УДОСКОНАЛЕННЯ ФІНАНСОВОГО НАГЛЯДУ НА ОСНОВІ ВПРОВАДЖЕННЯ МІЖНАРОДНИХ ПРИНЦИПІВ

The article is devoted to the problem of financial supervision system compliance in the countries with the international principles and the best world practices. The main international principles of effective banking supervision, insurance and regulation of the securities market are analyzed. We developed a scientific and methodological approach to assessing the country's financial supervision compliance with international principles, which allows to determine the dynamics of development and improvement of financial supervision in banking, insurance and securities segments of the financial sector. A scale for translating financial supervisory compliance assessments into international principles was developed and statistical tools of arithmetic weighted and geometric mean were used to summarize the implementation of Core Principles for Effective Banking Supervision, Insurance Core Principles and Objectives and Principles of Securities Regulation. The average level the implementation of each of the principles of Effective Banking Supervision, Insurance Core Principles and Objectives and Principles of Securities Regulation is determined. Banking Supervision has been assessed to international principles in countries such as Austria, Bulgaria, Canada, Germany, Denmark, United Kingdom, Georgia, Hong Kong, Republic of Korea, Moldova, New Zealand, Russian Federation, Turkey, United States of America, South Africa, Insurance Supervision — Canada, Denmark, Hong Kong, Ireland, New Zealand, Turkey, United States of America, South Africa, securities market surveillance and financial supervision in general — Canada, Hong Kong, United States of America, South Africa. The work identifies key areas of modern and innovative development of the financial supervision system. The paper identifies key areas of modern and innovative development of the financial supervision. Our results showed that increasing the compliance of financial supervision with international standards can be ensured primarily through the introduction of risk-oriented financial supervision, improvement of corporate governance and disclosure of financial reporting by financial intermediaries.Розглянуто питання відповідності системи фінансового нагляду в країнах світу міжнародним принципам фінансового нагляду i найкращим світовим практикам. Проаналізовано основні принципи ефективного банківського нагляду, страхування i регулювання ринку цінних паперів. Розроблено науково-методичний підхід до оцінювання відповідності фінансового нагляду країни міжнародним принципам, що дозволяє визначати динаміку розбудови і поліпшення фінансового нагляду в різних сегментах фінансового сектору — банківському, страховому та цінних паперів. Для узагальненого оцінювання впровадження Основних принципів ефективного банківського нагляду, Ключових принципів страхування та Цілей і принципів регулювання цінних паперів розроблено шкалу переведення оцінок відповідності фінансового нагляду міжнародним принципам у бали та використано статистичний інструментарій середньої арифметичної зваженої та середньої геометричної Визначено середній рівень дотримання кожного з принципів ефективного банківського нагляду, страхування і регулювання ринку цінних паперів. Здійснено оцінювання відповідності банківського нагляду міжнародним принципам у таких країнах, як Австрія, Болгарія, Канада, Німеччина, Данія, Велика Британія, Грузія, Гонконг, Республіка Корея, Молдова, Нова Зеландія, Російська Федерація, Туреччина, Сполучені Штати Америки, Південна Африка, страхового нагляду — Канада, Данія, Гонконг, Ірландія, Нова Зеландія, Туреччина, Сполучені Штати Америки, Південна Африка, нагляду на ринку цінних паперів і фінансового нагляду в цілому — Канада, Гонконг, Сполучені Штати Америки, Південна Африка. Ідентифіковано ключові напрями сучасного та інноваційного розвитку системи фінансового нагляду. Визначено, що підвищення відповідності фінансового нагляду міжнародним стандартам може бути забезпечене передусім за рахунок упровадження ризик-орієнтованого фінансового нагляду, удосконалення корпоративного управління та розкриття фінансової звітності фінансових посередників

Macroprudential policy in the dilemma “Financial stability – financial development”

