Multidisciplinary Rectal Cancer Management: 2nd European Rectal Cancer Consensus Conference (EURECA-CC2)

International Nuclear Information System (INIS)

Valentini, Vincenzo; Aristei, Cynthia; Glimelius, Bengt; Minsky, Bruce D.; Beets-Tan, Regina; Borras, Jose M.; Haustermans, Karin; Maingon, Philippe; Overgaard, Jens; Pahlman, Lars; Quirke, Phil; Schmoll, Hans-Joachim; Sebag-Montefiore, David; Taylor, Irving; Van Cutsem, Eric; Velde, Cornelius Van de; Cellini, Numa; Latini, Paolo

2009-01-01

Background and purpose: During the first decade of the 21st century a number of important European randomized studies were published. In order to help shape clinical practice based on best scientific evidence from the literature, the International Conference on 'Multidisciplinary Rectal Cancer Treatment: Looking for an European Consensus' (EURECA-CC2) was organized in Italy under the endorsement of European Society of Medical Oncology (ESMO), European Society of Surgical Oncology (ESSO), and European Society of Therapeutic Radiation Oncology (ESTRO). Methods: Consensus was achieved using the Delphi method. The document was available to all Committee members as a web-based document customized for the consensus process. Eight chapters were identified: epidemiology, diagnostics, pathology, surgery, radiotherapy and chemotherapy, treatment toxicity and quality of life, follow-up, and research questions. Each chapter was subdivided by a topic, and a series of statements were developed. Each member commented and voted, sentence by sentence thrice. Sentences upon which an agreement was not reached after voting round no. 2 were openly debated during a Consensus Conference in Perugia (Italy) from 11 December to 13 December 2008. A hand-held televoting system collected the opinions of both the Committee members and the audience after each debate. The Executive Committee scored percentage consensus based on three categories: 'large consensus', 'moderate consensus', and 'minimum consensus'. Results: The total number of the voted sentences was 207. Of the 207, 86% achieved large consensus, 13% achieved moderate consensus, and only 3 (1%) resulted in minimum consensus. No statement was disagreed by more than 50% of the members. All chapters were voted on by at least 75% of the members, and the majority was voted on by >85%. Conclusions: This Consensus Conference represents an expertise opinion process that may help shape future programs, investigational protocols, and guidelines

European banks in Ukraine: Modelling risks, rewards and making forecasts

Directory of Open Access Journals (Sweden)

Helen Kostyuk

2014-12-01

Full Text Available The new model for banking control and regulation, suggested by Basel III, together with high dividend expectations of shareholders have fostered the transformation of the business model in European banking. The scale of market shares no longer plays an important role in banking business. The emphasis is now laid on its efficiency. It is determined by ROE indicators, the positive dynamics of which serves as: a good indicator for ensuring a proper level of capital adequacy of the bank and reducing systemic risks; a precondition for meeting the dividend expectations of shareholders; evidence of effective management of capital assets and bank costs. Thus, assessing and preventing the outflow of foreign capital from the national banking sector, the national market regulators should clearly understand the motivation behind it and take into account the business strategies of parent European banks, which include the following points: low liquidity of the stock market of the Eurozone, which significantly complicates the process of capitalization of European banking institutions, and inability to attract capital in sufficient amounts; potential opportunity for capitalization of banks (to meet the requirements of Basel III in the context of bank management and shareholders relations (improvement of profit management policy and dividend policy; optimization of asset management policy in order to reduce RWA assets in the assets of both parent and subsidiary banks

EUROPEAN INVESTMENT BANK'S ROLE IN ECONOMIC DEVELOPMENT OF ROMANIA AND EUROPE

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HAGIU ALINA

2014-10-01

Full Text Available European Investment Bank is the European Union's financial institution. It finances investment projects to contribute to the balanced development of the Union. At the same time "bank" and "body" of the European Union, it contributes to the achievement of the European Union objectives by funding projects to promote European integration, balanced development, economic and social cohesion and the development of an economy based on innovation. Today, the EIB exists on the capital markets with the best quote, “Triple A”. This quote allows it to mobilize in highly competitive conditions, the most important financial volume required to support investments. As an institution, EIB continuously adapts its working mode to changes in EU policies. As a bank, it works closely with the banking community, both for loans on the capital markets as well as for financing investments.

Ownership Concentration and Market Value of European Banks

DEFF Research Database (Denmark)

Busta, Ildura; Sinani, Evis; Thomsen, Steen

2014-01-01

This paper investigates the relationship between ownership concentration and market value of European banks, and the role of the institutional environment in shaping this relationship. Using GMM dynamic estimator on a sample of European banks over a 13-year period (1993–2005) we find on average...... concentration is positive in Scandinavia. We propose that, besides the legal protection of small investors, the differences in the impact of ownership concentration across the countries could be due to the identity of the predominant owners, i.e. financial institutions in Germany and trusts and foundations...... a negative effect of ownership concentration on bank value, measured by Tobin's Q. However, this effect varies across different institutional settings; while higher ownership concentration results in a lower bank value particularly in the countries belonging to German legal family, the impact of ownership...

Bank regulatory Capital Buffer and Liquidity: Evidence from US and European Publicly Traded Banks

OpenAIRE

Distinguin , Isabelle; Roulet , Caroline; Tarazi , Amine

2012-01-01

The theory of financial intermediation highlights various channels through which capital and liquidity are interrelated. Using a simultaneous equations framework, we investigate the relationship between bank regulatory capital buffer and liquidity for European and U.S. publicly traded commercial banks. Previous research studying the determinants of bank capital buffer has neglected the role of liquidity. On the whole, we find that banks do not strengthen their regulatory capital buffer when t...

Product Diversification in the European Banking Industry: Risk and Loan Pricing Implications

OpenAIRE

Lepetit , Laetitia; Nys , Emmanuelle; Rous , Philippe; Tarazi , Amine

2005-01-01

The purpose of this paper is to investigate the relationship between bank risk and product diversification in the changing structure of the European banking industry. Based on a broad set of European banks for the period 1996-2002, our study shows that banks expanding into non-interest income activities present higher risk than banks which mainly supply loans. Whereas previous studies (mainly on U.S. banks) focused on portfolio diversification effects we explore risk implications of cross-sel...

The Impact of Basel III on European Banks

OpenAIRE

Šútorová, Barbora

2013-01-01

The aim of this thesis is to take a closer look on how the stricter capital requirements defined in the Basel III framework will influence European banks from a complex point of view - lending rates and volumes of provided loans, profitability, risk taking and market value of banks. Our analysis employing simultaneous equations and panel data models on exp post data on almost 600 banks operating in the EU in the 2005-2011 period reports following results: (1) Those banks that will be forced t...

THE EUROPEAN CENTRAL BANK AND THE EUROZONE CRISIS MANAGEMENT

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MONICA ŞAGUNA

2013-05-01

Full Text Available The Euro is the single currency shared by 17 of the European Union's Member States, which together make up the Euro area. Since its introduction, in January 2002, it became the second most traded currency in the world after the United States dollar. With the launch of the Euro, the monetary policy became the responsibility of the independent European Central Bank, which was created for that purpose, and of the national central banks of the Member States, having adopted the Euro. However, the accumulation of massive and unsustainable deficits and public debt levels in a number of peripheral economies threatened the Eurozone's viability by the end of its first decade, triggering a Eurozone sovereign debt crisis. The institutional mechanisms surrounding the Euro have also been an integral part of the crisis. On this line, the European Monetary Union is supported on one side by treaties and multilateral agreements including the Maastricht Treaty, the Stability and Growth Pact and the Lisbon Strategy and, on the other side, by the European Central Bank. The combination of these institutions has produced a mix of monetary, fiscal and labour market policies with powerful social implications. And, what started as a debt crisis in Greece in late 2009 has evolved into a broader economic and political crisis in the Eurozone and European Union. In this framework, the purpose of my paper is to analyze the roots of the Eurozone crisis, as the biggest challenge since the Euro adoption and the European Central Bank’s response to it. Therefore the objectives are: identification of the reasons that stand behind the crisis, then observing how the crisis has affected the functioning of the European Central Bank and the Euro, and how it was forced to respond and, finally, focusing on the future and the challenges that lie ahead.

The democratic accountability of the European Central Bank

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L. BINI-SMAGHI

1998-06-01

Full Text Available The European Central Bank (ECB is considered to be an institution with a high level of accountability compared with other central banks. However, the matter has yet to be investigated in practice. Accountability of the ECB will have to be checked by governing bodies both within and outside the ECB as well as the public. A survey is undertaken of the main reasons for central bank accountability, especially for the ECB.

SPECIFIC ASPECTS OF THE PROCESS OF BANKING CONCENTRATION AND CONSOLIDATION IN THE EUROPEAN UNION

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COPIL CRINA ANGELA

2015-04-01

Full Text Available In this paper I proposed to anaylze the main aspect that characterized the process of bank concentration and consolidation in the European union, knowing their evolutions and particularities on the European and world bank sector and the effects that they have on the banks and the economy altogether. I presented the evolution of the number of banks, evolution that reflects the degree of consolidation of the bank system. Based on the financial crisis begun in 2008 the number of credit institutions decreased continuously as a consequence of the processes of bank mergers and acquisitions generated by the uncertainties of the economic perspectives. Also I analyzed the evolution of the degree of bank concentration in the European countries, process that underlines the degree of domination of the banking market accomplished by some great banks. We consider essential the knowing of this process because the increase of the bank concentration leads to the creating of some bank entities with very large dimensions, that in the periods of crisis can generate macro economic imbalances by involving the state in their subventioning. The research is based mainly on compiled statistic data offered by the European Central Bank (BCE, data that are published annualy and that were processed to be able to offer an overview on the most important modifications that took place in the European union and in its representative countries.

Foreign bank entry, bank efficiency and market power in Central and Eastern European Countries

NARCIS (Netherlands)

Poghosyan, Tigran; Poghosyan, Arsen

2010-01-01

This article analyses the implications of the recently observed sharp expansion of foreign banks in the Central and Eastern European Countries (CEECs) as measured by equity ownership. We show that the mode of foreign entry has a pivotal impact on the post-entry performance of banks in CEECs. Foreign

The European Central Bank : Independence, accountability and strategy: A review

NARCIS (Netherlands)

De Haan, J

1997-01-01

This paper reviews research on central banking and monetary policy, with special emphasis on the position of the future European Central Bank. Nowadays, it is often thought that an independent central bank with an explicit mandate to aim for price stability constitutes an important institutional

European Banking with a Single Currency

OpenAIRE

Jean Dermine

1996-01-01

At the Madrid summit in December 1995, the EU heads of state or government endorsed a three-phase plan for the introduction of the single currency. The purpose of the paper is to identify how, besides an obvious fall in revenue from intra-European currencies trading, a single currency will alter fundamentally and permanently European banking markets. A common currency will likely change the sources of competitive advantage in various markets such as those of government bonds and their fast gr...

European consensus on the histopathology of inflammatory bowel disease.

Science.gov (United States)

Magro, F; Langner, C; Driessen, A; Ensari, A; Geboes, K; Mantzaris, G J; Villanacci, V; Becheanu, G; Borralho Nunes, P; Cathomas, G; Fries, W; Jouret-Mourin, A; Mescoli, C; de Petris, G; Rubio, C A; Shepherd, N A; Vieth, M; Eliakim, R

2013-11-01

The histologic examination of endoscopic biopsies or resection specimens remains a key step in the work-up of affected inflammatory bowel disease (IBD) patients and can be used for diagnosis and differential diagnosis, particularly in the differentiation of UC from CD and other non-IBD related colitides. The introduction of new treatment strategies in inflammatory bowel disease (IBD) interfering with the patients' immune system may result in mucosal healing, making the pathologists aware of the impact of treatment upon diagnostic features. The European Crohn's and Colitis Organisation (ECCO) and the European Society of Pathology (ESP) jointly elaborated a consensus to establish standards for histopathology diagnosis in IBD. The consensus endeavors to address: (i) procedures required for a proper diagnosis, (ii) features which can be used for the analysis of endoscopic biopsies, (iii) features which can be used for the analysis of surgical samples, (iv) criteria for diagnosis and differential diagnosis, and (v) special situations including those inherent to therapy. Questions that were addressed include: how many features should be present for a firm diagnosis? What is the role of histology in patient management, including search for dysplasia? Which features if any, can be used for assessment of disease activity? The statements and general recommendations of this consensus are based on the highest level of evidence available, but significant gaps remain in certain areas. Copyright © 2013 European Crohn's and Colitis Organisation. All rights reserved.

European consensus conference on diagnosis and treatment of germ cell cancer: a report of the second meeting of the European Germ Cell Cancer Consensus Group (EGCCCG): part II

DEFF Research Database (Denmark)

Krege, Susanne; Beyer, Jörg; Souchon, Rainer

2007-01-01

OBJECTIVES: The first consensus report that had been presented by the European Germ Cell Cancer Consensus Group (EGCCCG) in 2004 has found widespread approval by many colleagues throughout the world. In November 2006, the group met a second time under the auspices of the Department of Urology of ...

European consensus conference on diagnosis and treatment of germ cell cancer: a report of the second meeting of the European Germ Cell Cancer Consensus group (EGCCCG): part I

DEFF Research Database (Denmark)

Krege, Susanne; Beyer, Jörg; Souchon, Rainer

2007-01-01

OBJECTIVES: The first consensus report presented by the European Germ Cell Cancer Consensus Group (EGCCCG) in the year 2004 has found widespread approval by many colleagues throughout the world. In November 2006, the group met a second time under the auspices of the Department of Urology of the A...

REPUTATIONAL AND OPERATIONAL RISKS IN EUROPEAN BANKS

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Roxana HERGHILIGIU

2014-06-01

Full Text Available In the past 20 years operational and reputational risk has become more intriguing due to the public scandals of rogue tranding in banks like Barings Bank, Allied Irish Banks, Enron. The purpose of this study is to find the connections between operational risk and reputational risk. Our research shows that there may be a loss of reputation due to operational loss events. Moreover, every type of operational risk, from internal fraud, external fraud, legal and liability losses, processing errors, information security breaches, inappropriate business practice, physical security breaches conduct to a loss of reputation. The limitations of this paper are represented by the fact that do not have enough data to show the real impact of the reputation risk to the financial results of the European Banks.

The Provision of Services, Interest Margins and Loan Pricing in European Banking

OpenAIRE

Lepetit , Laetitia; Nys , Emmanuelle; Rous , Philippe; Tarazi , Amine

2006-01-01

This paper assesses the implications on bank interest margins of the expansion into non- traditional fee-based activities in European banking. We use a sample of 602 European commercial and cooperative banks from 1996 to 2002 and consider the total income shares of trading income and commission and fee income as measures of product diversification to explore loan pricing. Our results show that a higher income share from commission and fee activities is associated with lower margins and lower ...

IMPLICATIONS OF BANKING SUPERVISION ACROSS THE EUROPEAN MONETARY UNION, A SOVEREIGN DEBT CRISIS UPDATE

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Simona Elena IAGAR

2015-09-01

Full Text Available The current paper analyses the latest measures taken by the main European governing bodies with regard to the banking supervision across the European Monetary Union (EMU following the ‘sovereign debt crisis’ phenomenon and its continuing effects throughout the Euro zone for the last five years. Officially preaching financial integration in order to ensure stability of the European banking system, most often the European governing bodies amplify the exact phenomena they expect to reduce doing more harm to both creditors and depositors and ultimately leading to a more fragile business banking environment. The importance of banks is acknowledged at European institutional level as main channel through which the monetary policy is triggered across EMU, therefore active measures have been taken in this regard. Questioning the extent to which these measures are legitimate and meet the purposes that they claim, constitutes the aim of the present paper. Another close linked purpose is a better understanding of what stability means, why it is important and what makes stability occur in a banking system. Having understood and set the theoretical grounds, it therefore follows easily to analyse through this glance the latest actions pursued by the European financial governing bodies focusing on the ones addressing supervision of the banking sector within EMU. The paper concludes and provides a set of recommendations by reminding the nature and role of banks for the real economy, the same objective the European financial governing bodies’ target, but which they consistently fail to meet.

The role of the European Bank in the energy sector

International Nuclear Information System (INIS)

Coleman, J.

1993-01-01

The European Bank for Reconstruction and Development was established in 1991 to assist central and eastern European countries in making the transition from command economies to market economies. The Bank provides loans, equity investments, guarantees, advice, and technical cooperation to qualified applicants through its merchant banking and development banking operations. In the energy sector, the Bank recognizes that the energy resources of eastern Europe are enormous but so are the problems associated with their development. Since its foundation, most of the Bank's energy-related lending has been in the oil and gas sector in Russia and the Baltic countries. The Bank has approved eight projects in that sector with total capital costs of ca US$1.7 billion. Major problem areas to be overcome include uneconomic domestic pricing, high energy intensity and pollution, inadequate legal frameworks, inappropriate tax structures, and institutional complexity. Canadian firms have been actively involed in Bank-financed projects in the Russian oil and gas sector, and two such projects are briefly described. They comprise joint ventures with Russian enterprises or associations and include rehabilitation of Siberian oil fields and drilling new wells in the Komi (Arctic) region. A common feature of these projects is that they were well under way before the Bank got involved, but the Bank brings the benefits of additional financing and providing moral support and expertise which can be useful in overcoming administrative and regulatory difficulties

The European Central Bank: The Bank that rules Europe?

OpenAIRE

Howarth, D.

2009-01-01

The power of the European Central Bank (ECB) is rooted in its independence established in the Maastricht Treaty of 1992. This power is reinforced though the bank’s monetary policy credibility—achieved through meeting its price stability mandate, whilst resisting political pressures to manipulate monetary policy to other ends. This credibility contributes to the ideational power of the ECB which is rooted in widespread support for price stability, one of the core objectives of Economic and Mon...

The euro and the European Central Bank

OpenAIRE

Jeffrey M. Wrase

1999-01-01

The formation of a monetary union by 11 European countries has received a lot of notice from the press since January 1, 1999, when the union's common currency, the euro, was officially introduced. To facilitate adoption of a single currency, these same countries have established a central bank that sets a common monetary policy for the members of the monetary union. In this article, Jeff Wrase gives some background on the European monetary union, outlines the procedure for introduction of the...

BUILDING A BANKING UNION IN THE EUROPEAN UNION – A SOLUTION TO THE FINANCIAL CRISIS?

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Monica (ŞAGUNA FIGHIROAE

2015-07-01

Full Text Available The financial crisis of 2008 highlighted the need for a deeper integration of the banking system, as a warranty to support long-term financial stability. It was argued that the grounds of the crisis lie also in an uncoordinated national response to the failure of banks, in a fragmentation of the Single Market in lending and funding and, therefore, a better regulation and supervision of the financial sector can ensure financial stability and growth in the European Union. In order to restore the proper functioning of the internal market and to avoid future crisis, the European Commission launched a set of initiatives, in order to assure a safer and sounder financial sector for the single market; are included here: stronger prudential requirements for banks, improved depositor protection and rules for managing failing banks and a single rulebook for all the 28 Member States of the European Union. The single rule book is the step towards the Banking Union sits. The banking union consists of three pillars: a Single Supervisory Mechanism, a Single Resolution Mechanism and a joint deposit-insurance scheme. As on 4 November 2014 the European Central Bank assumed responsibility for euro area banking supervision, the Banking Union is still under construction. In this framework, the purpose of my paper is to analyse the process of building a Banking Union in Europe. Therefore, the objectives of my paper are to explore the steps to fulfilling a real integration of the European banking system, as a solution to the financial crisis.

Governance beyond the European Consensus on Development: What Drives EU Aid Selectivity?

NARCIS (Netherlands)

W. Hout (Wil)

2013-01-01

textabstractThis paper focuses on the ‘governance turn’ in the development policies of the European Union, represented in particular by the adoption of the ‘European Consensus on Development’ in 2005. The main assumption inherent in the EU approach to development is that the quality of governance in

The establishment of a network of European human research tissue banks.

Science.gov (United States)

Orr, Samantha; Alexandre, Eliane; Clark, Brain; Combes, Robert; Fels, Lueder M; Gray, Neil; Jönsson-Rylander, Ann-Cathrine; Helin, Heikki; Koistinen, Jukka; Oinonen, Teija; Richert, Lysiane; Ravid, Rivka; Salonen, Jarmo; Teesalu, Tambet; Thasler, Wolfgang; Trafford, Jacki; Van Der Valk, Jan; Von Versen, Rudiger; Weiss, Thomas; Womack, Chris; Ylikomi, Timo

2002-01-01

This is a report of a workshop held on the establishment of human research tissue banking which was held in Levi, Finland 21-24 March 2002. There were 21 participants from 7 European countries. This meeting was attended by representatives from academia, research tissue banks and from the Biotech and Pharmaceutical Industries. The principal aim of the workshop was to find a way to progress the recommendations from ECVAM workshop 44 (ATLA 29, 125-134, 2001) and ECVAM workshop 32 (ATLA 26, 763-777, 1998). The workshop represented the first unofficial meeting of the European Network of Research Tissue Banks (ENRTB) steering group. It is expected that in the period preceding the next workshop the ENRTB steering group will co-ordinate the ethical, legislative and organisational aspects of research tissue banking. Key issues dealt with by the Levi workshop included the practical aspects of sharing expertise and experiences across the different European members. Such collaboration between research tissue banks and end users of such material seeks to ultimately enable shared access to human tissue for medical and pharmaco-toxicological research while maintaining strict adherence to differences in legal and ethical aspects related to the use of human tissue in individual countries.

European quality system for tissue banking.

Science.gov (United States)

Manyalich, M; Navarro, A; Koller, J; Loty, B; de Guerra, A; Cornu, O; Vabels, G; Fornasari, P M; Costa, A N; Siska, I; Hirn, M; Franz, N; Miranda, B; Kaminski, A; Uhrynowska, I; Van Baare, J; Trias, E; Fernández, C; de By, T; Poniatowski, S; Carbonell, R

2009-01-01

The aims of this project were to analyze the factors that influence quality and safety of tissues for transplantation and to develop the method to ensure standards of quality and safety in relation to tissue banking as demanded by European Directive 2004/23/EC and its technical annexes. It is organized in 4 Working Groups, the objectives of each one being focused in a specific area. The Guide of Recommendations for Tissue Banking is structured into 4 parts: (1) quality systems that apply to tissue banking and general quality system requirements, (2) regulatory framework in Europe, (3) standards available, and (4) recommendations of the fundamental quality and safety keypoints. This Working Group handled design of a multinational musculoskeletal tissue registry prototype. This Working Group handled design and validation of a specialized training model structured into online and face-to-face courses. The model was improved with suggestions from students, and 100% certification was obtained. The Guide for Auditing Tissue Establishments provides guidance for auditors, a self-assessment questionnaire, and an audit report form. The effectiveness and sustainability of the outputs were assessed. Both guides are useful for experienced tissue establishments and auditors and also for professionals that are starting in the field. The registry prototype proves it is possible to exchange tissues between establishments throughout Europe. The training model has been effective in educating staff and means having professionals with excellent expertise. Member states could adapt/adopt it. The guides should be updated periodically and perhaps a European organization should take responsibility for this and even create a body of auditors.

European Consensus on Primary Prevention of Coronary Heart Disease.

Science.gov (United States)

Assmann, G

1988-07-01

The European Consensus on Primary Prevention of Coronary Heart Disease has recommended that providing care for individuals at particular risk for coronary artery disease (CAD) requires case finding through medical examinations in primary care, hospital and employment health examination settings. Decisions concerning management of elevated lipid levels should be based on overall cardiovascular risk. The goal of reducing cholesterol levels through risk reduction can ultimately be accomplished only with the implementation of health education efforts directed toward all age groups and actions by government and supranational agencies, including adequate food labelling to identify fat content, selective taxation to encourage healthful habits and wider availability of exercise facilities. Only measures directed at the overall population can eventually reach the large proportion of individuals at mildly to moderately increased risk for CAD. The European Policy Statement on the Prevention of Coronary Heart Disease recognizes that the question of lipid elevation as a risk factor for CAD involves assessment, not only of cholesterol level alone, but also of triglycerides and the HDL cholesterol lipid fraction. Five specific categories of dyslipidemia have been identified, with individualized screening and treatment strategies advised for each. It is the consensus of the study group panel members that these procedures are both practical and feasible. They begin the necessary long term process to reduce the unacceptably high levels of morbidity and mortality due to CAD throughout the European community.

The Asymmetric Implementation of the European Banking Union (EBU: Consequences for Financial Stability

Directory of Open Access Journals (Sweden)

Vollmer Uwe

2016-06-01

Full Text Available EU Member States outside the Eurozone are hesitating to enter the European Banking Union (EBU and to establish “close cooperation” in bank supervision with the ECB. This paper analyzes the consequences of such asymmetric integration for financial stability in Europe. It argues that the main obstacles against establishing close cooperation are a lack of voting rights and insufficient access to the fiscal backstop provided by the European Stability Mechanism (ESM. The paper presents arguments as to why international cooperation in bank supervision could be welfare improving, if multinational banks are dominant. It also discusses suitable reform options for making it more attractive for EU Member States to begin a close cooperation with the ECB.

Does the European financial stability bail out sovereigns or banks : An event study

NARCIS (Netherlands)

Horváth, Bálint; Huizinga, Harry

2015-01-01

On May 9, 2010 euro zone countries announced the creation of the European Financial Stability Facility. This paper investigates the impact of this announcement on bank share prices, bank credit default swap (CDS) spreads, and sovereign CDS spreads. The main private beneficiaries were bank creditors.

Multilateral Development Banks and Their Role in Supporting European SMEs during the Current Financial Crisis

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Sorin Gabriel Anton

2013-12-01

Full Text Available The impact of the ongoing financial crisis on the availability of finance to small and medium-sized enterprises (SMEs represents an important topic nowadays. The access to finance for SMEs is a major barrier for their growth, especially during severe conditions such as the global financial crisis. Financing the SMEs represents a priority for the most of the multilateral development banks. The aim of the paper is to analyze the activity of European multilateral development banks - European Investment Bank Group and European Bank for Reconstruction and Development - in the support of SMEs. We found that SMEs financing increased during the period 2008-2011 and the international financial institutions took several measures in order to improve the SMEs access to finance.

Computational content analysis of European Central Bank statements

NARCIS (Netherlands)

Milea, D.V.; Almeida, R.J.; Sharef, N.M.; Kaymak, U.; Frasincar, F.

2012-01-01

In this paper we present a framework for the computational content analysis of European Central Bank (ECB) statements. Based on this framework, we provide two approaches that can be used in a practical context. Both approaches use the content of ECB statements to predict upward and downward movement

Concentration in corporate bank loans. What do we learn from European comparisons?

OpenAIRE

Christophe J. Godlewski; Ydriss Ziane

2009-01-01

The aim of this paper is to empirically investigate the determinants of creditor concentration in the use of bank loans by firms in a European cross-country framework. We analyze the influence of loan and borrower characteristics but also banking market structure and legal enforcement country-specific variables that are expected to influence the financial and strategic decision relative to the number of bank lenders. We find that firms tend to diversify sources of financing by reducing bank c...

The European Banking Union: Will It Be a True Union without Risk Sharing?

Directory of Open Access Journals (Sweden)

Mario Sarcinelli

2013-06-01

Full Text Available The recent developments of the Euro crisis reveal the lack of clear or coherent thinking on the part of both the Eurozone finance ministers and the European Commission. The crisis in Cyprus is partly the consequence of decisions made on private sector involvement in the previous Greek bailout, and other such examples may be made. It is time, therefore, to look reality in the face and strengthen the structures of the EMU. The article is devoted to what has been done and what must still be done to make the European banking system more robust and less permeable to crises, and to preserve the single financial market. It looks at the initiatives of both the European Commission and the European Council to complete the EMU by creating a banking union, the doubts on the wisdom of entrusting banking oversight to the ECB, the organization of the ECB’s new tasks, the continuing absence of facilities for the recovery or liquidation of banks, as well as for a Euro-wide deposit insurance, the need for some form of risk-sharing in order to stabilise the economy, and thus the recourse to a common budget and the possibility of joint debt for the Eurozone.

The European Hematology Association Roadmap for European Hematology Research: a consensus document.

Science.gov (United States)

Engert, Andreas; Balduini, Carlo; Brand, Anneke; Coiffier, Bertrand; Cordonnier, Catherine; Döhner, Hartmut; de Wit, Thom Duyvené; Eichinger, Sabine; Fibbe, Willem; Green, Tony; de Haas, Fleur; Iolascon, Achille; Jaffredo, Thierry; Rodeghiero, Francesco; Salles, Gilles; Schuringa, Jan Jacob

2016-02-01

The European Hematology Association (EHA) Roadmap for European Hematology Research highlights major achievements in diagnosis and treatment of blood disorders and identifies the greatest unmet clinical and scientific needs in those areas to enable better funded, more focused European hematology research. Initiated by the EHA, around 300 experts contributed to the consensus document, which will help European policy makers, research funders, research organizations, researchers, and patient groups make better informed decisions on hematology research. It also aims to raise public awareness of the burden of blood disorders on European society, which purely in economic terms is estimated at €23 billion per year, a level of cost that is not matched in current European hematology research funding. In recent decades, hematology research has improved our fundamental understanding of the biology of blood disorders, and has improved diagnostics and treatments, sometimes in revolutionary ways. This progress highlights the potential of focused basic research programs such as this EHA Roadmap.The EHA Roadmap identifies nine 'sections' in hematology: normal hematopoiesis, malignant lymphoid and myeloid diseases, anemias and related diseases, platelet disorders, blood coagulation and hemostatic disorders, transfusion medicine, infections in hematology, and hematopoietic stem cell transplantation. These sections span 60 smaller groups of diseases or disorders.The EHA Roadmap identifies priorities and needs across the field of hematology, including those to develop targeted therapies based on genomic profiling and chemical biology, to eradicate minimal residual malignant disease, and to develop cellular immunotherapies, combination treatments, gene therapies, hematopoietic stem cell treatments, and treatments that are better tolerated by elderly patients. Copyright© Ferrata Storti Foundation.

From supervision to resolution: next steps on the road to European banking union

OpenAIRE

Nicolas Véron; Guntram B. Wolff

2013-01-01

Listen to the press conference call. The European Council has outlined the creation of a Single Resolution Mechanism (SRM), complementing the Single Supervisory Mechanism. The thinking on the SRM’s legal basis, design and mission is still preliminary and depends on other major initiatives, including the European Stability Mechanism’s involvement in bank recapitalisations and the Bank Recovery and Resolution (BRR) Directive. The SRM should also not be seen as the final step creating Europe’s f...

Government Effectiveness and Value Creation: The Case of Emerging European Listed Banks

Directory of Open Access Journals (Sweden)

Anca MUNTEANU

2014-06-01

Full Text Available This study adds to the field of public administration by focusing on the nexus between government decision and bank performance scores highlighting the administrative regulatory dimensions of improvements. To this end, this research paper covers a unique database comprising all listed banks that operate on emerging European markets in the period 2005-2011. Country specific characteristics are presented in the light of public administration quality which includes the dimension of governance quality on the one side, andthe quality and administrative burden on business environment on the other.Bank performance is defined under two different approaches (accounting vs. market based taking into account different stakeholders interest (state and central bank authority vs. investors.We account for profit persistency by using a Prais-Winsten regression that allows for both autocorrelation and heteroskedasticity in data. The results call attention to the fact that in emerging European markets regulatory glitches have a positive impact upon bank performance. Market imperfections are a source of profitability as they generate a reliable supply of market share appropriation and thus monopoly power. Also, administrative commitment towards increasing the quality of public services and policies endorsed by diminishing the level of corruption will accelerate private development and thus banking profitability.

RISK MITIGATION IN THE BANKING SYSTEM IN THE CONTEXT OF INTEGRATION IN THE EUROPEAN UNION

Directory of Open Access Journals (Sweden)

Laura – Maria POPESCU

2013-06-01

Full Text Available The article aims to highlight the measures adopted in the financial-banking system in the context of the European integration, according to risk analysis perspectives. The first part provides details on the vulnerability sources in terms of banking risks and their approach from various perspectives. Subsequently, based on the identified risks, a series of measures are proposed to limit them within the banking system. In terms of the work hypotheses, they are confirmed, thus increasing the harmonization level of theories throughout the European Union. Research was based on methods such as analysis, synthesis and induction, used to select the opinion of specialists in the field on the studied matter, and deduction, through the cross-section method, thus following the evolution and measures adopted in time. Following the analysis, a need was noticed for the implementation of an efficient banking risk management system, together with drafting additional regulations, so that the banking system is better prepared to handle new challenges generated by the crisis. The term afferent to the accession and integration in the European Union implied a stage requiring a radical change of the Romanian banking system, considering issues such as Romania’s economic development, leading to an increase of the banking mediation process.

Loans of the European Investment Bank to gaseous plans

International Nuclear Information System (INIS)

Anon.

1997-01-01

The European Investment Bank (EIB) has loaned 525 million Ecu (European currency unit) to Portugal to finance in particular the Transgas pipeline construction destined to the natural gas transport. It has also renewed its support to the construction and exploitation of a high pressure pipelines system for the transport and the distribution of natural gas in Greece. At last, it has loaned 180 million Ecu to Poland for the conversion of a worked-out gas deposit into a gas storage. (O.M.)

Profitability of Western European banking systems: panel evidence on structural and cyclical determinants

OpenAIRE

Beckmann, Rainer

2007-01-01

This paper analyses structural and cyclical determinants of banking profitability in 16 Western European countries. We find that financial structure matters, particularly through the beneficial effect of the capital market orientation in the respective national financial system. Furthermore, higher diversification regarding banks' income sources shows a positive effect. The industry concentration of national banking systems, though, does not significantly affect aggregate profitability. Busin...

THE EUROPEAN BANKING SYSTEM. TRACK RECORD AND ACHIEVEMENT

Directory of Open Access Journals (Sweden)

ADELA IONESCU

2014-11-01

Full Text Available The banking system of Europe has experienced two decades of turbulence. Through the 1990’s a wave of mergers, liquidations and bankruptcies has swept the sector. This wave was at its peak the last years of the 1990’s and the 2000-2004 period. Since then the number of exits from the sector has been relatively stable. It is notable that the cooperative banks suffered more than the commercials. This fact can be attributed to their smaller size, ownership structure, management efficiency etc.During the last decade a great number of events have forced the banking system in Europe to transform, to adapt to a new financial, economic, political and social environment. Two financial crisis (2001-2002 and 2008-2009, two voluntary attempts to regulate the financial system (Basel II and III, the introduction of the Euro and the establishment of the European Central Bank, several regulation attempts to create an isomorphic legal environment, financial scandals of 2001-2002, 2008 and the globalization of the financial sector are some of the events that created a new environment for the financial sector.

A sliding windows approach to analyse the evolution of bank shares in the European Union

Science.gov (United States)

Ferreira, Paulo; Dionísio, Andreia; Guedes, Everaldo Freitas; Zebende, Gilney Figueira

2018-01-01

Both sub-prime and Eurozone debt crisis problems caused severe financial crisis, which affected European markets in general, but particularly the banking sector. The continuous devaluation of bank shares in the financial sector caused a great decrease in market capitalization, and in citizen and investor confidence. Panic among investors led them to sell shares, while other agents took the opportunity to buy them. Therefore, the study of bank shares is important, particularly of their efficiency. In this paper, adopting a sliding windows detrended fluctuation approach, we analyse the efficiency concept dynamically with 63 European banks (both in and outside the Eurozone). The main results show that the crisis had an effect on changing the efficiency pattern.

How does fair value measurement under IAS 39 affect disclosure choices of European banks?

OpenAIRE

Bischof, Jannis; Wüstemann, Jens

2007-01-01

There is a considerable degree of heterogeneity in the way how European banks present their financial instruments in IFRS financial statements. In a sample of 109 European banks, we identify three major presentation formats that are currently applied: a presentation by measurement category, by product, and by purpose. We find the use of the measurement categories, which were originally designed by IAS 39 for measurement purposes, as line items to be the prevalent choice across countries. We a...

Expert advice and political choice in constructing European banking union

NARCIS (Netherlands)

Donnelly, Shawn

2016-01-01

International actors promoted the transfer of regulatory authority and financial resources from national governments to the European Union (EU) in the context of establishing the prerequisites for financial stability in Europe through banking union. It was supplied, however, by a political process

Normative Power vs. Political Interest: EU Aid Selectivity beyond the European Consensus on Development, 2008-13

NARCIS (Netherlands)

W. Hout (Wil)

2013-01-01

markdownabstract__Abstract__ This paper focuses on the ‘governance turn’ in the development policies of the European Union, represented in particular by the adoption of the ‘European Consensus on Development’ in 2005. The main assumption inherent in the EU approach to development is that the

On the roles of different foreign currencies in European bank lending

OpenAIRE

Krogstrup, Signe; Tille, Cedric

2015-01-01

We draw on a new data set on the use of Swiss francs and other currencies by European banks to assess the patterns of foreign currency bank lending. We show that the patterns differ sharply across foreign currencies. The Swiss franc is used predominantly for lending to residents, especially households. It is sensitive to the interest rate differential, exchange rate developments, funding availability, and to some extent international trade. Lending in other currencies is more used in lending ...

THE IMPACT OF THE FINANCIAL CRISIS ON THE EUROPEAN BANKS

Directory of Open Access Journals (Sweden)

DAVID DELIA

2012-07-01

Full Text Available The fast innovations existent on financial markets and the internationalization of cash-flows in the last decade led to changes within the banking industry making it unrecognized. The financial innovation within the banking industry, especially the one regarding the off-balance-sheet instruments has effects as the risk focus and the increase of volatility within the entire banking industry. As it is proved by the economic crisis, the financial stability plays an important role within the financial system as well as within the economy as a whole. At the moment, as the number of active financial institutions is getting higher and higher in one or more countries or on one or more continents, the financial stability at a worldwide level became even more important. The objective of this work is to emphasize the way in which the European banks were affected once with the global financial crisis. The economic crisis was triggered by the bankruptcy of the Lehman Brothers ‘ Investment Bank, in the autumn of 2008 and its effects were felt at the level of the European financial markets, a series of cross-border groups claiming interventions of the state in order for them to be saved. The intensity of the crisis was felt and it affected many states, the impact of these ones being influenced by a series of specific factors which outlined the situation of their financial system, at the moment of the crisis release. At the level of the European Union, a series of measures have been established in order to extinguish the identified dysfunctions at a financial field level, among which we mention: the improvement of the surveillance framework of those financial institutions having cross-border activity, the expansion of the communication and cooperation among the EU surveillance authorities and the ones outside the Union, etc. The conclusions of the study of this paper work in regards to the activity of the main European banks, especially to the ones from

Incentive Problems in Banking Supervision: The European Case

OpenAIRE

Schüler, Martin

2003-01-01

This paper discusses the incentive conflicts that arise in banking supervision in the EU in a principal-agent framework, where the regulator is the agent and the taxpayers is the principal. The regulatory agent in addition to maintaining financial stability (the objective of the principal) may pursue private interests. Incomplete information, insufficient accountability of the agent and lack of enforceability of compliance result in an incentive problem. A reform of the European supervisory s...

Financial Stability in European Banking: The Role of Common Factors

NARCIS (Netherlands)

Kool, C.J.M.

