Countercyclical contingent capital (CCC): possible use and ideal design

Contingent capital – any debt instrument that converts into equity when a predefined event occurs – has received increasing attention as a viable tool for allowing banks to raise capital when needed at relatively more affordable prices than common equity. While the debate has focused on contingent capital for systemically important financial institutions, this paper concentrates on its possible use for covering capital needs arising from the implementation of countercyclical buffers. We propose the introduction of countercyclical contingent capital (CCC) based on a double trigger. The interaction of the two triggers would determine a quasi-default status. Conversion would be required when the financial system is simultaneously facing aggregate problems and the individual bank – while still in a going concern status – shows weaknesses. Building on this proposal, the paper tests how different double triggers would have worked in the past and discusses the optimal design of the conversion mechanism and prudential treatment.Basel 2, capital buffer, procyclicality, contingent capital, financial crisis, reforms

A single overturning of ridge for horizontal bone augmentation in maxilla with immediate implant placement: 18-Years follow-up

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Regulatory impact assessment at the Bank of Italy

The far-reaching regulatory activity in which the financial sector has been involved in recent years has been attracting increased attention to the expected costs and benefits of such regulation; measures undertaken in response to the financial crisis have made these issues even more topical. Regulatory impact assessment (RIA) has become a widespread practice for the international institutions and for the regulators in the main developed countries. RIA has recently been adopted at the Bank of Italy, proving to be a useful tool not only to refine the rules being adopted, but also to strengthen the interaction with the public during the consultation phase. The publication of the RIA Guidelines provides a tool for codifying the process of the analysis; with the help of some exemplifications drawn from RIAs conducted so far, this document provides a key for the interpretation of the analyses and helps to clarify the underlying logical steps.RIA, impact assessment, regulation, bank, public consultation

Posttransplantation chronic renal damage in nonrenal transplant recipients

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Schooling In Little Portugal: The Portuguese Experience

This thesis examines the problem of low educational attainment rates of Portuguese- Canadian students in the areas of “Little Portugal” and West Toronto. Interviews were conducted with former students, teachers, administrators, and community leaders who have all experienced or are linked to the public education system in those areas of Toronto. The question, “why has there been a low educational attainment rate among Portuguese-Canadian students in Toronto?” was asked of the interviewees. The first three chapters provide background information regarding the struggles of the Portuguese in their homeland as well as Portuguese immigrants in Toronto in order to contextualize the information garnered through the interviews. The final two chapters present the thoughts of the interviewees, regarding the subject matter, which were collected during the study.MAS

Examining interactions between Pseudomonas aeruginosa and Staphylococcus aureus from cystic fibrosis lung infections

Pseudomonas aeruginosa and Staphylococcus aureus are two common cystic fibrosis (CF) pathogens, thought to interact within the lung and influence disease progression. This study on interspecies interactions revealed that P. aeruginosa mediates antagonistic interactions with S. aureus. Further analysis was completed to identify the mechanism of negative interactions between an S. aureus CF isolate, C105, and twenty seven P. aeruginosa CF isolates – nine of which were identified as inhibitors. It was demonstrated that an inhibitory factor is secreted by P. aeruginosa; is less than 5 kDa, can induce tobramycin resistance in C105 and reduce hemolytic activity suggesting the formation of small colony variants (SCVs). GC-MS analysis revealed that the primary inhibitory factor was not 4-hydroxy-2n-heptlyquinolone-N-oxide (HQNO) rather inhibition of S. aureus by P. aeruginosa is complex and involves the secretion of multiple factors. This research suggests that P. aeruginosa produces multiple anti-staphylococcal agents that play a paradoxical role as they inhibit growth yet allow for aminoglycoside resistance in S. aureus