Financial systems of all over the world had really faced with great shocks and disbalances in the past decade. Since the financial crisis of 2008, the health of the financial sector has become one of the hot topics in public debate and economic research regardless of the development level of the country. Financial intermediaries have suffered through a variety of things such as volatility in financial markets, utter failures, asset bubbles, etc. So regulatory and supervisory authorities revise a set of requirements to their providing capital adequacy, liquidity, effective risk management, activities of systemic financial intermediaries, financial groups and conglomerates. The main aim of this is to frame the policy response to these and other threats, prevent the new wave of a financial crisis, enhancing competitiveness and efficiency of the financial sector, providing well-designed financial supervision and regulation

Macroprudential policy in the dilemma “Financial stability – financial development”

Financial systems of all over the world had really faced with great shocks and disbalances in the past decade. Since the financial crisis of 2008, the health of the financial sector has become one of the hot topics in public debate and economic research regardless of the development level of the country. Financial intermediaries have suffered through a variety of things such as volatility in financial markets, utter failures, asset bubbles, etc. So regulatory and supervisory authorities revise a set of requirements to their providing capital adequacy, liquidity, effective risk management, activities of systemic financial intermediaries, financial groups and conglomerates. The main aim of this is to frame the policy response to these and other threats, prevent the new wave of a financial crisis, enhancing competitiveness and efficiency of the financial sector, providing well-designed financial supervision and regulation

Characterization of complex fractionated atrial electrograms by sample entropy: An international multi-center study

Atrial fibrillation (AF) is the most commonly clinically-encountered arrhythmia. Catheter ablation of AF is mainly based on trigger elimination and modification of the AF substrate. Substrate mapping ablation of complex fractionated atrial electrograms (CFAEs) has emerged to be a promising technique. To improve substrate mapping based on CFAE analysis, automatic detection algorithms need to be developed in order to simplify and accelerate the ablation procedures. According to the latest studies, the level of fractionation has been shown to be promisingly well estimated from CFAE measured during radio frequency (RF) ablation of AF. The nature of CFAE is generally nonlinear and nonstationary, so the use of complexity measures is considered to be the appropriate technique for the analysis of AF records. This work proposes the use of sample entropy (SampEn), not only as a way to discern between non-fractionated and fractionated atrial electrograms (A-EGM), but also as a tool for characterizing the degree of A-EGM regularity, which is linked to changes in the AF substrate and to heart tissue damage. The use of SampEn combined with a blind parameter estimation optimization process enables the classification between CFAE and non-CFAE with statistical significance (p < 0:001), 0.89 area under the ROC, 86% specificity and 77% sensitivity over a mixed database of A-EGM combined from two independent CFAE signal databases, recorded during RF ablation of AF in two EU countries (542 signals in total). On the basis of the results obtained in this study, it can be suggested that the use of SampEn is suitable for real-time support during navigation of RF ablation of AF, as only 1.5 seconds of signal segments need to be analyzed

Quality of Education and Innovation-Driven Development: the New Ukrainian School Reform

