The Bank of Canada as Lender of Last Resort

As the ultimate provider of Canadian-dollar liquidity to the financial system, the Bank of Canada has the unique capacity to create Canadian-dollar claims on the central bank and the power to make secured loans or advances to chartered banks and other members of the Canadian Payments Association. The Bank supplies overnight credit on a routine basis through the Standing Liquidity Facility (SLF) to direct participants in the Large Value Transfer System, and Emergency Lending Assistance (ELA) to solvent deposit-taking institutions that require more substantial and prolonged credit. The authors review the policy framework that guides the Bank's lender-of-last-resort function, including the key issues, terms and conditions, and eligibility criteria associated with its SLF and ELA activities. Also discussed are foreign currency ELA, the relationship between SLF and ELA, systemic risk and Bank of Canada intervention, and the potential provision of liquidity to major clearing and settlement systems.

Consistent Testing for Recurrent Genomic Aberrations

Genomic aberrations, such as somatic copy number alterations, are frequently observed in tumor tissue. Recurrent aberrations, occurring in the same region across multiple subjects, are of interest because they may highlight genes associated with tumor development or progression. A number of tools have been proposed to assess the statistical significance of recurrent DNA copy number aberrations, but their statistical properties have not been carefully studied. Cyclic shift testing, a permutation procedure using independent random shifts of genomic marker observations on the genome, has been proposed to identify recurrent aberrations, and is potentially useful for a wider variety of purposes, including identifying regions with methylation aberrations or overrepresented in disease association studies. For data following a countable-state Markov model, we prove the asymptotic validity of cyclic shift $p$-values under a fixed sample size regime as the number of observed markers tends to infinity. We illustrate cyclic shift testing for a variety of data types, producing biologically relevant findings for three publicly available datasets.Comment: 35 pages, 7 figure

Market Structure in the Residential Real Estate Brokerage Market

This study provides empirical evidence regarding brokerage firm concentration in a local market multiple listing service setting over the year 1992-1995. To evaluate the level of brokerage firm concentration in this market, Gini Coefficients, Herfindahl-Hirschman Indices and Concentration Ratios for each year of the study period are calculated. Our results indicate that for firms responsible for listing properties, firm concentration has not varied substantially over the four-year study period. However, for those firms that were responsible for actually selling properties, firm concentration has decreased over the study period. This finding tends to indicate that the MLS now provides greater exposure to a wide variety of sales firms, therefore leading to a higher level of competition with a lower level of concentration for selling firms in this local market.

Deed I Do

With Ukulele arrangement. Contains advertisements and/or short musical examples of pieces being sold by publisher.https://digitalcommons.library.umaine.edu/mmb-vp/7068/thumbnail.jp

I\u27m Going Where The Flowers Always Bloom, Mamma

https://digitalcommons.library.umaine.edu/mmb-vp/5758/thumbnail.jp

Sharing a Mental Number Line Across Individuals?:The Role of Body Position and Empathy in Joint Numerical Cognition

A growing body of research shows that the human brain acts differently when performing a task together with another person than when performing the same task alone. In this study, we investigated the influence of a co-actor on numerical cognition using a joint random number generation (RNG) task. We found that participants generated relatively smaller numbers when they were located to the left (vs. right) of a co-actor (Experiment 1), as if the two individuals shared a mental number line and predominantly selected numbers corresponding to their relative body position. Moreover, the mere presence of another person on the left or right side or the processing of numbers from loudspeaker on the left or right side had no influence on the magnitude of generated numbers (Experiment 2), suggesting that a bias in RNG only emerged during interpersonal interactions. Interestingly, the effect of relative body position on RNG was driven by participants with high trait empathic concern towards others, pointing towards a mediating role of feelings of sympathy for joint compatibility effects. Finally, the spatial bias emerged only after the co-actors swapped their spatial position, suggesting that joint spatial representations are constructed only after the spatial reference frame became salient. In contrast to previous studies, our findings cannot be explained by action co-representation because the consecutive production of numbers does not involve conflict at the motor response level. Our results therefore suggest that spatial reference coding, rather than motor mirroring, can determine joint compatibility effects. Our results demonstrate how physical properties of interpersonal situations, such as the relative body position, shape seemingly abstract cognition

Founders\u27 Day 1960

Founders\u27 Day 1960 with speakers President Harvey Rice, Professor O.T. Walter, as well as Edmund Wood, Kay Lorans, Fred Koch, and George Bonniwell. Reel #3

Propagation of a Rapid Growing Semi-Evergreen Hybrid Oak.

32 p