3,039 research outputs found

    Fraxinus angustifolia Reut. ex Nym.

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    https://thekeep.eiu.edu/herbarium_specimens_byname/21239/thumbnail.jp

    Juridical and Financial Considerations on the Public Recapitalisation and Rescue of Financial Institutions During Periods of Financial Crises (Part I)

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    As well as a consideration of why the lender of last resort facility should be used for emergency situations and systemically relevant institutions in particular, an interesting point which will be considered in this publication is the comparison between the European Central Bank (ECB) Recommendation and its application by the Commission in the Re capitalisation Communication, specifically with its Annex, where the Commission explains how it determines the price of equity or own funds (ordinary or common shares) - balancing the “real value” with the “market value” within a crisis context. This publication will also consider how to transform the Crisis into an opportunity in order to minimise tax burdens to taxpayers – as well as making financial markets more efficient. Furthermore, whether the Commission and Member States have applied the methodology (the determination of the price of equity – as stated in the Annex to the Recapitalisation Communication on Financial Institutions) in determining the price of equity with respect to the capital of banks acquired by Member States, will be addressed. Such consideration could provide a vital key to determining the real value of State Aid and the best possible price for which capital could be sold. Given the scale of government intervention and State rescues which occurred during the recent crisis – as well as the prominence accorded to measures aimed at preventing and limiting distortions of competition, calls have been made for competition authorities to take on more formidable roles in designing and implementing exit strategies. In order to foster competition as much as possible, it is proposed that ”governments should provide financial institutions with incentives to prevent them from depending on government support once the economy begins to recover.

    Integrating IVHM and Asset Design

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    Integrated Vehicle Health Management (IVHM) describes a set of capabilities that enable effective and efficient maintenance and operation of the target vehicle. It accounts for the collection of data, conducting analysis, and supporting the decision-making process for sustainment and operation. The design of IVHM systems endeavours to account for all causes of failure in a disciplined, systems engineering, manner. With industry striving to reduce through-life cost, IVHM is a powerful tool to give forewarning of impending failure and hence control over the outcome. Benefits have been realised from this approach across a number of different sectors but, hindering our ability to realise further benefit from this maturing technology, is the fact that IVHM is still treated as added on to the design of the asset, rather than being a sub-system in its own right, fully integrated with the asset design. The elevation and integration of IVHM in this way will enable architectures to be chosen that accommodate health ready sub-systems from the supply chain and design trade-offs to be made, to name but two major benefits. Barriers to IVHM being integrated with the asset design are examined in this paper. The paper presents progress in overcoming them, and suggests potential solutions for those that remain. It addresses the IVHM system design from a systems engineering perspective and the integration with the asset design will be described within an industrial design process

    Juridical and financial considerations on the public re capitalisation and rescue of financial institutions during periods of financial crises (Part I)

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    As well as a consideration of why the lender of last resort facility should be used for emergency situations and systemically relevant institutions in particular, an interesting point which will be considered in this paper is the comparison between the European Central Bank (ECB) Recommendation and its application by the Commission in the Re capitalisation Communication, specifically with its Annex, where the Commission explains how it determines the price of equity or own funds1 (ordinary or common shares) - balancing the “real value” with the “market value” within a crisis context. This paper will also consider how to transform the Crisis into an opportunity in order to minimise tax burdens to taxpayers – as well as making financial markets more efficient. Furthermore, whether the Commission and Member States have applied the methodology (the determination of the price of equity – as stated in the Annex to the Re capitalisation Communication) in determining the price of equity with respect to the capital of banks acquired by Member States, will be addressed. Such consideration could provide a vital key to determining the real value of State Aid and the best possible price for which capital could be sold. Given the scale of government intervention and State rescues which occurred during the recent crisis – as well as the prominence accorded to measures aimed at preventing and limiting distortions of competition, calls have been made for competition authorities to take on more formidable roles in designing and implementing exit strategies. In order to foster competition as much as possible, it is proposed that ”governments should provide financial institutions with incentives to prevent them from depending on government support once the economy begins to recover.”Financial Crisis; State aid; re capitalisation; MEIP; guarantees; Troubled Asset Relief Program (TARP); fundamentally sound institutions; rescues; restructuring; recovery

    A review of physics-based models in prognostics: application to gears and bearings of rotating machinery

