Banks' capital structure and capital regulations

This study proposes a model that describes banks' decisions about their capital structures and analyzes the effects of regulating banks' capital adequacy ratios (CAR); that is, the ratio of equity financing to risky assets. This study investigates whether bank lending decreases when the banks need to raise their CAR to satisfy the regulation. We analyze a model in which households have bargaining power regarding deposits and a bank must adjust its capital structure indirectly through the households' decision-making, and compare the results which that obtained in a model in which the bank has the bargaining power. In either case, the bank can suffer a loss when it raises its CAR. However, changes in the amount of lending in the two models differ. When the bank has the bargaining power, it always chooses to just use equity financing more, and thus there is no probability that bank lending decreases. When the households has the bargaining power, contrariwise, this model shows that the more risk-averse households are, the more likely the amount of lending is to decrease. These results can explain why banks' reaction to the CAR regulation are different from each other. Moreover, the results indicate a positive probability that regulating banks' capital structures has a negative effect on the economy

Spectrophotometric Studies on High Iron Content Silicate Glasses

Spectrophotometric investigations were carried out on soda-lime-silica glasses containing iron in high content, corresponding to 4.9 wt.% Fe(2)O(3), and melted under the various reducing conditions, as a part of series of studies on the redox behavior of glass. Absorption measurement was made in the range from 340 mμ to 1000 mμ. Ferric ions could not be reduced to ferrous ions completely even by the amount of carbon of four equivalents. The ratio of the strength of light absorption at 1000 mμ as a typical band of Fe(2+) ions and that at 380mμ of Fe(3+) ions was expressed as E(1000)/E(380), which was examined for glass compositions as well as various carbon amount added to glass batches. The ratio decreases as the carbon amount increases and increases with decreasing content of Na(2)O or CaO. These changes of spectrophotometric properties of glasses were discussed from the view point of state of the the iron ions. Besides, some results on oxidized glasses were also added

銀行の資本構成と自己資本比率規制

This study proposes a model that describes banks' decisions about their capital structures and analyzes the regulation of the capital adequacy ratio (CAR), that is, the ratio of equity finance to risky assets. The aim of this study is to investigate two questions. First, which level of CAR is optimal for a bank when both deposit finance and equity finance have advantages and disadvantages. Second, whether or not a bank reduces the amount of lending when it is required to rise its CAR. In this study, we analyze tow types of the model: one without a constraint on the maximum amount of funding a bank can obtain from households, and one with the constraint. In either case, the optimal CAR could be determined as an interior solution. In addition, a regulation of the CAR decreases a bank's profit if its CAR is not large enough to satisfy the regulation in either case. Even though an unsound bank always chooses to use more equity finance to satisfy regulation in the former case, it would choose to reduce the amount of lending in the latter case because its capital structure is affected by households portfolio optimizations. The model shows that the more risk-averse households are, the more likely a bank is to reduce lending. These results show that there is a positive probability that regulating banks' capital structures have a negative effect in economy, and to investigate such effect we consider the interaction between banks and households more carefully

人工心肺における新しい連続血液粘度モニタリング法に関する研究

広島大学(Hiroshima University)博士(工学)Doctor of Engineeringdoctora

銀行の資本構成と自己資本比率規制

This study proposes a model that describes banks' decisions about their capital structures and analyzes the regulation of the capital adequacy ratio (CAR), that is, the ratio of equity finance to risky assets. The aim of this study is to investigate two questions. First, which level of CAR is optimal for a bank when both deposit finance and equity finance have advantages and disadvantages. Second, whether or not a bank reduces the amount of lending when it is required to rise its CAR. In this study, we analyze tow types of the model: one without a constraint on the maximum amount of funding a bank can obtain from households, and one with the constraint. In either case, the optimal CAR could be determined as an interior solution. In addition, a regulation of the CAR decreases a bank's profit if its CAR is not large enough to satisfy the regulation in either case. Even though an unsound bank always chooses to use more equity finance to satisfy regulation in the former case, it would choose to reduce the amount of lending in the latter case because its capital structure is affected by households portfolio optimizations. The model shows that the more risk-averse households are, the more likely a bank is to reduce lending. These results show that there is a positive probability that regulating banks' capital structures have a negative effect in economy, and to investigate such effect we consider the interaction between banks and households more carefully

