Mexico\u27s Banks after the December 1994 Devaluation--A Chronology of the Government\u27s Response

The immediate effects of the December 1994 peso devaluation and the period of high interest rates and economic recession that followed had important repercussions for the Mexican banking and financial system. Since the onset of the crisis, the Mexican government has undertaken a number of important actions designed to assure adequate capitalization of financial institutions and continued public confidence in the banking system. The goal throughout has been to avoid a banking crisis that would exacerbate the contraction in the real economy and to set the stage for a recovery of the financial system based on sound institutions and efficient financial markets. The steps taken have included amendments to the legal framework for foreign ownership of banks, reinforcement of supervision, programs for re capitalizing troubled banks, the introduction of inflation-indexed lending and the provision of indexed funding to banks, a debtor relief program and direct intervention of those banks that proved unable to weather the crisis and its aftermath. The combination of these meas- ures has permitted most of the banks and the banking and payments system as a whole to continue to operate throughout 1995, despite a very sharp contraction in the real econom

Gamma-ray and radio properties of six pulsars detected by the fermi large area telescope

We report the detection of pulsed γ-rays for PSRs J0631+1036, J0659+1414, J0742-2822, J1420-6048, J1509-5850, and J1718-3825 using the Large Area Telescope on board the Fermi Gamma-ray Space Telescope (formerly known as GLAST). Although these six pulsars are diverse in terms of their spin parameters, they share an important feature: their γ-ray light curves are (at least given the current count statistics) single peaked. For two pulsars, there are hints for a double-peaked structure in the light curves. The shapes of the observed light curves of this group of pulsars are discussed in the light of models for which the emission originates from high up in the magnetosphere. The observed phases of the γ-ray light curves are, in general, consistent with those predicted by high-altitude models, although we speculate that the γ-ray emission of PSR J0659+1414, possibly featuring the softest spectrum of all Fermi pulsars coupled with a very low efficiency, arises from relatively low down in the magnetosphere. High-quality radio polarization data are available showing that all but one have a high degree of linear polarization. This allows us to place some constraints on the viewing geometry and aids the comparison of the γ-ray light curves with high-energy beam models

Focus on Capital: New Approaches to Developing Latin American Capital Markets

This book analyzes the status of the markets in Latin America and identifies the technical, political, and financial challenges to building vibrant capital markets and increasing the efficiency benefits of regional economic and financial integration