In this paper, I investigate the development and determinants of CDS spreads for 18 major European banks between December 2001 and January 2004 applying factor analysis to daily data. Two clear-cut conclusions can be drawn. First, the dominating first common factor that explains 88 percent of all

Main determinants of efficiency and implications on banking concentration in the European Union

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Rafael Bautista Mesa

2014-01-01

Full Text Available This study aims to measure the main determinants influencing bank efficiency. We suggest that the bank efficiency ratio, obtained from the income statement, is positively related to the size of a bank in terms of total assets. However, we believe that such a relationship cannot be maintained for banks over a certain size. By the use of the regression analysis method, we analyze the link between bank efficiency and bank size, using a sample of 3952 banks in the European Union. Our results show that the efficiency ratio stops improving for banks with total assets over $25 billion. Previous literature, using different analysis techniques, does not reach an agreement on this point. Furthermore, our study identifies further variables which negatively affect the efficiency of banks, such as competition and lending diversification, or affect them positively, such as the wholesale funding ratio and income diversification. Our findings imply the need for different bank policies depending on total assets, in order to limit the size and activities of banks.

Bank Resolution in the European Banking Union

DEFF Research Database (Denmark)

Gordon, Jeffrey N.; Ringe, Georg

2015-01-01

The project of creating a Banking Union is designed to overcome the fatal link between sovereigns and their banks in the Eurozone. As part of this project, political agreement for a common supervision framework and a common resolution scheme has been reached with difficulty. However, the resolution...... mechanism deployable at the discretion of the resolution authority must be available to supply liquidity to a reorganizing bank. On these conditions, a viable and realistic Banking Union would be within reach--and the resolution of global financial institutions would be greatly facilitated, not least...... framework is weak, underfunded and exhibits some serious flaws. Further, Member States' disagreements appear to rule out a federalized deposit insurance scheme, commonly regarded as the necessary third pillar of a successful Banking Union. This paper argues for an organizational and capital structure...

Bank Resolution in the European Banking Union

DEFF Research Database (Denmark)

Gordon, Jeffrey N.; Ringe, Wolf-Georg

The project of creating a Banking Union is designed to overcome the fatal link between sovereigns and their banks in the Eurozone. As part of this project, political agreement for a common supervision framework and a common resolution scheme has been reached with difficulty. However, the resolution...... at the discretion of the resolution authority must be available to supply liquidity to a reorganizing bank. On these conditions, a viable and realistic Banking Union would be within reach — and the resolution of global financial institutions would be greatly facilitated, not least in a transatlantic perspective....... framework is weak, underfunded and exhibits some serious flaws. Further, Member States’ disagreements appear to rule out a federalized deposit insurance scheme, commonly regarded as the necessary third pillar of a successful Banking Union. This paper argues for an organizational and capital structure...

European academy of dermatology and venereology European prurigo project: expert consensus on the definition, classification and terminology of chronic prurigo.

Science.gov (United States)

Pereira, M P; Steinke, S; Zeidler, C; Forner, C; Riepe, C; Augustin, M; Bobko, S; Dalgard, F; Elberling, J; Garcovich, S; Gieler, U; Gonçalo, M; Halvorsen, J A; Leslie, T A; Metz, M; Reich, A; Şavk, E; Schneider, G; Serra-Baldrich, E; Ständer, H F; Streit, M; Wallengren, J; Weller, K; Wollenberg, A; Bruland, P; Soto-Rey, I; Storck, M; Dugas, M; Weisshaar, E; Szepietowski, J C; Legat, F J; Ständer, S

2017-08-31

The term prurigo has been used for many decades in dermatology without clear definition, and currently used terminology of prurigo is inconsistent and confusing. Especially, itch-related prurigo remains unexplored regarding the epidemiology, clinical profile, natural course, underlying causes, available treatments and economic burden, although burdensome and difficult to treat. To address these issues, the multicentre European Prurigo Project (EPP) was designed to increase knowledge on chronic prurigo (CPG). In the first step, European experts of the EADV Task Force Pruritus (TFP) aimed to achieve a consensus on the definition, classification and terminology of CPG. Additionally, procedures of the cross-sectional EPP were discussed and agreed upon. Discussions and surveys between members of the TFP served as basis for a consensus conference. Using the Delphi method, consensus was defined as an agreement ≥75% among the present members. Twenty-four members of the TFP participated in the consensus conference. Experts consented that CPG should be used as an umbrella term for the range of clinical manifestations (e.g. papular, nodular, plaque or umbilicated types). CPG is considered a distinct disease defined by the presence of chronic pruritus for ≥6 weeks, history and/or signs of repeated scratching and multiple localized/generalized pruriginous skin lesions (whitish or pink papules, nodules and/or plaques). CPG occurs due to a neuronal sensitization to itch and the development of an itch-scratch cycle. This new definition and terminology of CPG should be implemented in dermatology to harmonize communication in the clinical routine, clinical trials and scientific literature. Acute/subacute forms of prurigo are separated entities, which need to be differentiated from CPG and will be discussed in a next step. In the near future, the cross-sectional EPP will provide relevant clinical data on various aspects of CPG leading to new directions in the scientific

The monetary policy of the European Central Bank in modern conditions

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Kavitskaya Irina, L.

2015-12-01

Full Text Available The paper presents the monetary policy analysis of the European Central Bank (ECB under the present crisis conditions. The paper systematizes the ECB monetary policy in today's crisis and researches it at different stages of the crisis. A detailed analysis showed that the ECB's monetary policy is significantly different from the actions of other central banks during the current crisis (for example, the Federal Reserve. Thus, the ECB unconventional monetary policy combined with traditional measures, but does not replace them. Often ECB use credit easing instead of quantitative easing. The ECB's monetary policy used not only to combat the financial crisis, such as the Fed, but also to deal with the debt crisis. These features of the ECB’s monetary policy were due to both the institutional characteristics of the European Union, as well as special conditions of flow of the financial crisis in the euro zone.

Maintaining success, reducing treatment burden, focusing on survivorship: highlights from the third European consensus conference on diagnosis and treatment of germ-cell cancer.

Science.gov (United States)

Beyer, J; Albers, P; Altena, R; Aparicio, J; Bokemeyer, C; Busch, J; Cathomas, R; Cavallin-Stahl, E; Clarke, N W; Claßen, J; Cohn-Cedermark, G; Dahl, A A; Daugaard, G; De Giorgi, U; De Santis, M; De Wit, M; De Wit, R; Dieckmann, K P; Fenner, M; Fizazi, K; Flechon, A; Fossa, S D; Germá Lluch, J R; Gietema, J A; Gillessen, S; Giwercman, A; Hartmann, J T; Heidenreich, A; Hentrich, M; Honecker, F; Horwich, A; Huddart, R A; Kliesch, S; Kollmannsberger, C; Krege, S; Laguna, M P; Looijenga, L H J; Lorch, A; Lotz, J P; Mayer, F; Necchi, A; Nicolai, N; Nuver, J; Oechsle, K; Oldenburg, J; Oosterhuis, J W; Powles, T; Rajpert-De Meyts, E; Rick, O; Rosti, G; Salvioni, R; Schrader, M; Schweyer, S; Sedlmayer, F; Sohaib, A; Souchon, R; Tandstad, T; Winter, C; Wittekind, C

2013-04-01

In November 2011, the Third European Consensus Conference on Diagnosis and Treatment of Germ-Cell Cancer (GCC) was held in Berlin, Germany. This third conference followed similar meetings in 2003 (Essen, Germany) and 2006 (Amsterdam, The Netherlands) [Schmoll H-J, Souchon R, Krege S et al. European consensus on diagnosis and treatment of germ-cell cancer: a report of the European Germ-Cell Cancer Consensus Group (EGCCCG). Ann Oncol 2004; 15: 1377-1399; Krege S, Beyer J, Souchon R et al. European consensus conference on diagnosis and treatment of germ-cell cancer: a report of the second meeting of the European Germ-Cell Cancer Consensus group (EGCCCG): part I. Eur Urol 2008; 53: 478-496; Krege S, Beyer J, Souchon R et al. European consensus conference on diagnosis and treatment of germ-cell cancer: a report of the second meeting of the European Germ-Cell Cancer Consensus group (EGCCCG): part II. Eur Urol 2008; 53: 497-513]. A panel of 56 of 60 invited GCC experts from all across Europe discussed all aspects on diagnosis and treatment of GCC, with a particular focus on acute and late toxic effects as well as on survivorship issues. The panel consisted of oncologists, urologic surgeons, radiooncologists, pathologists and basic scientists, who are all actively involved in care of GCC patients. Panelists were chosen based on the publication activity in recent years. Before the meeting, panelists were asked to review the literature published since 2006 in 20 major areas concerning all aspects of diagnosis, treatment and follow-up of GCC patients, and to prepare an updated version of the previous recommendations to be discussed at the conference. In addition, ∼50 E-vote questions were drafted and presented at the conference to address the most controversial areas for a poll of expert opinions. Here, we present the main recommendations and controversies of this meeting. The votes of the panelists are added as online supplements.

European consensus on a competency-based virtual reality training program for basic endoscopic surgical psychomotor skills.

Science.gov (United States)

van Dongen, Koen W; Ahlberg, Gunnar; Bonavina, Luigi; Carter, Fiona J; Grantcharov, Teodor P; Hyltander, Anders; Schijven, Marlies P; Stefani, Alessandro; van der Zee, David C; Broeders, Ivo A M J

2011-01-01

Virtual reality (VR) simulators have been demonstrated to improve basic psychomotor skills in endoscopic surgery. The exercise configuration settings used for validation in studies published so far are default settings or are based on the personal choice of the tutors. The purpose of this study was to establish consensus on exercise configurations and on a validated training program for a virtual reality simulator, based on the experience of international experts to set criterion levels to construct a proficiency-based training program. A consensus meeting was held with eight European teams, all extensively experienced in using the VR simulator. Construct validity of the training program was tested by 20 experts and 60 novices. The data were analyzed by using the t test for equality of means. Consensus was achieved on training designs, exercise configuration, and examination. Almost all exercises (7/8) showed construct validity. In total, 50 of 94 parameters (53%) showed significant difference. A European, multicenter, validated, training program was constructed according to the general consensus of a large international team with extended experience in virtual reality simulation. Therefore, a proficiency-based training program can be offered to training centers that use this simulator for training in basic psychomotor skills in endoscopic surgery.

BANKING SUPERVISION IN EUROPEAN UNION

OpenAIRE

Lavinia Mihaela GUȚU; Vasile ILIE

2013-01-01

The need for prudential supervision imposed to banks by law arises from the action that banking market’s basic factors have. Therefore, it is about banks’ role in economy. The normal functioning of banks in all their important duties maintains the stability of banking system. Further, the stability of the entire economy depends on the stability of the banking system. Under conditions of imbalance regarding treasury or liquidity, banks are faced with unmanageable crisis and the consequences ca...

The role of the European Bank in the energy sector

International Nuclear Information System (INIS)

Coleman, John

1994-01-01

The European Bank for Reconstruction and Development was established in 1991 and is owned by the western industrialized countries, including Canada, and the former communist countries of Europe and Central Asia. Its purpose is to assist the latter to make the transition from command to market economies in a democratic framework. In the energy sector, most of the EBRD's lending has been in the oil and gas sector in Russia, but it is open for business in other sectors and in all countries of operation. Unlike other development banks, the EBRD is prepared to finance nuclear power projects. The bank is also prepared to finance conventional power plants where these would permit the closure of obsolete or unsafe nuclear plants. In the oil and gas sector, most of the EBRD's lending has related to private sector, joint venture projects aimed at oil field rehabilitation and development. The private sector ventures supported by the Bank normally involve joint stock companies owned 50 per cent by western partners and 50 per cent by Russian state oil companies, which are being privatized or are operating according to private sector principles. (author)

Bank Insolvency Procedures and Market Discipline in European Banking

DEFF Research Database (Denmark)

Angkinand, Apanard; Wihlborg, Clas

2005-01-01

for pre-determined bank insolvency procedures that could enable banks to expand cross-border in branches. In the empirical part we show that credibility of non-insurance is maximized with a partial deposit insurance scheme, and that the coverage can be decreased if effective rule-based distress resolution......Predetermined, operational procedures for dealing with banks in distress are conspicuously absent across the world with very few exceptions. Instead governments and regulatory authorities intervene when banks approach failure. Bail-outs of important creditors, sometimes including shareholders......, and blanket guarantees for creditors become the norm. We argue that efficient incentives of banks' creditors, as well as of shareholders and managers, require predetermined rules for dealing with banks in distress, and a group of creditors that are credibly non-insured. Cross-border banking increases the need...

The Da Vinci European BioBank: A Metabolomics-Driven Infrastructure

Science.gov (United States)

Carotenuto, Dario; Luchinat, Claudio; Marcon, Giordana; Rosato, Antonio; Turano, Paola

2015-01-01

We present here the organization of the recently-constituted da Vinci European BioBank (daVEB, https://www.davincieuropeanbiobank.org/it). The biobank was created as an infrastructure to support the activities of the Fiorgen Foundation (http://www.fiorgen.net/), a nonprofit organization that promotes research in the field of pharmacogenomics and personalized medicine. The way operating procedures concerning samples and data have been developed at daVEB largely stems from the strong metabolomics connotation of Fiorgen and from the involvement of the scientific collaborators of the foundation in international/European projects aimed to tackle the standardization of pre-analytical procedures and the promotion of data standards in metabolomics. PMID:25913579

Basel III Global Liquidity Standards: Critical Discussion and Impact onto the European Banking Sector

Directory of Open Access Journals (Sweden)

Veronika Bučková

2011-09-01

Full Text Available Together with the Basel III regulatory equity rules, two liquidity ratios have been published. Resulting from the illiquidity of some banks during the financial crisis in 2008, these ratios shall help to prevent further crisis in the European banking sector. But do they really fulfill their aim? This article presents the new liquidity ratios, the actual liquidity situation in banks and describes the consequences for banks at a simplified example. It has to be stated that implementing more detailed liquidity frameworks into the banking supervision process is necessary. The financial crisis in 2008 showed that several banks did not have adequate liquidity risk models and processes to prevent illiquidity. But the LCR and the NSFR seem to be wrong methods. Both ratios will increase. The implementation of both ratios has to be done very carefully in order to prevent this.

Banking Integration in European Context

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Roxana Bădîrcea

2016-05-01

Full Text Available The integration of different states in a already existing union or in a new one represents a long-lasting process involving harmonisations on various fields – political, economic, legislative, social, cultural, technological, informational, etc. Besides the integration of the states and of the different authorities in a common mechanist, the business organizations also have to comply with certain standards and to align to certain procedures. The banking system is not an exception being probably one of the pillars of the economic and financial integration of a state in a union. Banking integration may be considered the process leading to a convergence towards a single market for all products, processes, procedures, standards, transactions from the banking field. All sets of standards, mechanisms and procedures should be observed both by banks, regulation and control bodies, but also by customers. Only in this way one can create the premises for the most favourable banking transactions. The integration of the banking system in a union is determined, conditioned and influenced by a series of factors. Based on the data published by the Bank for International Settlements, the authors carry out a close and pertinent empirical analysis of the banking assets flows between the Eurozone countries in the period 2000-2014. The paper also deals with the commitments that the recent economic-financial crisis created on the banking assets flows. The authors resort to regression equations in order to demonstrate the connection between the effects of banking integration and various factors involved (the relative dimension of the country, the significance of the banks in the financial system, the Herfindhal index, the degree of concentration or dispersion of the property on banks, the degree of independence, the tradition of law. In order to measure the level of banking integration of the national bank systems, the indices we used are the degree of openness

THE QUANTIFICATION OF THE EUROPEAN INTEGRATION DEGREE OF ROMANIA’S BANKING SYSTEM

Directory of Open Access Journals (Sweden)

Mădălina RĂDOI

2014-05-01

Full Text Available There are many methodologies described in the literature for approaching the integration process of financial markets in a given area (a comprehensive study of this subject can be found in Adam K, Jappelli T, Menichini A, Padula M, Pagano M (2002. Financists Emiris (1, Stulz (2, Ferson and Harvey (3 focus their work on the integration of capital markets. Other works look at financial integration from the angle of benefit and cost (4, from a legislative perspective (5, 6, or studying various segments of financial markets (7. In this paper, the subject of convergence is approached first of all by analysing interest rates in the Romanian interbank market, which are on a converging trend to similar values in the EU. In the second part, we propose a model for testing both the mobility of Romanian banking capitals and the European integration process of Romania’s banking sector. The model is based on the idea of maximising the Sharpe index in the portfolio theory. Furthermore, knowing that the Romanian economy and its macroeconomic variables have been a function of the American currency more than the European one, we deemed it useful to study whether and to which extent the Romanian banking sector has any converging trend to the American currency market.

European consensus statement on diagnosis and treatment of adult ADHD: the European Network adult ADHD

LENUS (Irish Health Repository)

Kooij, Sandra JJ

2010-09-03

Abstract Background Attention deficit hyperactivity disorder (ADHD) is among the most common psychiatric disorders of childhood that persists into adulthood in the majority of cases. The evidence on persistence poses several difficulties for adult psychiatry considering the lack of expertise for diagnostic assessment, limited treatment options and patient facilities across Europe. Methods The European Network Adult ADHD, founded in 2003, aims to increase awareness of this disorder and improve knowledge and patient care for adults with ADHD across Europe. This Consensus Statement is one of the actions taken by the European Network Adult ADHD in order to support the clinician with research evidence and clinical experience from 18 European countries in which ADHD in adults is recognised and treated. Results Besides information on the genetics and neurobiology of ADHD, three major questions are addressed in this statement: (1) What is the clinical picture of ADHD in adults? (2) How can ADHD in adults be properly diagnosed? (3) How should ADHD in adults be effectively treated? Conclusions ADHD often presents as an impairing lifelong condition in adults, yet it is currently underdiagnosed and treated in many European countries, leading to ineffective treatment and higher costs of illness. Expertise in diagnostic assessment and treatment of ADHD in adults must increase in psychiatry. Instruments for screening and diagnosis of ADHD in adults are available and appropriate treatments exist, although more research is needed in this age group.

Preoperative assessment and classification of benign laryngotracheal stenosis : a consensus paper of the European Laryngological Society

NARCIS (Netherlands)

Monnier, Ph.; Dikkers, F. G.; Eckel, H.; Sittel, C.; Piazza, C.; Campos, G.; Remacle, M.; Peretti, G.

2015-01-01

Adult and pediatric laryngotracheal stenoses (LTS) comprise a wide array of various conditions that require precise preoperative assessment and classification to improve comparison of different therapeutic modalities in a matched series of patients. This consensus paper of the European

The Da Vinci European BioBank: A Metabolomics-Driven Infrastructure

Directory of Open Access Journals (Sweden)

Dario Carotenuto

2015-04-01

Full Text Available We present here the organization of the recently-constituted da Vinci European BioBank (daVEB, https://www.davincieuropeanbiobank.org/it. The biobank was created as an infrastructure to support the activities of the Fiorgen Foundation (http://www.fiorgen.net/, a nonprofit organization that promotes research in the field of pharmacogenomics and personalized medicine. The way operating procedures concerning samples and data have been developed at daVEB largely stems from the strong metabolomics connotation of Fiorgen and from the involvement of the scientific collaborators of the foundation in international/European projects aimed to tackle the standardization of pre-analytical procedures and the promotion of data standards in metabolomics.

How to: Establish and run a stool bank.

Science.gov (United States)

Terveer, E M; van Beurden, Y H; Goorhuis, A; Seegers, J F M L; Bauer, M P; van Nood, E; Dijkgraaf, M G W; Mulder, C J J; Vandenbroucke-Grauls, C M J E; Verspaget, H W; Keller, J J; Kuijper, E J

2017-12-01

Since 2013, several stool banks have been developed following publications reporting on clinical success of 'faecal microbiota transplantation' (FMT) for recurrent Clostridium difficile infections (CDI). However, protocols for donor screening, faecal suspension preparation, and transfer of the faecal suspension differ between countries and institutions. Moreover, no European consensus exists regarding the legislative aspects of the faecal suspension product. Internationally standardized recommendations about the above mentioned aspects have not yet been established. In 2015, the Netherlands Donor Feces Bank (NDFB) was founded with the primary aim of providing a standardized product for the treatment of patients with recurrent CDI in the Netherlands. Standard operation procedures for donor recruitment, donor selection, donor screening, and production, storage, and distribution of frozen faecal suspensions for FMT were formulated. Our experience summarized in this review addresses current donor recruitment and screening, preparation of the faecal suspension, transfer of the faecal microbiota suspension, and the experiences and follow-up of the patients treated with donor faeces from the NDFB. Copyright © 2017 European Society of Clinical Microbiology and Infectious Diseases. Published by Elsevier Ltd. All rights reserved.

Tuberculosis control in big cities and urban risk groups in the European Union: a consensus statement.

Science.gov (United States)

van Hest, N A; Aldridge, R W; de Vries, G; Sandgren, A; Hauer, B; Hayward, A; Arrazola de Oñate, W; Haas, W; Codecasa, L R; Caylà, J A; Story, A; Antoine, D; Gori, A; Quabeck, L; Jonsson, J; Wanlin, M; Orcau, Å; Rodes, A; Dedicoat, M; Antoun, F; van Deutekom, H; Keizer, St; Abubakar, I

2014-03-06

In low-incidence countries in the European Union (EU), tuberculosis (TB) is concentrated in big cities, especially among certain urban high-risk groups including immigrants from TB high-incidence countries, homeless people, and those with a history of drug and alcohol misuse. Elimination of TB in European big cities requires control measures focused on multiple layers of the urban population. The particular complexities of major EU metropolises, for example high population density and social structure, create specific opportunities for transmission, but also enable targeted TB control interventions, not efficient in the general population, to be effective or cost effective. Lessons can be learnt from across the EU and this consensus statement on TB control in big cities and urban risk groups was prepared by a working group representing various EU big cities, brought together on the initiative of the European Centre for Disease Prevention and Control. The consensus statement describes general and specific social, educational, operational, organisational, legal and monitoring TB control interventions in EU big cities, as well as providing recommendations for big city TB control, based upon a conceptual TB transmission and control model.

Sovereign Credit Risk, Liquidity, and European Central Bank Intervention

DEFF Research Database (Denmark)

Pelizzon, Loriana; Subrahmanyam, Marti G.; Tomio, Davide

2016-01-01

We examine the dynamic relation between credit risk and liquidity in the Italian sovereign bond market during the eurozone crisis and the subsequent European Central Bank (ECB) interventions. Credit risk drives the liquidity of the market. A 10% change in the credit default swap (CDS) spread leads...... to a 13% change in the bid-ask spread, the relation being stronger when the CDS spread exceeds 500 basis points. The Long-Term Refinancing Operations of the ECB weakened the sensitivity of market makers’ liquidity provision to credit risk, highlighting the importance of funding liquidity measures...

Inhaled medication and inhalation devices for lung disease in patients with cystic fibrosis : A European consensus

NARCIS (Netherlands)

Heijerman, Harry; Westerman, Elsbeth; Conway, Steven; Touw, Daan; Döring, Gerd; Frijlink, Henderik

In cystic fibrosis inhalation of drugs for the treatment of CF related lung disease has been proven to be highly effective. Consequently, an increasing number of drugs and devices have been developed for CF lung disease or are currently under development. In this European consensus document we

The Single Supervisory Mechanism: the Building Pillar of the European Banking Union

Directory of Open Access Journals (Sweden)

Luigi Chiarella

2016-07-01

Full Text Available One of the lessons learned from the 2008 financial crisis is that when a bank in Europe goes into trouble the ensuing effects can reach far beyond the immediate threat to its depositors and shareholders. In particular, the crisis has revealed the extent to which irresponsible behavior in the banking sector could undermine the foundations of the financial system and threaten the real economy, turning a banking crisis into a sovereign debt crisis as occurred in the eurozone in 2011. In response to this lesson, Member States first tried to address the systemic fragility of their banking systems through national policy tools, but countries that share a common currency and are more interdependent required more integrated responses. Therefore, at the euro area summit in June 2012, the European Council agreed to break the vicious circle between banks and sovereign debt and decided to create a banking union that would allow a centralized supervision for banks in the euro area through a newly established Single Supervisory Mechanism (SSM and a centralized resolution scheme. The SSM became operational in November 2014 and represents the building pillar of the banking union. The purpose of this paper is then to provide, after a brief description of the background (Par. 1, an analysis of the Single Supervisory Mechanism, illustrating its functioning (Par. 2, then focusing on the position and the powers of the ECB within it (Par. 3 and finally pointing out some remarks on the potential weaknesses of the new regime (Par. 4.

THE SPECIFIC OF THE CONSUMER’S EUROPEAN RIGHT OF BANK CREDIT

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Mariana Rodica ȚÎRLEA

2015-04-01

Full Text Available According to Directive 93/13 / EEC on unfair terms in consumer contracts, "legislation of Member States on unfair terms in contracts concluded with consumers show significant divergences” (Official Journal of the European Union 31993L0013 - L 095/29. Therefore, the solution to eliminate these differences of balance in bank lending contracts requires promptly a consumer protection against unfair terms by adopting uniform rules of European law concerning unfair clauses. With this protection is desired that this would be subject to all contracts concluded between sellers or suppliers and consumers, to be harmonized at Community level or adopted directly at Community level, to be provided both in the laws, regulations and administrative nature acts, because to the Member States of the European community falls the responsibility to ensure that in contracts concluded with consumers there are not provided unfair clauses.

THE IMPACT OF NEW REGULATION ON FOUR EUROPEAN BANKING SYSTEMS. A BASEL III APPROACH

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Anamaria AVADANEI

2013-12-01

Full Text Available One of the solutions designed to rebuild the banking system is the reconfiguration of the regulatory framework. Still active, the episodes of liquidity shortage and bank failure ask for solid measures in order to increase the solidity of individual institutions, to protect the financial stability of the banking systems and to maintain confidence on the markets. The aim of this paper is to analyze the situation of four European banking systems (Czech Republic, Poland, Romania and Croatia in terms of Basel III standards. Structured on three parts, the study points out the real concerns regarding Basel III effectiveness; analyzes the evolutions of capital, leverage and liquidity indicators and highlights the future possible scenarios/actions for aligning to the new regulation. To conclude, we determine the white and the black spots of the selected banking systems related to Basel III implementation. The results show good levels of capital in Poland, Czech Republic, Croatia and Romania, and some liquidity issues in Poland. The Czech and the Croatian banking systems are the best prepared for shocks.

Central Banking and the Crisis. A Comparison of the Federal Reserve and the European Central Bank Measures, and the ECB’s Changing Role in the EU Economic Governance System

Directory of Open Access Journals (Sweden)

Marcin Roman Czubala

2016-06-01

Full Text Available The European Central Bank (ECB has received a lot of criticism for its too little, too late performance to ease market pressures during the economic crisis. At the same time, the ECB and the Federal Reserve (FED have managed the new economic realities that have emerged in the international context differently. Despite the criticisms, the European Central Bank is the European Union institution that has assumed more control due to the new model of economic governance of the EU. Why did the Federal Reserve act so nimbly and quickly to calm the markets, while the ECB was so cautious in managing monetary policy? The aim of this paper is to perform a comparative analysis of the management of interest rates and other monetary policy measures undertaken by the Central Bank and the Federal Reserve during the economic crisis, as well as to understand the changes in the context of the ECB and the emergence of its authority within the European Union’s economic governance model since 2011. Thus, in order to carry out a scrupulous exposition, we will also limit the time frame of this study to the 2007-2014 period.

The European carbon market (2005-2007): banking, pricing and risk hedging strategies

International Nuclear Information System (INIS)

Chevallier, J.

2008-11-01

This thesis investigates the market rules of the European carbon market (EU ETS) during 2005-2007. We provide theoretical and empirical analyses of banking and borrowing provisions, price drivers and risk hedging strategies attached to tradable quotas, which were introduced to cover the CO 2 emissions of around 10,600 installations in Europe. In Chapter 1, we outline the economic and environmental effects of banking and borrowing on tradable permits markets. More specifically, we examine the banking and borrowing provisions adopted in the EU ETS, and the effects of banning banking between Phases I and II on CO 2 price changes. We show statistically that the low levels of CO 2 prices recorded until the end of Phase I may be explained by the restriction on the inter-period transfer of allowances, besides the main explanations that were identified by market observers. In Chapter 2, we identify the carbon price drivers since the launch of the EU ETS on January 1, 2005. We emphasize the central role played by the 2005 yearly compliance event imposed by the European Commission in revealing the net short/long position at the installation level in terms of allowances allocated with respect to verified emissions. The main result of this study features that price drivers of CO 2 allowances linked to energy market prices and unanticipated weather events vary around institutional events. Moreover, we show the influence of the variation of industrial production in three sectors covered by the EU ETS on CO 2 price changes by applying a disentangling analysis, that has also been extended at the country-level. In Chapter 3, we focus on the risk hedging strategies linked to holding CO 2 allowances. By using a methodology applied on stock markets, we recover the changes in investors' average risk aversion. This study shows that, during the time period considered, risk aversion has been higher on the carbon market than on the stock market, and that the risk is linked to an increasing

The European central bank and the us federal reserve as lender of last resort

Directory of Open Access Journals (Sweden)

Herr Hansjörg

2014-01-01

Full Text Available Without a lender of last resort financial stability is not possible and systemic financial crises get out of control. During and after the Great Recession the US Federal Reserve System (Fed and the European Central Bank (ECB took on the role of lender of last resort in a comprehensive way. The Fed stabilised the financial system, including the shadow banking system. However, the chance to fundamentally restructure the financial system was not used. The ECB was confronted with sovereign debt crises and an incomplete integration of the European Monetary Union (EMU. It followed a kind of “muddling through” to keep the Euro area together. In the EMU not only a fundamental restructuring of the financial system is needed but also a deeper economic and political integration. The Fed and the ECB both were the most important institutions to avoid repetition of the 1930s.

Measurement of cost efficiency in the European banking industry

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Branka Tuškan

2016-04-01

Full Text Available In this paper we analysed and compared efficiency results in the banking industry using two different approaches: financial indicators and the Data Envelopment Analysis (DEA methodology. In the indicator-based approach, we used chosen accounting ratios (Return on Assets - ROA, Return on Equity – ROE and Cost to Income Ratio - CIR and the descriptive statistics methodology to conduct analysis. In the case of DEA, a nonparametric linear programming methodology approach, expenses as input data and income as output data are used for measuring efficiency using the CCR DEA model, BCC DEA model and window analysis DEA technique. The objective of this research is ascertain whether a correlation exists between the results of the different ways of measuring efficiency. In that sense, the main purpose of this research is to draw a more precise conclusion about the efficiency of the banking industry, as tested for the period 2008–2012 on a sample of 28 European banking systems. The main difference in the obtained results is a lag of values of average accounting ratios in comparison to the results of the DEA methodology. Such a finding suggests that the DEA methodology can be useful in detecting early signs of inadequate business strategies, which can lead to the slowdown of business activity or poorer efficiency results. This can be especially important in times of an unstable financial or macroeconomic environment, as it can assist in detecting early signs of a crisis. In general, the results of both approaches suggest that banking systems in post-transition countries have a higher cost efficiency. Such systems continue to be dominantly financed through long-term deposits and are also exposed to a specific risk. They do business in a specific competitive, financial and macroeconomic environment that significantly influences the prices of financial services (i.e. higher margins, and as a consequence, leads to potentially higher banking sector earnings.

Institutionalisation without Internalisation. The Cultural Dimension of French-German Conflicts on European Central Bank

NARCIS (Netherlands)

van Esch, F.A.W.J.; Jong, Eelke, De

2013-01-01

When accepting the Maastricht treaty, the members of the Euro-zone agreed on the establishment of a very independent European Central Bank (ECB). Over the years, however, French political leaders systematically brought forward proposals undermining the ECB’s independence, much to the dismay of their

Involving patients in a multidisciplinary European consensus process and in the development of a 'patient summary of the consensus document for colon and rectal cancer care'.

Science.gov (United States)

Boelens, Petra G; Taylor, Claire; Henning, Geoffrey; Marang-van de Mheen, Perla J; Espin, Eloy; Wiggers, Theo; Gore-Booth, Jola; Moss, Barbara; Valentini, Vincenzo; van de Velde, Cornelis J H

2014-01-01

High-quality cancer care should be accessible for patients and healthcare professionals. Involvement of patients as partners in guideline formation and consensus processes is still rarely found. EURECCA, short for European Registration of Cancer Care, is the platform to improve outcomes of cancer care by reducing variation in the diagnostic and treatment process. EURECCA acknowledges the important role of patients in implementation of consensus information in clinical practice. The aim of this article is to describe the process of involving patients in the consensus process and in developing the patient summary of the consensus for colon and rectal cancer care. The Delphi method for achieving consensus was used. Three online voting rounds and one tele-voting round were offered to an expert panel of oncology professionals and patient representatives. At four different stages, patients and/or patient representatives were involved in the process: (1) during the consensus process, (2) lecturing about the role of the patient, (3) development of the patient summary, and (4) testing the patient summary. Representatives were invited to the voting and commenting rounds of this process and given an equal vote. Although patients were not consulted during the planning stages of this process, patient involvement increased following the panel's discussion of the implementation of the consensus among the patient population. After the consensus meeting, the patient summary was written by patient representatives, oncologists and nurses. A selection of proactive patients reviewed the draft patient summary; responses were positive and several patient-reported outcomes were added. Questionnaires to evaluate the use and implementation of the patient summary in daily practice are currently being developed and tested. Patient consultation will be needed in future planning for selection of topics. The present study may function as a model for future consensus processes to involve patients

THE EUROPEAN CENTRAL BANK AND THE FEDERAL RESERVE: A COMPARATIVE ANALYSIS

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Dorina Clichici

2017-06-01

Full Text Available The purpose of this article is to identify the main differences and similarities between the European Central Bank (ECB and US Federal Reserve (FED in terms of their functional framework and monetary policy. The research is based on a comparative analysis of the history of establishing the Eurosystem and the Federal Reserve System, which has influenced the way these central banks operate today. It also analyzes the policy responses of the two institutions to the 2007 global financial crisis, since both their non-conventional policy measures and the effects thereof on growth, inflation and unemployment rates were slightly different. The paper finds that there are differences between the ECB and FED rather regarding the organization and functioning of the Committees for monetary policy and monetary policy objectives than the institutional structure and policy framework

Cooperation Agreement between the European Central Bank and Europol for Combating Euro Counterfeiting. Some Critical Opinions

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Bogdan Birzu

2016-08-01

Full Text Available Within this paper there has been examined the Agreement between the European Police Office (Europol and the European Central Bank (ECB for preventing and combating euro counterfeiting, focusing on certain provisions which take into account the aim and the exchange of information between the two European institutions. The novelty of this paper relates to the achieved examination, where it is highlighted the importance of European legal instrument and the critical opinions and proposals for improving the agreement. The paper can be useful to academics and practitioners who conduct their activity within this area.

BANKING UNION - ROMANIAN PERSPECTIVE

Directory of Open Access Journals (Sweden)

Coroiu Sorina Ioana

2015-07-01

Full Text Available The financial crisis showed that banks were not able to face the loss, because there is no framework for a resolution, so that it intervened with money from taxpayers. So, it has been highlighted the need to update the regulations applicable to the banking sector. Creating a single supervisory mechanism in the fall of 2014 was a time reference point to achieve a banking union in Europe. Banking Union is one of the four foundations for a genuine Economic and Monetary Union. The paper’s purpose is to analyze the Banking Union structure, based on three pillars: (i The Single Supervisory Mechanism - the transfer of the main responsibility regarding banking supervision from national to European level, (ii The Single Resolution Mechanism - introduction of common provisions to ensure legal support required to manage bank failures problem, (iii The Deposit Guarantee Schemes - harmonization of deposit guarantee rules. These measures were adopted at European Union level to ensure the stability of the European banking system and to prevent future crises. Because countries that are not part of the euro area are not required to join the Banking Union, the dilemma of these countries lies in the decision to join the Banking Union quickly or to wait. It is the case of Romania, also, so, this paper analyze the opportunity of Romania's accession to the Banking Union before adopting the euro. There are analyzed the advantages and disadvantages of Romania's participation in the Banking Union, showing that, in the context of single currency introduction, Romania's participation is required. So far, there are reduced debates regarding the need, advantages and disadvantages of Romania's participation in the European Banking Union, the top representatives of the National Bank of Romania being among the few who expressed their views in public and published papers on the subject.

Reviewing and addressing the link between mass media and the increase in obesity among European children: The European Academy of Paediatrics (EAP) and The European Childhood Obesity Group (ECOG) consensus statement.

Science.gov (United States)

Mazur, Artur; Caroli, Margherita; Radziewicz-Winnicki, Igor; Nowicka, Paulina; Weghuber, Daniel; Neubauer, David; Dembiński, Łukasz; Crawley, Francis P; White, Martin; Hadjipanayis, Adamos

2018-04-01

This study reviewed the link between social media and the growing epidemic of childhood obesity in Europe. A task force from the European Academy of Paediatrics and the European Childhood Obesity Group searched published literature and developed a consensus statement. It found that there was evidence of a strong link between obesity levels across European countries and childhood media exposure and that parents and society needed a better understanding of the influence of social media on dietary habits. Health policies in Europe must take account of the range of social media influences that promote the development of childhood obesity. ©2017 Foundation Acta Paediatrica. Published by John Wiley & Sons Ltd.

The top five research priorities in physician-provided pre-hospital critical care: a consensus report from a European research collaboration

Directory of Open Access Journals (Sweden)

Lockey David

2011-10-01

Full Text Available Abstract Background Physician-manned emergency medical teams supplement other emergency medical services in some countries. These teams are often selectively deployed to patients who are considered likely to require critical care treatment in the pre-hospital phase. The evidence base for guidelines for pre-hospital triage and immediate medical care is often poor. We used a recognised consensus methodology to define key priority areas for research within the subfield of physician-provided pre-hospital critical care. Methods A European expert panel participated in a consensus process based upon a four-stage modified nominal group technique that included a consensus meeting. Results The expert panel concluded that the five most important areas for further research in the field of physician-based pre-hospital critical care were the following: Appropriate staffing and training in pre-hospital critical care and the effect on outcomes, advanced airway management in pre-hospital care, definition of time windows for key critical interventions which are indicated in the pre-hospital phase of care, the role of pre-hospital ultrasound and dispatch criteria for pre-hospital critical care services. Conclusion A modified nominal group technique was successfully used by a European expert group to reach consensus on the most important research priorities in physician-provided pre-hospital critical care.

THE MANIFESTATION OF THE EUROPEAN CENTRAL BANK’S LEGAL PERSONALITY AT NATIONAL, EUROPEAN AND INTERNATIONAL LEVEL

Directory of Open Access Journals (Sweden)

MONICA ŞAGUNA

2012-05-01

Full Text Available The European Central Bank is one of the world’ s most important central banks, responsible for the monetary policy covering the 17 member States of the Eurozone. Established by the European Union in 1998, it was given the exclusive right to authorize the issue of banknotes within the European Union. The European Central Bank has legal personality under public international law. As article 282, paragraph 3 of the Treaty on functioning of the European Union and article 9, paragraph 1 of the Statute of the European System of Central Banks and of the European Central Bank states, the European Central Bank and the National Central Banks enjoy their own legal personality. The European Central Bank, given its important role in the economic integration, is the single institution of the European Union which has legal personality. This is a premise for it to fulfill its objectives. In this framework, the purpose of my paper is to analyze the effects of the European Central Bank’s legal personality from a complete perspective: at national, European and international level. Therefore the objectives of my study are: an introspection in the concept of legal personality, the identification of the reason why it was entrusted to a single institution of the European Union and a detailed analyze of the effects of the European Central Bank’ s legal personality.

