Evaluating VaR forecasts under stress: the German experience

We present an analysis of VaR forecasts and P&L-series of all 13 German banks that used internal models for regulatory purposes in the year 2001. To this end, we introduce the notion of well-behaved forecast systems. Furthermore, we provide a series of statistical tools to perform our analyses. The results shed light on the forecast quality of VaR models of the individual banks, the regulator's portfolio as a whole, and the main ingredients of the computation of the regulatory capital required by the Basel rules

Evaluating VaR Forecasts under Stress – The German Experience

We present an analysis of VaR forecasts and P&L-series of all 13 German banks that used internal models for regulatory purposes in the year 2001. To this end, we introduce the notion of well-behaved forecast systems. Furthermore, we provide a series of statistical tools to perform our analyses. The results shed light on the forecast quality of VaR models of the individual banks, the regulator's portfolio as a whole, and the main ingredients of the computation of the regulatory capital required by the Basel rules.banking supervision, VaR, exploratory data analysis, backtesting

Cupid\u27s Pranks : Caprice

https://digitalcommons.library.umaine.edu/mmb-ps/1467/thumbnail.jp

Lillian Russell Waltz

https://digitalcommons.library.umaine.edu/mmb-ps/1259/thumbnail.jp

Papa\u27s Pet : Grand March

https://digitalcommons.library.umaine.edu/mmb-ps/1799/thumbnail.jp

The Languid Man

https://digitalcommons.library.umaine.edu/mmb-vp/4388/thumbnail.jp

Connections with Practitioners Adds Excellence to Teacher Education

The University of Northern Iowa (UNI) has established the Regional Partnership Program; consisting of nine regional centers located across the state; so that UNI may be geographically in touch with all areas of the state. All of the centers have a common structure: the administrator of each center is a tenure track UNI professor; all centers have implemented a full semester student teaching curriculum; and all center partnerships have established an advisory cadre of local education practitioners. The program has seven major characteristics: (1) use of a regional network allows expanded student teaching experiences under a centralized administration; (2) in each regional district at least one professor has overall responsibility for achieving goals; (3) in each center a clinical supervisor is under contract to the university and directly responsible to the professor in charge; (4) at least five teachers per center belong to a cadre which works closely with the professor and clinical supervisor; (5) in each region classroom teachers are trained to serve as cooperating teachers on a term-by-term basis; (6) a special relationship has been established between school district and university; and (7) a telecommunications network has been installed. To achieve greater depth in field experience programs; each regional center has established a working structure that best fits the school districts involved in the partnership. (JD

Substance Abuse and Welfare Policy at the New Century

Drawing on findings from the SSI Study and other research, this paper takes up various policy questions fundamental to any welfare program for substance abusers. The paper considers the place of disability benefits in the U.S. system of categorical aid and the problems raised by substance abuse for the disability category. It discusses the desirable objectives of a welfare program for substance abusers and the various mechanisms by which they might be achieved. And finally, it considers how any new program might be positioned in the context of categorical aid and American federalism

Issues, Concepts and Methods Relating to the Identification of the Ethics of Emerging ICTs

Ethical issues of information and communication technologies (ICTs) are important because they can have significant effects on human liberty, happiness, their ability to lead a good life. They are also of functional interest because they can determine whether technologies are used and whether their positives potential can unfold