Introduction. Accelerating human progress is a result of the growing role of innovations. This requires the development of an innovative person as an effective actor of their implementation and support. Primary, and secondary education is very important factor for this. The New Ukrainian School (NUS) reform that has been being implemented since 2016 shall adequately meet current challenges and trends. Problem Statement. To this end, it is very important to identify the key intra-system and contextual factors influencing the quality of school education, first of all in reading, mathematics, and natural sciences, in terms of the development of an innovative person. Purpose. The purpose of this research is to determine the endogenous (internal) and exogenous (external) factors that effectively influence the educational quality, in order to optimize the NUS implementation in the present-day conditions. Materials and Methods. Multifactor system analysis (in particular statistical, correlation, and comparative techniques) of big global databases on human development, international assessment of the quality of primary and basic secondary education, development of world research and university spheres and features of the NUS implementation in Ukraine. Results. The probable global connections between the quality of school education and the factors of internal educational and external contextual impact on the educational quality have been identified. Among the considered nine factors effecting the quality of student education in reading, mathematics, and science, the most influential (resonant) and stable are the endogenous ones, namely, the mean years of schooling, and the share of R&D expenditure in GDP, with the latter having a greater impact. The recommendations for improving the efficiency of the NUS have been given. Conclusions. The effectiveness of school education reform, in particular, NUS, may be raised by taking into account the deterministic effect of endogenous and exogenous factors on the quality of education.Вступ. Прискорення прогресу людства зумовлене зростанням ролі інновацій, що потребує формування ефективногосуб’єкта їх здійснення та підтримки — інноваційної людини, за формування якої відповідальна сфера освіти, особливо початкова та середня освітні ланки. Реформа «Нова українська школа» (НУШ), яка впроваджується з 2016 р., має адекватно спрямовуватися з огляду на сучасні виклики й тенденції. Проблематика. Важливою в цьому контексті є ідентифікація ключових внутрішньосистемних і контекстуальних факторів впливу на якість шкільної освіти, насамперед з читання, математики, природничих наук, задля розвиткуінноваційної людини. Мета. З’ясування ендогенних та екзогенних чинників ефективного впливу на освітню якість для оптимізації реалізації НУШ у сучасних умовах. Матеріали й методи. Використано багатофакторний системний аналіз, зокрема статистичний, кореляційний, порівняльний, метод великих баз нових глобальних даних щодо людського розвитку, міжнародного оцінювання якості початкової і базової середньої освіти, розвитку світової наукової й університетської сфер та особливостей впровадження НУШ в Україні. Результати. З’ясовано глобальні вірогідні зв’язки між якістю шкільної освіти та факторами внутрішньо-освітянського та зовнішньо-контекстуального впливу на якість освіти. З-поміж розглянутих дев’яти чинників якості освіти школярів з читання, математики і природничих наук, особливо впливовими (резонансними) і стійкими виявилисяендогенна фактична тривалість освіти та екзогенна частка ВВП, що спрямовується на наукову сферу. При цьому впливовість зазначеної частки ВВП більша, ніж тривалості освіти. Обґрунтовано рекомендації щодо підвищення ефективності НУШ. Висновки. Підвищити результативність реформування шкільної освіти, зокрема на засадах НУШ, можна шляхом урахування детерміністичної дії на якість освіти низки ендо- і екзогенних факторів впливу

A Discriminant Analysis of Insurance Companies in Ukraine

Determining and forecasting the financial situation of insurance companies of Ukraine has become an important issue of financial supervision in view of the need to ensure the sustainability of the financial sector and reduce the negative impact of the insolvency of insurance companies. Given the significant number of bankruptcies of insurance companies in Ukraine in recent years, a discriminatory method may be applied to improve off-site financial supervision. The paper analyzes the advantages and disadvantages of discriminatory models developed for companies producing goods and providing non-financial services to banking institutions and insurance companies. It is substantiated that in order to improve the quality of estimation and forecasting of the financial state of insurance companies in Ukraine, the development of a discriminant model should take into account the domestic specificity of the insurance business. The scientific work defines the stages of development and testing of the quality of a discriminant model for determining the financial status of insurance companies in Ukraine. For the development of a discriminant model, taking into account the existing statistical base, 31 indicators of activity of 12 insurance companies for 2015 were selected. The selection of statistical indicators for use as factors in a discriminant model was performed on the basis of a two-choice F-test, a Farrar-Globard algorithm, a matrix of pair coefficients of correlation. A discriminatory model for determining the financial status of insurance companies in Ukraine included net returns on equity, asset turnover ratios, insurance risk rates, and changes in equity. The application of the model allows you to determine whether the insurance company has a satisfactory or unsatisfactory financial condition. Approval of the developed discriminant model has proven its high quality

Collating and validating indigenous and local knowledge to apply multiple knowledge systems to an environmental challenge: A case-study of pollinators in India