Statin-associated muscle symptoms: impact on statin therapy-European Atherosclerosis Society Consensus Panel Statement on Assessment, Aetiology and Management

NARCIS (Netherlands)

Stroes, Erik S.; Thompson, Paul D.; Corsini, Alberto; Vladutiu, Georgirene D.; Raal, Frederick J.; Ray, Kausik K.; Roden, Michael; Stein, Evan; Tokgözoğlu, Lale; Nordestgaard, Børge G.; Bruckert, Eric; de Backer, Guy; Krauss, Ronald M.; Laufs, Ulrich; Santos, Raul D.; Hegele, Robert A.; Hovingh, G. Kees; Leiter, Lawrence A.; Mach, Francois; März, Winfried; Newman, Connie B.; Wiklund, Olov; Jacobson, Terry A.; Catapano, Alberico L.; Chapman, M. John; Ginsberg, Henry N.; Leiter, Lawrence

2015-01-01

Statin-associated muscle symptoms (SAMS) are one of the principal reasons for statin non-adherence and/or discontinuation, contributing to adverse cardiovascular outcomes. This European Atherosclerosis Society (EAS) Consensus Panel overviews current understanding of the pathophysiology of

The European platform for financial education as incentive for the national efforts in implementing financial literacy programs: The case of the Association of Serbian Banks

Directory of Open Access Journals (Sweden)

Sredojević Slađana

2017-01-01

Full Text Available A sustainable financial system relies on two pillars: the functional and healthy financial institutions, as well as the financially competent customers-investors-entrepreneurs. The responsibility for the implementation of training programs and preparation for the well-informed choice does not lie only with the natural persons and legal entities. This is a shared responsibility of different stakeholders: individuals, families, small and medium enterprises, public administration, the Ministry of Education, the financial services sector, employers and representatives of trade unions and consumer protection organizations as well as other civil society initiatives. A prime example of such an integrated approach towards the same goal is the European Platform for Financial Education, an initiative launched by the European Banking Federation, the European Banking Training Network and other institutions (professional associations, in February 2017 in Brussels as an incentive for the national level efforts in implementing the respective financial literacy programs. In this paper we analyzed the importance and role of the European Platform for Financial Education in the case of the Serbian banking sector through the activities of the Association of Serbian Banks. These activities will be implemented by the Association of Banks of Serbia continuously throughout the year, and after the celebration of the European Money Week on 27-31 March 2017.

Central Banking after the Crisis

OpenAIRE

Frederick S. Mishkin

2013-01-01

This paper explores where central banking is heading after the recent financial crisis. First it discusses the central bank consensus before the crisis and then outlines the key facts learned from the crisis that require changes in the way central banks conduct their business. Finally, it discusses four main areas in which central banks are altering their policy frameworks: 1) the interaction between monetary and financial stability policies, 2) nonconventional monetary policy, 3) risk manage...

The democratic accountability of the European Central Bank : A comment on two fairy-tales

NARCIS (Netherlands)

De Haan, J; Eijffinger, SCW

The European Central Bank (ECB) is widely considered to be (legally) independent. Buiter (1999) critizes the ECB for its lack of democratic accountability, which he does not define in a very precise way. Issing (1999) replies to some of the points raised by Buiter and argues that the ECB is both

Implementation process of all periodontal competences and assessments as proposed in the 2010 European consensus meeting into the existing local undergraduate curriculum.

Science.gov (United States)

Schoonheim-Klein, M; Ong, T S; Loos, B G

2016-11-01

To report on our implementation process within the existing local curriculum of all periodontal competences and assessments as proposed in the 2010 European consensus meeting. In 2011, a workshop for all teaching staff at the Department of Periodontology, ACTA, an education and assessment blueprint, was developed to test for missing education and assessment of European competences, divided into seven domains. This was repeated in 2013. An oral evaluation of the staff followed both meetings. It appeared that eight of 58 (14%) European competences were not taught, and 21 (35%) competences were not assessed. After evaluation of the results on the actual curriculum and the assessment programme, shared decisions were made about how to teach and assess the missing competences within the local periodontal educational programme. The second workshop in 2013 revealed still 8 (14%) competences were not taught and 8 (14%) competences were not assessed. Staff appreciated the used method of validation; it gave insight and an overview of the curriculum. The existence of the European consensus report for undergraduate periodontal education, based on seven domains, has been instrumental and essential. The development of a blueprint from the education programme and concomitant assessment methods in periodontology by participating teaching staff gives a validation and appreciation of the curriculum and will improve the quality of education and assessment. It is advised that for quality control of the curriculum, dental schools could do this exercise for all their specialties if European consensus reports exist. © 2015 John Wiley & Sons A/S. Published by John Wiley & Sons Ltd.

TuBaFrost 5: multifunctional central database application for a European tumor bank.

Science.gov (United States)

Isabelle, M; Teodorovic, I; Morente, M M; Jaminé, D; Passioukov, A; Lejeune, S; Therasse, P; Dinjens, W N M; Oosterhuis, J W; Lam, K H; Oomen, M H A; Spatz, A; Ratcliffe, C; Knox, K; Mager, R; Kerr, D; Pezzella, F; van de Vijver, M; van Boven, H; Alonso, S; Kerjaschki, D; Pammer, J; Lopez-Guerrero, J A; Llombart Bosch, A; Carbone, A; Gloghini, A; van Veen, E-B; van Damme, B; Riegman, P H J

2006-12-01

Developing a tissue bank database has become more than just logically arranging data in tables combined with a search engine. Current demand for high quality samples and data, and the ever-changing legal and ethical regulations mean that the application must reflect TuBaFrost rules and protocols for the collection, exchange and use of tissue. To ensure continuation and extension of the TuBaFrost European tissue bank, the custodianship of the samples, and hence the decision over whether to issue samples to requestors, remains with the local collecting centre. The database application described in this article has been developed to facilitate this open structure virtual tissue bank model serving a large group. It encompasses many key tasks, without the requirement for personnel, hence minimising operational costs. The Internet-accessible database application enables search, selection and request submission for requestors, whereas collectors can upload and edit their collection. Communication between requestor and involved collectors is started with automatically generated e-mails.

Institutionalisation without internalisation. The cultural dimension of French-German conflicts on European Central Bank independence

NARCIS (Netherlands)

Esch, F.A.W.J. van; Jong, E. de

2013-01-01

When accepting the Maastricht treaty, the members of the Euro-zone agreed on the establishment of a very independent European Central Bank (ECB). Over the years, however, French political leaders systematically brought forward proposals undermining the ECB’s independence, much to the dismay of their

Maintaining success, reducing treatment burden, focusing on survivorship: highlights from the third European consensus conference on diagnosis and treatment of germ-cell cancer

NARCIS (Netherlands)

Beyer, J.; Albers, P.; Altena, R.; Aparicio, J.; Bokemeyer, C.; Busch, J.; Cathomas, R.; Cavallin-Stahl, E.; Clarke, N. W.; Claßen, J.; Cohn-Cedermark, G.; Dahl, A. A.; Daugaard, G.; de Giorgi, U.; de Santis, M.; de Wit, M.; de Wit, R.; Dieckmann, K. P.; Fenner, M.; Fizazi, K.; Flechon, A.; Fossa, S. D.; Germá Lluch, J. R.; Gietema, J. A.; Gillessen, S.; Giwercman, A.; Hartmann, J. T.; Heidenreich, A.; Hentrich, M.; Honecker, F.; Horwich, A.; Huddart, R. A.; Kliesch, S.; Kollmannsberger, C.; Krege, S.; Laguna, M. P.; Looijenga, L. H. J.; Lorch, A.; Lotz, J. P.; Mayer, F.; Necchi, A.; Nicolai, N.; Nuver, J.; Oechsle, K.; Oldenburg, J.; Oosterhuis, J. W.; Powles, T.; Rajpert-de Meyts, E.; Rick, O.; Rosti, G.; Salvioni, R.; Schrader, M.; Schweyer, S.; Sedlmayer, F.; Sohaib, A.; Souchon, R.; Tandstad, T.; Winter, C.; Wittekind, C.

2013-01-01

In November 2011, the Third European Consensus Conference on Diagnosis and Treatment of Germ-Cell Cancer (GCC) was held in Berlin, Germany. This third conference followed similar meetings in 2003 (Essen, Germany) and 2006 (Amsterdam, The Netherlands) [Schmoll H-J, Souchon R, Krege S et al. European

Maintaining success, reducing treatment burden, focusing on survivorship : highlights from the third European consensus conference on diagnosis and treatment of germ-cell cancer

NARCIS (Netherlands)

Beyer, J.; Albers, P.; Altena, R.; Aparicio, J.; Bokemeyer, C.; Busch, J.; Cathomas, R.; Cavallin-Stahl, E.; Clarke, N. W.; Classen, J.; Cohn-Cedermark, G.; Dahl, A. A.; Daugaard, G.; De Giorgi, U.; De Santis, M.; De Wit, M.; De Wit, R.; Dieckmann, K. P.; Fenner, M.; Fizazi, K.; Flechon, A.; Fossa, S. D.; Germa Lluch, J. R.; Gietema, J. A.; Gillessen, S.; Giwercman, A.; Hartmann, J.T.; Heidenreich, A.; Hentrich, M.; Honecker, F.; Horwich, A.; Huddart, R. A.; Kliesch, S.; Kollmannsberger, C.; Krege, S.; Laguna, M. P.; Looijenga, L. H. J.; Lorch, A.; Lotz, J. P.; Mayer, F.; Necchi, A.; Nicolai, N.; Nuver, J.; Oechsle, K.; Oldenburg, J.; Oosterhuis, J.W.; Powles, T.; Rajpert-De Meyts, E.; Rick, O.; Rosti, G.; Salvioni, R.; Schrader, M.; Schweyer, S.; Sedlmayer, F.; Sohaib, A.; Souchon, R.; Tandstad, T.; Wittekind, C.; Winter, E.

In November 2011, the Third European Consensus Conference on Diagnosis and Treatment of Germ-Cell Cancer (GCC) was held in Berlin, Germany. This third conference followed similar meetings in 2003 (Essen, Germany) and 2006 (Amsterdam, The Netherlands) [Schmoll H-J, Souchon R, Krege S et al. European

Some Considerations Regarding the European Banking Union

Directory of Open Access Journals (Sweden)

Marius Eugen Radu

2016-09-01

Full Text Available Union Bank is a surveillance system and an EU bank resolution, which operates on the basis of EU wide rules. It aims to ensure that the banking sector in the euro area and the EU in general is safe and reliable and viable banks benefiting from resolution without recourse to taxpayer funds and with minimal impact on the real economy. Banking union members are all euro-zone countries and EU Member States that have chosen to participate. All countries will adopt the euro in the future will automatically become members of the banking union. Countries that are not part of the euro area can join by establishing a close cooperation agreement.

Eschar removal by bromelain based enzymatic debridement (Nexobrid®) in burns: An European consensus.

Science.gov (United States)

Hirche, Christoph; Citterio, Antonella; Hoeksema, Henk; Koller, Ján; Lehner, Martina; Martinez, José Ramón; Monstrey, Stan; Murray, Alexandra; Plock, Jan A; Sander, Frank; Schulz, Alexandra; Ziegler, Benjamin; Kneser, Ulrich

2017-12-01

Early debridement and/or eschar removal is regarded as a significant step in the treatment of deep partial and full thickness burns. It aims to control wound bioburden and allows early wound closure by conservative treatment or skin grafting. Preservation of viable dermis accompanied by early wound closure, is regarded as a necessary step to reduce scar related complication, e.g. functional limitations and/or unaesthetic scar formation. Aside from the classical techniques of surgical excision as tangential excision for eschar removal, hydro-surgery, maggot therapy, laser, enzymatic debridement have been described as additional techniques in the burn surgeon's armamentarium. It is widely accepted that early eschar removal within 72h improves the outcome of burn wound treatment by reducing bacterial wound colonization, infection and length of hospital stay. In contrast, the right technique for eschar removal is still a matter of debate. There is increasing evidence that enzymatic debridement is a powerful tool to remove eschar in burn wounds, reducing blood loss, the need for autologous skin grafting and the number of wounds requiring surgical excision. In order to assess the role and clinical advantages of enzymatic debridement by a mixture of proteolytic enzymes enriched in Bromelain (Nexobrid ® ) beyond the scope of the literature and in view of users' experience, a European Consensus Meeting was scheduled. The aim was to provide statements for application, based on the mutual experience of applying enzymatic debridement in more than 500 adult and pediatric patients by the consensus panelists. Issues to be addressed were: indications, pain management and anesthesia, timing of application, technique of application, after-intervention care, skin grafting after enzymatic debridement, blood loss, training strategies and learning curve and areas of future research needs. Sixty-eight (68) consensus statements were provided for the use of enzymatic debridement. The

Judicial Deference Allows European Consensus to Emerge

DEFF Research Database (Denmark)

Dothan, Shai

2018-01-01

jurisdiction. But the ECHR sometimes defers to countries, even if their policies fall short of the standard accepted by most of the countries in Europe. This deference is accomplished by using the so-called "margin of appreciation" doctrine. Naturally, emerging consensus and margin of appreciation are often......, the paper demonstrates that a correct application of the margin of appreciation doctrine actually helps emerging consensus reach optimal results, by giving countries an incentive to make their policies independently....

Analysis of the Voting Method used in the European Central Bank

Directory of Open Access Journals (Sweden)

Honorata Sosnowska

2013-01-01

Full Text Available Game theoreticians usually deal with standard voting methods such as plurality voting or approval voting. In reality however, some complicated non-standard voting methods are used. In this paper the voting method and rotation scheme have been presented used by the Governing Council of the European Central Bank (ECB, as it enlarges to accommodate new members of the economic and monetary union. We present game theoretical approaches for analyzing this method and different methods of computing the Shapley value for games connected with voting under such rotation schemes. (original abstract

European Consensus Guidelines on the Management of Neonatal Respiratory Distress Syndrome in Preterm Infants - 2013 Update

DEFF Research Database (Denmark)

Sweet, David G; Carnielli, Virgilio; Greisen, Gorm

2013-01-01

Despite recent advances in the perinatal management of neonatal respiratory distress syndrome (RDS), controversies still exist. We report updated recommendations of a European Panel of expert neonatologists who developed consensus guidelines after critical examination of the most up-to-date evide...... maintenance of normal body temperature, proper fluid management, good nutritional support, appropriate management of the ductus arteriosus and support of the circulation to maintain adequate tissue perfusion....

Financing energy projects at the European Bank for reconstruction

International Nuclear Information System (INIS)

Unterwurzacher, E.

1992-01-01

Investments in the energy sectors of Central and Eastern European countries and in the republics of the former USSR have a pivotal role to play in the economic and political restructuring of the centrally planned economies. The amount of capital required for energy sector investments in the countries of operation clearly exceed the financial possibilities of economies in transition, but they are necessary to underpin economic reform. Moreover they contribute to sector development, help alleviate energy shortages, increase energy securities, realize increased foreign exchange earnings and can reduce the environmental impact of energy production and use. Energy supply of several countries of operation is highly dependent on coal. In general throughout the region, coal is produced and used in a way which pays less attention to the potential negative environmental consequences. Current mining practice often leads to groundwater contamination, power plants are only poorly equipped with abatement technologies, the quality of the coal is often poor, or the efficiency of coal conversion is low, which is primarily a result of the use of outdated technology. Bank operations try to address these issues and to combine in its activities improved economic efficiency of the energy sector with the amelioration of environmental conditions. This paper briefly summarizes the main features of the energy sector of countries of operation and highlights the significant role of the coal industry with regard to energy sector and the environment. The Bank's energy sector strategy is introduced and the instruments that the Bank has chosen for its financial operations are presented. Examples for operations in the energy sector as they are relevant for the coal industries are introduced

Il cambio dollaro/euro, il prezzo del petrolio e la Banca Centrale Europea (Dollar/Euro Exchange Rate, Oil Price and the European Central Bank

Directory of Open Access Journals (Sweden)

Stefano Sylos Labini

2000-09-01

Full Text Available In this paper an analysis on dollar/euro exchange rate, oil price and European Central Bank monetary policy is worked out. Firstly, data on the main variables related with the exchange rate and an equation to explain the variation of the exchange rate in the period March 1998-September 2000 are presented; secondly, the consequences of oil price growth and eurodevaluation on the US and European economies are taken into account; lastly, different policy strategies to stop eurodevaluation are discussed. The European Central Bank strategy, that consists of small increases of the interest rate, is not reaching any result. An alternative strategy is based on innovative public demand, that should be financed by European bonds using "central bank excess funds" as security. Public demand of infrastructures and new technologies should aim at reducing oil dependence and would stimulate growth and sustainable development in Europe, with positive effects on the exchange rate.

THE BANKING UNION – THE SOLUTION TO REDUCE THE EUROPEAN BANKING SYSTEM RISKS?

Directory of Open Access Journals (Sweden)

ALINA LIGIA DUMITRESCU

2014-11-01

Full Text Available The banking union has been seen as "a panacea" for solving the system risks of the EU banking system. This paper objectives are to find out if is the banking union, with is strong and week sides, will be right answer to solve the actual issues that EU banking system has as: the fragmentation in the EU single market, the deterioration in asset quality, the need for recapitalization and the quality of banks’ loan portfolios. According with most of the experts the banking union will strength the process of economic integration. On the other side, the non-euro area member states are questioning about "equal rights and obligations for all Member States" inside the banking union. But, with all pros and cons of the banking union, the ECB's making decisions and tasks can be questioned, although its role of supervisor can not be disputed. The most important thing is that the banking union breaks the vicious circle between banks and sovereign debts, and ends "to big to fail"

Fundamental Flaws in the Architecture of the European Central Bank: The Possible End of the Euro Zone and its Effects to East African Community (EAC Countries

Directory of Open Access Journals (Sweden)

Nothando Moyo

2014-09-01

Full Text Available European countries embarked on a European integration programme that saw the formation of the Euro, which has emerged as a major currency (Blair, 1999 that was introduced in 1998. With the Euro, came the establishment of the European Central Bank. Thus this study seeks to investigate the flaws in the formation of the European Central Bank that surfaced during the major economic crisis in Europe. The crisis revealing the gaps in the formation and structure of the European central bank have created major challenges for the Economic and Monetary Union (EMU. Through an extant review of literature the study will examine the East African Community Countries, investigating the ties they have to the euro zone to analyse how the crisis has affected them. Furthermore, the study will analyse what would happen to the growth patterns of the East African Countries and the various prospects they may have should the Eurozone come to an end.

The impact of the recent banking crisis on customer loyalty in the banking sector

DEFF Research Database (Denmark)

Skowron, Lukasz; Kristensen, Kai

2012-01-01

. The second part of the paper demonstrates statistical analysis of the obtained data from the Polish and European banking sector. The authors also present socio-demographic characteristic of the research samples and the character of the bank-client relations, comparative analysis of customer satisfaction...... and loyalty levels than clients of banks in Western Europe. Second, the recent banking crisis has affected the level of customer satisfaction much more strongly in developing European countries than in developed ones. Third, the recent banking crisis has changed the character of the process of building...... customer satisfaction and loyalty in Poland by strengthening the influence of the image area. Originality/value – Hardly anyone has tried to measure the influence of the banking crises at the level of customers’ satisfaction and the structure of the process of building long-term relations between banks...

Fundamental determinants of credit default risk for European and American banks

Directory of Open Access Journals (Sweden)

Patrycja Chodnicka-Jaworska

2017-10-01

Full Text Available The aim of the paper is to identify the fundamental variables driving banks’ credit default swaps. Quarterly data from 2004 to 2015 for European and American banks have been used. The analysis has been prepared through static panel data models. The following hypothesis has been put forward: the earnings potential, and economic uncertainty significantly influence credit risk. The independent variables used are CAMELS factors – Capital Adequacy, Asset Quality, Management Quality, Earnings Potential, Liquidity, and Sensitivity to Market Risk. The CDS spreads are most sensitive to the market risk factors whereas capital adequacy, earnings and liquidity indicators have weaker impact.

Il cambio dollaro/euro, il prezzo del petrolio e la Banca Centrale Europea (Dollar/Euro Exchange Rate, Oil Price and the European Central Bank

Directory of Open Access Journals (Sweden)

Stefano Sylos Labini

2012-04-01

Full Text Available In this paper an analysis on dollar/euro exchange rate, oil price and European Central Bank monetary policy is worked out. Firstly, data on the main variables related with the exchange rate and an equation to explain the variation of the exchange rate in the period March 1998-September 2000 are presented; secondly, the consequences of oil price growth and eurodevaluation on the US and European economies are taken into account; lastly, different policy strategies to stop eurodevaluation are discussed. The European Central Bank strategy, that consists of small increases of the interest rate, is not reaching any result. An alternative strategy is based on innovative public demand, that should be financed by European bonds using "central bank excess funds" as security. Public demand of infrastructures and new technologies should aim at reducing oil dependence and would stimulate growth and sustainable development in Europe, with positive effects on the exchange rate.       JEL Codes: E58, F31Keywords: Devaluation, Exchange Rates, Monetary

Processes for consensus building and role sharing. Lessons learned from HLW policies in European countries

International Nuclear Information System (INIS)

Nagano, Koji

2003-01-01

This report attempts to obtain lessons in implementation of HLW management policies for Japan by reviewing past experiences and present status of policy formulation and implementation as well as reflection of public opinions and consensus building of selected European countries, such as Finland, Sweden and others. After examining the situations of those countries, the author derives four key aspects that need to be addressed; separation of nuclear energy policies and HLW policies, fundamental support shared among national public, sense of controllability, and proper scheme of responsibility sharing. (author)

Sovereign debt and bank fragility in Spain

NARCIS (Netherlands)

van der Kwaak, C.; van Wijnbergen, S.

In May 2012 the Spanish government announced a debt-financed recapitalization of the undercapitalized Spanish banking system. Although there was a wide consensus among economists and policymakers that this was key to solving Spain’s economic troubles, both bank CDS and sovereign CDS further

Percutaneous coronary intervention for the left main stem and other bifurcation lesions: 12th consensus document from the European Bifurcation Club.

Science.gov (United States)

Lassen, Jens Flensted; Burzotta, Francesco; Banning, Adrian P; Lefèvre, Thierry; Darremont, Olivier; Hildick-Smith, David; Chieffo, Alaide; Pan, Manuel; Holm, Niels Ramsing; Louvard, Yves; Stankovic, Goran

2018-01-20

The European Bifurcation Club (EBC) was initiated in 2004 to support a continuous overview of the field of coronary artery bifurcation interventions and aims to facilitate a scientific discussion and an exchange of ideas on the management of bifurcation disease. The EBC hosts an annual, two-day compact meeting, dedicated to bifurcations, which brings together physicians, pathologists, engineers, biologists, physicists, mathematicians, epidemiologists and statisticians for detailed discussions. Every meeting is finalised with a consensus statement that reflects the unique opportunity of combining the opinion of interventional cardiologists with the opinion of a large variety of other scientists on bifurcation management. A series of consensus sessions dedicated to specific topics, to strengthen the consensus debates and focus the discussions, was introduced at this year's meeting. The sessions comprise an intensive overview of the present literature, a pro and con debate and a voting system, to guide the consensus-building process. The present document represents the summary of the up-to-date EBC consensus and recommendations from the 12th annual EBC meeting in 2016 in Rotterdam.

Communication skills training in oncology: a position paper based on a consensus meeting among European experts in 2009.

Science.gov (United States)

Stiefel, F; Barth, J; Bensing, J; Fallowfield, L; Jost, L; Razavi, D; Kiss, A

2010-02-01

Communication in cancer care has become a major topic of interest. Since there is evidence that ineffective communication affects both patients and oncology clinicians (physicians and nurses), so-called communication skills trainings (CSTs) have been developed over the last decade. While these trainings have been demonstrated to be effective, there is an important heterogeneity with regard to implementation and with regard to evidence of different aspects of CST. In order to review and discuss the scientific literature on CST in oncology and to formulate recommendations, the Swiss Cancer League has organised a consensus meeting with European opinion leaders and experts in the field of CST, as well as oncology clinicians, representatives of oncology societies and patient organisations. On the basis of a systematic review and a meta-analysis, recommendations have been developed and agreed upon. Recommendations address (i) the setting, objectives and participants of CST, (ii) its content and pedagogic tools, (iii) organisational aspects, (iv) outcome and (v) future directions and research. This consensus meeting, on the basis of European expert opinions and a systematic review and meta-analysis, defines key elements for the current provision and future development and evaluation of CST in oncology.

GenBank

OpenAIRE

Benson, Dennis A.; Karsch-Mizrachi, Ilene; Lipman, David J.; Ostell, James; Sayers, Eric W.

2008-01-01

GenBank? is a comprehensive database that contains publicly available nucleotide sequences for more than 300 000 organisms named at the genus level or lower, obtained primarily through submissions from individual laboratories and batch submissions from large-scale sequencing projects. Most submissions are made using the web-based BankIt or standalone Sequin programs, and accession numbers are assigned by GenBank? staff upon receipt. Daily data exchange with the European Molecular Biology Labo...

L’Unione Bancaria Europea. Di nuovo un disegno istituzionale incompleto (The European banking union. An incomplete institutional design, again

Directory of Open Access Journals (Sweden)

Mario Tonveronachi

2013-12-01

Full Text Available The proposal for a European banking union represents the more recent effort to drive the Eurozone countries towards the effective adoption of a single rulebook and a single supervisory handbook, at the same time endowing them with a centralised mechanism for the resolution of bank crises. The new institutional framework should help to disconnect banking operations from the vicissitudes of sovereign debts, to reverse the recent re-nationalisation of finance and to restore the effectiveness of ECB monetary policy. Although the new framework would mark a significant advancement with respect to the present situation, its predictable incomplete adoption, restricted to the single supervisory mechanism, coupled with the unwillingness to burden it with legacy problems, will most likely produce opposite results from its inception. Although the full implementation of the proposal would not constitute a departure from the political de-centralised design that has so far dominated the European construction, the potential fiscal implications of a centralised resolution mechanism have raised the same barriers that have so far impeded to complete the design initiated with the Maastricht Treaty.

The mediterranean solar plan, the symbol of a Euro-Mediterranean partnership? the european investment bank at the service of a policy for renewable energy

International Nuclear Information System (INIS)

Fontaine-Vive, Ph. de

2009-01-01

The European Investment Bank (EIB) was created in 1958 following the adoption of the Rome Treaty, this bank has lent support to economic growth and solidarity inside and outside the European Union. The energy sector is exemplary of the bank's ability to adapt and of its concern for a certain idea of Europe. This priority is examined from three complementary angles: the EIB and renewable energy; the EIB and the partnership for energy with our Mediterranean neighbors; and the EIB and the Mediterranean Solar Plan. It is recalled that in 2008, the EIB invested more than 10*10 9 euros in the energy sector including 2.2*10 9 euros for renewable energies

Actual versus Perceived Central Bank Transparency : The Case of the European Central Bank

NARCIS (Netherlands)

van der Cruijsen, C.A.B.; Eijffinger, S.C.W.

2007-01-01

Central banks have become more and more transparent about their monetary policy making process. In the central bank transparency lit- erature the distinction between actual and perceived central bank trans- parency is often lacking. However, as perceptions are crucial for the ac- tions of economic

Magnetic resonance imaging for the clinical management of rectal cancer patients: recommendations from the 2012 European Society of Gastrointestinal and Abdominal Radiology (ESGAR) consensus meeting

Energy Technology Data Exchange (ETDEWEB)

Beets-Tan, Regina G.H. [Maastricht University Medical Centre+, Maastricht (Netherlands); Maastricht University Medical Centre+, Department of Radiology, P.O. Box 5800, AZ, Maastricht (Netherlands); Lambregts, Doenja M.J.; Maas, Monique [Maastricht University Medical Centre+, Maastricht (Netherlands); Bipat, Shandra; Stoker, Jaap [Academic Medical Centre, Amsterdam (Netherlands); Barbaro, Brunella [Catholic University School of Medicine, Rome (Italy); Caseiro-Alves, Filipe; Curvo-Semedo, Luis [Coimbra University Hospitals, Coimbra (Portugal); Fenlon, Helen M. [Mater Misericordiae University Hospital, Dublin (Ireland); Gollub, Marc J. [Memorial Sloan-Kettering Cancer Center, New York (United States); Gourtsoyianni, Sofia [University Hospital of Heraklion, Crete (Greece); Guy' s and St. Thomas' NHS FT, London (United Kingdom); Halligan, Steve; Taylor, Stuart A. [University College London, Centre for Medical Imaging, London (United Kingdom); Hoeffel, Christine [Reims University Hospital, Reims (France); Kim, Seung Ho [Inje University Haeundae Paik Hospital, Busan (Korea, Republic of); Laghi, Andrea [Sapienza - University of Rome, Rome (Italy); Maier, Andrea [Medical University of Vienna, Vienna (Austria); Rafaelsen, Soeren R. [Vejle Hospital, Vejle (Denmark); Torkzad, Michael R. [Uppsala University, Uppsala (Sweden); Blomqvist, Lennart [Karolinska University Hospital and Karolinska Institutet, Stockholm (Sweden)

2013-09-15

To develop guidelines describing a standardised approach regarding the acquisition, interpretation and reporting of magnetic resonance imaging (MRI) for clinical staging and restaging of rectal cancer. A consensus meeting of 14 abdominal imaging experts from the European Society of Gastrointestinal and Abdominal Radiology (ESGAR) was conducted following the RAND-UCLA Appropriateness Method. Two independent (non-voting) chairs facilitated the meeting. Two hundred and thirty-six items were scored by participants for appropriateness and classified subsequently as appropriate or inappropriate (defined by {>=} 80 % consensus) or uncertain (defined by < 80 % consensus). Items not reaching 80 % consensus were noted. Consensus was reached for 88 % of items: recommendations regarding hardware, patient preparation, imaging sequences, angulation, criteria for MRI assessment and MRI reporting were constructed from these. These expert consensus recommendations can be used as clinical guidelines for primary staging and restaging of rectal cancer using MRI. (orig.)

The harmonization of banking legislation in the EU

Directory of Open Access Journals (Sweden)

Shkëlqesa Çitaku

2016-03-01

Full Text Available This paper attempts to assess the current legislation of banking in the European Union. The process of unification in Europe is also followed by efforts to harmonize and unify the laws of the member states. In the field of banking industry the precondition for harmonization of laws is the integration of internal market with the free movement of capital. The regulation and supervision of banks in EU still remains fragmented. European member states still have diverse regulations concerning the role of the state. The European Commission has the important function of proposing EU legislation on financial services including banks and ensuring that EU law is properly applied throughout the EU. Banks are considered as a key industry enabling all the economic activities via depositing, crediting and arranging of payments. A number of secondary legislation has been adopted by the EU institutions to harmonize the national banking law of Member States. The principles and objectives set by the European Commission Treaty depend on four EU freedoms with the aim of effective and open market including banks. Therefore it was a continuous process of harmonization of national banking regulation via secondary law since the 70’s.

THE ROLE OF EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT IN PROMOTING ENVIRONMENTALLY SOUND AND SUSTAINABLE DEVELOPMENT

Directory of Open Access Journals (Sweden)

CONSTANTIN BRĂGARU

2013-05-01

Full Text Available One of the most important development banks which finances private initiatives in the Central and Eastern Europe countries is the European Bank for Reconstruction and Development (EBRD. EBRD as international financial institution plays a very important role in the development of many sectors such as agribusiness, energy efficiency, financial institutions, manufacturing, municipal and environmental infrastructure, natural resources, power and energy, property and tourism, telecommunications, information technology and media, transport. Its objectives aim to promote transition to market economies by investing mainly in the private sector, to mobilize significant foreign direct investment, to support privatization, restructuring and better municipal services to improve people’s lives and to encourage environmentally sound and sustainable development. The present scientific article focuses on the last objective respectively the bank commitment to promote environmentally sound and sustainable development and shortly presents EBRD environmental policy because EBRD, unlike other development banks, has strong and imperative regulations regarding this issue. This is why all the EBRD potential beneficiaries must prove that their projects are environmentally sound.

Recent trends in cross-border banking

NARCIS (Netherlands)

De Haas, Ralph; van Horen, Neeltje; Beck, Thorsten; Casu, Barbara

2017-01-01

This chapter identifies a number of recent trends in European cross-border banking. The authors first distinguish between two main modes of international banking: cross-border versus multinational banking. Cross-border banking occurs when a bank in country A lends directly to a borrower in country

European Union; Publication of Financial Sector Assessment Program Documentation—Technical Note on Progress with Bank Restructuring and Resolution in Europe

OpenAIRE

International Monetary Fund

2013-01-01

This article is an analysis on the restructuring banking system of the European Union. The global financial crisis created the need to restructure by immensely reflecting weaknesses in the public, households, corporate, and other financial sectors. The restructuring includes the strengthening of bank resolution tools, the activation of nonperforming loans, the maintenance of macrofinancial framework, recovery of market access, and so on. The Executive Board recommends this transition of the E...

Transformation of the Polish Banking Sector

Directory of Open Access Journals (Sweden)

Marek Stefański

2009-07-01

Full Text Available In the post-war period the banking system in Poland underwent two important system transitions: after 1946 and after 1989. The third transformation began after May 1, 2004, but it did not have a systemic character. The Polish banking sector started to operate on the Single European Market. The first part of the paper is devoted to the problems of the banks transformations after 1989 with a special focus on the quantitative development of banks in 19892008, and on subsequent privatisation and consolidation processes. The former intensified in 19891999, and the latter in 19992002. The consolidation process was very noticeable in the sector of cooperative banks after 1994. The second part of the paper includes an economic and financial analysis of the banks. A lot of attention was paid to the liquidity of the banking sector. It was assessed as good, which was confirmed by a short-term rating of Moodys and by the Financial Stability Report 2009, published by the National Bank of Poland in June 2009. The comparison of the net profit of the banking sector in 19972008 shows its dependence on the economic situation and policy. The number of banks with capital adequacy ratio well above the minimum required by the banking supervision is rising. The financial power ratings are not favorable for the domestic banks. The third part of the paper focuses on the development directions of the Polish banking sector. It may be concluded on the basis of the analysis that privatisation and consolidation processes will be continued. They will concentrate on the capital of foreign banks already operating in Poland. As compared with individual foreign banks, the potential of the Polish banking sector is week. The fourth part of the paper focuses on the presentation Polish banking sector in the context of European Union banking sector. The paper finishes with conclusions. Generally, Polish banks have to implement a strategy to enable them to compete on the Single

ASSETS AND LIABILITIES DEPENDENCE: EVIDENCE FROM AN EUROPEAN SAMPLE OF BANKS

Directory of Open Access Journals (Sweden)

Cociuba Mihail Ioan

2014-12-01

Full Text Available In this paper we analyzed the correlation between asset and liabilities using the canonical correlation method, in the case of correlation we analyze the interdependence between two variables, by using canonical correlation analyses we study the interdependence between two groups of variables, X consisting of p variables and Y with q variables from which the best linear combination can be constructed to maximize the correlation between X and Y. While on the financial markets the relation between variables may be linear or non-linear and although canonical correlation analyses only the linear combination of variables it is a more efficient tool than then simple correlation.The asset group which we analyze is composed of different types of loans, derivatives and other earning assets, while in the group of liabilities we have deposits (short and long term, interest bearing liabilities and trading liabilities. We find that the assets and liabilities in the banking sector are directly linked. In the context of the global financial crisis (2007-2008 and the afterwards financial recession this direct correlation between assets and liabilities created a vicious cycle in which the losses from assets had a direct impact on the liabilities which also influenced the levels of assets.The behavior of different variables is important, especially in the financial markets, mainly due to the structure of financial markets. The banking sector and the systemic risk associated with it can affect the financial system and even the whole economy so the study of the correlation of assets and liabilities may give us insights on the causes of the financial crises. We use a panel of fifty-nine European banks for the 2004-2011 period and we analyses the correlation between assets and liabilities. We find that there exists a direct and strong connection between different classes of assets held by banks and the structure of liabilities. The impact of the economic crisis on

European consensus guidelines on the management of neonatal respiratory distress syndrome in preterm infants - 2010 update

DEFF Research Database (Denmark)

Sweet, David G; Carnielli, Virgilio; Greisen, Gorm

2010-01-01

Despite recent advances in the perinatal management of neonatal respiratory distress syndrome (RDS), controversies still exist. We report the updated recommendations of a European panel of expert neonatologists who had developed consensus guidelines after critical examination of the most up-to-date....... For babies with RDS to have best outcomes, it is essential that they have optimal supportive care, including maintenance of a normal body temperature, proper fluid management, good nutritional support, management of the ductus arteriosus and support of the circulation to maintain adequate tissue perfusion....

Consensus document on European brain research

DEFF Research Database (Denmark)

Di Luca, Monica; Baker, Mary; Corradetti, Renato

2011-01-01

will increase exponentially in the years to come due to ageing of the European population, it is necessary to act now in order to curb this increase and possibly reverse the trend. Thus, establishing a strong European platform supporting basic and clinical research in neuroscience is needed to confront...... version. Multinational and multidisciplinary teams have once again come together to express their views, not only on the current strengths in European research, but also on what needs to be done in priority, hoping that this update will inspire policy makers and stakeholders in directing funding...

Central banks: Paradise lost

OpenAIRE

Issing, Otmar

2012-01-01

The focus of the paper is to analyze how the concept behind central bank policy developed over time and how the recent financial crisis and its consequences will have an influence. While the principles of the institutional arrangement for central banks (independence, clear mandate, prohibition of monetary financing) are relevant as ever, pre- crisis consensus strategies of monetary policy have been revealed as flawed. The close monitoring of money and credit developments, a key lesson to be d...

The foreign exchange market interventions of the European Central Bank

Directory of Open Access Journals (Sweden)

M. Frenkel

2001-09-01

Full Text Available We analyze the effectiveness of the foreign exchange market interventionsconducted by the European Central Bank (ECB in the fall of 2000 to support the external stability of the euro. To this end, we discuss different channels through whichinterventions may influence exchange rate dynamics. We use the insights provided by the theoretical and empirical literature to evaluate the effectiveness of theintervention policy of the ECB. In addition, we present an empirical analysis in which we use intra-daily exchange rate data to examine in detail the effects of theinterventions. We find that the interventions only had a rather short-term impact on the exchange rate path and had no effects beyond the short term. Therefore, our results suggest that the intervention policy of the ECB was not effective.

