Fair value accounting and financial stability

Accounting standard setters are considering the wider use of fair value accounting. This paper focuses on the financial stability implications of a move in the banking sector from the current accounting framework to full fair value accounting. A simulation exercise is performed on how various external shocks affect the balance sheet of an average European bank under the two frameworks. The paper further investigates the impact of the alternative framework on the main balance sheet items, and the interaction with banks’ risk management, supervisory tools and statistical requirements. It also examines how the application of fair value accounting to banks’ trading book has impacted their share price volatility. It is concluded that the introduction of full fair value accounting could have a significant effect in terms of income volatility, procyclicality of bank lending and more generally financial stability. Hence, any move towards this alternative accounting framework should be gradual.accounting, banks, fair value, financial regulation, financial reporting, financial stability, risk management.

La liberté académique

This book analyses the threats to academic freedom in the twenty-first century across the globe, and the various ways to face them

Les modes de coopération des services publics locaux au regard du droit européen: contractualisation, mise en concurrence, marché public et exception "in house"(Actes de la matinée d’études organisée à Namur le 25 janvier 2008 par l’Association francophone des sciences de l’administration et de la gestion publique AFSA a.s.b.l).

L'association francophone des sciences de l'administration et de la gestion publiques (AFSA) a organisé le 25 janvier 2008 à Namur, au siège du Parlement wallon, une matinée d'études sur le thème particulièrement d'actualité des modes de coopération des services publics locaux au regard du droit européen. Au cours de cette matinée, avocats, professeurs et praticiens de la gestion publique ont apporté leur contribution à l'analyse d'une situation qui touche directement à l'autonomie communale et à la compatibilité des modes de gestion des services publics locaux avec le droit communautaire. Le présent ouvrage reprend les textes, le plus souvent retravaillés ou complétés, des différents exposés oraux

Procédé de production de lipase

publication date: 2004-11-10; filing date: 2004-04-2

Les symptômes thymiques liés à l’usage d’alcool

Si l’existence de liens entre consommation éthylique et symptômes thymiques paraît évidente, la nature et les mécanismes qui sous-tendent ces interactions s’avèrent en revanche très complexes et moins bien connus. Cet article, qui s’appuie essentiellement sur des données empiriques et destinées aux cliniciens, vise à décrire de quelle manière la compréhension de ces symptômes thymiques permet de dégager des pistes de travail ou leviers pour le travail clinique avec les patients alcoolo-dépendants. Nous développons en particulier la manière dont la consommation aiguë entraîne des réactions émotionnelles, hors contexte d’abus ou de dépendance (caractère syntone par rapport au cadre social de consommation, « binge-drinking »). Les consommations chroniques, menant à l’abus ou à la dépendance, sont par la suite abordées en détaillant de quelle manière leur interaction biologique avec le circuit de récompense cérébrale modifie notablement l’humeur, en fonction d’un principe d’allostasie. Nous mettons aussi en évidence le rôle de facteurs de personnalité tels que la conscience de Soi dans la relation qui peut exister entre dépression et « craving ». Nous insistons également sur des manifestations annexes aux symptômes thymiques que sont les troubles de cognition sociale fréquents chez les patients alcooliques, menant souvent à un isolement social ainsi qu’à des relations interpersonnelles conflictuelles qui peuvent à leur tour être des facteurs d’accentuation du vécu dépressif.[Thymic symptoms related to the use of alcohol] Although the existence of links between alcohol consumption and thymic symptoms seems obvious, the nature and mechanisms underlying these interactions are, on the other hand, very complex and less well-known. This article, which relies mainly on empirical data and is intended for clinicians, aims to describe how understanding these thymic symptoms can identify avenues of work or levers for clinical work with alcohol-dependent patients. In particular, we develop the way in which acute consumption leads to emotional reactions, outside the context of abuse or dependence (symptom with the social framework of consumption, “binge-drinking”). Chronic consumption leading to abuse or dependence is then discussed, detailing how their biological interaction with the brain reward circuit significantly changes mood, based on a principle of allostasis. We also highlight the role of personality factors such as self-consciousness in the relationship between depression and craving. Furthermore we emphasize manifestations related to thymic symptoms such as social cognition disorders common in alcoholic patients, often leading to social isolation as well as conflicting interpersonal relationships which can in turn be factors of accentuation as far as depression symptoms are concerned

Contrasting role of NLRP12 in autoinflammation: evidence from a case report and mouse models

OBJECTIVE: To explore at the molecular level the phenotype of a patient suffering an autoinflammatory syndrome which was diagnosed as familial cold autoinflammatory syndrome type 2 (FCAS-2). To explore the functions of Nlrp12 in inflammation using mouse models. METHODS: Whole exome sequencing and Nlrp12 targeted resequencing were performed on DNA isolated from the patient and her family members. In vivo and ex vivo models of inflammation (urate crystals-dependent acute joint inflammation and urate crystals-induced peritonitis) were analysed in Nlrp12-deficient and Nlrp12-competent mice. RESULTS: A rare missense NLRP12 variant (c.857C>T, p.P286L) was identified in the patient and her healthy relatives. Nlrp12-deficient mice exhibit reduced systemic inflammation and neutrophilic infiltration. CONCLUSION: Nlrp12 mediates proinflammatory functions in mice. In humans, the identification of Nlrp12 variants must be cautiously interpreted depending on clinical and paraclinical data to diagnose FCAS-2

The Arabidopsis hnRNP-Q Protein LIF2 and the PRC1 subunit LHP1 function in concert to regulate the transcription of stress-responsive genes

Advance PublicationInternational audienceLHP1-INTERACTING FACTOR2 (LIF2), a heterogeneous nuclear ribonucleoprotein involved in Arabidopsis thaliana cell fate and stress responses, interacts with LIKE HETEROCHROMATIN PROTEIN1 (LHP1), a Polycomb Repressive Complex1 (PRC1) subunit. To investigate LIF2-LHP1 functional interplay, we mapped their genome-wide distributions in wild-type, lif2, and lhp1 backgrounds, under standard and stress conditions. Interestingly, LHP1-targeted regions form local clusters, suggesting an underlying functional organization of the plant genome. Regions targeted by both LIF2 and LHP1 were enriched in stress-responsive genes, the H2A.Z histone variant, and antagonistic histone marks. We identified specific motifs within the targeted regions, including a G-box-like motif, a GAGA motif, and a telo-box. LIF2 and LHP1 can operate both antagonistically and synergistically. In response to methyl jasmonate treatment, LIF2 was rapidly recruited to chromatin, where it mediated transcriptional gene activation. Thus, LIF2 and LHP1 participate in transcriptional switches in stress-response pathways