Banks' Disclosure of Information and Financial Stability Regulations

This study proposes a model that analyzes the interaction between a bank and its creditors. The bank uses short-term wholesale funding and the creditors decide whether to roll over their loan by using information about the bank. The model shows that, when the creditors become more reluctant to roll over their loans since the bank heavily depends on such a debt, the bank does not issue the short-term debt excessively and its privately optimal amount of the debt in this situation corresponds to the socially desirable one. This implies that a regulation requiring banks to disclose information about their capital structures can by itself contribute to stabilizing the financial system. However, the model also shows that in order to ensure the result we need an additional regulation that bridges the information gap between banks and creditor

Renúncia fiscal como ferramenta para atração de investimentos nas prefeituras do Norte do Paraná

Orientador: Blenio Cesar Severo PeixeMonografia (Especialização) - Universidade Federal do Paraná, Setor de Ciências Sociais Aplicadas, Curso de Especialização em Auditoria IntegralResumo: Este estudo relata uma pesquisa realizada em seis municípios da região norte do Paraná, sobre a renúncia fiscal, antes e depois da Lei Complementar 101 de 4 de maio de 2000. Inclui uma análise teórica sobre renúncia fiscal e guerra fiscal. Identifica os resultados e conseqüências da guerra fiscal nas finanças públicas, assim como, relata as vantagens competitivas e a nova política estadual para novos investimentos. Sobre a Lei de Responsabilidade Fiscal este estudo aponta suas causas e conseqüências, mostrando que a partir de sua regulamentação, o governo municipal deve explorar adequadamente a sua base tributária e, conseqüentemente, ter capacidade de estimar qual será a sua receita. De forma alternativa, o estudo mostra que o governante da gestão atual deve demonstrar que a renúncia de receita será compensada pelo aumento de receita proveniente de elevação de alíquotas, ampliação da base de cálculo, aumento ou criação de tributo ou contribuiçã

High-Dose Corticosteroids for a Pregnant Woman Critically Ill With Coronavirus Disease 2019

Pregnancy was reported to be a risk factor for coronavirus disease 2019 (COVID-19), with an increased risk for premature birth. Corticosteroids and remdesivir are used for patients with COVID-19; however, there is no established treatment for these patients. In particular, the effective management of pregnant, critically ill patients with COVID-19 remains unknown. We describe a 34-year-old, critically ill woman at 30 weeks of gestation with COVID-19, who was successfully treated with remdesivir and combined high-dose betamethasone (12 mg/day for two days) and methylprednisolone (125 mg/day for three days) followed by steroid tapering. During treatment, fetal biophysical profile scores on obstetric ultrasound were normal; her pregnancy course progressed well. Since high-dose corticosteroids improve fetal lung maturation and as well as cytokine storm due to COVID-19, this case provides an insight into the management of pregnant COVID-19 patients

Integrated pulmonary index can predict respiratory compromise in high-risk patients in the post-anesthesia care unit: a prospective, observational study

Background: Respiratory compromise (RC) including hypoxia and hypoventilation is likely to be missed in the postoperative period. Integrated pulmonary index (IPI) is a comprehensive respiratory parameter evaluating ventilation and oxygenation. It is calculated from four parameters: end-tidal carbon dioxide, respiratory rate, oxygen saturation measured by pulse oximetry (SpO(2)), and pulse rate. We hypothesized that IPI monitoring can help predict the occurrence of RC in patients at high-risk of hypoventilation in post-anesthesia care units (PACUs). Methods: This prospective observational study was conducted in two centers and included older adults (>= 75-year-old) or obese (body mass index >= 28) patients who were at high-risk of hypoventilation. Monitoring was started on admission to the PACU after elective surgery under general anesthesia. We investigated the onset of RC defined as respiratory events with prolonged stay in the PACU or transfer to the intensive care units; airway narrowing, hypoxemia, hypercapnia, wheezing, apnea, and any other events that were judged to require interventions. We evaluated the relationship between several initial parameters in the PACU and the occurrence of RC. Additionally, we analyzed the relationship between IPI fluctuation during PACU stay and the occurrences of RC using individual standard deviations of the IPI every five minutes (IPI-SDs). Results: In total, 288 patients were included (199 elderly, 66 obese, and 23 elderly and obese). Among them, 18 patients (6.3 %) developed RC. The initial IPI and SpO(2) values in the PACU in the RC group were significantly lower than those in the non-RC group (6.7 +/- 2.5 vs. 9.0 +/- 1.3, p Conclusions: Our study showed that low value of the initial IPI and the fluctuating IPI after admission to the PACU predict the occurrence of RC. The IPI might be useful for respiratory monitoring in PACUs and ICUs after general anesthesia