L’Unione Bancaria Europea. Di nuovo un disegno istituzionale incompleto (The European banking union. An incomplete institutional design, again

Directory of Open Access Journals (Sweden)

Mario Tonveronachi

2013-12-01

Full Text Available The proposal for a European banking union represents the more recent effort to drive the Eurozone countries towards the effective adoption of a single rulebook and a single supervisory handbook, at the same time endowing them with a centralised mechanism for the resolution of bank crises. The new institutional framework should help to disconnect banking operations from the vicissitudes of sovereign debts, to reverse the recent re-nationalisation of finance and to restore the effectiveness of ECB monetary policy. Although the new framework would mark a significant advancement with respect to the present situation, its predictable incomplete adoption, restricted to the single supervisory mechanism, coupled with the unwillingness to burden it with legacy problems, will most likely produce opposite results from its inception. Although the full implementation of the proposal would not constitute a departure from the political de-centralised design that has so far dominated the European construction, the potential fiscal implications of a centralised resolution mechanism have raised the same barriers that have so far impeded to complete the design initiated with the Maastricht Treaty.  JEL Codes: E02, F33, G18 

REGULATION AND SUPERVISION OF BANKING ACTIVITY IN ROMANIA

Directory of Open Access Journals (Sweden)

Anisoara Niculina APETRI

2015-04-01

Full Text Available The main challenges currently faced by most central banks are generated by the effects of the economic and financial crisis. Thus, at the national, European and international level there is a trend of changing the economic governance structures and improving the regulatory and supervisory policies, focusing on macro-prudential oversight. In the context of changes at the European Union level, the central banks of the Member States become also subject to changes in their carried out actions. The objectives of this research aim mainly at: highlighting the role of the National Bank of Romania in regulating and supervising the banking system in Romania and analyzing the measures implemented by the National Bank of Romania after the crisis so far; identifying the challenges of the National Bank of Romania on the basis of changes operated by European Union at the supervisory framework level.

Non-Standard Monetary Policies Implemented By The European Central Bank After The Financial Crisis

Directory of Open Access Journals (Sweden)

Meryem Filiz Baştürk

2017-07-01

Full Text Available The financial crisis which began in the U.S. in 2007 influenced all economies on a global scale followingthe collapse of Lehman Brothers in September 2008. As a response to the crisis, central banksstarted to implement non-standard monetary policy tools as well as short-term interest rates alsoknown as standard policy tools in order to help monetary policy transmission channels work effectively.The European Central Bank (ECB implemented non-standard monetary policies as in additionto the standard policy tools during this period. The non-standard monetary policies introducedby the ECB were different from those implemented by other central banks (Fed, Bank of England interms of implementation and results. Firstly, the policies of the ECB were not specific to one singlecountry. Secondly, the banking system was the major source of finance in Europe, which had an impacton the policies. In this regard, the ECB introduced a policy of enhanced credit support consistingof five main elements in order to maintain price stability over the medium term following the crisis.By 2010, public debt in some member countries of the European Union reached high levels, requiringthem to take additional measures. The Securities Markets Programme was introduced to that end.Initially focusing on the debt securities of Greece, Ireland, and Portugal, the Securities Markets Programmewas expanded in August 2011 to cover the debt securities of Italy and Spain. In addition, twoLong-term Refinancing Operations (LTROs were introduced. This article presents a descriptive analysisof the non-standard monetary policy tools introduced by the ECB following the financial crisis.However, the monetary policy implemented in the Euro zone is not specific to one single country, andevery country has a different financial structure, both of which limit the effectiveness of the policiesimplemented. The changing structure of the monetary policy implemented in the aftermath of the crisisaims to

The European investment bank and financing the installation of urban refuse treatment plants with energy recovery

International Nuclear Information System (INIS)

Marty-Gauquie, H.

1992-01-01

The European Investment Bank (BEI), the world's leading international financing institution, with an annual loans total of 15.3 billion Ecus in 1991, every year finances a number of projects for the treatment of refuse, with energy recovery from waste and heat distribution. This article describes the missions of the BEI and the parameters taken into account for authorizing investment. (author). 2 figs., 2 tabs

Should the 'Outs' Join the Banking Union?

NARCIS (Netherlands)

P. Hüttl (Pia); D. Schoenmaker (Dirk)

2016-01-01

textabstractThe Single Market stimulates cross-border banking throughout the European Union. This paper documents the banking linkages between the 9 ‘outs’ and 19 ‘ins’ of the Banking Union. We find that some of the major banks, based in Sweden and Denmark, have substantial banking claims across the

The European Central Bank

OpenAIRE

Binder, Michael; Wieland, Volker

2006-01-01

The establishment of the ECB and with it the launch of the euro has arguably been a unique endeavor in economic history, representing an important experiment in central banking. This note aims to summarize some of the main lessons learned from this experiment and sketch some of the prospects for the ECB. It is written for "The New Palgrave Dictionary of Economics", 2nd edition. JEL Classification: E52, E58

Evaluation of holistic sexuality education: A European expert group consensus agreement.

Science.gov (United States)

Ketting, Evert; Friele, Minou; Michielsen, Kristien

2016-01-01

Holistic sexuality education (HSE) is a new concept in sexuality education (SE). Since it differs from other types of SE in a number of important respects, strategies developed for the evaluation of the latter are not necessarily applicable to HSE. In this paper the authors provide a basis for discussion on how to evaluate HSE. First, the international literature on evaluation of SE in general was reviewed in terms of its applicability to HSE. Second, the European Expert Group on Sexuality Education extensively discussed the requirements of its evaluation and suggested appropriate indicators and methods for evaluating HSE. The European experience in SE is scarcely represented in the general evaluation literature. The majority of the literature focuses on impact and neglects programme and implementation evaluations. Furthermore, the current literature demonstrates that evaluation criteria predominantly focus on the public health impact, while there is not yet a consensus on sexual well-being criteria and aspects of positive sexuality, which are crucial parts of HSE. Finally, experimental designs are still considered the gold standard, yet several of the conditions for their use are not fulfilled in HSE. Realising that a new evaluation framework for HSE is needed, the European expert group initiated its development and agreed upon a number of indicators that provide a starting point for further discussion. Aside from the health impact, the quality of SE programmes and their implementation also deserve attention and should be evaluated. To be applicable to HSE, the evaluation criteria need to cover more than the typical public health aspects. Since they do not register long-term and multi-component characteristics, evaluation methods such as randomised controlled trials are not sufficiently suitable for HSE. The evaluation design should rely on a number of different information sources from mixed methods that are complemented and triangulated to build a plausible case

Supervision in banking industry

OpenAIRE

Šmída, David

2012-01-01

The aim of submitted thesis Supervision in banking is to define the nature and the importance of banking supervision, to justify its existence and to analyze the applicable mechanisms while the system of banking regulation and supervision in this thesis is primarily examined in the European context, with a focus on the Czech Republic. The thesis is divided into five main chapters. The first chapter is devoted to the financial system and the importance of banks in this system, it defines the c...

Actual versus perceived central bank transparency: the case of the European Central Bank

NARCIS (Netherlands)

van der Cruijsen, C.; Eijffinger, S.

2008-01-01

Central banks have become more and more transparent about their monetary policy making process. In the central bank transparency literature the distinction between actual and perceived transparency is often lacking. However, as perceptions are crucial for the actions of economic agents this

76 XBRL-Based Projects for Financial and Prudential Reporting – an Empirical Analysis in European Banking System

Directory of Open Access Journals (Sweden)

Cristina Stefanescu

2014-04-01

Full Text Available Our paper approaches the extensible economic reporting language for collecting information on business processes, namely XBRL by analyzing its implementation in the European banking environment, closely related to the adoption of International Accounting Standards and Financial Reporting (IAS/IFRS. Our research problem mainly came from the accounting development issue, which is an evolutionary process dependent upon several factors. On the other hand, improving banking supervision on information reporting is a problem that needed special attention in order to increase its efficiency and effectiveness, especially in the latest period sprinkled with various banking failures. The results of the performed analysis using various statistical tools (descriptive statistic and correlation tests reveal that the implementation of both XBRL-based projects (FINREP and COREP is independent of a fully or partially adoption of IAS/IFRS, while the financial and prudential reporting frameworks are mainly inter-related. Thus, our paper came to point out XBRL‘s major role in facilitating information communication in a homogeneous way that will allow the interchange of data between software applications, as well as the automatic analysis of financial information in a particular business field, the banking one.

The european hematology association roadmap for european hematology research : A consensus document

NARCIS (Netherlands)

A. Engert (Andreas); C.L. Balduini (Carlo); A. Brand (Anneke); B. Coiffier (Bertrand); C. Cordonnier (Charlotte); H. Döhner (Hartmut); De Wit, T.D. (Thom Duyvené); Eichinger, S. (Sabine); W.E. Fibbe (Willem); Green, T. (Tony); De Haas, F. (Fleur); A. Iolascon (Achille); T. Jaffredo (Thierry); F. Rodeghiero (Francesco); G. Salles (Gilles); J.J. Schuringa (Jan Jacob)

2016-01-01

textabstractThe European Hematology Association (EHA) Roadmap for European Hematology Research highlights major achievements in diagnosis and treatment of blood disorders and identifies the greatest unmet clinical and scientific needs in those areas to enable better funded, more focused European

The European Hematology Association Roadmap for European Hematology Research : A consensus document

NARCIS (Netherlands)

Engert, Andreas; Balduini, Carlo; Brand, Anneke; Coiffier, Bertrand; Cordonnier, Catherine; Döhner, Hartmut; de Wit, Thom Duyvené; Eichinger, Sabine; Fibbe, Willem; Green, Tony; de Haas, Fleur; Iolascon, Achille; Jaffredo, Thierry; Rodeghiero, Francesco; Salles, Gilles; Schuringa, Jan Jacob

The European Hematology Association (EHA) Roadmap for European Hematology Research highlights major achievements in diagnosis and treatment of blood disorders and identifies the greatest unmet clinical and scientific needs in those areas to enable better funded, more focused European hematology

Consensus Statement of the European Urology Association and the European Urogynaecological Association on the Use of Implanted Materials for Treating Pelvic Organ Prolapse and Stress Urinary Incontinence.

Science.gov (United States)

Chapple, Christopher R; Cruz, Francisco; Deffieux, Xavier; Milani, Alfredo L; Arlandis, Salvador; Artibani, Walter; Bauer, Ricarda M; Burkhard, Fiona; Cardozo, Linda; Castro-Diaz, David; Cornu, Jean Nicolas; Deprest, Jan; Gunnemann, Alfons; Gyhagen, Maria; Heesakkers, John; Koelbl, Heinz; MacNeil, Sheila; Naumann, Gert; Roovers, Jan-Paul W R; Salvatore, Stefano; Sievert, Karl-Dietrich; Tarcan, Tufan; Van der Aa, Frank; Montorsi, Francesco; Wirth, Manfred; Abdel-Fattah, Mohamed

2017-09-01

Surgical nonautologous meshes have been used for several decades to repair abdominal wall herniae. Implantable materials have been adopted for the treatment of female and male stress urinary incontinence (SUI) and female pelvic organ prolapse (POP). A consensus review of existing data based on published meta-analyses and reviews. This document summarises the deliberations of a consensus group meeting convened by the European Association of Urology (EAU) and the European Urogynecological Association, to explore the current evidence relating to the use of polypropylene (PP) materials used for the treatment of SUI and POP, with reference to the 2016 EAU guidelines (European Association of Urology 2016), the European Commission's SCENIHR report on the use of surgical meshes (SCENIHR 2015), other available high-quality evidence, guidelines, and national recommendations. Current data suggest that the use of nonautologous durable materials in surgery has well-established benefits but significant risks, which are specific to the condition and location they are used for. Various graft-related complications have been described-such as infection, chronic pain including dyspareunia, exposure in the vagina, shrinkage, erosion into other organs of xenografts, synthetic PP tapes (used in SUI), and meshes (used in POP)-which differ from the complications seen with abdominal herniae. When considering surgery for SUI, it is essential to evaluate the available options, which may include synthetic midurethral slings (MUSs) using PP tapes, bulking agents, colposuspension, and autologous sling surgery. The use of synthetic MUSs for surgical treatment of SUI in both male and female patients has good efficacy and acceptable morbidity. Synthetic mesh for POP should be used only in complex cases with recurrent prolapse in the same compartment and restricted to those surgeons with appropriate training who are working in multidisciplinary referral centres. Synthetic slings can be safely used

ESMO consensus conference on malignant lymphoma

DEFF Research Database (Denmark)

Ladetto, M; Buske, C; Hutchings, M

2016-01-01

The European Society for Medical Oncology (ESMO) consensus conference on mature B-cell lymphomas and chronic lymphocytic leukaemia (CLL) was held on 20 June 2015 in Lugano, Switzerland, and included a multidisciplinary panel of 25 leading experts. The aim of the conference was to develop recommen......The European Society for Medical Oncology (ESMO) consensus conference on mature B-cell lymphomas and chronic lymphocytic leukaemia (CLL) was held on 20 June 2015 in Lugano, Switzerland, and included a multidisciplinary panel of 25 leading experts. The aim of the conference was to develop...... to their potentially high prognostic value, at least in some lymphoma entities, implementation of interim PET, COO and MRD was highly recommended in the context of clinical trials. All expert panel members approved this final article....

Bank/sovereign Risk Spillovers in the European Debt Crisis

NARCIS (Netherlands)

De Bruyckere, V.; Gerhardt, M.; Schepens, G.

2012-01-01

Abstract: This paper investigates contagion between bank risk and sovereign risk in Europe over the period 2006-2011. Since this period covers various stages of the banking and sovereign crisis, it offers a fertile ground to analyze bank/sovereign risk spillovers. We define contagion as excess

The development of a consensus definition for healthcare improvement science (HIS) in seven European countries: A consensus methods approach.

Science.gov (United States)

Skela-Savič, Brigita; Macrae, Rhoda; Lillo-Crespo, Manuel; Rooney, Kevin D

2017-06-01

There is a limited body of research in the field of healthcare improvement science (HIS). Quality improvement and 'change making' should become an intrinsic part of everyone's job, every day in all parts of the healthcare system. The lack of theoretical grounding may partly explain the minimal transfer of health research into health policy. This article seeks to present the development of the definition for healthcare improvement science. A consensus method approach was adopted with a two-stage Delphi process, expert panel and consensus group techniques. A total of 18 participants were involved in the expert panel and consensus group, and 153 answers were analysed as a part of the Delphi survey. Participants were researchers, educators and healthcare professionals from Scotland, Slovenia, Spain, Italy, England, Poland, and Romania. A high level of consensus was achieved for the broad definition in the 2nd Delphi iteration (86%). The final definition was agreed on by the consensus group: 'Healthcare improvement science is the generation of knowledge to cultivate change and deliver person-centred care that is safe, effective, efficient, equitable and timely. It improves patient outcomes, health system performance and population health.' The process of developing a consensus definition revealed different understandings of healthcare improvement science between the participants. Having a shared consensus definition of healthcare improvement science is an important step forward, bringing about a common understanding in order to advance the professional education and practice of healthcare improvement science.

The banking union and the financial and banking system reform in EU

Directory of Open Access Journals (Sweden)

Alina Ligia Dumitrescu

2013-04-01

Full Text Available Coordination among supervisors in financial and banking system is vital, but the financial crisis has shown that is not enough, and especially in the context of a single currency would require more common actions in EU. Therefore, the European Commission proposed “the creation of a banking union”, in order to place the banking sector on a more solid base and to restore confidence in the single currency, as part of a longer-term vision for the promotion of the economic and fiscal integration. Therefore, the new direction of the reform of the financial sector is "the creation of a banking union", that will help: to strengthen banks supervision, to ensure better deposits security, to recapitalize banks and last but not least to achieve the centralized management of the banking crises.

Bank guarantee in Serbian and European legal systems

Directory of Open Access Journals (Sweden)

Pajtić Bojan L.

2015-01-01

Full Text Available The paper analyses a bank guarantee as an institute derived from a surety contract. By issuing a bank guarantee the bank commits to the creditor that it will fulfill valid and due liabilities of a debtor, in the event of default by the debtor. This collateral demonstrates significant advantages as compared to other personal assets, particularly with regards to a higher level of protection to creditors in contractual relations. Due to the aforementioned benefit the institute has been increasingly applied in legal dealings, both in our and other legal systems. In the paper, I will point out normative solutions in terms of regulation of a bank guarantee as a specific legal activity in which there is no accessoriness, which is not the case with security. This research particularly focuses on the comparative legal analysis of this collateral.

Bank Resolution in Europe

DEFF Research Database (Denmark)

N. Gordon, Jeffery; Ringe, Georg

2015-01-01

Bank resolution is a key pillar of the European Banking Union. This column argues that the current structure of large EU banks is not conducive to an effective and unbiased resolution procedure. The authors would require systemically important banks to reorganise into a ‘holding company’ structure......, where the parent company holds unsecured term debt sufficient to cover losses at its operating financial subsidiaries. This would facilitate a ‘single point of entry’ resolution procedure, minimising the risk of creditor runs and destructive ring-fencing by national regulators....

ESMO Consensus Conference on malignant lymphoma

DEFF Research Database (Denmark)

Buske, C; Hutchings, M; Ladetto, M

2018-01-01

The European Society for Medical Oncology (ESMO) consensus conference on mature B cell lymphomas and chronic lymphocytic leukaemia (CLL) was held on 20 June 2015 in Lugano, Switzerland, and included a multidisciplinary panel of 25 leading experts. The aim of the conference was to develop recommen......The European Society for Medical Oncology (ESMO) consensus conference on mature B cell lymphomas and chronic lymphocytic leukaemia (CLL) was held on 20 June 2015 in Lugano, Switzerland, and included a multidisciplinary panel of 25 leading experts. The aim of the conference was to develop...... of the three key areas identified. This manuscript presents the consensus recommendations regarding the clinical management of elderly patients diagnosed with malignant lymphoma. Four clinically-relevant topics identified by the panel were: 1) how to define patient fitness, 2) assessing quality of life, 3......) diagnostic work-up and 4) clinical management of elderly patients with lymphoma. Each of these key topics is addressed in the context of five different lymphoma entities, namely: CLL, follicular lymphoma, mantle cell lymphoma, peripheral T-cell lymphoma and diffuse large B-cell lymphoma. Results, including...

The Sovereign Debt Crisis in Europe, Save Banks Not States

Directory of Open Access Journals (Sweden)

Schäfer, Hans-Bernd

2012-08-01

Full Text Available The European central bank is a bank of banks but not a bank of states. This reduces the capabilities of member states to finance deficits. The role of the central bank to cope with the debt crises is institutionally more limited than in most other Western countries. The European Stability Mechanism has not enough financial power to bail out all distressed countries in the Eurozone. Eurobonds could increase lending capacities but would require a change of the European treaty, which is not in sight. They violate the no bail out clause of Art.125 of the Treaty on the Functioning of the European Union. The policy option is therefore debt restructuring of distressed countries and a bailout of financial institutions to avoid conflagration. This option would also shift some of the burden to creditors outside the Eurozone rather than to shift all risk on the people in solvent countries within the Eurozone.

Consensus document on European brain research

DEFF Research Database (Denmark)

Di Luca, Monica; Baker, Mary; Corradetti, Renato

2011-01-01

Psychiatric and neurological diseases combined represent a considerable social and economic burden in Europe. A recent study conducted by the European Brain Council (EBC) quantified the 'cost and burden' of major brain diseases in Europe, amounting to €386bn per year. Considering that these costs...... version. Multinational and multidisciplinary teams have once again come together to express their views, not only on the current strengths in European research, but also on what needs to be done in priority, hoping that this update will inspire policy makers and stakeholders in directing funding...

Executive Summary: European Heart Rhythm Association Consensus Document on the Management of Supraventricular Arrhythmias: Endorsed by Heart Rhythm Society (HRS), Asia-Pacific Heart Rhythm Society (APHRS), and Sociedad Latinoamericana de Estimulación Cardiaca y Electrofisiologia (SOLAECE).

Science.gov (United States)

Katritsis, Demosthenes G; Boriani, Giuseppe; Cosio, Francisco G; Jais, Pierre; Hindricks, Gerhard; Josephson, Mark E; Keegan, Roberto; Knight, Bradley P; Kuck, Karl-Heinz; Lane, Deirdre A; Lip, Gregory Yh; Malmborg, Helena; Oral, Hakan; Pappone, Carlo; Themistoclakis, Sakis; Wood, Kathryn A; Young-Hoon, Kim; Lundqvist, Carina Blomström

2016-01-01

This paper is an executive summary of the full European Heart Rhythm Association (EHRA) consensus document on the management of supraventricular arrhythmias, published in Europace . It summarises developments in the field and provides recommendations for patient management, with particular emphasis on new advances since the previous European Society of Cardiology guidelines. The EHRA consensus document is available to read in full at http://europace.oxfordjournals.org.

BANKING BUSINESS MODELS IN UKRAINIAN BANKING SYSTEM

Directory of Open Access Journals (Sweden)

Yuliya Onyshchenko

2015-11-01

main differences which are between European and Ukrainian bank business models are marked out. Recommendations concerning improving of bank business models in Ukraine are given.

Consensus statement on genetic research in dementia

DEFF Research Database (Denmark)

Rikkert, M.G. Olde; der, V van; Burns, A.

2008-01-01

In this article, the authors describe how the European Dementia Consensus Network developed a consensus on research ethics in dementia, taking into account the questions posed by the era of genetic research and its new research methods. The consensus process started with a Delphi procedure...... to analyze relevant stakeholders' positions by describing their statements on the possibilities and limitations of research into genetic determinants of Alzheimer disease and to describe and analyze the moral desirability of genetic research on Alzheimer disease. The conclusions drawn from the Delphi...... procedure fuelled the development of the consensus statement, which is presented in this paper. The consensus statement aims to stimulate ethically acceptable research in the field of dementia and the protection of vulnerable elderly patients with dementia from application of inadequate research methods...

Foreign bank entry, bank efficiency and market power in Central and Eastern European Countries

Czech Academy of Sciences Publication Activity Database

Poghosyan, T.; Poghosyan, Arsen

2010-01-01

Roč. 18, č. 3 (2010), s. 571-598 ISSN 0967-0750 Institutional research plan: CEZ:MSM0021620846 Keywords : foreign bank entry * bank efficiency * market power Subject RIV: AH - Economics Impact factor: 0.536, year: 2010

The Banking Union: An Overview and Open Issues

NARCIS (Netherlands)

D. Schoenmaker (Dirk)

2016-01-01

markdownabstractThe move to European Banking Union involving the supervision and resolution of banks at euro-area level was stimulated by the sovereign debt crisis in the euro area in 2012. However, the long-term objective of Banking Union is dealing with intensified cross-border banking. The

Accountability of Central Banks : Aspects and Quantification

NARCIS (Netherlands)

de Haan, J.; Amtenbrink, F.; Eijffinger, S.C.W.

1998-01-01

This paper starts with a discussion of the various aspects of accountability of central banks. On the basis of this discussion we construct an indicator for accountability for 16 central banks, including the European Central Bank. It is shown that the degree of accountability differs considerably

The Challenges of Basel III for Romanian Banking System

OpenAIRE

Anca Elena NUCU

2011-01-01

Basel III represents a fundamental review of the regulatory and supervision framework of the banking industry in the future, the aim being to strengthen the stability of the financial system. The purpose of this paper is to analyze the impact of Basel III introduction upon the banking system at European level, respectively, upon the Romanian banking system. If at European level it is estimated a substantial deficit in capital and liquidity, with major impact on profitability indicators, the i...

Cross-Border Banking in Europe : What's Next?

NARCIS (Netherlands)

Allen, F.; Beck, T.H.L.; Carletti, E.; Lane, P.; Schoenmaker, D.; Wagner, W.B.

2011-01-01

Understanding the role of banks in cross-border finance has become an urgent priority. Cross-border banks have played a central role in the dynamics of the global crisis of 2007-2009. First, European banks had a surprisingly large exposure to the US securitised asset markets, which arose to a

The capital structure of banks and practice of bank restructuring

OpenAIRE

Dübel, Achim

2013-01-01

This study presents an empirical analysis of capital and liability management in eight cases of bank restructurings and resolutions from eight different European countries. It can be read as a companion piece to an earlier study by the author covering the specific bank restructuring programs of Greece, Spain and Cyprus during 2012/13. The study portrays for each case the timelines between the initial credit event and the (last) restructuring. It proceeds to discuss the capital and liability m...

Consensus over peri-implantaire infecties

NARCIS (Netherlands)

van Winkelhoff, A J

2010-01-01

In 2008, in a workshop of the European Federation on Periodontology, a consensus was reached concerning oral peri-implant infections on the basis of the state of the art in the relevant sciences. Important conclusions were that peri-implant mucositis occurs in 80% of subjects with oral implants, and

The role of central bank transparency for guiding private sector forecasts

OpenAIRE

Ehrmann, Michael; Eijffinger, Sylvester C W; Fratzscher, Marcel

2009-01-01

There is a broad consensus in the literature that costs of information processing and acquisition may generate costly disagreements in expectations among economic agents, and that central banks may play a central role in reducing such dispersion in expectations. This paper analyses empirically whether enhanced central bank transparency lowers dispersion among professional forecasters of key economic variables, using a large set of proxies for central bank transparency in 12 advanced economies...

The Mayekawa Lecture: Central Banks-Paradise Lost

OpenAIRE

Otmar Issing

2012-01-01

The focus of the paper is to analyze how the concept behind central bank policy developed over time and how the recent financial crisis and its consequences will have an influence. While the principles of the institutional arrangement for central banks (independence, clear mandate, prohibition of monetary financing) are relevant as ever, pre- crisis consensus strategies of monetary policy have been revealed as flawed. The close monitoring of money and credit developments, a key lesson to be d...

STUDY ON THE EVOLUTION AND USE OF INTERNET BANKING SERVICES IN ROMANIA

OpenAIRE

KISS MARTA

2017-01-01

Nowadays, Internet banking is a service provided by all Romanian banks which has become a daily need for millions of users. This study contains a brief overview of the Internet banking services usage level in the European Union for the period 2007-2016. An increasing in the use of Internet banking services in the EU can be observed at the level of the analysed period. At the same time we compared the users (individuals aged 16 to 74) of Internet banking services to other European ...

[The 2009 performance report of the German cornea banks].

Science.gov (United States)

Schrage, N; Reinhard, T; Seitz, B; Hermel, M; Böhringer, D; Reinshagen, H

2011-03-01

In Germany, human tissue for corneal and amniotic transplantation is supplied by 27 cornea banks. The Section for Tissue Transplantation and Biotechnology of the German Ophthalmological Society records the cornea banks' activities by means of an annual questionnaire. In 2009, a total of 4,818 corneal grafts were processed by 21 responding cornea banks, and 57% were deemed suitable for transplantation. This ratio is slightly higher than the European average. In addition, German cornea banks released 1,257 amniotic grafts in 2009. German cornea banks are currently facing new regulatory issues due to updated legislation regarding tissue transplantation. Recent updates in European law have limited the cutoff time for postmortem blood sampling to 24 h, and this regulation may lead to a significant reduction in potential donors.

Resolving Europe’s banking crisis through market discipline : A note

NARCIS (Netherlands)

Benink, H.A.

2013-01-01

Purpose – The purpose is to analyse how the policy approach to the immediate problems in the European financial sector has long-term effects on implicit protection of banks' creditors and, thereby, on risk-taking incentives. Design/methodology/approach – The near term issues in European banking are

THE IMPORTANCE OF THE BANKING FINANCIAL EDUCATION COMPONENT IN ECONOMIC PERSPECTIVE

Directory of Open Access Journals (Sweden)

Lucian-Ion MEDAR

2016-10-01

Full Text Available Economy and civil society has gone through an unprecedented financial crisis determined by an acute shortage of financial education among the large community of individuals and legal persons. Thus, the low level of economic and financial knowledge from society contributed to the amplification of economic crisis. In 2008, in the midst of financial crisis in the European Union was created Expert Group on Financial Education (EGFE, aimed at supporting a new financial education order. Breaking the vicious circle of banks debt and sovereign one, improvement of supervision European banking system, solving the financial problems of some banks through the mechanism of bank resolution, without recourse to public resources, strengthening the trust of potential customers in the financial market, in the first process of finalizing the Union European banking, can be achieved and by a new order of financial education

European canine lymphoma network consensus recommendations for reporting flow cytometry in canine hematopoietic neoplasms.

Science.gov (United States)

Comazzi, S; Avery, P R; Garden, O A; Riondato, F; Rütgen, B; Vernau, W

2017-09-01

Flow cytometry (FC) is assuming increasing importance in diagnosis in veterinary oncology. The European Canine Lymphoma Network (ECLN) is an international cooperation of different institutions working on canine lymphoma diagnosis and therapy. The ECLN panel of experts on FC has defined the issue of reporting FC on canine lymphoma and leukemia as their first hot topic, since a standardized report that includes all the important information is still lacking in veterinary medicine. The flow cytometry panel of the ECLN started a consensus initiative using the Delphi approach. Clinicians were considered the main target of FC reports. A panel of experts in FC was interrogated about the important information needed from a report. Using the feedback from clinicians and subsequent discussion, a list of information to be included in the report was made, with four different levels of recommendation. The final report should include both a quantitative part and a qualitative or descriptive part with interpretation of the salient results. Other items discussed included the necessity of reporting data regarding the quality of samples, use of absolute numbers of positive cells, cutoff values, the intensity of fluorescence, and possible aberrant patterns of antigen expression useful from a clinical point of view. The consensus initiative is a first step toward standardization of diagnostic approach to canine hematopoietic neoplasms among different institutions and countries. This harmonization will improve communication and patient care and also facilitate the multicenter studies necessary to further our knowledge of canine hematopoietic neoplasms. © 2016 International Clinical Cytometry Society. © 2016 International Clinical Cytometry Society.

Domestic Systemically Important Banks: A Quantitative Analysis for the Chinese Banking System

Directory of Open Access Journals (Sweden)

Yibing Chen

2014-01-01

Full Text Available This paper serves as a response to the official assessment approach proposed by Basel Committee to identify domestic systemically important banks (D-SIBs in China. Our analysis presents not only current levels of domestic systemic importance of individual banks but also the changes. We also consider the systemic risk of the whole banking system, by investigating how D-SIBs and non-D-SIBs are correlated before and after the recent financial crises using Copula. We find that the systemic importance of major banks is decreasing, while some banks becoming more systemically important should require tight regulations. D-SIBs as a whole subsystem display stronger correlation with non-D-SIBs than the individual D-SIBs, which alerts the regulatory to pay attention to “too-many-to-fail” problems. Contagion effects between D-SIBs and non-D-SIBs exist during the subprime crisis, but did not exist during the European debt crisis. This yields good signal of a more balanced banking system in China.

Interconnectedness between shadow and traditional banking systems in Europe

Directory of Open Access Journals (Sweden)

Popović Svetlana

2017-01-01

Full Text Available The financial crisis that emerged in the US quickly spread across Europe, causing a severe banking and sovereign debt crisis. That revealed the importance of short-term financing for traditional banks, which increased their exposure to the financial conditions on the interbank market. Financial innovations, especially the securitization process led to the growing importance of different institutions within the shadow banking system - which undergo a credit, liquidity and maturity transformation, without accessing the central bank liquidity or other forms of guarantees. The European banks had an active role in the US securitization process, but also securitized the products from the European market. The authors used the available data from the ECB statistics on shadow bank entities, broadly and narrowly defined, in order to analyze the various measures of interconnectedness between the shadow and traditional banking systems. The analysis showed that non-regulated financial institutions pose severe systemic risks, not just because of their size, but also due to the strong web of interconnectedness with the regulated banking sector.

A REVIEW OF SERVICE QUALITY AND CUSTOMER SATISFACTION IN BANKING SERVICES: GLOBAL SCENARIO

OpenAIRE

Rajagopal Subashini; Velmurugan Gopalasamy

2016-01-01

The dynamics of service quality and satisfaction of customer on banks situated in various countries indicates that earlier studies offered no consensus over the subject, to confirm the issues and trends of these factors which regulate service quality and customer satisfaction. Now-a-days all public, private and foreign banks play a vital role in retail banking and provide lot of core banking services to all their rural and urban customers to maintain customer loyalty, retention and providing ...

From Subsidiary to Branch Organization of International Banks

DEFF Research Database (Denmark)

Goldberg, Lawrence; Sweeney, Richard J.; Wihlborg, Clas

2005-01-01

Nordea is the first major international bank planning to operate important host country activities in branches as the Second European banking directive envisions rather than as subsidiaries. Nordea is the result of mergers of roughly equal-size universal banks in four Nordic countries...... institutional foundations for substantial market discipline in banking. In particular, distress resolution and insolvency procedures for banks must be made rule based and credible for host country authorities to accept home country control....

Union banking a step towards achieving fiscal Union in the European Union

Directory of Open Access Journals (Sweden)

Ionuţ Marius Croitoru

2015-05-01

Full Text Available Introduction: Union policy needs in addition to the official language of four major components: a monetary union, a fiscal union, a union diplomatic and military union A stage in the Union is the Union banking tax. Materials and Methods: Union Bank has three pillars: a single banking supervisor (single supervisory mechanism, the only mechanism of bank resolution and a single scheme of bank guarantees. Results and conclusions: Union Bank, strengthen supervision is an inevitable process, and Romania will have to enroll in it. Option Romania is to be part of Romania deaorece bank Union can not remain outside the structures of decision as long as banks operating in Romania are predominantly Eurozone.

Best Practice of Selecting Strategic International Agency Banking

Directory of Open Access Journals (Sweden)

Chan Leslie Soon-Lim

2014-12-01

Full Text Available International agency or correspondent banking (corbanking is cross border bank to bank businesses that agent banks act on behalf of principals. Despite drastic changing banking environment, corbanking remains from doing business by mainly fee based, packaging reciprocal products and services, and so on. Corbanking is therefore identified as an alternative to serve clients worldwide in a strategic low cost way. Best practice to identify for entering corbanking relationships and selecting their correspondents are the themes of this paper, which are useful for financial institutions to make strategic and operational decisions for their expansion. Eighteen determinant factors to establish corbanking relationships and nineteen selection criteria of correspondents were identified through literature reviews, case studies, and exploratory surveys. Empirical surveys were conducted on 43 sample banks in Australia, which were further categorized in ten bank groups. Analytical methods included descriptive statistics and stepwise least square regression with case studies. The findings were: the most significant factor for financial institutions to enter correspondent banking systems was the bank size and a lower ranking factor was location not physically present, whereas there was different consensus for different bank groups about the selection criteria for agents overseas.

Merger and Acquisition in the Banking Sector

Directory of Open Access Journals (Sweden)

Anna Szewczyk

2008-12-01

Full Text Available The article presents situation on mergers and acquisitions (MA in banking sector during last twenty years. The main motives are selected and analyzed. All is explained on the base on research reports of the Deutsche Bundesbank and the European Central Bank.

The Challenges of Basel III for Romanian Banking System

Directory of Open Access Journals (Sweden)

Anca Elena NUCU

2011-12-01

Full Text Available Basel III represents a fundamental review of the regulatory and supervision framework of the banking industry in the future, the aim being to strengthen the stability of the financial system. The purpose of this paper is to analyze the impact of Basel III introduction upon the banking system at European level, respectively, upon the Romanian banking system. If at European level it is estimated a substantial deficit in capital and liquidity, with major impact on profitability indicators, the impact of Basel III upon banking system in Romania is considered to be limited. The measures which credit institutions could take to mitigate the impact of alignment with the new standards are business model adjustment and balance sheet restructuring.

The capital structure of banks and practice of bank restructuring : eight case studies on current bank restructurings in Europe ; final report

OpenAIRE

Dübel, Hans-Joachim

2013-01-01

This study presents an empirical analysis of capital and liability management in eight cases of bank restructurings and resolutions from eight different European countries. It can be read as a companion piece to an earlier study by the author covering the specific bank restructuring programs of Greece, Spain and Cyprus during 2012/13. The study portrays for each case the timelines between the initial credit event and the (last) restructuring. It proceeds to discuss the capital and liabilit...

Does business regulation matter for banks in the European Union?

OpenAIRE

Kalyvas, Nikolaos Antonios; Mamatzakis, Emmanuel

2014-01-01

This paper provides a comprehensive analysis of the impact of business and financial specific regulations on banks in the EU-27 over the 2004–2010 period. We employ a dataset of a wide range of business regulation indices from the “Doing Business” project of the World Bank. Results for the credit regulation indices show that the strength of creditor rights is negatively related to bank performance as measured by cost efficiency, although this effect subdues during the recent crisis period (20...

Green financing - Are European banks and insurers contributing?

International Nuclear Information System (INIS)

Kamelgarn, Yona; Blanc, Dominique

2015-02-01

The analysis of the public communication of the 32 largest banking and insurance groups led to the following observations. Awareness of the role of the financial sector in the transition to a low-carbon economy has grown since 2012, and companies are increasingly conducting environmental risk analysis. But these practices are more akin to risk management policies - initiated to limit exposure to the most controversial projects - than to real reallocation strategies contributing to the transition to a low-carbon economy. Information on green financing is developing but focuses more on image than on business activities. The companies in the sample are communicating more on their green financing, and in particular on their contribution to renewable energy projects. But the indicators are very heterogeneous, are not monitored over time and cannot be compared between companies. Generally speaking, banks and insurers have not committed to increase their allocations to green financing and fail to discuss the financing of fossil fuels. Information on environmental and social risk management policies is becoming more structured. Process consists in introducing sector-based policies, setting forth minimum standards below which companies do not invest, notably in the energy sector, as well as developing environmental and social (ES) risk analysis tools for transactions. Analyses theoretically encompass the environmental impact of financed activities, but little information exists on the type of criteria used. These practices, developed initially for project finance, have since been extended to other banking activities and, more recently, to insurance activities. Reporting on the environmental impact of financed products remains rudimentary. Over three-quarters of the companies in the sample acknowledge the environmental responsibility stemming from their business activities, but measures continue to focus on the impact of premises and business travel. While almost all the

Beyond the Mediterranean peninsulas: evidence of central European glacial refugia for a temperate forest mammal species, the bank vole (Clethrionomys glareolus).

Science.gov (United States)

Deffontaine, V; Libois, R; Kotlík, P; Sommer, R; Nieberding, C; Paradis, E; Searle, J B; Michaux, J R

2005-05-01

This study details the phylogeographic pattern of the bank vole, Clethrionomys glareolus, a European rodent species strongly associated with forest habitat. We used sequences of 1011 base pairs of the mitochondrial DNA cytochrome b gene from 207 bank voles collected in 62 localities spread throughout its distribution area. Our results reveal the presence of three Mediterranean (Spanish, Italian and Balkan) and three continental (western, eastern and 'Ural') phylogroups. The endemic Mediterranean phylogroups did not contribute to the post-glacial recolonization of much of the Palaearctic range of species. Instead, the major part of this region was apparently recolonized by bank voles that survived in glacial refugia in central Europe. Moreover, our phylogeographic analyses also reveal differentiated populations of bank voles in the Ural mountains and elsewhere, which carry the mitochondrial DNA of another related vole species, the ruddy vole (Clethrionomys rutilus). In conclusion, this study demonstrates a complex phylogeographic history for a forest species in Europe which is sufficiently adaptable that, facing climate change, survives in relict southern and northern habitats. The high level of genetic diversity characterizing vole populations from parts of central Europe also highlights the importance of such regions as a source of intraspecific genetic biodiversity.

Neoliberalism with a Feminist Face: Crafting a New Hegemony at the World Bank

OpenAIRE

Prügl Elisabeth

2016-01-01

Neoliberalism has been discredited as a result of proliferating crises (financial ecological care) and mounting inequality. This paper examines the growing research on gender at the World Bank as a site for the construction of a new hegemonic consensus around neoliberalism. Drawing on a computer assisted inductive analysis of thirty four Bank publications on gender since 2001 the paper documents Bank efforts to establish a positive relationship between gender equality and growth; shows the ex...