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    Health condition monitoring for rotating machinery has been developed for many years due to its potential to reduce the cost of the maintenance operations and increase availability. Covering aspects include sensors, signal processing, health assessment and decision-making. This article focuses on prognostics based on physics-based models. While the majority of the research in health condition monitoring focuses on data-driven techniques, physics-based techniques are particularly important if accuracy is a critical factor and testing is restricted. Moreover, the benefits of both approaches can be combined when data-driven and physics-based techniques are integrated. This article reviews the concept of physics-based models for prognostics. An overview of common failure modes of rotating machinery is provided along with the most relevant degradation mechanisms. The models available to represent these degradation mechanisms and their application for prognostics are discussed. Models that have not been applied to health condition monitoring, for example, wear due to metal–metal contact in hydrodynamic bearings, are also included due to its potential for health condition monitoring. The main contribution of this article is the identification of potential physics-based models for prognostics in rotating machinery

    Juridical and financial considerations on the public re capitalisation and rescue of financial institutions during periods of financial crises (Part I)

    Get PDF
    As well as a consideration of why the lender of last resort facility should be used for emergency situations and systemically relevant institutions in particular, an interesting point which will be considered in this paper is the comparison between the European Central Bank (ECB) Recommendation and its application by the Commission in the Re capitalisation Communication, specifically with its Annex, where the Commission explains how it determines the price of equity (ordinary or common shares) - balancing the “real value” with the “market value” within a crisis context. Whether the Commission and Member States have applied this methodology in determining the price of equity with respect to the capital of banks acquired by Member States, will also be addressed. Such consideration could provide a vital key to determining the real value of State Aid and the best possible price for which capital could be sold. Given the scale of government intervention and State rescues which occurred during the recent crisis – as well as the prominence accorded to measures aimed at preventing and limiting distortions of competition, calls have been made for competition authorities to take on more formidable roles in designing and implementing exit strategies. In order to foster competition as much as possible, it is proposed that ”governments should provide financial institutions with incentives to prevent them from depending on government support once the economy begins to recover.”Financial Crisis; re capitalisation; guarantees; Troubled Asset Relief Program (TARP); fundamentally sound institutions; rescues.

    Costa de Marfil: un fracaso francés en África

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    Guerra civil, racismo y ruptura del modelo neocolonial en un paĂ­s antaño ejemplar para la ex metrĂłpoli. El 6 de noviembre murieron nueve soldados franceses en un ataque de las fuerzas aĂ©reas de Costa de Marfil al campamento militar francĂ©s situado en las afueras de la ciudad de Buake, al norte del paĂ­s. Inmediatamente, el Estado Mayor francĂ©s ordenĂł una “operaciĂłn respuesta” que se saldĂł con la destrucciĂłn de los cazas que participaron en el ataque y del resto de los aparatos de la fuerza aĂ©rea marfileña. Mientras se producĂ­a esta operaciĂłn de castigo, pandillas de milicianos del presidente Gbagbo iniciaban una serie de asaltos, incendios, robos y violencias contra sociedades, instalaciones y residencias de ciudadanos franceses en la capital del paĂ­s, AbiyĂĄn. Estos han sido los Ășltimos episodios de una situaciĂłn que se remonta a la muerte en 1993 del “padre fundador” del paĂ­s, HouphouĂ«t Boigny. La inestabilidad polĂ­tica resultante culminĂł en 2002 en una rebeliĂłn armada y el envĂ­o de una fuerza de interposiciĂłn. A la crisis polĂ­tica marfileña se ha añadido una crisis econĂłmica igualmente grave y profunda. El interĂ©s acadĂ©mico de lo sucedido en Costa de Marfil es que este enfrentamiento fratricida marca el final del modelo neocolonial francĂ©s que en este paĂ­s tenĂ­a caracterĂ­sticas ejemplares. Pocos apuestan ya por la supervivencia o la regeneraciĂłn de dicho modelo

    Integrating IVHM and asset design

    Get PDF
    Integrated Vehicle Health Management (IVHM) describes a set of capabilities that enable effective and efficient maintenance and operation of the target vehicle. It accounts for the collecting of data, conducting analysis, and supporting the decision-making process for sustainment and operation. The design of IVHM systems endeavours to account for all causes of failure in a disciplined, systems engineering, manner. With industry striving to reduce through-life cost, IVHM is a powerful tool to give forewarning of impending failure and hence control over the outcome. Benefits have been realised from this approach across a number of different sectors but, hindering our ability to realise further benefit from this maturing technology, is the fact that IVHM is still treated as added on to the design of the asset, rather than being a sub-system in its own right, fully integrated with the asset design. The elevation and integration of IVHM in this way will enable architectures to be chosen that accommodate health ready sub-systems from the supply chain and design trade-offs to be made, to name but two major benefits. Barriers to IVHM being integrated with the asset design are examined in this paper. The paper presents progress in overcoming them, and suggests potential solutions for those that remain. It addresses the IVHM system design from a systems engineering perspective and the integration with the asset design will be described within an industrial design process
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