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    D.I.S. at small Bjorken xx is considered within the dipole cascade formalism. The running coupling in impact parameter space is introduced in order to parametrize effects that arise from emission of large size dipoles. This results in a new evolution equation for the dipole cascade. Strong coupling effects are analyzed after transforming the evolution equation in Borel (bb) space. The Borel singularities of the solution are discussed first for the universal part of the dipole cascade and then for the specific process of D.I.S. at small xx. In the latter case the leading infrared renormalon is at b=1/ÎČ0b=1/\beta_0 indicating the presence of 1/Q21/Q^2 power corrections for the small-xx structure functions.Comment: 5 pages, Latex (Talk presented at DIS'97, Chicago, IL

    High temperature properties of equiatomic FeAl with ternary additions

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    The aluminide intermetallic compounds are considered potential structural materials for aerospace applications. The B2 binary aluminide FeAl has a melting point in excess of 1500 K, is of simple cubic structure, exits over a wide range of composition with solubility for third elements and is potentially self-protecting in extreme environments. The B2 FeAl compound has been alloyed with 1 to 5 at % ternary additions of Si, Ti, Zr, Hf, Cr, Ni, Co, Nb, Ta, Mo, W, and Re. The alloys were prepared by blending a third elemental powder with prealloyed binary FeAl powder. Consolidation was by hot extrusion at 1250 K. Annealing studies on the extruded rods showed that the third element addition can be classified into three categories based upon the amount of homogenization and the extent of solid solutioning. Constant strain rate compression tests were performed to determine the flow stress as a function of temperature and composition. The mechanical strength behavior was dependent upon the third element homogenization classification

    Interleukin-12 p40 secretion by cutaneous CD11c(+) and F4/80(+) cells is a major feature of the innate immune response in mice that develop Th1-mediated protective immunity to Schistosoma mansoni

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    Radiation-attenuated (RA) schistosome larvae are potent stimulators of innate immune responses at the skin site of exposure (pinna) that are likely to be important factors in the development of Th1-mediated protective immunity. In addition to causing an influx of neutrophils, macrophages, and dendritic cells (DCs) into the dermis, RA larvae induced a cascade of chemokine and cytokine secretion following in vitro culture of pinna biopsy samples. While macrophage inflammatory protein 1alpha and interleukin-1beta (IL-1beta) were produced transiently within the first few days, the Th1-promoting cytokines IL-12 and IL-18 were secreted at high levels until at least day 14. Assay of C3H/HeJ mice confirmed that IL-12 secretion was not due to lipopolysaccharide contaminants binding Toll-like receptor 4. Significantly, IL-12 p40 secretion was sustained in pinnae from vaccinated mice but not in those from nonprotected infected mice. In contrast, IL-10 was produced from both vaccinated and infected mice. This cytokine regulates IL-12-associated dermal inflammation, since in vaccinated IL-10(-/-) mice, pinna thickness was greatly increased concurrent with elevated levels of IL-12 p40. A significant number of IL-12 p40(+) cells were detected as emigrants from in vitro-cultured pinnae, and most were within a population of rare large granular cells that were Ia(+), consistent with their being antigen-presenting cells. Labeling of IL-12(+) cells for CD11c, CD205, CD8alpha, CD11b, and F4/80 indicated that the majority were myeloid DCs, although a proportion were CD11c(-) F4/80(+), suggesting that macrophages were an additional source of IL-12 in the skin

    Performance of a building integrated photovoltaic/thermal (BIPVT) solar collector

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    The idea of combining photovoltaic and solar thermal collectors (PVT collectors) to provide electrical and heat energy is an area that has, until recently, received only limited attention. Although PVTs are not as prevalent as solar thermal systems, the integration of photovoltaic and solar thermal collectors into the walls or roofing structure of a building could provide greater opportunity for the use of renewable solar energy technologies. In this study, the design of a novel building integrated photovoltaic/thermal (BIPVT) solar collector was theoretically analysed through the use of a modified Hottel–Whillier model and was validated with experimental data from testing on a prototype BIPVT collector. The results showed that key design parameters such as the fin efficiency, the thermal conductivity between the PV cells and their supporting structure, and the lamination method had a significant influence on both the electrical and thermal efficiency of the BIPVT. Furthermore, it was shown that the BIPVT could be made of lower cost materials, such as pre-coated colour steel, without significant decreases in efficiency. Finally, it was shown that by integrating the BIPVT into the building rather than onto the building could result in a lower cost system. This was illustrated by the finding that insulating the rear of the BIPVT may be unnecessary when it is integrated into a roof above an enclosed air filled attic, as this air space acts as a passive insulating barrier

    Dynamical Flavour Symmetry Breaking by a Magnetic Field in Lattice QED_3

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    We perform a lattice study, in the quenched approximation, of dynamical mass generation in a system of relativistic (Dirac) fermions, coupled to an Abelian gauge field in (2+1)-dimensions, in the presence of an external (constant) magnetic field, perpendicular to the spatial planes. It is shown that a strong magnetic field catalyzes chiral symmetry breaking, in agreement with results in the continuum. The r\^ole of the higher-Landau poles in inducing a critical temperature above which the phenomenon disappears is pointed out. We also discuss the implications of this model on the opening of a gap in doped antiferromagnetic superconductors.Comment: 18 pages, latex, 9 figures, uses psfig and epsf; minor typos in eqs.(10) and (17) correcte
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