FMA Roundtable on New Developments in European Corporate Governance

DEFF Research Database (Denmark)

Elson, Charles; Berglund, Tom; Rapp, Marc Steffen

2017-01-01

In this discussion that took place in Helsinki last June, three European financial economists and a leading authority on U.S. corporate governance consider the relative strengths and weaknesses of the world's two main corporate financing and governance systems: the Anglo-American market...... to address the question: can we expect one of these two systems to prevail over time, or will both systems continue to coexist, while seeking to adopt some of the most valuable aspects of the other? The consensus was that, in Germany as well as continental Europe, corporate financing and governance practices......-based system, with its dispersed share ownership, lots of takeovers, and an otherwise vigorous market for corporate control; and the relationship-based, or “main bank,” system associated with Japan, Germany, and continental Europe generally. The distinguishing features of the relationship-based system...

New Developing Methodologies for Strategic and Operational Limits in the European and Romanian Banking System

Directory of Open Access Journals (Sweden)

Stratulat Angelica

2016-07-01

Full Text Available The most important recommendations of the de Larosiere report and subsequently implemented in the Union were to create a single regulatory framework and a European framework for macro-prudential supervision, both elements conjugated are designed to ensure financial stability. The single regulatory framework ensures a uniform and robust regulatory framework that facilitates the functioning of the single market and prevents regulatory arbitrage opportunities. However, in the internal market for financial services, macro-prudential risks can exhibit several types of differences, with a number of national peculiarities that lead to variations that can be seen, for example, in terms of structure and size of the banking sector compared to economy and credit cycle in a wider sense.

Banking Audit - Towards a Higher Degree of Harmonization

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Adela Socol

2016-11-01

Full Text Available In the last decade, the role and nature of the statutory audit of credit institutions have became controversial, on the base of reconsidering the importance of audit of credit institutions in prevention, detection and managing of the financial crisis. The aim of the study is critical analysis of key aspects regarding the contemporary banking audit, with an emphasis on aspects that affect the quality of banking audit (normative, procedural and organisational aspects of banking audit, the “auditable” character of some banking elements etc. and on the tipology of audit reports of credit institutions (Audit Report to the General Meeting of Shareholders, Additional Report to the Audit Committee of the credit institution, Reports to banking supervisors and Transparency report of auditor. The paper analyses for 27 European states the way in which banking auditors report on the conformity of the credit institution with organisational regulatory rules, regulatory requirements, financial reports to supervisors or special reports to supervisors. The conclusions bring to the foreground major normative changes in the area of the European credit institutions, through reforming strategies of banking audit, through a gradual and an inscreasingly restrictive progress of audit activities and of independence requirements, rotation of auditors, reporting and transparency of credit institutions.

Have European Banks Actually Changed Since the Start of the Crisis?

NARCIS (Netherlands)

Bertay, A.C.; Huizinga, Harry

This paper documents trends in key bank variables over the 2003-2013 period for the set of banks that the ECB directly supervises as of January 30, 2015. This time period enables us to see how the crisis has affected the banks, and also how they have changed since the crisis. A range of variables is

Control of Bank Consolidated Financial Statements Quality

OpenAIRE

Margarita S. Ambarchyan

2013-01-01

The author presents the multiple linear regression model of bank consolidated financial statements quality. The article considers six characteristics that can be used to estimate the level of bank consolidated financial statements quality. The multiple linear regression model was developed, using the results of point-based system of consolidated financial statements of thirty European bank and financial groups on the basis of the developed characteristics. The author offers to use the charact...

Causes of the outbreak of the eurozone crises: the role of the USA and the European Central Bank monetary polic

Directory of Open Access Journals (Sweden)

Nalia Białek

2015-10-01

Full Text Available This paper argues that the loose monetary policy of two of the world’s most important financial institutions—the U.S. Federal Reserve Board and the European Central Bank—were ultimately responsible for the outburst of global financial crisis of 2008-09. Unusually low interest rates in 2001- 05 compelled investors to engage in high risk endeavors. It also encouraged some governments to finance excessive domestic consumption with foreign loans. Emerging financial bubbles burst first in mortgage markets in the U.S. and subsequently spread to other countries. The paper also reviews other causes of the crisis as discussed in literature. Some of them relate directly to weaknesses inherent in the institutional design of the European Monetary Union (EMU while others are unique to members of the EMU. It is rather striking that recommended remedies tend not to take into account the policies of the European Central Bank.

Reliability data banks

International Nuclear Information System (INIS)

Cannon, A.G.; Bendell, A.

1991-01-01

Following an introductory chapter on Reliability, what is it, why it is needed, how it is achieved and measured, the principles of reliability data bases and analysis methodologies are the subject of the next two chapters. Achievements due to the development of data banks are mentioned for different industries in the next chapter, FACTS, a comprehensive information system for industrial safety and reliability data collection in process plants are covered next. CREDO, the Central Reliability Data Organization is described in the next chapter and is indexed separately, as is the chapter on DANTE, the fabrication reliability Data analysis system. Reliability data banks at Electricite de France and IAEA's experience in compiling a generic component reliability data base are also separately indexed. The European reliability data system, ERDS, and the development of a large data bank come next. The last three chapters look at 'Reliability data banks, - friend foe or a waste of time'? and future developments. (UK)

European Banking Recovery and Resolution Directive: Potential Impacts on European Systemic Important Financial Institutions

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Clements Akinsoyinu

2015-09-01

Full Text Available The great recession heralded in by the subprime mortgage crisis, took a dramatic turn for worse as a result of collapse of the Lehman Brothers bank in September 2008. The crisis deemed to be the most devastating after the Great Depression of 1929, had a debilitating effect on world economies, developing and advanced alike.  The extent of its devastation which  is still being felt in Europe and many parts of the globe reminds us the interconnectedness of financial institutions, particularly those tagged TBTF or SIFIs. Policy makers scrambled to curtail the ugly effect of the crisis by rescuing the SIFIs within their jurisdiction largely through bailout mechanism and provision of implicit guarantee for the debts of failing/failed institutions. As soon as the tide is stemmed, they cast their gaze on new crisis resolution and recovery measures that could rein in systemic risks associated with SIFIs, prevent future crises and reduce the concomitant moral hazards in the current resolution measures. This paper assesses ex ante the potential impact of implementing the new Banking recovery and resolution directives on Europe’s TBTF banksThe great recession heralded in by the subprime mortgage crisis, took a dramatic turn for worse as a result of collapse of the Lehman Brothers bank in September 2008. The crisis deemed to be the most devastating after the Great Depression of 1929, had a debilitating effect on world economies, developing and advanced alike.  The extent of its devastation which  is still being felt in Europe and many parts of the globe reminds us the interconnectedness of financial institutions, particularly those tagged TBTF or SIFIs. Policy makers scrambled to curtail the ugly effect of the crisis by rescuing the SIFIs within their jurisdiction largely through bailout mechanism and provision of implicit guarantee for the debts of failing/failed institutions. As soon as the tide is stemmed, they cast their gaze on new crisis

Eine neue Rolle für die Europäische Zentralbank? Anmerkungen zu einem spezifisch Deutschen Konflikt. A new role for the European Central Bank? Remarks on a special German conflict

Directory of Open Access Journals (Sweden)

Detlev Ehrig

2016-08-01

Full Text Available The recent European debt crisis has generated a growing importance of the ECB. The central bank was forced to take measures far beyond its traditional role to stabilize monetary markets and inflation. The European central bank has adopted a new function as lender of last resort, providing banks and governments with almost unlimited liquidity. The new and unconventional monetary policy has been hotly debated. In Germany the debate even reached the Constitutional Court. The article will give a survey of the debate referring to the arguments of the ECB versus Deutsche Bundesbank. It is indeed questionable whether the ECB has a mandate for its new role in monetary and by the way also fiscal policy. Whatever the arguments are convincing, new steps towards fiscal arrangements and a deeper political cooperation are needed to stabilize the euro area.

Consensus statement on the definition of neurogenic supine hypertension in cardiovascular autonomic failure by the American Autonomic Society (AAS) and the European Federation of Autonomic Societies (EFAS) : Endorsed by the European Academy of Neurology (EAN) and the European Society of Hypertension (ESH).

Science.gov (United States)

Fanciulli, Alessandra; Jordan, Jens; Biaggioni, Italo; Calandra-Buonaura, Giovanna; Cheshire, William P; Cortelli, Pietro; Eschlboeck, Sabine; Grassi, Guido; Hilz, Max J; Kaufmann, Horacio; Lahrmann, Heinz; Mancia, Giuseppe; Mayer, Gert; Norcliffe-Kaufmann, Lucy; Pavy-Le Traon, Anne; Raj, Satish R; Robertson, David; Rocha, Isabel; Struhal, Walter; Thijs, Roland; Tsioufis, Konstantinos P; van Dijk, J Gert; Wenning, Gregor K

2018-05-15

Patients suffering from cardiovascular autonomic failure often develop neurogenic supine hypertension (nSH), i.e., high blood pressure (BP) in the supine position, which falls in the upright position owing to impaired autonomic regulation. A committee was formed to reach consensus among experts on the definition and diagnosis of nSH in the context of cardiovascular autonomic failure. As a first and preparatory step, a systematic search of PubMed-indexed literature on nSH up to January 2017 was performed. Available evidence derived from this search was discussed in a consensus expert round table meeting in Innsbruck on February 16, 2017. Statements originating from this meeting were further discussed by representatives of the American Autonomic Society and the European Federation of Autonomic Societies and are summarized in the document presented here. The final version received the endorsement of the European Academy of Neurology and the European Society of Hypertension. In patients with neurogenic orthostatic hypotension, nSH is defined as systolic BP ≥ 140 mmHg and/or diastolic BP ≥ 90 mmHg, measured after at least 5 min of rest in the supine position. Three severity degrees are recommended: mild, moderate and severe. nSH may also be present during nocturnal sleep, with reduced-dipping, non-dipping or rising nocturnal BP profiles with respect to mean daytime BP values. Home BP monitoring and 24-h-ambulatory BP monitoring provide relevant information for a customized clinical management. The establishment of expert-based criteria to define nSH should standardize diagnosis and allow a better understanding of its epidemiology, prognosis and, ultimately, treatment.

The politics of entrapment : the World Bank, the integrated development model & citizenship at a crossroad

NARCIS (Netherlands)

P. Hatcher (Pascale)

2009-01-01

textabstractThe thesis is about the World Bank and the political dimensions of the new aid architecture. The new aid agenda, which emerged out of the post-Washington Consensus (PWC), has led to debates over its real significance. While Joseph Stiglitz has argued that the new consensus actually

The European Hematology Association Roadmap for European Hematology Research

DEFF Research Database (Denmark)

Engert, Andreas; Balduini, Carlo; Brand, Anneke

2016-01-01

The European Hematology Association (EHA) Roadmap for European Hematology Research highlights major achievements in diagnosis and treatment of blood disorders and identifies the greatest unmet clinical and scientific needs in those areas to enable better funded, more focused European hematology...... research. Initiated by the EHA, around 300 experts contributed to the consensus document, which will help European policy makers, research funders, research organizations, researchers, and patient groups make better informed decisions on hematology research. It also aims to raise public awareness...... of the burden of blood disorders on European society, which purely in economic terms is estimated at €23 billion per year, a level of cost that is not matched in current European hematology research funding. In recent decades, hematology research has improved our fundamental understanding of the biology...

Multinational banks and credit growth in transition economics

NARCIS (Netherlands)

Haas, Ralph Theodoor Anna de

2006-01-01

This thesis examines the impact of multinational banks (MNBs) on the financial development of European transition countries. On the basis of our results, we conclude that the gradual deepening of the banking systems in Central and Eastern Europe and the Baltic countries (CEB) has enabled firms to

Fishing activities on the Dogger Bank 2006-2011

NARCIS (Netherlands)

Bartelings, H.; Hamon, K.G.; Oostenbrugge, van J.A.E.

2013-01-01

In 2008, the Minister of Agriculture, Nature and Food Quality notified four proposed Sites of Community In-terest (pSCIs) to the European Commission (for protection as Special Conservation Areas (SCAs) under the Habitats Directive). These areas are the Dogger Bank, Cleaver Bank, the Coastal Zone and

STUDY ON THE EVOLUTION AND USE OF INTERNET BANKING SERVICES IN ROMANIA

Directory of Open Access Journals (Sweden)

KISS MARTA

2017-12-01

Full Text Available Nowadays, Internet banking is a service provided by all Romanian banks which has become a daily need for millions of users. This study contains a brief overview of the Internet banking services usage level in the European Union for the period 2007-2016. An increasing in the use of Internet banking services in the EU can be observed at the level of the analysed period. At the same time we compared the users (individuals aged 16 to 74 of Internet banking services to other European countries and we found that the users of the Internet banking services in Romania are still far below the European average but the trend is an upward one. In this study we have focused our attention only on Internet banking, as it is the most commonly used payment instrument in the Romanian practice of remote access payment instruments. The indicators considered in this study were the Internet banking users and the Internet users. We have used the model of the simple linear regression to highlight the existence of a relationship between the variables. In this respect we used statistical data taken from Eurostat and Romanian Ministry of Communications and Information Society as well as data provided by the Romanian National Institute of Statistics for the period 2009-2014. The results of the model have pointed out the fact that the rise of the number of Internet users leads to an increase of the number of Internet banking users.

The Quality of Private Monitoring in European Banking: Completing the Picture

OpenAIRE

Pop , Adrian; Pop , Diana

2012-01-01

The philosophy behind the debt market discipline approach to banking regulation presumes that the pricing of bank debt securities, if accurate, conveys reliable signals to supervisors. In this paper, we take a critical look at the feasibility of such an approach by exploring empirically the possibility that markets may price differently the risk profile of bank issuers along the empirical distribution of credit spread. The paper proposes a quantile regression framework to draw novel inference...

The European Union Counteraction To Israel's Settlement Policy In The Occupied Arab Territories: Myths And Realities

Directory of Open Access Journals (Sweden)

Alexander V. Krylov

2014-01-01

Full Text Available More than 50 years the European Union member states (the European Economic Community up to 1993 maintain a special relations with Israel particularly in the trade sphere. Only in 2014 the export of Israeli products to Europe increased by 3%, amounting in absolute terms to a third of total exports of Israel. At the same time, the position of the EU with regard to the Palestinian-Israeli conflict is clearly contrary to the real character of the mutual economic, scientific and technical cooperation. After the failure in 2001 of the Palestinian-Israeli negotiations aimed to reach a «Final-Status Agreement» in accordance with the Oslo Accords, the European Union made several attempts to limit the European market penetration of the Israeli products originating from the occupied territories (the West Bank, Gaza Strip, East Jerusalem and the Golan Heights. However, as can be seen from the contents of the article, there is no consensus between the EU member states with regard to the Israeli settlement policy. The study argues that all the decisions made so far in the European Union to limit Israeli export or reduce crediting of programs for scientific and technical cooperation used to be of declarative or vague character.

Commentary on the "Evidence- and Consensus-Based (S3) Guidelines for the Treatment of Actinic Keratosis" Published by the International League of Dermatological Societies in Cooperation with the European Dermatology Forum.

Science.gov (United States)

Diepgen, Thomas L; Kresken, Joachim; Krutmann, Jean; Merk, Hans F; Senger, Erik; Surber, Christian; Szeimies, Rolf-Markus

2018-04-03

In 2015, the International League of Dermatological Societies and the European Dermatology Forum published a guideline for the treatment of actinic keratosis, which is classified as an evidence- and consensus-based S3 guideline. From the point of view of the GD Task Force "Licht.Hautkrebs.Prävention," an interdisciplinary expert panel of the Society for Dermopharmacy for the prevention and treatment of skin cancer, this guideline reveals strengths and weaknesses but, in summary, does not meet the claim for an evidence- and consensus-based S3 guideline. © 2018 S. Karger AG, Basel.

Product diversification and bank performance: does ownership structure matter?

OpenAIRE

Saghi-Zedek , Nadia

2016-01-01

International audience; Using detailed data on control chains of 710 European commercial banks, we test whether the presence of some categories of controlling shareholders affects product diversification performance. We find that when banks have no controlling shareholder or have only family and state shareholders activity diversification yields diseconomies. However, as long as the control chain involves banking institutions, institutional investors, industrial companies or any other combina...

UNCONVENTIONAL MONETARY POLICY: CHANGING EUROPEAN CENTRAL BANK’S PERSPECTIVE ON FINANCIAL GOVERNANCE

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Bogdan Munteanu

2017-06-01

Full Text Available The paper aims to look at the European Central Bank governance in terms of decisions taken to deploy a new kit of unconventional monetary policy measures, in order to respond to a new economic paradigm characterized by dynamic change in evolution, high volatility and enhanced financial risks. As an institution, the European Central Bank is led by the Governing Council and the decisions taken on how to use monetary policy impact an entire financial system. European Central Banking governance is about safeguarding the common currency and ensuring a future for the economic and monetary area to emerge stronger. For this purpose, when conventional monetary policies reach limits in their effects, it is time for the European Central Bank governance to analyse and assume the decision to deploy the arsenal of unconventional monetary policies. The experience of recent years showed a positive effect of the European Central Bank’s unconventional monetary measures, but costs could rise in case of extensive use of such measures. When these measures are used in combination, the effect is amplified and the European Central Bank needs to assess when it is time to withdraw the support, how to communicate and what exit strategy should use, what the costs are and impact can expect.

Consensus on the guidelines for the dietary management of classical galactosemia.

Science.gov (United States)

Kerckhove, Kristel Vande; Diels, Marianne; Vanhaesebrouck, Sigrid; Luyten, Karin; Pyck, Nancy; De Meyer, An; Van Driessche, Marleen; Robert, Martine; Corthouts, Karen; Caris, Ariane; Duchateau, Emilie; Dassy, Martine; Bihet, Genevieve

2015-02-01

Worldwide there is scientific discussion about the dietary management of galactosemia. The dietary management is very different in several countries among Europe, the US and Canada. The main points of discussion are related to the fact that i) despite a strict diet some patients still have poor outcomes; ii) there is lack of scientific knowledge about the role of endogenous production of galactose on disease evolution, with or without diet. The aim of the current work was the creation of a Belgian consensus on dietary guidelines for the management of galactosemia. A step-wise approach was used to achieve a consensus, including: a workshop, a Delphi round, discussion groups and a round table of different Belgian experts. The consensus is an agreement between strict guidelines (strict limitation of fruits, vegetables and soybean products/French guidelines) and the more liberal guidelines (comparable with a diet free of lactose/guidelines of UK and the Netherlands). The consensus document consists of different modules, including the medical context, the theoretical background of dietary guidelines and the age-specific practical dietary guidelines. A Belgian consensus on the guidelines for the dietary management of classical galactosemia was developed despite the uncertainties of the efficacy and practical application of these guidelines. The final consensus is based on scientific knowledge and practical agreement among experts. In the future, regular revision of the guidelines is recommended and a uniform European guideline is desirable. Copyright © 2014 European Society for Clinical Nutrition and Metabolism. Published by Elsevier Ltd. All rights reserved.

Enzyme Replacement Therapy and/or Hematopoietic Stem Cell Transplantation at diagnosis in patients with Mucopolysaccharidosis type I: results of a European consensus procedure

LENUS (Irish Health Repository)

de Ru, Minke H

2011-08-10

Abstract Background Mucopolysaccharidosis type I (MPS I) is a lysosomal storage disorder that results in the accumulation of glycosaminoglycans causing progressive multi-organ dysfunction. Its clinical spectrum is very broad and varies from the severe Hurler phenotype (MPS I-H) which is characterized by early and progressive central nervous system (CNS) involvement to the attenuated Scheie phenotype (MPS I-S) with no CNS involvement. Indication, optimal timing, safety and efficacy of the two available treatment options for MPS I, enzyme replacement therapy (ERT) and hematopoietic stem cell transplantation (HSCT), are subject to continuing debate. A European consensus procedure was organized to reach consensus about the use of these two treatment strategies. Methods A panel of specialists, including 8 specialists for metabolic disorders and 7 bone marrow transplant physicians, all with acknowledged expertise in MPS I, participated in a modified Delphi process to develop consensus-based statements on MPS I treatment. Fifteen MPS I case histories were used to initiate the discussion and to anchor decisions around either treatment mode. Before and at the meeting all experts gave their opinion on the cases (YES\\/NO transplantation) and reasons for their decisions were collected. A set of draft statements on MPS I treatment options composed by a planning committee were discussed and revised during the meeting until full consensus. Results Full consensus was reached on several important issues, including the following: 1) The preferred treatment for patients with MPS I-H diagnosed before age 2.5 yrs is HSCT; 2) In individual patients with an intermediate phenotype HSCT may be considered if there is a suitable donor. However, there are no data on efficacy of HSCT in patients with this phenotype; 3) All MPS I patients including those who have not been transplanted or whose graft has failed may benefit significantly from ERT; 4) ERT should be started at diagnosis and may be

Assessing the competitive conditions in the Italian banking system: some empirical evidence

Directory of Open Access Journals (Sweden)

P. COCCORESE

1998-06-01

Full Text Available The European banking industry is currently facing the effects arising from the increasing integration of national financial markets. In adapting to this new scenario, the Italian banking system has undergone a considerable transformation. The degree of competition in the Italian banking system is evaluated using a sample of banks during the period 1988-96.

Control of Bank Consolidated Financial Statements Quality

Directory of Open Access Journals (Sweden)

Margarita S. Ambarchyan

2013-01-01

Full Text Available The author presents the multiple linear regression model of bank consolidated financial statements quality. The article considers six characteristics that can be used to estimate the level of bank consolidated financial statements quality. The multiple linear regression model was developed, using the results of point-based system of consolidated financial statements of thirty European bank and financial groups on the basis of the developed characteristics. The author offers to use the characteristic significance factor in the process of consolidated financial statements appraisal by points. The constructed regression model is checked on accuracy and statistical significance. The model can be used by internal auditors and financial analytics as an instrument for bank and non-bank consolidated financial statements quality control

BASEL III IMPACT ON ROMANIAN BANKING SYSTEM PERFORMANCE

OpenAIRE

Mariana G. NEDELCU (BUNEA)

2014-01-01

In the context of economic and financial crisis triggered in EU by autumn 2008, Romania's banking system like that in the other European countries, faced with the consequences of decreasing the standard of living the worsening of purchasing power (in terms of retail) and with gaps and Delay occurred in the payment of corporate clients. However the deteriorating the quality of bank investments, increasing non-performing loans in bank portfolios totate ultimately causing the accumulation of...

The trade-off between monetary policy and bank stability

NARCIS (Netherlands)

Lamers, Martien; Mergaerts, Frederik; Meuleman, Elien; Vennet, Rudi Vander

2016-01-01

This paper investigates how monetary policy interventions by the European Central Bank and the Federal Reserve affect the stock market perception of bank systemic risk. In a first step, we identify monetary policy shocks using a structural VAR approach by exploiting the changes of the volatility of

Banking Business Models Monitor 2014: Europe

OpenAIRE

Ayadi, Rym; De Groen, Willem Pieter

2014-01-01

CEPS and the International Observatory on Financial Services Cooperatives (IOFSC) at HEC Montreal have initiated an annual monitoring exercise on banking business models in the EU. Based on their balance sheet structures, 147 European banks that account for more than 80% of the industry assets were categorised in four business models. The Monitor emphasises the ownership structures and assesses the financial and economic performance, resilience and robustness, before, during and after the fin...

BrainNet Europe's Code of Conduct for brain banking.

Science.gov (United States)

Klioueva, Natasja M; Rademaker, Marleen C; Dexter, David T; Al-Sarraj, Safa; Seilhean, Danielle; Streichenberger, Nathalie; Schmitz, Peer; Bell, Jeanne E; Ironside, James W; Arzberger, Thomas; Huitinga, Inge

2015-07-01

Research utilizing human tissue and its removal at post-mortem has given rise to many controversies in the media and posed many dilemmas in the fields of law and ethics. The law often lacks clear instructions and unambiguous guidelines. The absence of a harmonized international legislation with regard to post-mortem medical procedures and donation of tissue and organs contributes to the complexity of the issue. Therefore, within the BrainNet Europe (BNE) consortium, a consortium of 19 European brain banks, we drafted an ethical Code of Conduct for brain banking that covers basic legal rules and bioethical principles involved in brain banking. Sources include laws, regulations and guidelines (Declarations, Conventions, Recommendations, Guidelines and Directives) issued by international key organizations, such as the Council of Europe, European Commission, World Medical Association and World Health Organization. The Code of Conduct addresses fundamental topics as the rights of the persons donating their tissue, the obligations of the brain bank with regard to respect and observance of such rights, informed consent, confidentiality, protection of personal data, collections of human biological material and their management, and transparency and accountability within the organization of a brain bank. The Code of Conduct for brain banking is being adopted by the BNE network prior to being enshrined in official legislation for brain banking in Europe and beyond.

ECB Banking Supervision and beyond

OpenAIRE

Lannoo, Karel

2014-01-01

With publication of the results of its Comprehensive Assessment at the end of October 2014, the European Central Bank has set the standard for its new mandate as supervisor. But this was only the beginning. The heavy work started in early November, with the day-to-day supervision of the 120 most significant banks in the eurozone under the Single Supervisory Mechanism. The centralisation of the supervision in the eurozone will pose a number of challenges for the ECB in the coming months and ye...

BANKING INTERMEDIATION AND CONSEQUENCES OF FINANCIAL CRISIS

Directory of Open Access Journals (Sweden)

Medar Lucian-Ion

2012-12-01

Full Text Available The financial intermediation of bank institutions, has an essential role in mobilising of the available funds and their distribution in various products and services, for economic growth. The extent that banking system is in distress or passing through a period of crisis, then, everything turns into a general crisis, especially that, in some states, natural and legal persons have been learned ,,to live’’ on the credits.The effectiveness of banking intermediation activity in Romania depends on how fast the market is enabled under the influence of the new European regulations. The Romanian market in all its forms is the second largest in the EU, and the banking system is almost entirely made up of banks with foreign capital. The romanian banking market has not suffered so much because of the financial crisis. To the extent that banking institutions provide the necessary funds, Romania has important resources for the transition to a new economic cycle based on sustainable development.

The first joint ESGAR/ ESPR consensus statement on the technical performance of cross-sectional small bowel and colonic imaging

International Nuclear Information System (INIS)

Taylor, S.A.; Torkzad, M.R.; Bhatnagar, G.; Avni, F.; Cronin, C.G.; Hoeffel, C.; Kim, S.H.; Laghi, A.; Napolitano, M.; Petit, P.; Rimola, J.; Tolan, D.J.; Zappa, M.; Puylaert, C.A.J.; Stoker, J.

2017-01-01

To develop guidelines describing a standardised approach to patient preparation and acquisition protocols for magnetic resonance imaging (MRI), computed tomography (CT) and ultrasound (US) of the small bowel and colon, with an emphasis on imaging inflammatory bowel disease. An expert consensus committee of 13 members from the European Society of Gastrointestinal and Abdominal Radiology (ESGAR) and European Society of Paediatric Radiology (ESPR) undertook a six-stage modified Delphi process, including a detailed literature review, to create a series of consensus statements concerning patient preparation, imaging hardware and image acquisition protocols. One hundred and fifty-seven statements were scored for agreement by the panel of which 129 statements (82 %) achieved immediate consensus with a further 19 (12 %) achieving consensus after appropriate modification. Nine (6 %) statements were rejected as consensus could not be reached. These expert consensus recommendations can be used to help guide cross-sectional radiological practice for imaging the small bowel and colon. (orig.)

The first joint ESGAR/ ESPR consensus statement on the technical performance of cross-sectional small bowel and colonic imaging

Energy Technology Data Exchange (ETDEWEB)

Taylor, S.A.; Torkzad, M.R.; Bhatnagar, G. [University College London, Centre for Medical Imaging, London (United Kingdom); Avni, F. [Lille University Hospitals, Department of Paediatric Imaging, Jeanne de Flandre Hospital, Lille (France); Cronin, C.G. [Mater Misericordiae University Hospital, Department of Radiology, Dublin (Ireland); Hoeffel, C. [Hopital Robert Debre, Department of Radiology, Reims (France); Kim, S.H. [Inje University College of Medicine, Haeundae Paik Hospital, Department of Radiology, Busan (Korea, Republic of); Laghi, A. [Sapienza University of Rome, I.C.O.T. Hospital, Department of Radiological Sciences, Oncology and Pathology, Latina (Italy); Napolitano, M. [V. Buzzi Children' s Hospital, Department of Radiology and Neuroradiology, Milan (Italy); Petit, P. [Timone Enfant Hospital, Department of Paediatric Radiology, Marseille (France); Rimola, J. [University of Barcelona, Radiology Department, Hospital Clinic Barcelona, Catalonia (Spain); Tolan, D.J. [St James' s University Hospital, Leeds Teaching Hospitals NHS Trust (United Kingdom); Zappa, M. [Hopital Beaujon, AP-HP, Universite Paris 7, INSERM CRI U1149, Department of Radiology, Clichy (France); Puylaert, C.A.J.; Stoker, J. [University of Amsterdam, Department of Radiology, Academic Medical Centre, Amsterdam (Netherlands)

2017-06-15

To develop guidelines describing a standardised approach to patient preparation and acquisition protocols for magnetic resonance imaging (MRI), computed tomography (CT) and ultrasound (US) of the small bowel and colon, with an emphasis on imaging inflammatory bowel disease. An expert consensus committee of 13 members from the European Society of Gastrointestinal and Abdominal Radiology (ESGAR) and European Society of Paediatric Radiology (ESPR) undertook a six-stage modified Delphi process, including a detailed literature review, to create a series of consensus statements concerning patient preparation, imaging hardware and image acquisition protocols. One hundred and fifty-seven statements were scored for agreement by the panel of which 129 statements (82 %) achieved immediate consensus with a further 19 (12 %) achieving consensus after appropriate modification. Nine (6 %) statements were rejected as consensus could not be reached. These expert consensus recommendations can be used to help guide cross-sectional radiological practice for imaging the small bowel and colon. (orig.)

THE DEVELOPMENT OF THE ACTIVITY OF BANKS WITH FOREIGN CAPITAL IN CENTRAL AND EASTERN EUROPE

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RADULESCU MAGDALENA

2014-05-01

Full Text Available The privatization has as purpose to reestablish the functionality of a type of property under the public agreement. The privatization of banks brings both positive and beneficial aspects, but also some notions with a negative impact that influence the capital markets and banking system. Among the benefits we can include: the increase of the effectiveness and performance of the banking operations, the implementation of some effective structures that lead to the gradual integration of the banking system into the greatly developed economies, the improvement and perfecting of the bank services. In Romania, the privatization of banks started rather late and in some cases it turned up to be very difficult. Romanian banking system is dominated by the Austrian and Greek investors. The Romanian banking system is very concentrated, but the intermediation level is still lower than in other European or Eastern European countries.

THE FINANCIAL SECTOR OF THE STATE - THE STRUCTURE OF THE BANKING SYSTEM WITH A BANKING SECTOR IN CENTRAL AND EASTERN EUROPEAN COUNTRIES

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Ljiljana Stošić Mihajlović

2017-10-01

Full Text Available The financial sector of each country in the world has its own specificities that depend on many factors. In this paper we will talk about the structure of the financial system in our country from the aspect of the banking sector. Banks are specialized institutions that have a special role in the development of the country's economic system, as their basic function is to supply the economy with the necessary amount of loans and money. Banking business is a special economic activity. It is determined by the type and content of banking operations. In general terms, banking transactions are divided into two groups: active and passive. The Bank is established as a joint-stock company, which is regulated by the laws on banks and international regulatory frameworks.

Challenges of the banking regulation systems in the climate of the world economic crisis

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Sedlarević Lazar

2014-01-01

Full Text Available At the end of the 20th century, banking systems of the developed countries have undergone multiple changes, where the basic dimensions of those changes were integration, deregulation and globalisation of activities. The resultant of these factors' actions was the creation of highly risky banking environment, which acted as a catalyst of the world economic crisis effects. These effects brought to the forefront weaknesses of the banking sector and of the banking regulation system, while emphasizing the need for their redefining. Hence this work examines in detail concrete models of the banking regulation systems in the European Union area and in the United States of America. In addition, directions of redefining regulation system were highlighted, and also the relevant differences between banking business regulation in the European Union and in the United States of America.

Bank Resolution in Europe

DEFF Research Database (Denmark)

N. Gordon, Jeffery; Ringe, Georg

2015-01-01

This chapter argues that the work of the European Banking Union remains incomplete in one important respect, the structural re-organization of large European financial firms that would make “resolution” of a systemically important financial firm a credible alternative to bail-out or some other sort...... of taxpayer assistance. A holding company structure in which the public parent holds unsecured term debt sufficient to cover losses at an operating financial subsidiary would facilitate a “Single Point of Entry” resolution procedure that would minimize knock-on effects from the failure of a systemically...

Bank Resolution in Europe

DEFF Research Database (Denmark)

Gordon, Jeffrey N.; Ringe, Georg

This chapter argues that the work of the European Banking Union remains incomplete in one important respect, the structural re-organization of large European financial firms that would make “resolution” of a systemically important financial firm a credible alternative to bail-out or some other sort...... of taxpayer assistance. A holding company structure in which the public parent holds unsecured term debt sufficient to cover losses at an operating financial subsidiary would facilitate a “Single Point of Entry” resolution procedure that would minimize knock-on effects from the failure of a systemically...

Bleeding risk assessment and management in atrial fibrillation patients. Executive Summary of a Position Document from the European Heart Rhythm Association [EHRA], endorsed by the European Society of Cardiology [ESC] Working Group on Thrombosis

NARCIS (Netherlands)

Lip, Gregory Y. H.; Andreotti, Felicita; Fauchier, Laurent; Huber, Kurt; Hylek, Elaine; Knight, Eve; Lane, Deirdre; Levi, Marcel; Marín, Francisco; Palareti, Gualtiero; Kirchhof, Paulus

2011-01-01

In this executive summary of a Consensus Document from the European Heart Rhythm Association, endorsed by the European Society of Cardiology Working Group on Thrombosis, we comprehensively review the published evidence and propose a consensus on bleeding risk assessments in atrial fibrillation (AF)

Establishing Key Performance Indicators [KPIs] and Their Importance for the Surgical Management of Inflammatory Bowel Disease-Results From a Pan-European, Delphi Consensus Study.

Science.gov (United States)

Morar, Pritesh S; Hollingshead, James; Bemelman, Willem; Sevdalis, Nick; Pinkney, Thomas; Wilson, Graeme; Dunlop, Malcolm; Davies, R Justin; Guy, Richard; Fearnhead, Nicola; Brown, Steven; Warusavitarne, Janindra; Edwards, Cathryn; Faiz, Omar

2017-10-27

Key performance indicators [KPIs] exist across a range of areas in medicine. They help to monitor outcomes, reduce variation, and drive up standards across services. KPIs exist for inflammatory bowel disease [IBD] care, but none specifically cover inflammatory bowel disease [IBD] surgical service provision. This was a consensus-based study using a panel of expert IBD clinicians from across Europe. Items were developed and fed through a Delphi process to achieve consensus. Items were ranked on a Likert scale from 1 [not important] to 5 [very important]. Consensus was defined when the inter quartile range was ≤ 1, and items with a median score > 3 were considered for inclusion. A panel of 21 experts [14 surgeons and 7 gastroenterologists] was recruited. Consensus was achieved on procedure-specific KPIs for ileocaecal and perianal surgery for Crohn's disease, [N = 10] with themes relating to morbidity [N = 7], multidisciplinary input [N = 2], and quality of life [N = 1]; and for subtotal colectomy, proctocolectomy and ileoanal pouch surgery for ulcerative colitis [N = 11], with themes relating to mortality [N = 2], morbidity [N = 8], and service provision [N = 1]. Consensus was also achieved for measures of the quality of IBD surgical service provision and quality assurance in IBD surgery. This study has provided measurable KPIs for the provision of surgical services in IBD. These indicators cover IBD surgery in general, the governance and structures of the surgical services, and separate indicators for specific subareas of surgery. Monitoring of IBD services with these KPIs may reduce variation across services and improve quality. Copyright © 2017 European Crohn’s and Colitis Organisation (ECCO). Published by Oxford University Press. All rights reserved. For permissions, please email: journals.permissions@oup.com

The New Intergovernmentalism in Financial Regulation and European Banking Union

OpenAIRE

Howarth, David; Quaglia, Lucia

2015-01-01

This contribution asks whether a new type of intergovernmentalism has emerged in financial services regulation and Banking Union. Since financial services are a key area of the single market, the chapter concludes by reflecting on whether the governance trends in the financial sector can be generalised to other areas of the single market. It is argued that the single market for financial services, which encompasses financial regulation and the plan for Banking Union, provides an interesting m...

The Role of Central Bank Transparency for Guiding Private Sector Forecasts

NARCIS (Netherlands)

Ehrmann, M.; Eijffinger, S.C.W.; Fratzcher, M.

2009-01-01

There is a broad consensus in the literature that costs of information processing and acquisition may generate costly disagreements in expectations among economic agents, and that central banks may play a central role in reducing such dispersion in expectations. This paper analyses empirically

Credit risk determinants in Sub-Saharan banking systems: Evidence from five countries and lessons learnt from Central East and South East European countries

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Eftychia Nikolaidou

2017-06-01

Full Text Available Banking systems in Sub-Saharan Africa (SSA have grown notably over the past decades due to benign macroeconomic, regulatory and financial trends. Nonetheless, downside risks remain elevated by structural issues, commodity price fluctuations, reversal of capital flows and spill-over effects from external shocks in a manner similar to the Central East and South East European (CESEE countries. In the light of the 2008–2009 Global Financial Crisis, great attention has been given to understanding the causes of banking instability with most of the research focusing on advanced economies and, to a lesser extent, large emerging markets while little attention has been paid to the bank-based financial sectors of Sub-Saharan Africa. Furthermore, there is scarcity of studies aiming at knowledge-sharing among different emerging economies. This paper aims to identify the determinants of bank credit risk by focusing on five SSA countries: Kenya, Namibia, South Africa, Zambia and Uganda. Using the ARDL approach to cointegration, findings indicate that increased money supply conditions have a decreasing effect on NPLs in all counties, banking industry-specific variables play a significant role in the case of South Africa and Uganda while NPLs are driven by country-specific variables in the case of Kenya, South Africa and Zambia. The effect of the Global Financial Crisis is evidenced indirectly. Drawing on evidence from CESEE countries with long experience in banking crises, reforms and financial deepening process, the paper provides lessons for SSA countries and offers policy recommendations in the direction of strengthening banks’ balance sheets to ensure financial stability.

GenBank.

OpenAIRE

Benson, D; Lipman, D J; Ostell, J

1993-01-01

The GenBank sequence database has undergone an expansion in data coverage, annotation content and the development of new services for the scientific community. In addition to nucleotide sequences, data from the major protein sequence and structural databases, and from U.S. and European patents is now included in an integrated system. MEDLINE abstracts from published articles describing the sequences provide an important new source of biological annotation for sequence entries. In addition to ...

Impact of financial liberalization on banking sectors performance from central and eastern European countries.

