How resilient are Hungarian banks to liquidity shocks?

For central banks, monitoring banks’ liquidity risk is of great importance from a financial stability perspective. One essential gauge for assessing liquidity risk exposure is whether banks have sufficient liquidity buffers to survive a potential unexpected funding crisis. In this article, we aim to assess the resilience of Hungarian banks to liquidity shocks by using a liquidity stress test. The test is based on a hypothetical stress scenario involving a bank-specific liquidity shock, triggered by a confidence crisis,for example. The shock absorbing capacity of a bank is measured by the maximum degree of liquidity shock the bank can withstand over the short run on the strength of its liquid assets. On the basis of the results of the stress test it is believed that the current liquidity risks essentially do not pose a threat to financial stability. As for large banks, with the overwhelming part of customer deposits, the current liquidity buffers would typically enable the maintenance of liquidity even under extreme circumstances. It should be noted, however, that Hungarian banks are increasingly exposed to fluctuations in global liquidity and that intra-group financing relations may represent a contagion channel. Therefore, in the future, the study of these risk scenarios may be important in further developing stress testing practices for both the central bank and commercial banks.bank liquidity, liquidity risk, stress testing.

Elastic, thermal expansion, plastic and rheological processes - theory and experiment

Rocks are important examples for solid materials where, in various engineering situations, elastic, thermal expansion, rheological/viscoelastic and plastic phenomena each may play a remarkable role. Nonequilibrium continuum thermodynamics provides a consistent way to describe all these aspects in a unified framework. This we present here in a formulation where the kinematic quantities allow arbitrary nonzero initial (e.g., in situ) stresses and such initial configurations which - as a consequence of thermal or remanent stresses - do not satisfy the kinematic compatibility condition. The various characteristic effects accounted by the obtained theory are illustrated via experimental results where loaded solid samples undergo elastic, thermal expansion and plastic deformation and exhibit rheological behaviour. From the experimental data, the rheological coefficients are determined, and the measured temperature changes are also explained by the theory.Comment: 15 pages, to appear in Period. Polytech. Civil En

Agrobacterium-mediated barley transformation.

More than ten years have passed since the first successful Agrobacterium-mediated barley transformation experiment, however it is still quite challenging to establish a stably functioning agroinfiltration protocol. Efficiency of the method depends mainly on the transformation and co-cultivation conditions, and also the components of the tissue-culture media. With the use of an optimized media we have been able to set up a reliable, properly functioning transformation protocol. The first generation of transgenic barley plants, transformed with a transformation cassette carrying an aldo-keto-reductase gene from Arabidopsis thaliana and the hpt marker gene, were analyzed at nucleic acid (both DNA and RNA) and at protein levels. The key factors of success proved to be the use of Silwet L-77 (surfactant) in transformation inoculum, the Cu-content of regenerating media and the continuous visual monitoring of the transformed callus during the somatic embryogenesi

Singularities and stable homotopy groups of spheres I

We establish an interesting connection between Morin singularities and stable homotopy groups of spheres. We apply this connection to computations of cobordism groups of certain singular maps. The differentials of the spectral sequence computing these cobordism groups are given by the composition multiplication in the stable homotopy groups of spheres.Comment: 39 pages, 1 figure, revised again for Journal of Singularitie

Check list of the Hungarian Salticidae with biogeographical notes

An updated check list of the Hungarian jumping spider fauna is presented. 70, species are recorded from Hungary so far. Four species are new to the Hungarian fauna: Hasarius adansoni, Neon valentulus, Sitticus caricis, Synageles subcingulatus. With 12 original drawings

Color models of shadow detection in video scenes

In this paper we address the problem of appropriate modelling of shadows in color images. While previous works compared the different approaches regarding their model structure, a comparative study of color models has still missed. This paper attacks a continuous need for defining the appropriate color space for this main surveillance problem. We introduce a statistical and parametric shadow model-framework, which can work with different color spaces, and perform a detailed comparision with it. We show experimental results regarding the following questions: (1) What is the gain of using color images instead of grayscale ones? (2) What is the gain of using uncorrelated spaces instead of the standard RGB? (3) Chrominance (illumination invariant), luminance, or ”mixed” spaces are more effective? (4) In which scenes are the differences significant? We qualified the metrics both in color based clustering of the individual pixels and in the case of Bayesian foreground-background-shadow segmentation. Experimental results on real-life videos show that CIE L*u*v* color space is the most efficient

A közlekedésre fordított idő befolyásolása a munkakezdés időpontjának megváltoztatásával

A tanulmány a közforgalmú közlekedéssel lebonyolított munkába járás időtartamának csökkentési lehetőségét vizsgálta meg, felhasználva az utóbbi években felmerült, a munkakezdés időpontjának megváltoztatására vonatkozó munkaszervezési javaslatok kínálta lehetőségeket. A vizsgálat számszerűen igazolta a közlekedési időben rejlő tartalékok kiaknázhatóságának a lehetőségét. Nyolc órától eltérő munkakezdés esetén a vizsgált munkahelyen a munkába járásra fordított közlekedési időnek átlagosan 15%-a megtakaríthatónak bizonyult, bár a járműpark ritkítása nyomán a megnövekvő megállóhelyi várakozások miatt a közlekedés vélt, szubjektív előnyei nem feltétlenül arányosak a tapasztalt javulással. A munkakezdési idő kötöttségének a feloldása önmagában is hasonló megtakarítást jelent azáltal, hogy az utazási idő szórása miatt szükséges "biztonsági" idő, mint időveszteség elmarad. További előnye a rugalmas munkaidő-rendszernek, hogy - önszabályozó lévén - képes arra, hogy több órán át egyenletessé tegye a hálózati terhelést. Ezzel egyrészt csökken a zsúfoltság mértéke, másrészt a szállító-kapacitás gazdaságosan kihasználhatóvá válik. Ugyanakkor a rugalmas munkaidő-kezdéssel kapcsolatban megvizsgálandó, hogy milyen munkahelyen alkalmazható, és milyen intézkedéseket követel meg ahhoz, hogy valóban a jobb időgazdálkodást, és így a hatékonyabb munkát szolgálja