12,529 research outputs found

    Multiple safety net regulators and agency problems in the EU: is Prompt Corrective Action a partial solution?

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    Prompt Corrective Action (PCA) provides a more efficient mechanism for dealing with problem banks operating in more than one European country. In a PCA framework, a bank’s losses are likely to be substantially reduced. This reduction in the losses to deposit insurance and governments will improve the problem of allocating those losses across the various insurance schemes and make it less likely that any deposit insurer will renege on its obligations in a cross-border banking crisis. This paper explores the institutional changes needed in Europe if PCA is to be effective in resolving the cross-border agency problems that arise in supervising and resolving cross-border banking groups. The paper identifies these changes starting with enhancements in the availability to prudential supervisors of information on banking groups’ financial condition. Next, the paper considers collective decision-making by prudential supervisors with authority to make discretionary decisions within the PCA framework as soon as a bank of a cross-border banking group falls below the minimum capital standard. Finally, the paper analyses the coordination measures that should be implemented if PCA requires the bank to be resolved.banking supervision; European Union; Prompt Corrective Action

    Multiple safety net regulators and agency problems in the European Union: Is prompt corrective action partly the solution?

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    This paper discusses the institutional changes needed in Europe if prompt corrective action (PCA) is to be effective in supervising and resolving cross-border banking groups. The paper identifies these changes starting with enhancements in the availability of information on banking groups’ financial condition to prudential supervisors. Next, the paper considers the collective decision making by prudential supervisors with authority to make discretionary decisions within the PCA framework as soon as a bank in a cross-border banking group falls below the minimum capital standard. Finally, the paper analyzes the coordination measures that should be implemented if PCA requires the bank to be resolved.

    Public Perceptions of the Dioxin Crisis in Irish Pork

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    In early December 2008, a global recall of Irish pork was initiated as a result of a subset of the national pork output being contaminated with dioxin. In this study, members of a panel from an internet-based longitudinal monitor of public opinion on food and health, was used to assess public perceptions about the dioxin incident in late December. A larger proportion of respondents reported that that there was a 'very high' health risk from pork (8.6 %) than any other food of animal origin. The risk posed to human health from dioxins was considered to be relatively high compared to a broad range of potential food and non-food risks. The majority of respondents (70.5 %) accepted that the way in which the authorities managed the crisis was 'adequate' or 'very efficient'. These findings should be considered in light of the following facts: the European Food Safety Authority and the Irish authorities announced that there was no risk to human health from the dioxins in pork, there was extensive media attention about the dioxin incident, and the Irish Government had to introduce a 200 million euro compensation package for the Irish pork industry which was funded by the Irish taxpayer.food risk, dioxins, consumer risk perception

    Everyday Ecologies in the Writings of Georgia Authors Tina McElroy Ansa, Melissa Fay Greene, Mary Hood, and Janisse Ray

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    Four Georgia women authors focus on different but equally important components of life: the natural environment of Janisse Ray, relationships in Mary Hood, culture in Tina McElroy Ansa, and sociological history in Melissa Fay Greene. While the focus of the writings by these authors overlap, their various approaches examined together reveal the essential areas where contemporary society has lost its way. All four argue how not to live by pointing out examples of negative actions and the consequences of human carelessness. Through compelling stories, these four authors show us how to preserve and improve our environment, our relationships, our culture, and our history. Ansa, Greene, Hood, and Ray are all from Georgia and write about both Georgia and the world from the perspective of contemporary Georgia. However, these four authors do not defend or deny the atrocities of the South but rather attempt to make reparations through better ideas, improved behavior, and a portrayal of southern places and people that acknowledges the wrongs of present and past and brings healing and growth to humans and to the environment. What unites all four authors is their dual purpose and more importantly a dual positive effect. Readers are entertained, but they are also motivated to act more consciously in their own relationships and in their environments. All four authors promote the theme of nurture and care, often by revealing real people or characters who are careless or who fail to nurture
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