The regulation and supervision of domestic financial conglomerates

Financial conglomerates are groups of financial institutions related by ownership or control. Specific regulatory and supervisory issues arise when financial services -- such as commercial and retail banking, securities underwriting and trading, investment management, and insurance underwriting -- are provided by a financial conglomerate structure. The author provides a handbook for authorities responsible for financial conglomerate regulation and supervision, identifying key issues, spelling out regulatory and supervisory alternatives, and describing both preferred solutions and alternatives. He makes reference to the regulatory framework adopted in the European Economic Community. Among the main tools available to the authorities are prudential regulations, accounting consolidation, and consolidated supervision. Prudential regulation for financial conglomerates preferably would be applied on a uniform and fully consolidated basis. Alternatively, existing regulations applicable to different financial sectors can be modified, in particular to mitigate the potential that intragroup transactions overstate capital or earnings. Accounting consolidation of the financial entities in a group is a prerequisite for consolidated prudential regulation and improves the transparency of the group's financial position. The authorities should use consolidated supervision to ensure that the risks from all group entities are identified and assessed.Insurance&Risk Mitigation,Banks&Banking Reform,Financial Intermediation,National Governance,Environmental Economics&Policies

Experimental study on the scour due to a water jet subjected to lateral confinement

The effect of lateral confinement due to very close side walls, on erosion caused by a water jet issuing from a rectangular sluice aperture, has been studied experimentally in a narrow laboratory flume. Velocimetry (PIV) in presence of a smooth, no erodible bottom, revealed self-similar velocity profiles with the structure of a wall jet, but upward-shifted with respect to the classical two-dimensional profile. The classical definition of the Shields number was modified, to include the influence of the relative roughness and the inlet aspect ratio. This last coefficient was also relevant in the definition of a suitable length scale to account for the effect of the lateral confinement. Scour patterns in the narrow flume have also shown differences with respect to erosion by two-dimensional wall jets: the downstream mound undergoes a morphological transition, from triangular to trapezoidal, at the early stage of the scour development, and grains move downhill driven by gravity inside the granular wedge, in a regime of steady recirculation (SR). Above this regime, a digging–refilling (DR) cycle, with periods of the order of seconds, triggers at a well-defined Shields number.Fil: Martino, Román Gustavo. Consejo Nacional de Investigaciones Científicas y Técnicas; Argentina. Universidad de Buenos Aires. Facultad de Ingeniería. Departamento de Física. Grupo de Medios Porosos; ArgentinaFil: Ciani, Francisco García (EXT). Universidad de Buenos Aires. Facultad de Ingeniería. Departamento de Física. Grupo de Medios Porosos; ArgentinaFil: Paterson, Agnes (EXT). Universidad de Buenos Aires. Facultad de Ingeniería. Departamento de Hidráulica; ArgentinaFil: Piva, Marcelo Fabian. Universidad de Buenos Aires. Facultad de Ingeniería. Departamento de Física. Grupo de Medios Porosos; Argentin

PENGARUH BANTUAN LANGSUNG TUNAI TERHADAP KONSUMSI DAN PENDAPATAN MASYARAKAT MISKIN DI KECAMATAN SYIAH KUALA BANDA ACEH

Sehubungan dengan Program Pemerintah daJam menyalurkan Bantuan Langsung Tunai kepada masyarakat miskin di Indonesia, maka penu.lis mencoba melakukan penelitian penyaluran dana BLT terhadap konsumsi dan pendapatan masyarakat miskin di Kecamatan Syiah Kuala Banda Aceh. Sesuai dengan masalah yang akan dibahas, maka penelitian ini dilakukan di Kecamatan Syiah Kuala khususnya yang mendapatkan bantuan Dana BLT. Pemilihan rumah tangga sampel, untuk menjadi responden dari populasi yang ada, ditentukan dengan menggunakan metode "Complete Sensus". Dengan demikian setiap rumah tangga yang terdapat di dalam populasi mempunyai kesempatan yang sama untuk dipilih menjadi rumah tangga responden. Jumlahmasyarakat yang mendapatkan bantuan BLT di kecamatan tersebut sebanyak 35 orang. Hasil penelitian menunjukkan bahwa pendapatan masyarakat setelah menerima Bantuan Langsung Tunai di Kecamatan Syiah Kuala relatif mengalami peningkatan daya beli daJam konsumsi. Dana BLT yang digu.nakan langsung untuk konsumsi 65,7 persen dan yang menggunakan untuk modal usaha 34,3 persen. Tanggapan masyarakat bahwa dana bantuan langsung tunai relatif bermanfaat karena dapat meningkatkan pendapatan. Di sisi lain dana bantuan BLT yang dipergunakan untuk usaha hanya 5.7 persen saja yang meningkat dan peningkatan pendapatan yang terjadi hanya sedikit. Hubungan konsumsi dan Pendapatan setelah adanya dana Bantuan Langsung Tunai kecendrungan mengkonsumsi marjinal rata-rata dari 35 responden, MPC adalah 0,76, yang berarti bahwa 76 sen dari setiap tambahan atas pendapatan akan dikonsumsikan. Maka kecendrungan menabung marjinal rata-rata dari 35 responden, MPS adalah 0,24, yang berarti bahwa 24 sen dari setiap adanya tambahan atas pendapatan akan ditabung

Some characteristics of the M function methodology to describe the reinjection process in chaotic intermittency

The M function methodology allows calculating the statistical properties of intermittency in a broad class of one-dimensional maps. It has shown to be very accurate in type I, II, III and V intermittencies; and it also includes the uniform reinjection as a particular case. This paper studies some properties of the M function methodology. We establish the conditions that a reinjection probability density function must verify to obtain and we describe new pathological cases where the reinjection is not uniform, but the characteristic relation is the same that for uniform reinjection.Fil: Elaskar, Sergio Amado. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Córdoba. Instituto de Estudios Avanzados en Ingeniería y Tecnología. Universidad Nacional de Córdoba. Facultad de Ciencias Exactas Físicas y Naturales. Instituto de Estudios Avanzados en Ingeniería y Tecnología; ArgentinaFil: del Rio, Ezequiel(EXT). Universidad Politécnica de Madrid; EspañaFil: Gutierrez Marcantoni, Luis Felipe. Universidad Nacional de Córdoba. Facultad de Ciencias Exactas, Físicas y Naturales. Departamento de Aeronáutica; Argentin