Bank capital structure, regulatory capital, and securities innovations

Although financial instruments that, in effect, permit corporations to treat preferred stock dividends as tax-deductible interest have been used by nonfinancial corporations since late 1993, bank holding companies (BHCs) did not issue these trust-preferred securities (TPS) until 1996, when the Federal Reserve qualified them as Tier-1 capital. We delineate and test hypotheses with 1) analyses of the stock-market reaction to the Fed’s ruling and to TPS filings and 2) comparisons of BHCs that issued TPS with those that did not. We conclude that regulatory capital requirements, tax savings, and uninsured sources of funds can have significant positive effects on BHCs’ demand for capital; growth and investment opportunities have an inconclusive effect; and transaction costs have a negative effect. Our results are not consistent with the moral-hazard hypothesis.Bank capital ; Bank holding companies ; Bank supervision ; Securities

A Warm Proposition : Cake Walk

https://digitalcommons.library.umaine.edu/mmb-ps/2281/thumbnail.jp

PCBs and dioxins/furans in attic dust collected near former PCB production and secondary copper facilities in Sauget, IL

AbstractSamples of settled attic dust from fourteen buildings located within two miles of the Solutia W.G. Krummrich and Cerro Flow Products facilities in Sauget, Illinois were analyzed for PCBs and dioxins/furans using HRGC/HRMS. The facilities released vast quantities of PCBs and dioxins/furans into the environment over many decades. The concentrations and homologues present in the samples of attic dust and in samples of soil collected by U.S. EPA demonstrate atmospheric transport of PCBs and dioxins/furans from these manufacturing sites and local dumps contaminated with these pollutants. The results demonstrate that attic dust is a useful metric for assessing historical exposure to atmospheric emissions

Refresh Matters: Energy and Performance Analysis of Large Last-Level Cache Built with Gain Cell Embedded DRAM

Embedded dynamic random access memories (eDRAMs) have high density and low leakage futures, making them suitable for implementing large last-level caches (L3Cs). However, refresh operations are required, which negatively impact the power and performance. This article investigates the impact of refresh on energy and performance of eDRAM-based L3Cs. Experiments show that refresh has minor impact on system performance but continues to be the primary source of eDRAM-based L3C energy consumption.Inte

Optimisation of the enzyme-linked lectin assay for enhanced glycoprotein and glycoconjugate analysis

Lectin’s are proteins capable of recognising and binding to specific oligosaccharide tructures found on glycoproteins and other biomoloecules. As such they have found tility for glycoanalytical applications. One common difficulty encountered in the pplication of these proteins, particularly in multi-well plate assay formats known as Enzyme Linked Lectin Assays (ELLA’s), is in finding appropriate blocking solutions to prevent non-specific binding with plate surfaces. Many commonly used blocking agents contain carbohydrates and generate significant background signals in ELLA’s, limiting the utility of the assay. In this study we examined the suitability of a range of blocking reagents, including rotein based, synthetic and commercially available carbohydrate free blocking eagents, for ELLA applications. Each blocking reagent was assessed against a panel f 19 commercially available biotinylated lectins exhibiting diverse structures and arbohydrate specificities. We identified the synthetic polymer Polyvinyl Alcohol PVA) as the best global blocking agent for performing ELLA’s. We ultimately present n ELLA methodology facilitating broad spectrum lectin analysis of glycoconjugates nd extending the utility of the ELLA

MODELING THE EFFECTS OF REFINERY EMISSIONS ON RESIDENTIAL PROPERTY VALUES

ABSTRACT This research studied the effects of refinery air pollution on house prices near Houston, Texas. The affected area was identified through AERMOD air modeling of past releases of sulfur dioxide, a proxy for respiratory risk. A total of 3,964 residential MLS sales from 2006-2011 were used to populate an OLS model, a spatial model, and a spatial model with an additional endogenous variable. Findings indicate that air pollution has a significant negative 6-8% loss on house prices. For one year, the negative effect is shown to generally diminish with distance up to about two miles from the refinery