Basel I, II, III – we want it all at once

The complexity of Basel II and III has reached China as well. In a revolutionary turn within seven years, the Chinese bank regulator has introduced capital adequacy as the tool of choice for supervision and ensured that banks in the process remain focused on implementing all the bits of the internationally developed Basel Accords. Will it make Chinese banks really more resilient

中监为体、西监为用 or the specifics of Chinese bank regulation

The present paper aims to propose an explanation for the rationale behind the current banking regulatory arrangement in China. A now stable and relatively healthy banking system emerged largely unscathed from the financial crisis without relying much on recognised international best practices in bank supervision. China combines a strong regulatory hand together with a capital adequacy requirements stick, without much intervention of foreign or private institutions in the larger sense of the term. After an in-depth review of the Chinese framework we recognise that it is exactly this lip service to private monitoring mechanisms on top of restrictive regulators that allows for stability and growth - at least for now. China uses Chinese supervision as the core and western regulatory instruments as useful add-ons - a manner similar to the catch phrase used over a century ago to rejuvenate China.regulation, bank, china

Optical Multicast Routing Under Light Splitter Constraints

During the past few years, we have observed the emergence of new applications that use multicast transmission. For a multicast routing algorithm to be applicable in optical networks, it must route data only to group members, optimize and maintain loop-free routes, and concentrate the routes on a subset of network links. For an all-optical switch to play the role of a branching router, it must be equipped with a light splitter. Light splitters are expensive equipments and therefore it will be very expensive to implement splitters on all optical switches. Optical light splitters are only implemented on some optical switches. That limited availability of light splitters raises a new problem when we want to implement multicast protocols in optical network (because usual multicast protocols make the assumption that all nodes have branching capabilities). Another issue is the knowledge of the locations of light splitters in the optical network. Nodes in the network should be able to identify the locations of light splitters scattered in the optical network so it can construct multicast trees. These problems must be resolved by implementing a multicast routing protocol that must take into consideration that not all nodes can be branching node. As a result, a new signaling process must be implemented so that light paths can be created, spanning from source to the group members

'Worldly' pedagogy: a way of conceptualizing teaching towards global citizenship

In this paper, we discuss the characteristics of a form of pedagogy capable of addressing difference across nations and cultures in ways that do not inflate difference. We suggest that those conceptual insights are particularly relevant to the teaching of ‘global citizenship’. We have labelled this a ‘worldly’ pedagogy, because of the connection to teaching in a global context, and with reference to Arendt’s concept of ‘worldliness’ and the ‘worldly’ experience of human beings in their plurality sharing a ‘common world’ (Arendt 1958). Our conceptual framework results from our analysis of a specific educational environment which we investigated through a small grant obtained from the Higher Education Academy (UK) that examined the pedagogies used to promote learning amongst two polarised (Palestinian and Israeli) communities. We carried out eight interviews with participants to this programme, and report on the outcomes of this study. This paper contributes to the debate on tribal identities (Beck 2006; Hill 2000; Appiah 2006 for example) through the challenge it offers to positions on difference that display rigid essentialising identity readings and to homogenizing discourses that fail to appreciate the differences within cultures/nations/groups

Heuristic Solution to Protect Communications in WDM Networks using P-cycles

Optical WDM mesh networks are able to transport huge amount of information. The use of such technology however poses the problem of protection against failures such as fibre cuts. One of the principal methods for link protection used in optical WDM networks is pre-configured protection cycle (p-cycle). The major problem of this method of protection resides in finding the optimal set of p-cycles which protect the network for a given distribution of working capacity. Existing heuristics generate a large set of p-cycle candidates which are entirely independent of the network state, and from then the good sub-set of p-cycles which will protect the network is selected. In this paper, we propose a new algorithm of generation of p-cycles based on the incremental aggregation of the shortest cycles. Our generation of p-cycles depends on the state of the network. This enables us to choose an efficient set of p-cycles which will protect the network. The set of p-cycles that we generate is the final set which will protect the network, in other words our heuristic does not go through the additional step of p-cycle selectio

Performance Evaluation of the Labelled OBS Architecture

A comparison of three different Optical Burst Switching (OBS) architectures is made, in terms of performance criteria, control and hardware complexity, fairness, resource utilization, and burst loss probability. Regarding burst losses, we distinguish the losses due to burst contentions from those due to contentions of Burst Control Packets (BCP). The simulation results show that as a counterpart of an its additional hardware complexity, the labelled OBS (L-OBS) is an efficient OBS architecture compared to a Conventional OBS (C-OBS) as well as in comparison with Offset Time-Emulated OBS (E-OBS)