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Alin Marius Andries

Full Text Available In this paper we analyse the impact of financial liberalization and reforms on the banking performance in 17 countries from CEE for the period 2004-2008 using a two-stage empirical model that involves estimating bank performance in the first stage and assessing its determinants in the second one. From our analysis it results that banks from CEE countries with higher level of liberalization and openness are able to increase cost efficiency and eventually to offer cheaper services to clients. Banks from non-member EU countries are less cost efficient but experienced much higher total productivity growth level, and large sized banks are much more cost efficient than medium and small banks, while small sized banks show the highest growth in terms of productivity.

Impact of Financial Liberalization on Banking Sectors Performance from Central and Eastern European Countries

Science.gov (United States)

Andries, Alin Marius; Capraru, Bogdan

2013-01-01

In this paper we analyse the impact of financial liberalization and reforms on the banking performance in 17 countries from CEE for the period 2004–2008 using a two-stage empirical model that involves estimating bank performance in the first stage and assessing its determinants in the second one. From our analysis it results that banks from CEE countries with higher level of liberalization and openness are able to increase cost efficiency and eventually to offer cheaper services to clients. Banks from non-member EU countries are less cost efficient but experienced much higher total productivity growth level, and large sized banks are much more cost efficient than medium and small banks, while small sized banks show the highest growth in terms of productivity. PMID:23555745

For Whom and for What the Definition of Severe Dementia Is Useful an EDCON Consensus.

NARCIS (Netherlands)

Byrne, E.J.; Benoit, M.; Lopez Arrieta, J.M.; Geraldi, C.; Koopmans, R.T.C.M.; Rolland, Y.; Sartorius, N.; Stoppe, G.; Robert, P.H.

2008-01-01

The European Dementia Consensus Network (EDCON) is a special project of the Madariaga Foundation located in Brussels. The Madariaga Foundation seeks to facilitate collaboration between European countries and between the public and private sector. This paper will review the differences in the

Management and follow-up of gallbladder polyps : Joint guidelines between the European Society of Gastrointestinal and Abdominal Radiology (ESGAR), European Association for Endoscopic Surgery and other Interventional Techniques (EAES), International Society of Digestive Surgery - European Federation (EFISDS) and European Society of Gastrointestinal Endoscopy (ESGE).

Science.gov (United States)

Wiles, Rebecca; Thoeni, Ruedi F; Barbu, Sorin Traian; Vashist, Yogesh K; Rafaelsen, Søren Rafael; Dewhurst, Catherine; Arvanitakis, Marianna; Lahaye, Max; Soltes, Marek; Perinel, Julie; Roberts, Stuart Ashley

2017-09-01

The management of incidentally detected gallbladder polyps on radiological examinations is contentious. The incidental radiological finding of a gallbladder polyp can therefore be problematic for the radiologist and the clinician who referred the patient for the radiological examination. To address this a joint guideline was created by the European Society of Gastrointestinal and Abdominal Radiology (ESGAR), European Association for Endoscopic Surgery and other Interventional Techniques (EAES), International Society of Digestive Surgery - European Federation (EFISDS) and European Society of Gastrointestinal Endoscopy (ESGE). A targeted literature search was performed and consensus guidelines were created using a series of Delphi questionnaires and a seven-point Likert scale. A total of three Delphi rounds were performed. Consensus regarding which patients should have cholecystectomy, which patients should have ultrasound follow-up and the nature and duration of that follow-up was established. The full recommendations as well as a summary algorithm are provided. These expert consensus recommendations can be used as guidance when a gallbladder polyp is encountered in clinical practice. • Management of gallbladder polyps is contentious • Cholecystectomy is recommended for gallbladder polyps >10 mm • Management of polyps <10 mm depends on patient and polyp characteristics • Further research is required to determine optimal management of gallbladder polyps.

The European General Practice Research Network Presents the Translations of Its Comprehensive Definition of Multimorbidity in Family Medicine in Ten European Languages

Science.gov (United States)

Le Reste, Jean Yves; Nabbe, Patrice; Rivet, Charles; Lygidakis, Charilaos; Doerr, Christa; Czachowski, Slawomir; Lingner, Heidrun; Argyriadou, Stella; Lazic, Djurdjica; Assenova, Radost; Hasaganic, Melida; Munoz, Miquel Angel; Thulesius, Hans; Le Floch, Bernard; Derriennic, Jeremy; Sowinska, Agnieska; Van Marwijk, Harm; Lietard, Claire; Van Royen, Paul

2015-01-01

Background Multimorbidity, according to the World Health Organization, exists when there are two or more chronic conditions in one patient. This definition seems inaccurate for the holistic approach to Family Medicine (FM) and long-term care. To avoid this pitfall the European General Practitioners Research Network (EGPRN) designed a comprehensive definition of multimorbidity using a systematic literature review. Objective To translate that English definition into European languages and to validate the semantic, conceptual and cultural homogeneity of the translations for further research. Method Forward translation of the EGPRN’s definition of multimorbidity followed by a Delphi consensus procedure assessment, a backward translation and a cultural check with all teams to ensure the homogeneity of the translations in their national context. Consensus was defined as 70% of the scores being higher than 6. Delphi rounds were repeated in each country until a consensus was reached Results 229 European medical expert FPs participated in the study. Ten consensual translations of the EGPRN comprehensive definition of multimorbidity were achieved. Conclusion A comprehensive definition of multimorbidity is now available in English and ten European languages for further collaborative research in FM and long-term care. PMID:25607642

ROMANIAN BANKING SYSTEM EVOLUTION AND BASEL II REQUIREMENTS

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Mihaela NICOLAU

2006-01-01

Full Text Available Before 1989, Romanian Banking System was structured in the specific way of a centralized economy. Restructuring of the banking system took its first step at the end of 1990 when the newly- established bank, Banca Comercială Română, took over retail operations performed previously by the NBR. Simultaneously, some privately-owned banking companies were established and foreign banks’ branches were integrated into the domestic banking activity, the number of banks almost trebling. The unfriendly economic environment, the poor quality of bank managers and shareholders and cumbersome legal procedures led to an increase in tensions, the poor quality of credit portfolio representing the major difficulty of the banking sector. In the past years, NBR tried to control more thebanking activity by implementing international settlements. More over, since Romania is one of the European Union countries, it is absolutely necessary the harmonization of entire economic and financial system to EU regulations. The paper try to present the position of Romanian banking system in the framework of all these transformations.

Integration of European Banking and Financial Markets

OpenAIRE

Marques Ibanez, David; Molyneux, Philip

2002-01-01

This paper investigates banking and capital market developments in Europe and the moves towards the creation of a single financial services market. A critical element in the integration process is the success of the EU's Financial Services Action Plan (FSAP). This seeks to introduce a wide range of legislation aimed at reducing barriers and promoting cross-border trade in financial services - especially for capital markets and retail / SME financial service areas. As was the case in 1992, it ...

PRUDENTIAL SUPERVISION OF NON-BANKING FINANCIAL INSTITUTION: DEVELOPMENTS AND PROSPECTS

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Adrian COSTEA

2011-08-01

Full Text Available This study addresses the practice of the supervision authority relating to performance evaluation of non-banking financial institutions from a prudential supervision perspective. First, it is described how non-banking financial institutions’ activity is regulated in the European Union and the current status of non-banking financial institutions’ sector in Romania. Then, the study presents the challenges and opportunities faced by the supervision authority when evaluating the performance of non-banking financial institutions and, finally, defines a set of indicators based on which these institutions can be benchmarked against each other.

DEVELOPMENT OF ISLAMIC BANKING IN TURKEY

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ISTVÁN EGRESI

2015-12-01

Full Text Available While the financial world is still dominated by conventional banks, based on western economic principles, the number of Islamic banks is on the rise. Islamic banks have originated from colonial India as a response of the Muslims to the British who attempted to westernize their society. Other similar financial operations based on Islamic Law (Shari’a were established in Pakistan, Malaysia and Egypt to facilitate access of rural poor to interest-free loans. However, being unprofitable, these operations did not survive for very long. Islamic banks, unlike conventional banks, are not based on interest and conduct their business in accordance with a wide array of ethical and moral issues. The modern phase of Islamic banking started in the 1970s when the Islamic Development Bank was founded in Saudi Arabia. Soon after, a number of commercial banks were established in the neighboring countries. From this core, over the last four decades, Islamic finance and banking has spread across the entire Muslim world and beyond to become a global phenomenon. This study examines the development of Islamic banking in Turkey in the wider context of global expansion. Turkey is an interesting case study because, although its population is nearly 100% Muslim, it is a secular state built on the model of Western European countries. However, lately, the moderate Islamic party in power since 2002 has shown some signs of openness towards a parallel banking system based on Islamic principles.

SME Financing in Europe: Cross-Country Determinant of Bank Loan Maturity

NARCIS (Netherlands)

Koeter-Kant, J.; Hernandez-Canovas, G.

2011-01-01

This article examines the influence of cross-country differences on bank loan maturity for small and medium-sized enterprises (SMEs), using a sample of 3366 SMEs from 19 European countries. It analyses a country's legal and institutional environment while controlling for banking structure, economic

The Impact of International Financial Crisis on Bank Performance in Eastern and Central European Countries

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Alin-Marius Andrieș

2016-05-01

Full Text Available In this paper we investigate the determinants of bank profitability in 10 countries from Central and Eastern Europe, in the period between 2004 and 2013. We proxy the profitability of banks with more commonly used ratio: the return on assets (ROA, computed as a ratio of the net profit to the total bank assets. We used multiple regression with bank specific variables, banking industry variables and macroeconomic variables. Moreover, we added a global financial crisis dummy to highlight the crisis impact on asset return. OLS is the main estimation method, but we also used difference-in-difference in order to test if the crisis impact was amplified or diminished by the bank specific characteristics. The evidence shows significant differences between the profit levels of the CEEC banks. Our results are in line with the empirical literature. The impact of the international financial crisis on ROA was negative and statistically significant, as expected. The second part of the analysis we separate the banks sample in three categories: banks with high capital adequacy, large banks by total assets and foreign-owned banks. Our findings show that the three selected variables both amplified and decreased the crisis effect.

European Perspectives of Teacher Education and Training

Science.gov (United States)

Sayer, John

2006-01-01

Despite broad agreements on professional mobility, there has been little movement towards consensus across the European Union on what constitutes the good teacher and therefore on common features in training and qualification. Political declarations have not led to significant action by national politicians. Impetus towards a European dimension in…

The effects of a new financial supervisory system on consolidation in banking sector

OpenAIRE

Novickytė, L.

2012-01-01

The recent financial turmoil has prompted to review the current financial regulatory framework mechanism. The present financial system reform could be a cause of the integration and consolidation processes in banking, because banks play a very important role in the economy. This article examines the changes of European Union's financial system, regulatory rules, and extending the potential of the financial sector perspective. This paper attempts to evaluate the European Union financial struct...

THE NEW ARCHITECTURE OF ECONOMIC GOVERNANCE IN THE EUROPEAN UNION

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Coroiu Sorina Ioana

2015-07-01

Full Text Available The economic crisis that began in 2007-2008 has highlighted the need for a stronger economic coordination at EU level, to ensure financial stability. The new architecture of economic governance in the European Union is based on Fiscal Pact, on Macroeconomic Imbalances Identification Mechanism, on European Stability Mechanism and on Banking Union. Since the banking system is the most significant component of the financial system, we will give more importance to the analysis of Banking Union, which is based on three pillars: The Single Supervisory Mechanism, The Single Resolution Mechanism and The Deposit Guarantee Schemes.

A MACROPRUDENTIAL SUPERVISION MODEL. EMPIRICAL EVIDENCE FROM THE CENTRAL AND EASTERN EUROPEAN BANKING SYSTEM

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Trenca Ioan

2013-07-01

Full Text Available One of the positive effects of the financial crises is the increasing concern of the supervisors regarding the financial system’s stability. There is a need to strengthen the links between different financial components of the financial system and the macroeconomic environment. Banking systems that have an adequate capitalization and liquidity level may face easier economic and financial shocks. The purpose of this empirical study is to identify the main determinants of the banking system’s stability and soundness in the Central and Eastern Europe countries. We asses the impact of different macroeconomic variables on the quality of capital and liquidity conditions and examine the behaviour of these financial stability indicators, by analyzing a sample of 10 banking systems during 2000-2011. The availability of banking capital signals the banking system’s resiliency to shocks. Capital adequacy ratio is the main indicator used to assess the banking fragility. One of the causes of the 2008-2009 financial crisis was the lack of liquidity in the banking system which led to the collapse of several banking institutions and macroeconomic imbalances. Given the importance of liquidity for the banking system, we propose several models in order to determine the macroeconomic variables that have a significant influence on the liquid reserves to total assets ratio. We found evidence that GDP growth, inflation, domestic credit to private sector, as well as the money and quasi money aggregate indicator have significant impact on the banking stability. The empirical regression confirms the high level of interdependence of the real sector with the financial-banking sector. Also, they prove the necessity for an effective macro prudential supervision at country level which enables the supervisory authorities to have an adequate control over the macro prudential indicators and to take appropriate decisions at the right time.

Assessing the competitive conditions in the Italian banking system: some empirical evidence

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Paolo Coccorese

1998-06-01

Full Text Available In the wake of European financial market integration, resulting from the elimination of controls on capital movements and the free access given to banks to other domestic markets within the EU, the Italian financial system has undergone a considerable transformation. In the aftermath of these new changes, however, has there been an increase in competition resulting in significant gains for consumers? Or rather, is unification alone, due to imperfections in financial markets, not enough to bring about stronger competition? Utilizing the Rosse-Panzar test, the author analyzes a sample of Italian banks from 1988-96 to evaluate the degree of competition in the industry. The findings suggest that the Italian banking industry operates under conditions of monopolistic competition and that European integration has yet to have a significant impact on industry conduct. However, the Author notes that due to the relative novelty of liberalization its long-term effect can not yet be known. Although the banking industry was far from equilibrium in the years examined, after the initiation of European integration there was a move towards it, however, it has yet to be attained.

Internet Banking in Romania at a Glance

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Silvia Ghita-Mitrescu

2016-01-01

Full Text Available The development of the information and communication technologies and the changes brought to the business models by introducing the use of internet services in the recent decades could not be ignored by the banking industry. The emergence and the development of the internet banking have raised many questions to both academia and industry representatives, both in terms of the benefits of the new organizational models based on providing financial services online and the degree of penetration of these services at the national economy level. This paper aims to make an analysis of the extent to which the internet banking services are used in Romania. The analysis took into account various criteria for the classification of internet banking users (age, residence, occupational status. The study showed that the use of the internet banking services in Romania is still below the European average but has an upward trend.

BASEL III IMPACT ON ROMANIAN BANKING SYSTEM PERFORMANCE

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Mariana G. NEDELCU (BUNEA

2014-04-01

Full Text Available In the context of economic and financial crisis triggered in EU by autumn 2008, Romania's banking system like that in the other European countries, faced with the consequences of decreasing the standard of living the worsening of purchasing power (in terms of retail and with gaps and Delay occurred in the payment of corporate clients. However the deteriorating the quality of bank investments, increasing non-performing loans in bank portfolios totate ultimately causing the accumulation of excessive risks that banks were exposed. On the background of the crisis, the impact of Basel III is not only a financial regulation that is applicable to the banking industry and will fundamentally determine the profitability of the banking system. Through this study, we propose a series of measures applicable to the credit institutions to mitigate the impact of alignment with the new capital requirements.

ESGAR consensus statement on liver MR imaging and clinical use of liver-specific contrast agents

Energy Technology Data Exchange (ETDEWEB)

Neri, E.; Boraschi, P.; Bartolozzi, C. [University of Pisa, Department of Diagnostic and Interventional Radiology, Pisa (Italy); Bali, M.A.; Matos, C. [Hopital Erasme, MRI Clinics, Department of Radiology, Bruxelles (Belgium); Ba-Ssalamah, A. [The General Hospital of the Medical University of Vienna, Department of Biomedical Imaging and Image-guided Therapy, Vienna (Austria); Brancatelli, G. [University of Palermo, Department of Radiology, Palermo (Italy); Alves, F.C. [University Hospital of Coimbra, Medical Imaging Department and Faculty of Medicine, Coimbra (Portugal); Grazioli, L. [Spedali Civili di Brescia, Department of Radiology, Brescia (Italy); Helmberger, T. [Academic Teaching Hospital of the Technical University, Department of Diagnostic and Interventional Radiology and Nuclear Medicine, Klinikum Bogenhausen, Munich (Germany); Lee, J.M. [Seoul National University College of Medicine, Division of Abdominal Imaging, Department of Radiology, Seoul (Korea, Republic of); Manfredi, R. [University of Verona, Department of Radiology, Verona (Italy); Marti-Bonmati, L. [Hospital Universitario y Politecnico La Fe, Area Clinica de Imagen Medica, Valencia (Spain); Merkle, E.M. [Universitaetsspital Basel, Klinik fuer Radiologie und Nuklearmedizin, Basel (Switzerland); Op De Beeck, B. [Antwerp University Hospital, Department of Radiology, Edegem (Belgium); Schima, W. [KH Goettlicher Heiland, Krankenhaus der Barmherzigen Schwestern and Sankt Josef-Krankenhaus, Department of Diagnostic and Interventional Radiology, Vienna (Austria); Skehan, S. [St Vincent' s University Hospital, Department of Radiology, Dublin (Ireland); Vilgrain, V. [Assistance Publique-Hopitaux de Paris, APHP, Hopital Beaujon, Radiology Department, Clichy, Paris (France); Zech, C. [Universitaetsspital Basel, Abteilungsleiter Interventionelle Radiologie, Klinik fuer Radiologie und Nuklearmedizin, Basel (Switzerland)

2016-04-15

To develop a consensus and provide updated recommendations on liver MR imaging and the clinical use of liver-specific contrast agents. The European Society of Gastrointestinal and Abdominal Radiology (ESGAR) formed a multinational European panel of experts, selected on the basis of a literature review and their leadership in the field of liver MR imaging. A modified Delphi process was adopted to draft a list of statements. Descriptive and Cronbach's statistics were used to rate levels of agreement and internal reliability of the consensus. Three Delphi rounds were conducted and 76 statements composed on MR technique (n = 17), clinical application of liver-specific contrast agents in benign, focal liver lesions (n = 7), malignant liver lesions in non-cirrhotic (n = 9) and in cirrhotic patients (n = 18), diffuse and vascular liver diseases (n = 12), and bile ducts (n = 13). The overall mean score of agreement was 4.84 (SD ±0.17). Full consensus was reached in 22 % of all statements in all working groups, with no full consensus reached on diffuse and vascular diseases. The consensus provided updated recommendations on the methodology, and clinical indications, of MRI with liver specific contrast agents in the study of liver diseases. (orig.)

Banking cord blood stem cells: attitude and knowledge of pregnant women in five European countries.

Science.gov (United States)

Katz, Gregory; Mills, Antonia; Garcia, Joan; Hooper, Karen; McGuckin, Colin; Platz, Alexander; Rebulla, Paolo; Salvaterra, Elena; Schmidt, Alexander H; Torrabadella, Marta

2011-03-01

This study explores pregnant women's awareness of cord blood stem cells and their attitude regarding banking options in France, Germany, Italy, Spain, and the UK. Questionnaires were distributed in six maternities. This anonymous and self-completed questionnaire included 29 multiple-choice questions based on: 1) sociodemographic factors, 2) awareness and access to information about cord blood banking, 3) banking option preferences, and 4) donating cord blood units (CBUs) to research. A total of 79% of pregnant women had little awareness of cord blood banking (n = 1620). A total of 58% of women had heard of the therapeutic benefits of cord blood, of which 21% received information from midwives and obstetricians. A total of 89% of respondents would opt to store CBUs. Among them, 76% would choose to donate CBUs to a public bank to benefit any patient in need of a cord blood transplant. Twelve percent would choose a mixed bank, and 12%, a private bank. A total of 92% would donate their child's CBU to research when it is not suitable for transplantation. The study reveals a strong preference for public banking in all five countries, based on converging values such as solidarity. Attitudes of pregnant women are not an obstacle to the rapid expansion of allogeneic banking in these EU countries. Banking choices do not appear to be correlated with household income. The extent of commercial marketing of cord blood banks in mass media highlights the importance for obstetric providers to play a central role in raising women's awareness early during their pregnancy with evidence-based medical information about banking options. © 2010 American Association of Blood Banks.

Forward Looking Banking Stress in EMU Countries

OpenAIRE

Gómez-Puig, Marta; Sosvilla Rivero, Simón, 1961-; Singh, Manish Kumar

2014-01-01

Based on contingent claims analysis(CCA), this paper tries to estimate the systemic risk build-up in the European Economic and Monetary Union (EMU) countries using a market based measure "distance-to-default"(DtD). It analyzes the individual and aggregated series for a comprehensive set of banks in each eurozone country over the period 2004-Q4 to 2013-Q2. Given the structural differences in financial sector and banking regulations at national level, the indices provide a useful indicator for ...

Diagnosis and treatment of Merkel Cell Carcinoma. European consensus-based interdisciplinary guideline

DEFF Research Database (Denmark)

Lebbe, Celeste; Becker, Jürgen C; Grob, Jean-Jacques

2015-01-01

Merkel cell carcinoma (MCC) is a rare tumour of the skin of neuro-endocrine origin probably developing from neuronal mechanoreceptors. A collaborative group of multidisciplinary experts form the European Dermatology Forum (EDF), The European Association of Dermato-Oncology (EADO) and the European...

CLO-PLA: a database of clonal and bud-bank traits of the Central European flora.

Science.gov (United States)

Klimešová, Jitka; Danihelka, Jiří; Chrtek, Jindřich; de Bello, Francesco; Herben, Tomáš

2017-04-01

This dataset presents comprehensive and easy-to-use information on 29 functional traits of clonal growth, bud banks, and lifespan of members of the Central European flora. The source data were compiled from a number of published sources (see the reference file) and the authors' own observations or studies. In total, 2,909 species are included (2,745 herbs and 164 woody species), out of which 1,532 (i.e., 52.7% of total) are classified as possessing clonal growth organs (1,480, i.e., 53.9%, if woody plants are excluded). This provides a unique, and largely unexplored, set of traits of clonal growth that can be used in studies on comparative plant ecology, plant evolution, community assembly, and ecosystem functioning across the large flora of Central Europe. It can be directly imported into a number of programs and packages that perform trait-based and phylogenetic analyses aimed to answer a variety of open and pressing ecological questions. © 2017 by the Ecological Society of America.

Diagnosis and treatment of melanoma. European consensus-based interdisciplinary guideline - Update 2016

DEFF Research Database (Denmark)

Garbe, Claus; Peris, Ketty; Hauschild, Axel

2016-01-01

Cutaneous melanoma (CM) is potentially the most dangerous form of skin tumour and causes 90% of skin cancer mortality. A unique collaboration of multi-disciplinary experts from the European Dermatology Forum, the European Association of Dermato-Oncology and the European Organisation of Research a...

[Reproduction of European bank vole (Myodes glareolus, Rodentia) under conditions of natural geochemical anomalies].

Science.gov (United States)

Baĭtimirova, E A; Mamina, V P; Zhigal'skiĭ, O A

2010-01-01

Estimates of abundance, morpho-functional state of ovaries, potential and actual fecundity of European bank vole, Myodes glareolus, inhabiting the territories of natural geochemical anomalies that are situated over ultra-basic rock and have an excess content of chrome, nickel, and cobaltare obtained. The population adaptive response to extreme geochemical conditions that facilitates the species survival under unfavorable environmental conditions and is manifested through an increase in potential and actual fecundity, decline of pre-implantation mortality, and decrease in proportion of females with pre-implantation losses is revealed. It is shown that in anomalous areas the intensity of folliculogenesis in mature voles is independent of the population cycle phase. As for immature animals residing within geochemical anomalies, an increase in size and numbers of follicles in ovaries is observed which is indicative of maturation fastening. An increase in potential and actual fecundity, as well as changes in morpho-functional state of ovaries, can be interpreted as means of birth rate accelerating which is supposed to compensate high postnatal mortality and maintain population abundance.

Government chartered banks step up oil and gas lending

International Nuclear Information System (INIS)

Crow, P.

1994-01-01

International government chartered banks are playing an increasingly prominent role in lending for world oil and gas development projects. The main players are the World Bank's International Finance Corp. (IFC), European Bank for Reconstruction and Development (EBRD), US Export-Import Bank, and Overseas Private Investment Corp. (OPIC). Those institutions and similar ones are the catalysts for a large number of projects in the former Soviet Union (FSU) and in other nations that are seeking to develop oil and gas resources and build processing plants, pipelines, and distribution networks. Banks also are taking a greater degree of interest in the environmental aspects of projects. In country after country, especially in the developing world, barriers to foreign investment in domestic petroleum sectors are falling. Oil and gas law reforms are under way on each continent. The paper discusses the major players, the World Bank grouped, the Romanian example, the Ex-Im Bank, OPIC, the emphasis on FSU, environmental issues, and new sources of capital in developing countries

Structural and Qualitative Analysis of the Romanian Banking System

Directory of Open Access Journals (Sweden)

Anisoara Niculina APETRI

2010-12-01

Full Text Available The banking sector, the predominant component of the Romanian financial system, had a relatively stable structure in the period 2005-2009 and has experienced significant consolidation, particularly in the years 2005-2006, this being sustained mainly by the restructuring and privatization process, but also by Romania's EU accession perspective and the competitive environment in this area. Given the new status of Romania as EU member country, the competition in the banking system has increased significantly, leading to both structural changes, but also to changes in levels of analysis indicators of banking structure and performance. Following this analysis, it appears that, recently, our country's banking system saw a dynamic and unprecedented diversification resulting from the economic development of the society and adaptation to EU requirements, and we can say that in Romania there is, now, a modern and competitive banking system, which provides circulation of the domestic economy and provides banking products and services in accordance with trends in the European banking sector.

Consensus on consensus: a synthesis of consensus estimates on human-caused global warming

Science.gov (United States)

Cook, John; Oreskes, Naomi; Doran, Peter T.; Anderegg, William R. L.; Verheggen, Bart; Maibach, Ed W.; Carlton, J. Stuart; Lewandowsky, Stephan; Skuce, Andrew G.; Green, Sarah A.; Nuccitelli, Dana; Jacobs, Peter; Richardson, Mark; Winkler, Bärbel; Painting, Rob; Rice, Ken

2016-04-01

The consensus that humans are causing recent global warming is shared by 90%-100% of publishing climate scientists according to six independent studies by co-authors of this paper. Those results are consistent with the 97% consensus reported by Cook et al (Environ. Res. Lett. 8 024024) based on 11 944 abstracts of research papers, of which 4014 took a position on the cause of recent global warming. A survey of authors of those papers (N = 2412 papers) also supported a 97% consensus. Tol (2016 Environ. Res. Lett. 11 048001) comes to a different conclusion using results from surveys of non-experts such as economic geologists and a self-selected group of those who reject the consensus. We demonstrate that this outcome is not unexpected because the level of consensus correlates with expertise in climate science. At one point, Tol also reduces the apparent consensus by assuming that abstracts that do not explicitly state the cause of global warming (‘no position’) represent non-endorsement, an approach that if applied elsewhere would reject consensus on well-established theories such as plate tectonics. We examine the available studies and conclude that the finding of 97% consensus in published climate research is robust and consistent with other surveys of climate scientists and peer-reviewed studies.

Impact of regulation and supervision on European banks’ stability

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Faten Ben Bouheni

2014-03-01

Full Text Available This article applies the Generalized Method of Moments technique for dynamic panels, using bank-level data for the selected European countries over the period 2005 to 2011, to investigate the impact of regulation and supervision on risk taking. Three conclusions are reached. First, in France, Germany and UK, restriction on bank activities boosts banking stability. However, supervisors’ power and capital adequacy encourage risk taking. Second, in Italy, Greece and Spain, we find that with more supervisors’ power, largest banks tend to take greater risks and strengthening regulation and supervision weakens the bank’s stability. However, the capital requirements decrease the risk taking. Third, strengthening regulatory and supervisory framework, and compliance with Basel principles enhance financial stability in Europe. These different results between European countries show that the application of regulation and supervision depends on the monitoring mode and the rhythm of application of regulatory policies

Stress Testing as a Tool of Bank Risk Management

Directory of Open Access Journals (Sweden)

Antonyuk Oksana I.

2013-12-01

Full Text Available The goal of the article is development of theoretical, methodological and practical recommendations on the use of stress testing by Ukrainian commercial banks. Stress testing is defined as a part of bank risk management on the basis of scientific studies of domestic and foreign scientists. The article marks the essence of the bank stress testing and identifies its role in the structure of banks’ risk management in Ukraine. It considers goals of conducting stress testing in banking institutions. It identifies main aspects and specific features of conducting stress testing of bank risks. It characterises main advantages and shortcomings of use of stress testing in the modern bank risk management. It generalises the world and European approaches to the methods of conducting stress testing in commercial banks in comparison with the Ukrainian methodical recommendations. It shows that results of stress testing have practical value, since they help to preliminary assess influence of potentially negative events upon the state of the loan portfolio of the bank and make relevant managerial decisions.

Adoption of the Objectives of the Monetary and Economic Union and European Financial Integration

Directory of Open Access Journals (Sweden)

MĂDĂLINA RĂDOI

2014-05-01

Full Text Available The European concerns, with old traditions in forming multinational financial markets, developed in the integration of the financial markets and of the European banking systems which allowed the investors from any European country to follow the orders on the best market, through the best beneficiary, benefitting from the most effective financial-banking services. This market offers sophisticated and modern financial tools, which cope with the needs of the invertors, portfolio managers, transnational companies and traders, having an impact over the balanced economic development of the European countries and unemployment reduction.

Mechanical thrombectomy in acute ischemic stroke: Consensus statement by ESO-Karolinska Stroke Update 2014/2015, supported by ESO, ESMINT, ESNR and EAN.

Science.gov (United States)

Wahlgren, Nils; Moreira, Tiago; Michel, Patrik; Steiner, Thorsten; Jansen, Olav; Cognard, Christophe; Mattle, Heinrich P; van Zwam, Wim; Holmin, Staffan; Tatlisumak, Turgut; Petersson, Jesper; Caso, Valeria; Hacke, Werner; Mazighi, Mikael; Arnold, Marcel; Fischer, Urs; Szikora, Istvan; Pierot, Laurent; Fiehler, Jens; Gralla, Jan; Fazekas, Franz; Lees, Kennedy R

2016-01-01

The original version of this consensus statement on mechanical thrombectomy was approved at the European Stroke Organisation (ESO)-Karolinska Stroke Update conference in Stockholm, 16-18 November 2014. The statement has later, during 2015, been updated with new clinical trials data in accordance with a decision made at the conference. Revisions have been made at a face-to-face meeting during the ESO Winter School in Berne in February, through email exchanges and the final version has then been approved by each society. The recommendations are identical to the original version with evidence level upgraded by 20 February 2015 and confirmed by 15 May 2015. The purpose of the ESO-Karolinska Stroke Update meetings is to provide updates on recent stroke therapy research and to discuss how the results may be implemented into clinical routine. Selected topics are discussed at consensus sessions, for which a consensus statement is prepared and discussed by the participants at the meeting. The statements are advisory to the ESO guidelines committee. This consensus statement includes recommendations on mechanical thrombectomy after acute stroke. The statement is supported by ESO, European Society of Minimally Invasive Neurological Therapy (ESMINT), European Society of Neuroradiology (ESNR), and European Academy of Neurology (EAN). © 2016 World Stroke Organization.

Is There a Consensus on Consensus Methodology? Descriptions and Recommendations for Future Consensus Research.

Science.gov (United States)

Waggoner, Jane; Carline, Jan D; Durning, Steven J

2016-05-01

The authors of this article reviewed the methodology of three common consensus methods: nominal group process, consensus development panels, and the Delphi technique. The authors set out to determine how a majority of researchers are conducting these studies, how they are analyzing results, and subsequently the manner in which they are reporting their findings. The authors conclude with a set of guidelines and suggestions designed to aid researchers who choose to use the consensus methodology in their work.Overall, researchers need to describe their inclusion criteria. In addition to this, on the basis of the current literature the authors found that a panel size of 5 to 11 members was most beneficial across all consensus methods described. Lastly, the authors agreed that the statistical analyses done in consensus method studies should be as rigorous as possible and that the predetermined definition of consensus must be included in the ultimate manuscript. More specific recommendations are given for each of the three consensus methods described in the article.

THE ROLE OF COMMERCIAL BANKS FROM ROMANIA IN THE ATTRACTION OF

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Corina BERICA

2011-12-01

Full Text Available In this paper I wish to highlight the position of commercial banks from Romania in the absorption of Europeanfunds. Providing the financial resources necessary in order to carry out the project activities is one of the problems thatmany users have experienced. Being aware of this matter, but also constrained by governmental requirements, mostbanks have decided to introduce such credit facilities as well in their loan portfolio. As far as information disseminationand advertising are concerned, commercial banks have proven to occupy a leading position, but most important are theperformance levels achieved by them since they started accessing these Structural Funds. In this paper I will presentthe funding opportunities in the field of European funds offered by two large leading banks: types of credits, benefits,commissions, statistics and even successful projects to which they are partners. Each bank has its own marketingstrategy to promote these products, but over time one can notice that they are becoming increasingly interested in thesegrants, while the bank personnel is involved as a target group in various European programs. The interest of thebanking system in supporting grants recipients can be noticeable even form the project writing phase of the project,when the banks offer financial advice in determining the estimate budget. With all the help from commercial banks,Romania has managed to achieve a rate of Structural Funds absorption of only 10%, which is outrun even Bulgaria.

Communication in Health Professions: A European consensus on inter- and multi-professional learning objectives in German.

Science.gov (United States)

Bachmann, Cadja; Kiessling, Claudia; Härtl, Anja; Haak, Rainer

2016-01-01

Communication is object of increasing attention in the health professions. Teaching communication competencies should already begin in undergraduate education or pre-registration training. The aim of this project was to translate the Health Professions Core Communication Curriculum (HPCCC), an English catalogue of learning objectives, into German to make its content widely accessible in the German-speaking countries. This catalogue lists 61 educational objectives and was agreed on by 121 international communication experts. A European reference framework for inter- and multi-professional curriculum development for communication in the health professions in German-speaking countries should be provided. The German version of the HPCCC was drafted by six academics and went through multiple revisions until consensus was reached. The learning objectives were paired with appropriate teaching and assessment tools drawn from the database of the teaching Committee of the European Association for Communication Health Care (tEACH). The HPCCC learning objectives are now available in German and can be applied for curriculum planning and development in the different German-speaking health professions, the educational objectives can also be used for inter-professional purposes. Examples for teaching methods and assessment tools are given for using and implementing the objectives. The German version of the HPCCC with learning objectives for communication in health professions can contribute significantly to inter- and multi-professional curriculum development in the health care professions in the German-speaking countries. Examples for teaching methods and assessment tools from the materials compiled by tEACH supplement the curricular content and provide suggestions for practical implementation of the learning objectives in teaching and assessment. The relevance of the German HPCCC to the processes of curriculum development for the various health professions and inter

[Is our approach to thyroid nodules and differentiated thyroid carcinoma in agreement with the American guideline and European consensus?].

Science.gov (United States)

Gómez Sáez, José Manuel

2010-10-01

The aim of this study was to assess the approaches of specialists in Spain to patients with thyroid nodules and differentiated thyroid carcinoma and to compare them with the American guideline and European consensus. We performed a cross-sectional study based on a questionnaire addressed to clinical endocrinologists specialized in thyroid cancer and specialists in nuclear medicine throughout Spain. A total of 177 questionnaires were completed, representing an overall response rate of 85%; 74% of responses were from endocrinologists and 24% from physicians active in nuclear medicine; 82% of respondents worked in third-level hospitals, 10% in second level hospitals and the remainder in private practice. Most used ultrasonography and cytology to assess thyroid nodules and collaborated with a group of surgeons expert in thyroid surgery. The majority preferred total or subtotal thyroidectomy in tumors with a diameter of 1 cm or more, and systematic lymph node dissection. Only 43 (24%) preferred prophylactic central lymph node dissection. Eighty-one respondents (45%) would still use whole body scan with ¹³¹I or ¹²³I before ¹³¹I ablation. Follow-up was based on cervical echography and thyroglobulin determination; however, 101 (57%) respondents continued to use diagnostic whole body scan in the follow-up. The approaches of the respondents were mainly in accordance with the guideline and consensus, although some variations were found, especially in the use of whole body scan with ¹³¹I before ablation and in follow-up. Copyright © 2010 SEEN. Published by Elsevier Espana. All rights reserved.

Central bank independence and public debt policy

NARCIS (Netherlands)

Beetsma, R.M.W.J.; Bovenberg, A.L.

1997-01-01

The various proposals for the institutional design of the European Monetary Union have drawn fresh attention to the link between monetary and public debt policies. This paper explores the strategic interaction between fiscal authorities setting public debt and the central bank controlling monetary

Evidence- and consensus-based (S3) Guidelines for the Treatment of Actinic Keratosis - International League of Dermatological Societies in cooperation with the European Dermatology Forum - Short version.

Science.gov (United States)

Werner, R N; Stockfleth, E; Connolly, S M; Correia, O; Erdmann, R; Foley, P; Gupta, A K; Jacobs, A; Kerl, H; Lim, H W; Martin, G; Paquet, M; Pariser, D M; Rosumeck, S; Röwert-Huber, H-J; Sahota, A; Sangueza, O P; Shumack, S; Sporbeck, B; Swanson, N A; Torezan, L; Nast, A

2015-11-01

Actinic keratosis (AK) is a frequent health condition attributable to chronic exposure to ultraviolet radiation. Several treatment options are available and evidence based guidelines are missing. The goal of these evidence- and consensus-based guidelines was the development of treatment recommendations appropriate for different subgroups of patients presenting with AK. A secondary aim of these guidelines was the implementation of knowledge relating to the clinical background of AK, including consensus-based recommendations for the histopathological definition, diagnosis and the assessment of patients. The guidelines development followed a pre-defined and structured process. For the underlying systematic literature review of interventions for AK, the methodology suggested by the Cochrane Handbook for Systematic Reviews of Interventions, the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) statement and Grading of Recommendations Assessment, Development and Evaluation (GRADE) methodology was adapted. All recommendations were consented during a consensus conference using a formal consensus methodology. Strength of recommendations was expressed based on the GRADE approach. If expert opinion without external evidence was incorporated into the reasoning for making a certain recommendation, the rationale was provided. The Guidelines underwent open public review and approval by the commissioning societies. Various interventions for the treatment of AK have been assessed for their efficacy. The consenting procedure led to a treatment algorithm as shown in the guidelines document. Based on expert consensus, the present guidelines present recommendations on the classification of patients, diagnosis and histopathological definition of AK. Details on the methods and results of the systematic literature review and guideline development process have been published separately. International guidelines are intended to be adapted to national or regional

Paving the road for a European postgraduate training curriculum

NARCIS (Netherlands)

van der Aa, Jessica E; Goverde, Angelique J; Teunissen, Pim W; Scheele, Fedde

The 'Project for Achieving Consensus in Training' has been initiated by the European Board & College of Obstetrics and Gynaecology to harmonise training in Obstetrics and Gynaecology throughout Europe. In this project called the EBCOG-PACT, a state of the art pan-European training curriculum will be

Islamic Credit Risk Analysis Case Of Sudanese Banking Sector 2006-2014

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Mohammed A. SirElkhatim

2017-06-01

Full Text Available Islamic banking system has been expanding so quickly over the past few years. Moreover it has been developing significantly around the non-Muslim territories including Middle Eastern countries Southeast Asian countries and European countries and even in North American countries. The existing of Islamic banks is to attract the customers who seek to avoid interest. The prediction of corporate bankruptcies is an Important and widely studied topic since it can have significant impact on bank lending decisions and profitability the ultimate purpose of credit risk management is to ensure that credit fund is of safety profitability and fluidity. At present it is extremely important of commercial banks to set up an early bank risk warning system.