There is an important role for indigenous and local knowledge in a Multiple Evidence Base to make decisions about the use of biodiversity and its management. This is important both to ensure that the knowledge base is complete (comprising both scientific and local knowledge) and to facilitate participation in the decision making process. We present a novel method to gather evidence in which we used a peer-to-peer validation process among farmers that we suggest is analogous to scientific peer review. We used a case-study approach to trial the process focussing on pollinator decline in India. Pollinator decline is a critical challenge for which there is a growing evidence base, however, this is not the case world–wide. In the state of Orissa, India, there are no validated scientific studies that record historical pollinator abundance, therefore local knowledge can contribute substantially and may indeed be the principle component of the available knowledge base. Our aim was to collate and validate local knowledge in preparation for integration with scientific knowledge from other regions, for the purpose of producing a Multiple Evidence Base to develop conservation strategies for pollinators. Farmers reported that vegetable crop yields were declining in many areas of Orissa and that the abundance of important insect crop pollinators has declined sharply across the study area in the last 10–25 years, particularly Apis cerana, Amegilla sp. and Xylocopa sp. Key pollinators for commonly grown crops were identified; both Apris cerana and Xylocopa sp. were ranked highly as pollinators by farmer participants. Crop yield declines were attributed to soil quality, water management, pests, climate change, overuse of chemical inputs and lack of agronomic expertise. Pollinator declines were attributed to the quantity and number of pesticides used. Farmers suggested that fewer pesticides, more natural habitat and the introduction of hives would support pollinator populations. This process of knowledge creation was supported by participants, which led to this paper being co-authored by both scientists and farmers

The Relationship Between IQ, Memory, Executive Function, and Processing Speed in Recent-Onset Psychosis: 1-Year Stability and Clinical Outcome

Studies commonly report poor performance in psychotic patients compared with controls on tasks testing a range of cognitive functions, but, because current IQ is often not matched between these groups, it is difficult to determine whether this represents a generalized deficit or specific abnormalities. Fifty-three first-episode psychosis patients and 53 healthy controls, one-to-one matched for sex, age, and full-scale current IQ, were compared on Wechsler Adult Intelligence Scale (WAIS) subtests representing indices of perceptual organization, verbal comprehension, processing speed, and working memory as well as other tests of executive function and episodic memory. The groups showed an equivalent pattern of performance on all WAIS subtests except digit symbol processing speed, on which the patients were significantly worse. Patients were also worse on measures where performance correlated with digit symbol score, namely working and verbal memory tasks. Standardized residual scores for each subtest were calculated for each patient using the difference between their actual subtest score and a predicted subtest score based on their full-scale IQ and the performance of controls. Scaled scores and residual scores were examined for relationships with clinical measures. Digit symbol–scaled score was significantly correlated with concurrent negative syndrome score at baseline, and digit symbol residual score significantly predicted residual negative symptoms at 1-year follow-up. In summary, our comparison of patients and controls precisely matched for IQ revealed that processing speed was attenuated in recent-onset schizophrenia, contributed significantly to working and episodic memory deficits, and was a prognostic factor for poor outcome at 1 year

Distributed brain co-processor for tracking spikes, seizures and behaviour during electrical brain stimulation

Early implantable epilepsy therapy devices provided open-loop electrical stimulation without brain sensing, computing, or an interface for synchronized behavioural inputs from patients. Recent epilepsy stimulation devices provide brain sensing but have not yet developed analytics for accurately tracking and quantifying behaviour and seizures. Here we describe a distributed brain co-processor providing an intuitive bi-directional interface between patient, implanted neural stimulation and sensing device, and local and distributed computing resources. Automated analysis of continuous streaming electrophysiology is synchronized with patient reports using a handheld device and integrated with distributed cloud computing resources for quantifying seizures, interictal epileptiform spikes and patient symptoms during therapeutic electrical brain stimulation. The classification algorithms for interictal epileptiform spikes and seizures were developed and parameterized using long-term ambulatory data from nine humans and eight canines with epilepsy, and then implemented prospectively in out-of-sample testing in two pet canines and four humans with drug-resistant epilepsy living in their natural environments. Accurate seizure diaries are needed as the primary clinical outcome measure of epilepsy therapy and to guide brain-stimulation optimization. The brain co-processor system described here enables tracking interictal epileptiform spikes, seizures and correlation with patient behavioural reports. In the future, correlation of spikes and seizures with behaviour will allow more detailed investigation of the clinical impact of spikes and seizures on patients