Recent changes to the Federal Reserve's survey of terms of business lending

The Federal Reserve's quarterly Survey of Terms of Business Lending, which has been conducted for more than twenty years, collects information on interest rates and other characteristics of commercial bank business loans. The survey has been changed from time to time to recognize innovations in bank lending practices and to improve the measurement of the desired information. The most recent changes took effect with the May 1997 survey. The major improvement was the addition of an item measuring loan risk. In addition, the reporting panel, which had been limited to domestically chartered commercial banks was expanded to include a sample of U.S. branches and agencies of foreign banks, which now account for a significant proportion of business lending to U.S. firms. This article discusses the most recent changes made to the survey and presents some information now available from the new items being reported. It also summarizes information about the use of loan risk ratings from consultations conducted with a sample of the survey respondents during the process of planning the revisions to the survey.Commercial loans

The economic performance of small banks, 1985-2000

Several trends in the financial industry over the past decade and a half have potentially threatened the competitiveness of small banks. Among these developments are the numerous mergers that increased the size and scope of large banks and the increased competition from mutual funds and other nonbank financial institutions. This article examines the economic performance of small banks during the 1985-2000 period by focusing on their ability to attract and profitably intermediate insured and uninsured deposits. It finds that the expansion of deposits and assets at small banks, when adjusted to account for the effects of mergers on measured growth, has consistently exceeded the growth at large banks. Moreover, the profitability of small banks has risen to high levels over the period. These indications of strength among small banks as a whole also hold true for subgroups within the small bank sector. Aside from their success in attracting deposits, the key reasons for the generally good performance of small banks in recent years appear to be their ability to earn relatively high rates of return on their loans and an increase in the share of their portfolios devoted to loans.Bank mergers ; Bank size

Territorial development, planning reform and urban governance: the case of Ireland's second-tier cities

The increased emphasis within Europe on the role of second-tier cities has implications for the ways in which these urban centres are considered within national spatial planning strategies. In centralised, monocentric states like Ireland, there has been a general ambivalence towards urban policy for cities outside the capital city, and historically this has prevented the development of a strong, diversified urban hierarchy undermining prospects for balanced regional development. This paper examines the extent to which a new found emphasis on Ireland’s second-tier cities which emerged in the ‘Gateways’ policy of the National Spatial Strategy (NSS, 2002) was matched by subsequent political and administrative commitment to facilitate the development of these urban centres. Following a discussion of the position of second-tier cities in an international context and a brief overview of recent demographic and economic trends, the paper assesses the relative performance of Ireland’s second-tier cities in influencing development trends, highlighting a comprehensive failure to deliver compact urban growth. In this context, the paper then discusses the implications of current development plans for the second-tier cities and proposals for Irish local government reform for securing compact urban development

Who is pivotal? : a case study in changing ideology and tradition in the Texas Senate

Shortly after the Texas Senate gaveled in the 84th Regular Session, they amended the method by which legislation is brought to the floor for full debate. This process, used for approximately seventy years, required two-thirds of the Senators present to support suspending the rules to bring forward a bill. In making this change, the Senators fundamentally altered not only policy development in the state, but also, who was pivotal in making the decision to consider legislation. This research will explore the history of the Senate’s two-thirds tradition and some of the numerous instances in which it was circumvented. Additionally, it will analyze a subset of bills that, but for the rule change, would not have been considered to determine the pivotal players in the Senate. It will then use that analysis to examine specific policy changes related to county and municipal land use planning and authorityPublic AffairsCommunity and Regional Plannin

Why Do People Seek Negative Emotions? A Solution to Hume\u27s Puzzle

In his 1757 essay “Of Tragedy”, Hume reflected on a curious puzzle about emotions. Sometimes people seek out emotions or experiences that are typically negative and associated with displeasure or pain. People often desire to watch horror films that will make them scared or listen to music that will make them sad. Some people even engage in the pursuit of negative emotions on a regular basis such as in the case of thrill-seeking. In this paper my goal is to update Hume’s puzzle with empirical evidence from the affective sciences and argue for two conclusions. First I will argue that Hume’s puzzle still runs deep. Though some recent scientific and philosophical accounts of emotions have tried to solve it, they have thus far failed. Second I attempt to construct a psychological account that solves the puzzle. Instead of focusing on how emotions are generated as previous theories have done, I argue that what is important is how emotions are regulated

Investigation of Lithium Ion Battery Electrodes: Using Mathematical Models Augmented with Data Science to Understand Surface Layer Formation, Mass Transport, Electrochemical Kinetics, and Chemical Phase Change

This thesis first uses physical scale models to investigate solid-state phenomena - surface layer formation, solid-state diffusion of lithium, electrochemical reactions at the solid-electrolyte interface, as well as homogeneous chemical phase change reactions. Evidence is provided that surface layer formation on the magnetite, Fe3O4, electrode can accurately be described mathematically as a nucleation and growth process. To emulate the electrochemical results of the LiV3O8 electrode, a novel method is developed to capture the phase change process; this method describes phase change as a nucleation and growth process. The physical parameters of the LiV3O8 electrode: the solid-state diffusion coefficient, phase change saturation concentration, phase reaction rate constant, and exchange current density, are all quantified and the agreement with experimental results is compelling. Electrochemical evidence, corroborated by results from density functional theory, indicate that delithiation is a more facile process than lithiation in the LiV3O8 electrode. Further investigation of the LiV3O8 electrode is undertaken by coupling the crystal scale model to electrode scale phenomena. Characterization of the LiV3O8 electrode by operando EDXRD experiments provides a unique and independent set of observations that validate the previously estimated physical constants for the phase change saturation concentration and phase change reaction rate constant; they are both found to be consistent with their previous estimates. Finally, it is observed that anodic physical phenomena are important during delithiation of the cathode because the kinetics at the anode become mass-transfer limited. Finally, it is illustrated that coupling physical models to data science and algorithmic computing is an effective method to accelerate model development and quantitatively guide the design of experiments