Banking Union- Present Stage and its Perspectives

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Petre Prisecaru

2014-05-01

Full Text Available Banking Union is very important for financial stability of EU, for preventing any future crisis, for improving corporate governance in the banking sector, for completing the single market for financial services and for the strengthening of monetary union, for opening the way to fiscal union and to political union. There is not enough theoretical research in the field of banking union, but there are many recent contributions on behalf of foreign and Romanian experts and analysts, which refer mainly to the three components/pillars of EU banking union: a Single Supervision Mechanism (SSM, a Single Resolution Mechanism (SRM and an harmonized system of deposit guarantee schemes. Some micro studies and surveys carried out by prestigious institutions, like Deutsche Bank, Brookings Institution, CEPS have been run over and analyzed together with the positions and opinions of different European officials, and also with the content of EU secondary legislation. An empirical research was made with the aim to identify all essential aspects relating to EU banking union, which may concern the academics, researchers and business community. The paper is based on a previous research study coordinated by author and contains his own conclusions focused on the main arguments in favour of banking union.

Methods for Health Economic Evaluation of Vaccines and Immunization Decision Frameworks: A Consensus Framework from a European Vaccine Economics Community.

Science.gov (United States)

Ultsch, Bernhard; Damm, Oliver; Beutels, Philippe; Bilcke, Joke; Brüggenjürgen, Bernd; Gerber-Grote, Andreas; Greiner, Wolfgang; Hanquet, Germaine; Hutubessy, Raymond; Jit, Mark; Knol, Mirjam; von Kries, Rüdiger; Kuhlmann, Alexander; Levy-Bruhl, Daniel; Perleth, Matthias; Postma, Maarten; Salo, Heini; Siebert, Uwe; Wasem, Jürgen; Wichmann, Ole

2016-03-01

Incremental cost-effectiveness and cost-utility analyses [health economic evaluations (HEEs)] of vaccines are routinely considered in decision making on immunization in various industrialized countries. While guidelines advocating more standardization of such HEEs (mainly for curative drugs) exist, several immunization-specific aspects (e.g. indirect effects or discounting approach) are still a subject of debate within the scientific community. The objective of this study was to develop a consensus framework for HEEs of vaccines to support the development of national guidelines in Europe. A systematic literature review was conducted to identify prevailing issues related to HEEs of vaccines. Furthermore, European experts in the field of health economics and immunization decision making were nominated and asked to select relevant aspects for discussion. Based on this, a workshop was held with these experts. Aspects on 'mathematical modelling', 'health economics' and 'decision making' were debated in group-work sessions (GWS) to formulate recommendations and/or--if applicable--to state 'pros' and 'contras'. A total of 13 different aspects were identified for modelling and HEE: model selection, time horizon of models, natural disease history, measures of vaccine-induced protection, duration of vaccine-induced protection, indirect effects apart from herd protection, target population, model calibration and validation, handling uncertainty, discounting, health-related quality of life, cost components, and perspectives. For decision making, there were four aspects regarding the purpose and the integration of HEEs of vaccines in decision making as well as the variation of parameters within uncertainty analyses and the reporting of results from HEEs. For each aspect, background information and an expert consensus were formulated. There was consensus that when HEEs are used to prioritize healthcare funding, this should be done in a consistent way across all interventions

The European reliability data system. An organized information exchange on the operation of European nuclear reactors

International Nuclear Information System (INIS)

Mancini, G.; Amesz, J.; Bastianini, P.; Capobianchi, S.

1983-01-01

The paper revises the aims and objectives of the European Reliability Data System (ERDS), a centralized system collecting and organizing, at European level, information related to the operation of LWRs. The ERDS project was started in 1977 and after a preliminary feasibility study that ended in 1979 is now proceeding towards the final design and implementation stages. ERDS exploits information collected in national data systems and information deriving from single reactor sources. The paper describes first the development of the four data banks constituting the system: Component Event Data Bank, CEDB; Abnormal Occurrences Reporting System, AORS; Operating Unit Status Report, OUSR; and Generic Reliability Parameter Data Bank, GRPDB. Several typical aspects concerning the project are then outlined from the need of homogeneization of data and therefore the need for setting up reference classifications, to the problem of data transcoding and input into the system. Furthermore, the need is stressed of involving much more deeply nuclear power plant operators into the process of data acquisition by providing them with a useful feedback from the data analysis. (author)

European financial support and succesful road PPP Projects

Energy Technology Data Exchange (ETDEWEB)

Garrido Maza, G.

2016-07-01

The EU has been promoting the use of PPPs in order to accelerate the development of the Trans-European Transport Network (TEN-T) for ensuring economic, social and territorial cohesion and increasing accessibility throughout the Union. To encourage the use of PPPs, the European Commission has put several financing mechanisms at the disposal of the Member States, including a series of innovative financial instruments developed along with the European Investment Bank. The Bank has in turn played a major role in the promotion and financing of PPPs across the EU. The paper undertakes a review of the main financial instruments developed by the EU that are available to PPPs so as to determinate to what extent the European financial support has been channelled to road projects under that scheme in Spain. On the basis of the results obtained, a multiple regression model has been developed to analyse whether the PPP projects which enjoyed the financial support of the European Union tend to be significantly more successful from an economic point of view. The paper concludes that there is a positive correlation between receiving European financial support and the success of the PPP road projects. (Author)

Deregulation of the European Banking Industry (1980-1991)

OpenAIRE

Gual, Jordi; Neven, Damien J

1992-01-01

In this paper the experience of deregulation in the banking sector of seven EC countries (Belgium, France, Germany, Italy, the Netherlands, Spain and the UK) is analysed. Lessons are drawn for assessment of how the EC directives affecting this sector could further affect the industry. Our findings broadly confirm intuition: there is some evidence that firms in protected markets earn large rents, which are partly dissipated in excessive costs and captured by workers. Conduct deregulation seems...

CROSS-COUNTRY STUDY ON THE DETERMINANTS OF BANK FINANCIAL DISTRESS

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Zhen-Jia-Liu

2015-08-01

Full Text Available Bank failures affect owners, employees, and customers, possibly causing large-scale economic distress. Thus, banks must evaluate operational risks and develop early warning systems. This study investigates bank failures in the Organization for Economic Co-operation and Development, the North America Free Trade Area (NAFTA, the Association of Southeast Asian Nations, the European Union, newly industrialized countries, the G20, and the G8. We use financial ratios to analyze and explore the appropriateness of prediction models. Results show that capital ratios, interest income compared to interest expenses, non-interest income compared to non-interest expenses, return on equity, and provisions for loan losses have significantly negative correlations with bank failure. However, loan ratios, non-performing loans, and fixed assets all have significantly positive correlations with bank failure. In addition, the accuracy of the logistic model for banks from NAFTA countries provides the best prediction accuracy regarding bank failure

Endodontic retreatment decisions: no consensus.

Science.gov (United States)

Aryanpour, S; Van Nieuwenhuysen, J P; D'Hoore, W

2000-05-01

The objectives of the present study were to: (i) evaluate the consensus, if any, amongst dental schools, students and their instructors managing the same clinical cases, all of which involved endodontically treated teeth; and (ii) determine the predominant proposed treatment option. Final year students, endodontic staff members and instructors of 10 European dental schools were surveyed as decision makers. Fourteen different radiographic cases of root canal treated teeth accompanied by a short clinical history were presented to them in a uniform format. For each case the decision makers were requested to: (i) choose only one out of nine treatment alternatives proposed, from 'no treatment' to 'extraction' via 'retreatment' and 'surgery' (ii) assess on two 5-point scales: the difficulty of making a decision, and the technical complexity of the retreatment procedure. The results indicate wide inter- and also intra-school disagreements in the clinical management of root canal treated teeth. Analysis of variance showed that the main source of variation was the 'school effect', explaining 1.8% (NS) to 18.6% (P < 0.0001) of the treatment variations. No other factor explained as much variance. Decision difficulty was moderately correlated to technical complexity (Pearsons' r ranging from 0.19 to 0.35, P < 0.0001). No clear consensus occurred amongst and within dental schools concerning the clinical management of the 14 cases. The lack of consensus amongst schools seems to be due mainly to chance or uncertainty, but can be partly explained by the 'school effect'.

ARCHITECTURE OF EUROPEAN SYSTEM OF FINANCIAL SUPERVISION AFTER THE GLOBAL ECONOMIC CRISIS

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Mateusz Muszyński

2015-12-01

Full Text Available This paper indicates how the last global financial crisis has affected the european financial system. As the depression evolved it brought all the weaknesses in the system of financial supervision to the surface. Then it became clear that deeper integration of the banking system was strongly needed. To mitigate systemic stability risk and improve the coordination process with international organizations, the European Commission decided to establish the European System of Financial Supervision. However, it seemed that it was not sufficient to prevent from further fragmentation of the financial market in Europe. As a result, in 2012 the European Commission initiated the banking union, a new form of political and economic integration.

Feasibility study for the European Reliability Data System (ERDS)

International Nuclear Information System (INIS)

Mancini, G.

1980-01-01

In the framework of the Reactor Safety Programme of the Commission of the European Communities, the JRC - Ispra Establishment has performed a feasibility study for an integrated European Reliability Data System, the aim of which is the collection and organization of information related to the operation of LWRs with regard to component and systems behaviour, abnormal occurrences, outages, etc. Component Event Data Bank (CEGB), Abnormal Occurrences Reporting System, Generic Reliability Parameter Data Bank, Operating Unit Status Reports and the main activities carried out during the last two years are described. The most important achievements are briefly reported, such as: Reference Classification for Systems, Components and Failure Events, Informatic Structure of the Pilot Experiment of the CEDB, Information Retrieval System for Abnormal Occurrences Reports, Data Bank on Component Reliability Parameters, System on the Exchange of Operation Experience of LWRs, Statistical Data Treatment. Finally, the general conclusions of the feasibility study are summarized: the possibility and the usefulness for the creation of an integrated European Reliability Data System are outlined. (author)

[Ethical aspects of human embryonic stem cell use and commercial umbilical cord blood stem cell banking. Ethical reflections on the occasion of the regulation of the European Council and Parliament on advanced therapy medicinal products].

Science.gov (United States)

Virt, G

2010-01-01

The regulation of the European Council and Parliament on advanced therapy medicinal products also includes therapies with human embryonic stem cells. The use of these stem cells is controversially and heavily discussed. Contrary to the use of adult stem cells, medical and ethical problems concerning the use of human embryonic stem cells persists, because this use is based on the destruction of human life at the very beginning. The regulation foresees, therefore, subsidiarity within the European Member States. Although there are no ethical problems in principle with the use of stem cells from the umbilical cord blood, there are social ethical doubts with the banking of these stem cells for autologous use without any currently foreseeable medical advantage by commercial blood banks. Also in this case subsidiarity is valid.

Will MyBank lead to more cross-border e-commerce in the EU?

NARCIS (Netherlands)

Weltevreden, Jesse

2013-01-01

The launch of MyBank – the EU wide online payment system that provides consumers the possibility to make payments for goods and services in other EU countries via their own online banking environment – may give a boost to cross-border e-commerce within the European Union.

Usefulness of FC-TRIPLEX Chagas/Leish IgG1 as confirmatory assay for non-negative results in blood bank screening of Chagas disease.

Science.gov (United States)

Campos, Fernanda Magalhães Freire; Repoles, Laura Cotta; de Araújo, Fernanda Fortes; Peruhype-Magalhães, Vanessa; Xavier, Marcelo Antônio Pascoal; Sabino, Ester Cerdeira; de Freitas Carneiro Proietti, Anna Bárbara; Andrade, Mariléia Chaves; Teixeira-Carvalho, Andréa; Martins-Filho, Olindo Assis; Gontijo, Célia Maria Ferreira

2018-04-01

A relevant issue in Chagas disease serological diagnosis regards the requirement of using several confirmatory methods to elucidate the status of non-negative results from blood bank screening. The development of a single reliable method may potentially contribute to distinguish true and false positive results. Our aim was to evaluate the performance of the multiplexed flow-cytometry anti-T. cruzi/Leishmania IgG1 serology/(FC-TRIPLEX Chagas/Leish IgG1) with three conventional confirmatory criteria (ELISA-EIA, Immunofluorescence assay-IIF and EIA/IIF consensus criterion) to define the final status of samples with actual/previous non-negative results during anti-T. cruzi ELISA-screening in blood banks. Apart from inconclusive results, the FC-TRIPLEX presented a weak agreement index with EIA, while a strong agreement was observed when either IIF or EIA/IIF consensus criteria were applied. Discriminant analysis and Spearman's correlation further corroborates the agreement scores. ROC curve analysis showed that FC-TRIPLEX performance indexes were higher when IIF and EIA/IIF consensus were used as a confirmatory criterion. Logistic regression analysis further demonstrated that the probability of FC-TRIPLEX to yield positive results was higher for inconclusive results from IIF and EIA/IIF consensus. Machine learning tools illustrated the high level of categorical agreement between FC-TRIPLEX versus IIF or EIA/IIF consensus. Together, these findings demonstrated the usefulness of FC-TRIPLEX as a tool to elucidate the status of non-negative results in blood bank screening of Chagas disease. Copyright © 2018. Published by Elsevier B.V.

Impact of the NIRP on the European Banks’ Profitability: Empirical Analysis of Three Business Models

OpenAIRE

De Crom, Nicolas

2017-01-01

Since the great financial crisis, the European Central Bank has designed several accommodative monetary policies to revive the European economy and reach its inflation target. Among those, the negative interest rates have created shockwaves in the financial world. In this master thesis, we aim to assess if the negative interest rate policy has undermined the profitability of European financial institutions and banks residing in Sweden and Denmark. To do so, we have gathered the annual financi...

The Nordea Bank Denmark Case (C-48/13

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Laursen Anders Nørgaard

2014-11-01

Full Text Available This paper reports on an investigation of a recent decision by the European Court of Justice (ECJ in case C-48/13, Nordea Bank Denmark, concerning the Danish rules for reincorporation of losses from permanent establishments situated in European Union/ European Economic Area (EU/EEA member states other than Denmark. The article includes comments on various EU tax law aspects of the case - namely the restriction test applied by the ECJ, the justifications brought forward by the intervening governments and the question of proportionality - and examines the consequences of the Danish tax law going forward.

EURECCA colorectal: multidisciplinary management: European consensus conference colon & rectum

NARCIS (Netherlands)

van de Velde, Cornelis J. H.; Boelens, Petra G.; Borras, Josep M.; Coebergh, Jan-Willem; Cervantes, Andres; Blomqvist, Lennart; Beets-Tan, Regina G. H.; van den Broek, Colette B. M.; Brown, Gina; van Cutsem, Eric; Espin, Eloy; Haustermans, Karin; Glimelius, Bengt; Iversen, Lene H.; van Krieken, J. Han; Marijnen, Corrie A. M.; Henning, Geoffrey; Gore-Booth, Jola; Meldolesi, Elisa; Mroczkowski, Pawel; Nagtegaal, Iris; Naredi, Peter; Ortiz, Hector; Påhlman, Lars; Quirke, Philip; Rödel, Claus; Roth, Arnaud; Rutten, Harm; Schmoll, Hans J.; Smith, Jason J.; Tanis, Pieter J.; Taylor, Claire; Wibe, Arne; Wiggers, Theo; Gambacorta, Maria A.; Aristei, Cynthia; Valentini, Vincenzo

2014-01-01

Care for patients with colon and rectal cancer has improved in the last 20years; however considerable variation still exists in cancer management and outcome between European countries. Large variation is also apparent between national guidelines and patterns of cancer care in Europe. Therefore,

Comprehensive risk reduction in patients with atrial fibrillation: emerging diagnostic and therapeutic options--a report from the 3rd Atrial Fibrillation Competence NETwork/European Heart Rhythm Association consensus conference

DEFF Research Database (Denmark)

Kirchhof, Paulus; Lip, Gregory Y H; Van Gelder, Isabelle C

2012-01-01

While management of atrial fibrillation (AF) patients is improved by guideline-conform application of anticoagulant therapy, rate control, rhythm control, and therapy of accompanying heart disease, the morbidity and mortality associated with AF remain unacceptably high. This paper describes...... the proceedings of the 3rd Atrial Fibrillation NETwork (AFNET)/European Heart Rhythm Association (EHRA) consensus conference that convened over 60 scientists and representatives from industry to jointly discuss emerging therapeutic and diagnostic improvements to achieve better management of AF patients. The paper...

Competition versus Efficiency: What Drives Banks’ Spreads in Italian Banking System?

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Luca Giordano

2015-06-01

Full Text Available Economists have long debated the relationships between market structure of banking sector and the profitability. General consensus asserts that more concentrated market is associated with higher profitability: banks with higher market share generally achieve higher profits. This empirical evidence can however hinge on two opposite explanations: in the first case banks increase their market share (via mergers and acquisitions in order to exploit the resulting stronger market power and impose higher prices to their clients; the second explanation tells that more cost-efficient banks are able to lower the prices applied to their clients and therefore to gain new clients and finally enlarge their market share. In both cases there is a positive link between market share and profitability, but in the former what actually plays a crucial role is a non-competitive force (Relative Market Power Hypothesis, henceforth RMP, in the latter the relationship is driven by the greater efficiency of banks which enlarge their market share by reducing prices (X-Efficiency Hypothesis, ESX. We run a 4-years panel data analysis (2008-2011 in order to disentangle the above alternatives hypothesis (RMP versus ESX for the Italian market. First we estimate the cost efficiency for a sample of more than 200 banks by applying the Stochastic Frontier Analysis (SFA. In the second step we regress bank spreads on efficiency scores and market structure variables in order to identify which process leads the price setting of Italian banks. Difference in the legal organization of bank (mutual, cooperative, and commercial banks and type of business relationships established are controlled for.

Monitoring the Quality of Services in Electronic Banking

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Jovovic Radislav

2016-09-01

Full Text Available Successful development of electronic banking is in direct correlation with the quality of services in electronic banking. Therefore, it is necessary that the banks are familiar with the attributes of electronic services on which clients assess the bank’s quality and client’s satisfaction with them, in order to be able to monitor, correct and improve the performance of electronic banking. We start from the hypothesis that there are already developed theoretical models for measuring the quality of e-banking services but they must be adjusted to the specific environment that is analysed in order to obtain reliable and quality information. The qualitative and quantitative research methods are applied in this paper in order to a get adjusted theoretical model (instrument for measuring the quality of electronic banking services. As a result of the conducted analysis, the initial theoretical model has been modified, so that the final version of the model (instrument for measuring quality of online banking allows obtaining reliable data, and information in the particular environment. And the results are: significant information about the quality of e-banking, modified theoretical model, information about the dimensions of quality of e-banking, customer satisfaction, and pathways and guidelines for the improvement of e-banking. The measuring of quality of electronic banking services in not one time activity but repeated one, as permanent monitoring strategy. This research is widely applicable even though it was conducted in the context of Montenegrin e-banking, since most of the banks in Montenegro are owned by well-known European banks, and it is expected that the obtained knowledge and information can be generalized.

Assessing excellence in translational cancer research: a consensus based framework.

Science.gov (United States)

Rajan, Abinaya; Caldas, Carlos; van Luenen, Henri; Saghatchian, Mahasti; van Harten, Wim H

2013-10-29

It takes several years on average to translate basic research findings into clinical research and eventually deliver patient benefits. An expert-based excellence assessment can help improve this process by: identifying high performing Comprehensive Cancer Centres; best practices in translational cancer research; improving the quality and efficiency of the translational cancer research process. This can help build networks of excellent Centres by aiding focused partnerships. In this paper we report on a consensus building exercise that was undertaken to construct an excellence assessment framework for translational cancer research in Europe. We used mixed methods to reach consensus: a systematic review of existing translational research models critically appraised for suitability in performance assessment of Cancer Centres; a survey among European stakeholders (researchers, clinicians, patient representatives and managers) to score a list of potential excellence criteria, a focus group with selected representatives of survey participants to review and rescore the excellence criteria; an expert group meeting to refine the list; an open validation round with stakeholders and a critical review of the emerging framework by an independent body: a committee formed by the European Academy of Cancer Sciences. The resulting excellence assessment framework has 18 criteria categorized in 6 themes. Each criterion has a number of questions/sub-criteria. Stakeholders favoured using qualitative excellence criteria to evaluate the translational research "process" rather than quantitative criteria or judging only the outputs. Examples of criteria include checking if the Centre has mechanisms that can be rated as excellent for: involvement of basic researchers and clinicians in translational research (quality of supervision and incentives provided to clinicians to do a PhD in translational research) and well designed clinical trials based on ground-breaking concepts (innovative

The A, B and C v. Ireland ruling and the issue of abortion: a “new departure” in the European Court of Human Rights case-law in matters of consensus and domestic margin of appreciation?

Directory of Open Access Journals (Sweden)

Francisco Javier Mena Parras

2012-07-01

Full Text Available This article analyzes the case of A, B and C v. Ireland in which the plaintiffs claimed that the Irish laws on abortion are incompatible with the European Convention on  Human Rights. The article deals specifically with the parts of the ruling handed down by the European Court of Human Rights that cover the role of European consensus in the establishment of the margin of appreciation that is given to states in the  restriction of rights recognized by the Convention. The article argues that this ruling is a “new departure” in the case-law of the Strasbourg Court and points out some of the negative consequences that this entails, from a perspective that is critical of the Court’s reasoning.

European Society of Anaesthesiology evidence-based and consensus-based guideline on postoperative delirium

DEFF Research Database (Denmark)

Aldecoa, César; Bettelli, Gabriella; Bilotta, Federico

2017-01-01

The purpose of this guideline is to present evidence-based and consensus-based recommendations for the prevention and treatment of postoperative delirium. The cornerstones of the guideline are the preoperative identification and handling of patients at risk, adequate intraoperative care, postoper...

European Society of Anaesthesiology evidence-based and consensus-based guideline on postoperative delirium

NARCIS (Netherlands)

Aldecoa, César; Bettelli, Gabriella; Bilotta, Federico; Sanders, Robert D.; Audisio, Riccardo; Borozdina, Anastasia; Cherubini, Antonio; Jones, Christina; Kehlet, Henrik; Maclullich, Alasdair; Radtke, Finn; Riese, Florian; Slooter, Arjen J C; Veyckemans, Francis; Kramer, Sylvia; Neuner, Bruno; Weiss, Bjoern; Spies, Claudia D.

2017-01-01

The purpose of this guideline is to present evidence-based and consensus-based recommendations for the prevention and treatment of postoperative delirium. The cornerstones of the guideline are the preoperative identification and handling of patients at risk, adequate intraoperative care,

KEWAJIBAN BANK SYARIAH TERHADAP NASABAH PENYIMPAN DANA AKIBAT INGKAR JANJI MITRA

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Sisca Ferawati Burhanuddin

2016-07-01

Full Text Available Islamic Banking is a financial institution using the system for results in return. In shahibul maal of financing that invest capital and mudharib provide capacity and reputation to run the business and share in the results that, if there is a loss shahibul maal will lose their money, and the party will lose his labor mudharib in running the business. The Islamic banks as intermediaries for the parties should be neutral, fair, trustworthy, and responsible in terms of this cooperation. Method is a normative juridical approach namely legal research focuses on the study of secondary data. To strengthen in order to complement the analysis of secondary data, conducted field research to obtain primary data through interviews. Efforts are being made if there is a legal relationship three parties namely shahibul maal, Islamic banks, mudharib have indications of a loss is not limited to oversight, but the process of consensus, and Alternative Dispute Resolution (ADR to achieve the objectives of cooperation in terms of rescue funds shahibul maal and business activities mudharib , Accountability Islamic Bank is the responsibility of the owner of the normative means in terms of funds requested mudharabah bank to channel funds directly to the business partners, the bank responsible for the extent of liability than the Islamic bank that is in the implementation of business partner management. While the moral responsibility must integrate moral values with economic measures based on sharia. Keywords: Responsibilities, Bank, Sharia, Default.

Clinical practice guidelines and consensus statements in oncology--an assessment of their methodological quality.

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Carmel Jacobs

Full Text Available Consensus statements and clinical practice guidelines are widely available for enhancing the care of cancer patients. Despite subtle differences in their definition and purpose, these terms are often used interchangeably. We systematically assessed the methodological quality of consensus statements and clinical practice guidelines published in three commonly read, geographically diverse, cancer-specific journals. Methods Consensus statements and clinical practice guidelines published between January 2005 and September 2013 in Current Oncology, European Journal of Cancer and Journal of Clinical Oncology were evaluated. Each publication was assessed using the Appraisal of Guidelines for Research and Evaluation II (AGREE II rigour of development and editorial independence domains. For assessment of transparency of document development, 7 additional items were taken from the Institute of Medicine's standards for practice guidelines and the Journal of Clinical Oncology guidelines for authors of guidance documents.Consensus statements and clinical practice guidelines published between January 2005 and September 2013 in Current Oncology, European Journal of Cancer and Journal of Clinical Oncology were evaluated. Each publication was assessed using the Appraisal of Guidelines for Research and Evaluation II (AGREE II rigour of development and editorial independence domains. For assessment of transparency of document development, 7 additional items were taken from the Institute of Medicine's standards for practice guidelines and the Journal of Clinical Oncology guidelines for authors of guidance documents.Thirty-four consensus statements and 67 clinical practice guidelines were evaluated. The rigour of development score for consensus statements over the three journals was 32% lower than that of clinical practice guidelines. The editorial independence score was 15% lower for consensus statements than clinical practice guidelines. One journal scored

European Union's environmental strategy

International Nuclear Information System (INIS)

Fitoussi, Jean-Paul; Laurent, Eloi; Le Cacheux, Jacques

2007-01-01

Environmental policy is an art of execution. Hence the fact that European Union member states have recently managed to agree on targets of emissions to fight climate change leaves open the question of how they will meet them. Economics cannot but embrace the scientific consensus on climate change and cannot say much about the efficiency of alternative technologies. Yet, its expertise is valuable to calculate economic effects and fairness of policies and to assess the relevance of incentives structures and effectiveness of institutions put into place to convert scientific consensus into action. This article is concerned with this latter point: does the EU have the right institutions to fight climate change? We claim that such is not the case, and offer to institute a 'European Community of Environment, Energy and Research' to go forward. Initially published in 'Revue de l'OFCE' No. 102

Defining the Key Competencies in Radiation Protection for Endovascular Procedures: A Multispecialty Delphi Consensus Study.

Science.gov (United States)

Doyen, Bart; Maurel, Blandine; Cole, Jonathan; Maertens, Heidi; Mastracci, Tara; Van Herzeele, Isabelle

2018-02-01

Radiation protection training courses currently focus on broad knowledge topics which may not always be relevant in daily practice. The goal of this study was to determine the key competencies in radiation protection that every endovascular team member should possess and apply routinely, through multispecialty clinical content expert consensus. Consensus was obtained through a two round modified Delphi methodology. The expert panel consisted of European vascular surgeons, interventional radiologists, and interventional cardiologists/angiologists experienced in endovascular procedures. An initial list of statements, covering knowledge skills, technical skills and attitudes was created, based on a literature search. Additional statements could be suggested by the experts in the first Delphi round. Each of the statements had to be rated on a 5- point Likert scale. A statement was considered to be a key competency when the internal consistency was greater than alpha = 0.80 and at least 80% of the experts agreed (rating 4/5) or strongly agreed (rating 5/5) with the statement. Questionnaires were emailed to panel members using the Surveymonkey service. Forty-one of 65 (63.1%) invited experts agreed to participate in the study. The response rates were 36 out of 41 (87.8%): overall 38 out of 41(92.6%) in the first round and 36 out of 38 (94.7%) in the second round. The 71 primary statements were supplemented with nine items suggested by the panel. The results showed excellent consensus among responders (Cronbach's alpha = 0.937 first round; 0.958 s round). Experts achieved a consensus that 30 of 33 knowledge skills (90.9%), 23 of 27 technical skills (82.1%), and 15 of 20 attitudes (75.0%) should be considered as key competencies. A multispecialty European endovascular expert panel reached consensus about the key competencies in radiation protection. These results may serve to create practical and relevant radiation protection training courses in the future, enhancing

Money supply growth and inflation – the monetary policy strategy of the European Central Bank

Directory of Open Access Journals (Sweden)

Svatopluk Kapounek

2007-01-01

Full Text Available The main aim of this article is to find out whether there is a significant relationship between money supply growth and inflation in the Eurozone. For this reason, the monetary policy strategy of the European Central Bank (ECB has been evaluated. Since the establishment of the ECB in January 1999 to May 2003 the ECB‘s monetary policy strategy consisted of three main elements: a quantitative definition of price stability, a prominent role for money in the assessment of risks to price stability (aggregate M3 as a reference value, and a broadly based assessment of the outlook for price developments. Nevertheless, since May 2003 M3 or any other monetary aggregate has lost its prominent role in the ECB‘s strategy. Therefore the nowadays ECB‘s monetary policy strategy consists of a quantitative definition of the primary objective of price stability and an analytical framework based on two pillars – economic analysis and monetary analysis. These two pillars are used by the ECB‘s Governing Council in the overall assessment of risks to price stability and in monetary policy decisions.The empirical part of this article is based on time series correlation between money supply growth and inflation in selected member countries of the Economic and Monetary Union (EMU - Eurozone during the period 1995–2005. The time series are divided into two parts. The first part covers data for selected member countries of the European Union from 1995 till 1998, i.e. before the establishment of the EMU. Whereas the second part includes data for the whole Eurozone since its official start in 1999 to 2005. The time series are adjusted by SARIMA models.

JURIDICAL AND ECONOMIC ANALYSIS OF THE CORPORATE SOCIAL RESPONSIBILITY IN THE BANKING MANAGEMENT FROM ROMANIA

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Muresan (Potincu Laura

2015-07-01

Full Text Available At present, the corporate social responsibility must be regarded from a complex perspective. We consider that the social responsibility of the banks is what the community expects from a bank ecologically, economically, juridically, ethically, and philanthropically. Thus, the banking corporate social responsibility includes all these types of responsibilities: the ecological responsibility, the economic responsibility, the juridical responsibility, the ethical responsibility, and the philanthropic responsibility. Combining the juridical analysis with the marketing research, this work aims at the actual compliance with the corporate social responsibility by the banks from Romania, an European Union member state. The juridical regulations adopted mid 2013 at the European Union level bring a new approach to the relation between the most important categories of stakeholders – consumers and employees – and the bank by means of actual juridical specifications regarding the banking management. Presenting the most important provisions of Directive 2013/36/UE of the European Parliament and Council regarding the access to the activity of the credit institutions and prudential supervision of the credit institutions and investment companies, and of Regulation no. 575/2013 of the European Parliament and Council regarding the prudential requirements for the credit institutions and investment companies, in relation to the corporate social responsibility aspects offers an interesting image of the evolution of the legislative aspects regulating the banking management. One can note, in practice, the assimilation by the banks of the corporate social responsibility only with its philanthropic component, ignoring the most important elements of the social responsibility: the juridical responsibility, the ethical responsibility, or the economic responsibility. This work shows results of a quantitative marketing research which has been performed in Bra

A modified Delphi study to determine the level of consensus across the European Union on the structures, processes and desired outcomes of the management of polypharmacy in older people.

Directory of Open Access Journals (Sweden)

Derek Stewart

Full Text Available Inappropriate use of multiple medicines (inappropriate polypharmacy is a major challenge in older people with consequences of increased prevalence and severity of adverse drug reactions and interactions, and reduced medicines adherence. The aim of this study was to determine the levels of consensus amongst key stakeholders in the European Union (EU in relation to aspects of the management of polypharmacy in older people.Forty-six statements were developed on aspects of healthcare structures, processes and desired outcomes, with consensus defined at ≥ 80% agreement. Panel members were strategists (e.g. directors, leading clinicians and commissioners from each of the 28 EU member states, with a target recruitment of five per member state. Three Delphi rounds were conducted via email, with panel members being provided with summative results and collated, anonymised comments at the commencement of Rounds 2 and 3.Ninety panel members were recruited (64.3% of target, with high participation levels throughout the three Delphi rounds (91.1%, 83.3%, 72.2%. During Round 1, consensus was obtained for 27/46 statements (58.7%, with an additional two statements in Round 2 and none in Round 3. Consensus was obtained for statements relating to: potential gain arising from polypharmacy management (3/4 statements; strategic development (7/7; change management (5/7 indicator measures (4/6; legislation (0/3; awareness raising (5/5; polypharmacy reviews (5/7; and EU vision (0/7. Analysis of free text comments indicated that the vision statements were too ambitious and not achievable by the specified timeframe of 2025.Consensus was obtained amongst key EU strategists around many aspects of polypharmacy management in older people. Notably, no consensus was achieved in relation to statements relating to the need to alter legislation in areas of healthcare delivery, remuneration and practitioner scope of practice. While the vision for the EU by 2025 was considered

A modified Delphi study to determine the level of consensus across the European Union on the structures, processes and desired outcomes of the management of polypharmacy in older people.

Science.gov (United States)

Stewart, Derek; Gibson-Smith, Kathrine; MacLure, Katie; Mair, Alpana; Alonso, Albert; Codina, Carles; Cittadini, Antonio; Fernandez-Llimos, Fernando; Fleming, Glenda; Gennimata, Dimitra; Gillespie, Ulrika; Harrison, Cathy; Junius-Walker, Ulrike; Kardas, Przemysław; Kempen, Thomas; Kinnear, Moira; Lewek, Pawel; Malva, Joao; McIntosh, Jennifer; Scullin, Claire; Wiese, Birgitt

2017-01-01

Inappropriate use of multiple medicines (inappropriate polypharmacy) is a major challenge in older people with consequences of increased prevalence and severity of adverse drug reactions and interactions, and reduced medicines adherence. The aim of this study was to determine the levels of consensus amongst key stakeholders in the European Union (EU) in relation to aspects of the management of polypharmacy in older people. Forty-six statements were developed on aspects of healthcare structures, processes and desired outcomes, with consensus defined at ≥ 80% agreement. Panel members were strategists (e.g. directors, leading clinicians and commissioners) from each of the 28 EU member states, with a target recruitment of five per member state. Three Delphi rounds were conducted via email, with panel members being provided with summative results and collated, anonymised comments at the commencement of Rounds 2 and 3. Ninety panel members were recruited (64.3% of target), with high participation levels throughout the three Delphi rounds (91.1%, 83.3%, 72.2%). During Round 1, consensus was obtained for 27/46 statements (58.7%), with an additional two statements in Round 2 and none in Round 3. Consensus was obtained for statements relating to: potential gain arising from polypharmacy management (3/4 statements); strategic development (7/7); change management (5/7) indicator measures (4/6); legislation (0/3); awareness raising (5/5); polypharmacy reviews (5/7); and EU vision (0/7). Analysis of free text comments indicated that the vision statements were too ambitious and not achievable by the specified timeframe of 2025. Consensus was obtained amongst key EU strategists around many aspects of polypharmacy management in older people. Notably, no consensus was achieved in relation to statements relating to the need to alter legislation in areas of healthcare delivery, remuneration and practitioner scope of practice. While the vision for the EU by 2025 was considered rather

US Cystic Fibrosis Foundation and European Cystic Fibrosis Society consensus recommendations for the management of non-tuberculous mycobacteria in individuals with cystic fibrosis.

Science.gov (United States)

Floto, R Andres; Olivier, Kenneth N; Saiman, Lisa; Daley, Charles L; Herrmann, Jean-Louis; Nick, Jerry A; Noone, Peadar G; Bilton, Diana; Corris, Paul; Gibson, Ronald L; Hempstead, Sarah E; Koetz, Karsten; Sabadosa, Kathryn A; Sermet-Gaudelus, Isabelle; Smyth, Alan R; van Ingen, Jakko; Wallace, Richard J; Winthrop, Kevin L; Marshall, Bruce C; Haworth, Charles S

2016-01-01

Non-tuberculous mycobacteria (NTM) are ubiquitous environmental organisms that can cause chronic pulmonary infection, particularly in individuals with pre-existing inflammatory lung disease such as cystic fibrosis (CF). Pulmonary disease caused by NTM has emerged as a major threat to the health of individuals with CF but remains difficult to diagnose and problematic to treat. In response to this challenge, the US Cystic Fibrosis Foundation (CFF) and the European Cystic Fibrosis Society (ECFS) convened an expert panel of specialists to develop consensus recommendations for the screening, investigation, diagnosis and management of NTM pulmonary disease in individuals with CF. Nineteen experts were invited to participate in the recommendation development process. Population, Intervention, Comparison, Outcome (PICO) methodology and systematic literature reviews were employed to inform draft recommendations. An anonymous voting process was used by the committee to reach consensus. All committee members were asked to rate each statement on a scale of: 0, completely disagree, to 9, completely agree; with 80% or more of scores between 7 and 9 being considered 'good' agreement. Additionally, the committee solicited feedback from the CF communities in the USA and Europe and considered the feedback in the development of the final recommendation statements. Three rounds of voting were conducted to achieve 80% consensus for each recommendation statement. Through this process, we have generated a series of pragmatic, evidence-based recommendations for the screening, investigation, diagnosis and treatment of NTM infection in individuals with CF as an initial step in optimising management for this challenging condition. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://www.bmj.com/company/products-services/rights-and-licensing/

Recent developments in the way forward for alternative methods: Formation of national consensus platforms in Europe

International Nuclear Information System (INIS)

Rogiers, Vera

2005-01-01

Ecopa, the European Consensus Platform on 3R-Alternatives, is an international not-for-profit organization that wants to stimulate the development of 3R-alternatives, increase awareness among the public, scientists and regulatory bodies, and help their implementation into the different national legislations. This is done by networking and bringing together National Consensus Platforms on 3R-alternatives. Consensus means that all parties concerned are represented, namely, animal welfare, industry, academia, and governmental institutions. Actually, 14 Member State Platforms exist. Fully complying with the criteria, set by ecopa, are the platforms of Austria, Belgium, the Czech Republic, Finland, Germany, Italy, the Netherlands, Spain, Sweden, Switzerland, and the United Kingdom. Under development are the platforms of Denmark, Norway, and Poland. To reach its goals, ecopa uses conventional scientific tools such as workshops and meetings but it also makes scientific-political statements. A recent realization in particular is the involvement of ecopa in several European projects of the Sixth Framework Programme, either as coordinator, research partner, or board member

The European Bank for Reconstruction and Development in partnership with Lithuania targeting full technical and industrial participation in the development of the energy sector

International Nuclear Information System (INIS)

Jahnke, J.

