Systemic risk contributions: a credit portfolio approach

We put forward a Merton-type multi-factor portfolio model for assessing banks' contributions to systemic risk. This model accounts for the major drivers of banks' systemic relevance: size, default risk and correlation of banks' assets as a proxy for interconnectedness. We measure systemic risk in terms of the portfolio expected shortfall (ES). Banks' (marginal) risk contributions are calculated based on partial derivatives of the ES in order to ensure a full risk allocation among institutions. We compare the performance of an importance sampling algorithm with a fast analytical approximation of the ES and the marginal risk contributions. Furthermore, we show empirically for a portfolio of large international banks how our approach could be implemented to compute bank-specific capital surcharges for systemic risk or stabilisation fees. We find that size alone is not a reliable proxy for the systemic importance of a bank in this framework. In order to smooth cyclical fluctuations of the risk measure, we explore a time-varying confidence level of the ES. --systemic risk contributions,systemic capital charge,expected shortfall,importance sampling,granularity adjustment

FACTORS AND CAUSES OF MIGRATION PROCESSES OF UKRAINIANS: GENDER ASPECT

This study aims to examine the gendered aspects of Ukrainians' migration processes, their satisfaction with life in another country and the relationship between life satisfaction and work, education and the use of social services. The study was conducted by interviewing 585 respondents, analyzing the data and calculating the correlation coefficient between certain variables. The study revealed that displacement can lead to various issues such as legal status, loss of skilled professionals, forced migration, stereotyping, limited job opportunities, cultural adaptation, and language barriers. Additionally, the survey found that migrants who utilize social services report higher levels of life satisfaction compared to those who do not. These individuals are more likely to be employed in particular specialties. Additionally, migrants between the ages of 30-40 report higher life satisfaction compared to those between the ages of 20-30. Migrant men and women between the ages of 20-30 and 31-40, with higher levels of education, reported statistically higher levels of life satisfaction than those with lower levels of education. Social services can significantly increase the level of satisfaction with the quality of life and contribute to the economic development of the host country, as well as the well-being of the migrants themselves. Legal stays are among the most complex issues faced by migrants. The study proposes recommendations for improving the conditions of stay abroad for the general category of migrants. &nbsp

СТРУКТУРНА МОДЕЛЬ ПЕДАГОГІЧНОЇ ПІДГОТОВКИ СТУДЕНТІВ ДО ПРЕВЕНТИВНОЇ ДІЯЛЬНОСТІ З УЧНЯМИ ПОЧАТКОВОЇ ШКОЛИ

In this article it is theoretically grounded the structure model of pedagogical raining the students ’ preventive activity with the pupils of the primary school and rended concrete its structure components of, realization of which positively gives influence on the quality of preparation of the pedagogical specialists

ПРЕВЕНТИВНА ДІЯЛЬНІСТЬ ПЕДАГОГА ЯК ЗАСІБ ЗАПОБІГАННЯ АСОЦІАЛЬНОЇ ПОВЕДІНКИ МОЛОДШИХ ШКОЛЯРІВ

The article is dedicated pecularietes of pedagogical support and priventive activity to avoid unsocial tanager's behavior

ПРИНЦИПИ ОРГАНІЗАЦІЇ ПІДГОТОВКИ МАЙБУТНІХ ПЕДАГОГІВ ДО ПРЕВЕНТИВНОЇ ДІЯЛЬНОСТІ З МОЛОДШИМИ ШКОЛЯРАМИ

In the article a great attention is paid to the specific character of the preventive and corrective actions of a teacher; and the basic principles of the future teacher's preparation for a preventive work with the pupils are described as well

ПОДОЛАННЯ КОНФЛІКТІВ У СИСТЕМІ “УЧИТЕЛЬ-УЧЕНЬ” ЗАСОБАМИ ГУМАНІСТИЧНОГО ПІДХОДУ ДО ОРГАНІЗАЦІЇ ПЕДАГОГІЧНОГО ПРОЦЕСУ

The possibilités of the humanistic approach to the organization of pedagogikal process in overcoming the conflict relations between the teacher and tne pupil are considered in this article