2000-01-01

Policy of the European Bank for Reconstruction and Development (EBRD) in Lithuanian energy sector is described. Since 1994 EBRD take active part in financing of safety upgrades of Ignalina NPP. When in 1999 political decision was made to shut down unit 1 of Ignalina NPP EBRD is prepared to take part in co-financing of decommissioning of unit 1. A special fund - International Ignalina decommissioning support fund - was established under the auspice of EBRD recently. Developed countries, international organisation will be contributors to this fund and EBRD will be managing this fund

Board Size and Board Independence: A Quantitative Study on Banking Industry in Pakistan

Directory of Open Access Journals (Sweden)

Kashif Rashid

2014-12-01

Full Text Available This paper aims to investigate the relationship of board independence and board size with productivity and efficiency of the listed banks on the Karachi Stock Exchange, Pakistan. There is a lack of consensus regarding impact of corporate governance practices in correspondence to number of board members and board independence in banking sector. The derived results of the study show that there is a positive relationship between board independence and bank profitability and efficiency. Independent directors play a crucial role in providing genuine advice during executive decision making process which is an important source for improving overall corporate governance. Moreover, results regarding the role of control variables suggest a positive relationship of the total assets and deposits of the firm with the firm’s performance supporting stewardship theory in the market.

The Impact of the Public Authorities’ Messages – the European Central Bank Case

Directory of Open Access Journals (Sweden)

Ioan Talpos

2007-03-01

Full Text Available The public authorities (the agency messages could play a key role in the social subjects’ decisions. How and when the agency communicates the path of its future policies influences the present social and economic architecture. The aim of this paper is to advance an explanatory framework for the connections between the transparency and credibility of the public authorities and the volatility of the social output. In order to provide some empirical evidences, the paper will consider the case of the European Central Bank as a representative monetary authority. The main output of the paper resides in the thesis that, with a certain consistency, there are some connections between the agency’s mandates, the types of the messages transmitted by the agency and the volatility of the obtained results, and also in the idea that an agency entrusted with a “strong” mandate could transmit “mixed” type messages (i.e. “informative-persuasive” ones which, in special conditions, could influence the decisions of certain categories of clients and/ or non-members. Of course, the following core question still remains: “How sustainable could be the effects induced by the impact of different agency messages received by the various beneficiaries?” And this, because in the end “The one who knows does not speak and the one who speaks does not know” (LAO ZI - DAO DE JING.

Coordination in the European Union

OpenAIRE

Martin Feldstein

2013-01-01

This paper examines the sources of current conflict within the EU and the EMU. The topics discussed include the recent ECB policy of bond buying (the OMT policy), the attempts to advance the "European Project" of stronger political union (the fiscal compact, the banking union, and the proposals for budget supervision). Contrary to the claims of the European leadership, the progress that has been made has been by individual countries and not by coordinated action. The special problems of Franc...

Social health and dementia: a European consensus on the operationalization of the concept and directions for research and practice.

Science.gov (United States)

Dröes, R M; Chattat, R; Diaz, A; Gove, D; Graff, M; Murphy, K; Verbeek, H; Vernooij-Dassen, M; Clare, L; Johannessen, A; Roes, M; Verhey, F; Charras, K

2017-01-01

Because the pattern of illnesses changes in an aging population and many people manage to live well with chronic diseases, a group of health care professionals recently proposed reformulating the static WHO definition of health towards a dynamic one based on the ability to physically, mentally and socially adapt and self-manage. This paper is the result of a collaborative action of the INTERDEM Social Health Taskforce to operationalize this new health concept for people with dementia, more specifically the social domain, and to formulate directions for research and practice to promote social health in dementia. Based on the expertise of the Social Health Taskforce members (N = 54) three groups were formed that worked on operationalizing the three social health dimensions described by Huber et al.: (1) capacity to fulfil potential and obligations; (2) ability to manage life with some degree of independence; (3) participation in social activities. For each dimension also influencing factors, effective interventions and knowledge gaps were inventoried. After a consensus meeting, the operationalizations of the dimensions were reviewed by the European Working Group of People with Dementia (EWGPWD). The social health dimensions could be well operationalized for people with dementia and are assessed as very relevant according to the Social Health Taskforce and EWGPWD. Personal (e.g. sense of coherence, competencies), disease-related (e.g. severity of cognitive impairments, comorbidity), social (support from network, stigma) and environmental factors (e.g. enabling design, accessibility) that can influence the person with dementia's social health and many interventions promoting social health were identified. A consensus-based operationalization of social health in dementia is proposed, and factors that can influence, and interventions that improve, social health in dementia identified. Recommendations are made for research and practice.

FINANCIAL REPORTING: PERFORMANCE AND FAIR VALUE THE CASE OF THE EUROPEAN BANKING SECTOR

OpenAIRE

Elisabeth Combes-Thuelin; Lionel Escaffre

2003-01-01

International audience; Regarding financial reporting, information about performances is one of the preferred items banking institutions are referring to. Therefore, quantitative and qualitative performance indicators are a significant part of annual reports. Reporting about performances raises some other issues: valuation at cost or at fair value, registration versus disclosure. In the case of the banking industry, the accounting information disclosed is all the more important as this sector...

Transatlantic Multispecialty Consensus on Fundamental Endovascular Skills: Results of a Delphi Consensus Study.

Science.gov (United States)

Maertens, H; Aggarwal, R; Macdonald, S; Vermassen, F; Van Herzeele, I

2016-01-01

The aim of this study was to establish a consensus on Fundamental Endovascular Skills (FES) for educational purposes and development of training curricula for endovascular procedures. The term "Fundamental Endovascular Skills" is widely used; however, the current literature does not explicitly describe what skills are included in this concept. Endovascular interventions are performed by several specialties that may have opposing perspectives on these skills. A two round Delphi questionnaire approach was used. Experts from interventional cardiology, interventional radiology, and vascular surgery from the United States and Europe were invited to participate. An electronic questionnaire was generated by endovascular therapists with an appropriate educational background but who would not participate in subsequent rounds. The questionnaire consisted of 50 statements describing knowledge, technical, and behavioral skills during endovascular procedures. Experts received the questionnaires by email. They were asked to rate the importance of each skill on a Likert scale from 1 to 5. A statement was considered fundamental when more than 90% of the experts rated it 4 or 5 out of 5. Twenty-three of 53 experts invited agreed to participate: six interventional radiologists (2 USA, 4 Europe), 10 vascular surgeons (4 USA, 6 Europe), and seven interventional cardiologists (4 USA, 3 Europe). There was a 100% response rate in the first round and 87% in the second round. Results showed excellent consensus among responders (Cronbach's alpha = .95 first round; .93 second round). Ninety percent of all proposed skills were considered fundamental. The most critical skills were determined. A transatlantic multispecialty consensus was achieved about the content of "FES" among interventional radiologists, interventional cardiologists, and vascular surgeons from Europe and the United States. These results can serve as directive principles for developing endovascular training curricula

The mediterranean solar plan, the symbol of a Euro-Mediterranean partnership? the european investment bank at the service of a policy for renewable energy;Le plan solaire mediterraneen: un symbole du partenariat euro-mediterraneen? la banque europeenne d'investissements au service d'une politique renouvelee de l'energie

Energy Technology Data Exchange (ETDEWEB)

Fontaine-Vive, Ph. de [Banque Europeenne d' investissement (BEI) (Luxembourg)

2009-11-15

The European Investment Bank (EIB) was created in 1958 following the adoption of the Rome Treaty, this bank has lent support to economic growth and solidarity inside and outside the European Union. The energy sector is exemplary of the bank's ability to adapt and of its concern for a certain idea of Europe. This priority is examined from three complementary angles: the EIB and renewable energy; the EIB and the partnership for energy with our Mediterranean neighbors; and the EIB and the Mediterranean Solar Plan. It is recalled that in 2008, the EIB invested more than 10*10{sup 9} euros in the energy sector including 2.2*10{sup 9} euros for renewable energies

The European reliability data system - ERDS: a state of the art and future developments

International Nuclear Information System (INIS)

Mancini, G.; Amesz, J.; Bastianini, P.; Capobianchi, S.

1982-01-01

In the frame of the Multiannual Nuclear Safety Programme of the Joint Research Centre of the Commisson of the European Communities, a project is being carried out aiming at the creation of a centralized data system collecting and organizing, at European level, information related to the operation of LWRs. The European Reliability Data System ERDS will exploit information already collected in national data systems and information deriving from single reactor sources. The paper describes the development of the four data systems constituting the ERDS: Component Event Data Bank; Abnormal Occurrences Reporting System; Operating Unit Status Report; Generic Reliability Parameter Data Bank

Financial development and energy consumption in Central and Eastern European frontier economies

International Nuclear Information System (INIS)

Sadorsky, Perry

2011-01-01

This study examines the impact of financial development on energy consumption in a sample of 9 Central and Eastern European frontier economies. Several different measures of financial development are examined including bank related variables and stock market variables. The empirical results, obtained from dynamic panel demand models, show a positive and statistically significant relationship between financial development and energy consumption when financial development is measured using banking variables like deposit money bank assets to GDP, financial system deposits to GDP, or liquid liabilities to GDP. Of the three stock market variables investigated, only one, stock market turnover, has a positive and statistically significant impact on energy consumption. Both short-run and long-run elasticities are presented. The implications of these results for energy policy are discussed. - Research Highlights: → Financial development affects energy consumption in 9 Central and Eastern European frontier economies. → Bank variables have a larger impact on energy consumption than do stock market variables. → Long run bank elasticities range from 0.117 to 0.276. → These results have implications for energy demand forecasts and greenhouse gas emissions.

VALUES OF THE EUROPEAN FINANCIAL SPACE

Directory of Open Access Journals (Sweden)

NICU DURET

2011-04-01

Full Text Available This paper aims to analyze the perspective of the European financial space which should allow the professional intermediaries – the credit establishments, the insurance companies or investment services, to propose their services to the entire community of customers. Actually, here are considered the traditional banking services, such as those that provide insurance, especially those relating to life insurance.The access to regulated markets, it takes place in the perspective of this financial space, especially after coming into circulation of Euro coin. It should be insight, that the access to these markets, often requires the using of intermediaries. We can not speak about the existence of the financial space, without the freedom of action of these professional intermediaries. Concerning the freedom of these services, we can say that they depend on the movement of capital, and the movement capital is engaged since the directive of May 11, 1966, and subsequently is required after the June 24, 1988 and was confirmed by the Maastricht Treaty. Thus, we can discuss about the liberty of movement of capital, through angle the coordination of national legislation in matters of banks, the insurance and the investment services through a significant number of directives adopted. Nowadays, the European financial space is overtake, the EU borders and the internationalization of operations is require the extensive possible legal framework of application, also all the directives issued in matters of banks and insurance are covered by Annex VIII of the Agreement on the European Financial Space. The agreement also provides the interdictions of restrictions or discrimination concerning the movements of capital. As a consequence, the study is approach both to aspects concerning the European financial space and the interdictictions of restrictions or discrimination concerning the movements of capital.

Recommendations for the content and conduct of European League Against Rheumatism (EULAR) musculoskeletal ultrasound courses

DEFF Research Database (Denmark)

Naredo, E.; Bijlsma, J.W.J.; Conaghan, P.G.

2008-01-01

Objective: To develop education guidelines for the conduct of future European League Against Rheumatism (EULAR) musculoskeletal ultrasound (MSUS) courses. Methods: We undertook a consensus-based, iterative process using two consecutive questionnaires sent to 29 senior ultrasonographer rheumatolog......Objective: To develop education guidelines for the conduct of future European League Against Rheumatism (EULAR) musculoskeletal ultrasound (MSUS) courses. Methods: We undertook a consensus-based, iterative process using two consecutive questionnaires sent to 29 senior ultrasonographer...... attending the intermediate and advanced courses. Conclusion: We have developed European agreed guidelines for the content and conduct of EULAR ultrasound courses, which may also be recommended to national and local MSUS training programmes Udgivelsesdato: 2008/7...

The Determinants of Banking Crises and Currency Crises

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Young Mok Bae

2005-06-01

Full Text Available This paper studies the factors associated with the emergence of banking crises and currency crises and the interrelationship between the two crises in 21 American, European and Asian countries in 1973~2000 using a multivariate logit econometric model. And this analysis attempts to introduce the lag model to solve the causality problems in banking crises and currency crises. In case of the simple binary models without lag, banking crises were associated with economic recession, inflation, depreciation, the rise of real interest rate, lending boom. But in case of lag models, banking crises were caused by economic recession, inflation, the rise of real interest rate, lending boom, the rise of reserve ratio, the liberalization of capital account. Currency crises were associated with economic recession, the larger deficit of current account relative to import in case of the simple binary models without lag, But in case of lag models, currency crises were caused by economic recession, the rapid decrease of net foreign assets of banks, and the larger deficit of current account relative to import. And this analysis shows that currency crises can be a cause of banking crises, not vice versa. Nevertheless the two types of crises have positive correlation with each other.

Towards a stakeholders' consensus on patient payment policy: the views of health-care consumers, providers, insurers and policy makers in six Central and Eastern European countries.

Science.gov (United States)

Tambor, Marzena; Pavlova, Milena; Golinowska, Stanisława; Sowada, Christoph; Groot, Wim

2015-08-01

Although patient charges for health-care services may contribute to a more sustainable health-care financing, they often raise public opposition, which impedes their introduction. Thus, a consensus among the main stakeholders on the presence and role of patient charges should be worked out to assure their successful implementation. To analyse the acceptability of formal patient charges for health-care services in a basic package among different health-care system stakeholders in six Central and Eastern European countries (Bulgaria, Hungary, Lithuania, Poland, Romania and Ukraine). Qualitative data were collected in 2009 via focus group discussions and in-depth interviews with health-care consumers, providers, policy makers and insurers. The same participants were asked to fill in a self-administrative questionnaire. Qualitative and quantitative data are analysed separately to outline similarities and differences in the opinions between the stakeholder groups and across countries. There is a rather weak consensus on patient charges in the countries. Health policy makers and insurers strongly advocate patient charges. Health-care providers overall support charges but their financial profits from the system strongly affects their approval. Consumers are against paying for services, mostly due to poor quality and access to health-care services and inability to pay. To build consensus on patient charges, the payment policy should be responsive to consumers' needs with regard to quality and equity. Transparency and accountability in the health-care system should be improved to enhance public trust and acceptance of patient payments. © 2012 John Wiley & Sons Ltd.

In search for a public health leadership competency framework to support leadership curriculum-a consensus study.

Science.gov (United States)

Czabanowska, Katarzyna; Smith, Tony; Könings, Karen D; Sumskas, Linas; Otok, Robert; Bjegovic-Mikanovic, Vesna; Brand, Helmut

2014-10-01

Competency-based education is increasingly popular, especially in the area of continuing professional development. Many competency frameworks have been developed; however, few address leadership competencies for European public health professionals. The aim of this study was to develop a public health leadership competency framework to inform a leadership curriculum for public health professionals. The framework was developed as part of the Leaders for European Public Health project-supported by the EU Lifelong Learning Programme. The study was carried out in three phases: a literature review, consensus development panel and Delphi survey. The public health leadership competency framework was initially developed from a literature review. A preliminary list of competencies was submitted to a panel of experts. Two consensus development panels were held to evaluate and make changes to the initial draft competency framework. Then two rounds of a Delphi survey were carried out in an effort to reach consensus. Both surveys were presented through Survey Monkey to members of the Association of the Schools of Public Health in the European Region Working Group on Innovation in Public Health Teaching and Education. The framework was developed consisting of 52 competencies organized into eight domains: Systems Thinking; Political Leadership; Collaborative Leadership: Building and Leading Interdisciplinary Teams; Leadership and Communication; Leading Change; Emotional Intelligence and Leadership in Team-based Organizations; Leadership, Organizational Learning and Development and Ethics and Professionalism. The framework can serve as a useful tool in identifying gaps in knowledge and skills, and shaping competency-based continuing professional development leadership curricula for public health professionals in Europe. © The Author 2013. Published by Oxford University Press on behalf of the European Public Health Association. All rights reserved.

Shareholding relationships in the Euro Area banking market: A network perspective

Science.gov (United States)

Pecora, Nicolò; Spelta, Alessandro

2015-09-01

In this paper we analyze the topological properties of the network of the Euro Area banking market network, with the primary aim of assessing the importance of a bank in the financial system with respect to ownership and control of other credit institutions. The network displays power law distributions in both binary and weighted degree metrics indicating a robust yet fragile structure and a direct link between an increase of control diversification and a rise in the market power. Therefore while in good time the network is seemingly robust, in bad times many banks can simultaneously go into distress. This behavior paves the way for Central bank's actions. In particular we investigate whether the Single Supervisory Mechanism introduced by the European Central Banks and based on banks' total asset is a good proxy to quantify their systemic importance. Results indicate that not all the financial institutions with high valued total assets are systemically important but only few of them. Moreover the network structure reveals that control is highly concentrated, with few important shareholders approximately controlling a separate subset of banks.

COMPETITION IN ROMANIAN BANKING SECTOR

Directory of Open Access Journals (Sweden)

Capraru Bogdan

2011-07-01

Full Text Available Recent turmoil in the global financial system has impacted severely on the banking sector with many banks suffering large losses and necessitating the need to raise additional capital privately or through their respective national governments. In our study we investigate the impact of structural reforms performed throughout the European Union (EU accession process on competition and contestability of banking systems in Romania. The literature of the measurement of competition can be divided into two major approaches: structural and non-structural. The structural approach to the assessment of competition embraces the Structure-Conduct-Performance Hypothesis (SCP and the Efficient Structure Hypothesis (ESH. The structural approach, as the name suggests, assesses bank competition by examining measures of market structure such as concentration ratios (the share of assets held by the top 3 or 5 institutions or indices (e.g., the Herfindhal-Hirschman index and supposes that higher concentration in the banking market causes less competitive bank conduct and leads to higher bank profitability. The SCP model is originally developed by Bain (1956. The second approach, ESH, developed by Demsetz (1973 and Peltzmann (1977 suggests that the superior performance of the market leaders determines the market structure, implying that higher efficiency produces both higher concentration and greater profitability. The non-structural indicators of competition are mainly based on the measures of monopoly power developed by Lerner (1934. The Lerner Index suggests the mark-up of price over marginal cost. An alternative non-structural indicator of the degree of market competition is the Panzar and Rosse (1987 H-statistic. The H-statistic measures the extent to which changes in banking costs are reflected in changes in banking revenues. In order to examine the level of competition and market power of banks in Romania for period 2003 - 2009, we estimate the non

The VAT in the bank system

Directory of Open Access Journals (Sweden)

Krzysztof Biernacki

2013-07-01

Full Text Available The bank system in the European Union plays an important role as a significant sector of the economy. Implementing in the last century -VAT exemption also for services performed by banks generates extra tax inflows, but decreases international competitiveness of this sector. However, VAT is a perfect consumption tax, alternatives were created for banks’ services taxation. As the paper shows, many of them are used in other then EU countries and provide smaller distortions in taxation. The aim of this article is to shortly present the dominant model of VAT taxation in the EU with a particular reference to banks’ services and describe an alternative method of taxating them. The analysis will also refer to introducing a new Financial Transaction Tax since 2014.

Advocating vaccination of adults aged 60 years and older in Western Europe: statement by the Joint Vaccine Working Group of the European Union Geriatric Medicine Society and the International Association of Gerontology and Geriatrics-European Region.

Science.gov (United States)

Michel, Jean-Pierre; Chidiac, Christian; Grubeck-Loebenstein, Beatrix; Johnson, Robert W; Lambert, Paul Henri; Maggi, Stefania; Moulias, Robert; Nicholson, Karl; Werner, Hans

2009-04-01

Vaccines are an underused public health strategy for healthy aging. Considering the risks of vaccine-preventable diseases and the current low vaccine coverage rates in older European citizens, the two European geriatric and gerontological societies (European Union Geriatric Medicine Society [EUGMS] and International Association of Gerontology and Geriatrics-European Region [IAGG-ER]) convened a Joint Vaccine Working Group to develop a consensus document advocating routine vaccination of aging populations. The mandate of this Working Group was to improve the uptake of routine vaccinations in adults aged 60 years and over. The consensus statement underlines the need to establish, strengthen, and harmonize European policies that continue routine vaccinations to adulthood and that will include older populations. Improved vaccination rates will promote healthy aging by reducing the burden of vaccine-preventable infectious diseases in older populations, a population that is rapidly increasing in Europe.

Statin-associated muscle symptoms: impact on statin therapy-European Atherosclerosis Society Consensus Panel Statement on Assessment, Aetiology and Management.

Science.gov (United States)

Stroes, Erik S; Thompson, Paul D; Corsini, Alberto; Vladutiu, Georgirene D; Raal, Frederick J; Ray, Kausik K; Roden, Michael; Stein, Evan; Tokgözoğlu, Lale; Nordestgaard, Børge G; Bruckert, Eric; De Backer, Guy; Krauss, Ronald M; Laufs, Ulrich; Santos, Raul D; Hegele, Robert A; Hovingh, G Kees; Leiter, Lawrence A; Mach, Francois; März, Winfried; Newman, Connie B; Wiklund, Olov; Jacobson, Terry A; Catapano, Alberico L; Chapman, M John; Ginsberg, Henry N

2015-05-01

Statin-associated muscle symptoms (SAMS) are one of the principal reasons for statin non-adherence and/or discontinuation, contributing to adverse cardiovascular outcomes. This European Atherosclerosis Society (EAS) Consensus Panel overviews current understanding of the pathophysiology of statin-associated myopathy, and provides guidance for diagnosis and management of SAMS. Statin-associated myopathy, with significant elevation of serum creatine kinase (CK), is a rare but serious side effect of statins, affecting 1 per 1000 to 1 per 10 000 people on standard statin doses. Statin-associated muscle symptoms cover a broader range of clinical presentations, usually with normal or minimally elevated CK levels, with a prevalence of 7-29% in registries and observational studies. Preclinical studies show that statins decrease mitochondrial function, attenuate energy production, and alter muscle protein degradation, thereby providing a potential link between statins and muscle symptoms; controlled mechanistic and genetic studies in humans are necessary to further understanding. The Panel proposes to identify SAMS by symptoms typical of statin myalgia (i.e. muscle pain or aching) and their temporal association with discontinuation and response to repetitive statin re-challenge. In people with SAMS, the Panel recommends the use of a maximally tolerated statin dose combined with non-statin lipid-lowering therapies to attain recommended low-density lipoprotein cholesterol targets. The Panel recommends a structured work-up to identify individuals with clinically relevant SAMS generally to at least three different statins, so that they can be offered therapeutic regimens to satisfactorily address their cardiovascular risk. Further research into the underlying pathophysiological mechanisms may offer future therapeutic potential. © The Author 2015. Published by Oxford University Press on behalf of the European Society of Cardiology.

International business of banking: the pricing example of retail currency spreads

Directory of Open Access Journals (Sweden)

Enn Listra

2013-05-01

Full Text Available In this paper the pricing of a specific service of currency exchange based on the retail exchange rate spreads is studied on the example of four international banking groups. The aim of this study is to explore pricing of currency exchange services based on bid-ask differences in some commercial banks and possible price discrimination in this segment of market comparing the behaviour of Western mothers and Eastern daughters in European international banking groups. The retail currency rate spreads in different bank groups and countries are compared with each other. The main results of the study are that statistically significant differences exist in the spreads set by banking groups in different countries. All banking groups in the pilot sample offer more favourable rates in Western countries indicating that the pricing policy of bank groups may be discriminatory. The volatility of spreads over different currencies suggests that different decision making mechanisms may be present in the groups depending on the location of banking unit. The results of this pilot study suggest that further research is needed to understand the extent and the mechanism of findings.

Negative Interest Rates: Central Banks Initiated an Experiment

Directory of Open Access Journals (Sweden)

Aleksey N. Burenin

2016-01-01

Full Text Available Negative interest rates appeared as a consequence of economic problems that countries with market economy came across after the crises of2007-2008. The attempts of monetary authorities to stimulate economies with the help of quantitative easing didn't bring the desired result. That's why the central banks once again resorted to a traditional tool of their monetary policy of changing interest rates. But this time they launched an experiment, they used negative interest rates. The European Central Bank, the Swedish Riksbank, the Bank of Japan, and the National Bank of Hungary introduced negative rates in order to stimulate economic growth and fight the threat of deflation, the Danish National Bank and the Swiss National Bank tried to deter appreciation of their currencies. Negative rates of the central banks brought about negative yields of government and nongovernment securities in several countries. The problem acquires an aggravated form due to the fact that negative rates appeared in several European countries simultaneously at the moment when global financial markets were not in crises. Some questions arise concerning the negative rates, for example, how low can central banks bring down the rates in the future, what is their influence on the stock markets, what is the reaction of depositors to the introduction of negative deposit rates by commercial banks, must one consider a negative rate as a rate of interest or payment to store money of the depositor, in which circumstances negative rates can be justified to fight deflation. The last question plays an important role, because recent studies find that positive economic growth is possible during deflation. If central banks don't take this nuance into consideration, they can create economic imbalances by increasing liquidity. Negative rates are not as inoffensive as it may seem at first glance. Not far ago an investor, who tried to averse risk, was buying government securities. Their yields

European Society for Paediatric Endocrinology Consensus Guidelines on Screening, Diagnosis, and Management of Congenital Hypothyroidism

Science.gov (United States)

Léger, Juliane; Olivieri, Antonella; Donaldson, Malcolm; Torresani, Toni; Krude, Heiko; van Vliet, Guy; Polak, Michel

2014-01-01

Objective: The aim was to formulate practice guidelines for the diagnosis and management of congenital hypothyroidism (CH). Evidence: A systematic literature search was conducted to identify key articles relating to the screening, diagnosis, and management of CH. The evidence-based guidelines were developed with the Grading of Recommendations, Assessment, Development and Evaluation (GRADE) system, describing both the strength of recommendations and the quality of evidence. In the absence of sufficient evidence, conclusions were based on expert opinion. Consensus Process: Thirty-two participants drawn from the European Society for Paediatric Endocrinology and five other major scientific societies in the field of pediatric endocrinology were allocated to working groups with assigned topics and specific questions. Each group searched the literature, evaluated the evidence, and developed a draft document. These papers were debated and finalized by each group before presentation to the full assembly for further discussion and agreement. Recommendations: The recommendations include: worldwide neonatal screening, approaches to assess the cause (including genotyping) and the severity of the disorder, the immediate initiation of appropriate L-T4 supplementation and frequent monitoring to ensure dose adjustments to keep thyroid hormone levels in the target ranges, a trial of treatment in patients suspected of transient CH, regular assessments of developmental and neurosensory functions, consulting health professionals as appropriate, and education about CH. The harmonization of diagnosis, management, and routine health surveillance would not only optimize patient outcomes, but should also facilitate epidemiological studies of the disorder. Individuals with CH require monitoring throughout their lives, particularly during early childhood and pregnancy. PMID:24446653

The European Society of Therapeutic Radiology and Oncology-European Institute of Radiotherapy (ESTRO-EIR) report on 3D CT-based in-room image guidance systems: a practical and technical review and guide

DEFF Research Database (Denmark)

Korreman, Stine; Rasch, Coen; McNair, Helen

2010-01-01

The past decade has provided many technological advances in radiotherapy. The European Institute of Radiotherapy (EIR) was established by the European Society of Therapeutic Radiology and Oncology (ESTRO) to provide current consensus statement with evidence-based and pragmatic guidelines on topics...

Recommendations for mechanical ventilation of critically ill children from the Paediatric Mechanical Ventilation Consensus Conference (PEMVECC).

Science.gov (United States)

Kneyber, Martin C J; de Luca, Daniele; Calderini, Edoardo; Jarreau, Pierre-Henri; Javouhey, Etienne; Lopez-Herce, Jesus; Hammer, Jürg; Macrae, Duncan; Markhorst, Dick G; Medina, Alberto; Pons-Odena, Marti; Racca, Fabrizio; Wolf, Gerhard; Biban, Paolo; Brierley, Joe; Rimensberger, Peter C

2017-12-01

Much of the common practice in paediatric mechanical ventilation is based on personal experiences and what paediatric critical care practitioners have adopted from adult and neonatal experience. This presents a barrier to planning and interpretation of clinical trials on the use of specific and targeted interventions. We aim to establish a European consensus guideline on mechanical ventilation of critically children. The European Society for Paediatric and Neonatal Intensive Care initiated a consensus conference of international European experts in paediatric mechanical ventilation to provide recommendations using the Research and Development/University of California, Los Angeles, appropriateness method. An electronic literature search in PubMed and EMBASE was performed using a combination of medical subject heading terms and text words related to mechanical ventilation and disease-specific terms. The Paediatric Mechanical Ventilation Consensus Conference (PEMVECC) consisted of a panel of 15 experts who developed and voted on 152 recommendations related to the following topics: (1) general recommendations, (2) monitoring, (3) targets of oxygenation and ventilation, (4) supportive measures, (5) weaning and extubation readiness, (6) normal lungs, (7) obstructive diseases, (8) restrictive diseases, (9) mixed diseases, (10) chronically ventilated patients, (11) cardiac patients and (12) lung hypoplasia syndromes. There were 142 (93.4%) recommendations with "strong agreement". The final iteration of the recommendations had none with equipoise or disagreement. These recommendations should help to harmonise the approach to paediatric mechanical ventilation and can be proposed as a standard-of-care applicable in daily clinical practice and clinical research.

Le emissioni delle banche italiane sull’euromercato (The Eurobond Issues of Italian Banks

Directory of Open Access Journals (Sweden)

Paolo Emilio Mistrulli

2003-12-01

Full Text Available After the launch of the single European currency banks of the main euro-area countries have increasingly issued bonds on the Euromarket. In this paper, I investigate the determinants of Italian banks' recourse to international capital markets. I find that, other things being equal, domestic market conditions affect the choice whether to issue Eurobonds. In particular, the econometric analysis highlights that those banks, which are more prone to issue bonds on the Euromarket, are more exposed to liquidity risks and are less specialized in raising deposits on specific domestic submarkets.

Internal controls and credit risk relationship among banks in Europe

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Ellis Kofi Akwaa-Sekyi

2017-01-01

Full Text Available Purpose: The study purport to investigate the effectiveness of internal control mechanisms, investigate whether evidence of agency problem is found among banks in Europe and determine how internal controls affect credit risk. Design/methodology/approach: Panel data from 91 banks from 23 European Union countries were studied from 2008-2014. Hausman’s specification test suggest the use of fixed effects estimation technique of GLS. Quantitatively modelled data on 15 variables covering elements of internal controls, objectives of internal controls, agency problem, bank and country specific variables were used. Findings: There is still high credit risk in spite of measures being implemented by the European Central Bank. Banks have individual entity factors that increase or decrease credit risk. The study finds effective internal control systems because objectives of internal controls are achieved and significantly determine credit risk. Agency problem is confirmed due to significant positive relation with credit risk. There is significant effect of internal controls on credit risk with specific variables as risk assessment, return on average risk weighted assets, institutional ownership, bank size, inflation, interest rate and GDP. Research limitations/implications: Missing data prevented the use of strongly balanced panel. The lack of flexibility with using quantitative approach did not allow further scrutiny of the nature of variables. However, statistical tests were acceptable for the model used. The study has implications for management and owners of banks to be warry of agency problem because that provides incentive for reckless high risk transactions that may benefit the agent than the principal. Management must engage in actions that profile the company better and enhances value maximization. Rising default risk has tendency to impair corporate image leading to loss of reputational capital. Originality/value: The study provides the use of

PERFORMANCE-RELIABILITY – THE MAIN SUBJECT OF THE BANKING ANALYSIS OF THE CREDITED SOCIETIES

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AVRAM (BOITOŞ CAMELIA

2013-12-01

Full Text Available Since the crediting activity occupies the primary role in any banking institution, the necessity of study and its analysis is required by following some steps both at a microeconomic level and at a macroeconomic one. Going over the theme, which aims at the importance of a thorough study of the clients' reliability for highlighting the existing risks in the banking activity in general, and particularly in the crediting activity, becomes as more interesting as their approach at the level of the member states of the European Union tends towards a common theme. Starting from these premises, we have considered as being extremely important the selection of a research theme which aims at the risks in the crediting activity, emphasizing the analysis of the clients' reliability both in the decision of crediting in order to assume the risk of credit and in determining the financial and banking performances. Being given the complexity of the existing risks in the banking activity in general and particularly of the credit risk, the clients' reliability represents an extremely important field, of research and application, bearing in mind both the actual stage of developing the Romanian banking system and the attempts of its alignment to the requirements imposed by the European Union.

Modeling Banking, Sovereign, and Macro Risk in a CCA Global VAR

OpenAIRE

Dale F. Gray

2013-01-01

The purpose of this paper is to develop a model framework for the analysis of interactions between banking sector risk, sovereign risk, corporate sector risk, real economic activity, and credit growth for 15 European countries and the United States. It is an integrated macroeconomic systemic risk model framework that draws on the advantages of forward-looking contingent claims analysis (CCA) risk indicators for the banking systems in each country, forward-looking CCA risk indicators for sover...

Energy consensus talks collapse over nuclear issues

International Nuclear Information System (INIS)

Anon.

1993-01-01

Germany's energy consensus talks, ongoing since March 1993, were brought to unsuccessful end on October 26. Representatives from the Social Democratic Party (SDP), led by Lower Saxony's prime minister, Gerhard Schroeder, failed to get approval from party leaders on continued development of advanced reactors with enhanced safety - notably the Siemens/Framatome-designed 1500-MWe European pressurized water reactor (EPR) plan, for which the prospective schedule envisages a construction start in 1998. Nor would the SDP leadership accept the continued operation of existing nuclear plans to the end of their design life (some 20 to 25 years)

Does the intensity of prudential regulation affect banks? Evidence from the 2007-2009 crises

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Isabel Argimon

2012-08-01

Full Text Available The main objective of this research is to gather empirical evidence on the effects of more or less stringency and more or less risk sensitivity in regulatory capital requirements on the observed behaviour of European banks during the initial years of the financial crisis. To do so, we use the indices built in Argimón and Ruiz (2010, which capture such characteristics of capital regulation. We test their incidence using changes in yearly data for individual banks for 25 countries of the European Union covering the period 2007-2009. Our results show that more stringency and risk sensitivity in capital regulation resulted in higher capital increases, with limited effect on risk taking. However, for well capitalized banks, higher risk sensitivity resulted in higher capital and higher risk, thus requiring striking the right balance, so as to lead to increased stability.

Development of Communication Strategies for the Marketing of Electronic Banking Services for Individuals

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Dunas Natalia V.

2017-03-01

Full Text Available The main aim of the article is to study the trends in the development of communication strategies for the marketing of electronic banking services for individuals by studying the foreign experience in Digital Banking, as well as the situation in the Ukrainian banking market. There offered a comparative characteristic of banking systems of electronic banking services for clients with the purpose of working out flexible methodological approaches for the development of marketing communication strategies for remote client servicing. The characteristic features of electronic banking services and technologies in Ukraine are determined. Comparative evaluation of positive aspects and risks of remote electronic banking systems for banks as well as their client segment is conducted. Analytical aspects of the sociological survey of European banks regarding the selection of the most important priorities of the marketing strategies of financial institutions for 2017 are presented. Also the main factors determining the development of marketing communications of banks and their clients in the field of electronic payments both in Ukraine and abroad are identified. Modern directions of development of communication strategies of marketing of electronic banking services for individuals in Ukraine are proposed.

Application of artificial intelligence techniques to reliability data banks

International Nuclear Information System (INIS)

Carlesso, S.; Barbas, T.; Capobianchi, S.; Koletsos, A.; Mancini, G.

1987-01-01

This paper refers to ERDS (European Reliability Data System) which contains data on operational behaviour of nuclear power reactors in Europe and in the USA. Information outages, incidents and component failures are organized in data base structures and handled with the ADABAS Data Base Management System; the system has been built up in the last six years at the JRC of the Commission of the European Communities and offers a good example of a complex technical data bank. The effective use of ERDS is difficult and requires a skilled specific experience. A feasibility study and a preliminary design have been carried out concerning the development of an expert interface to ERDS. This paper illustrates the main results of this work focusing in the types of problems involved in the design of an expert interface to a technical data bank and on the solutions proposed. The implementation of the expert interface to ERDS is presently in progress. (orig./HSCH)

ENIQ: European Network for Inspection Qualification

International Nuclear Information System (INIS)

Champigny, F.; Crutzen, S.; Lemaitre, P.

1995-01-01

Many countries are currently considering their own approach to inspection qualification and are carefully assessing experience to date. ENIQ, which stands for European Network for Inspection Qualification, groups the major part of the utilities in Western Europe. The general objective of ENIQ is to coordinate and manage at European level expertise and resources for the assessment and qualification of NDE inspection techniques and procedures, primarily for nuclear components. Also non-nuclear heavy duty components will be considered. Within ENIQ there is a growing consensus of opinion on the general principles of a European approach towards inspection qualification. In this paper the main activities, organization and actual status of ENIQ will be discussed

PEMAHAMAN NASABAH BANK MUAMALAT INDONESIA BANDA ACEH TERHADAP AKAD MUDHARABAH

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Iskandar Iskandar

2012-12-01

Full Text Available Knowledge and understanding of mudharabah products in Islamic banking is necessity for the customers. Mudharabah is one of banking products pose a great risk, because this involves both the investors and the costumers. For the case of Bank Muamalat Indonesia, customer’s lack of understanding on the mudharabah contract may elevate disputes related to the financing offered by the bank as investor and consequently to the consensus of profit sharing ratio. This study aims to discuss and identify the link between the understanding and the conflicts that occur in Bank Muamalat Indonesia Banda Aceh branch. This is a field research that utilized a quantitative approach in gathering data. The results obtained are analyzed using the SPSS software. The finding shows that there is a link between the understanding and the conflicts that occur in Bank Muamalat Indonesia Banda Aceh. The higher level of customer’s understanding towards the product, the smaller risk of conflict may occur. Thus, the data analysis concludes that there is a small positive relationship between customers' understanding of the mudharabah contract and the disputes possibility. =========================================== Pengetahuan dan pemahaman nasabah terhadap produk mudharabah dalam perbankan syariah sangat diperlukan oleh semua nasabah. Mudharabah adalah salah satu produk perbankan yang menimbulkan resiko yang besar, ini karena akad ini melibat dua pihak, yaitu investor dan nasabah. Pada kasus Bank Muamalat Indonesia, kurangnya pemahaman nasabah terhadap produk Mudharabah akan mendatangkan kemungkinan timbulnya sengketa berkaitan pembiayaan yang dikeluarkan oleh bank sebagai shahibul maal dan kesepakatan nisbah pembagian keuntungan. Kajian ini bertujuan untuk membahas dan mengenal pasti kaitan antara kepahaman dengan konflik yang terjadi di Bank Muamalat Indonesia cabang Banda Aceh. Kajian ini merupakan kajian lapangan dengan menggunakan pendekatan kuantitatif dalam mendapatkan

Methods of Payment to Banks: e-Banking. Comparative Study on Three Banks

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Miranda Petronella VLAD

2012-11-01

Full Text Available E-banking website, majority offers the banks. At first it was electronic-banking, Internet-banking followed, followed by mobile-banking service. These services offer the same facilities, Customer Bank just that varies the channel used for communication with the Bank. The services offered by banks through E-banking, approves: compilation of orders; scheduled payments; orders for payment of wages; internal transfers; pay rates on internal or external; currency exchanges; view balances of accounts at any time; information about foreign exchange rates; view and print account statements; the definition of beneficiaries of direct payments by the client.

ONLINE BANKING IN THE ROMANIAN BANKING SYSTEM

OpenAIRE

IMOLA DRIGĂ

2014-01-01

In the world of banking, the development of IT has a huge effect on development of more flexible payments methods and more user-friendly banking services. Recently, modern electronic banking services, internet and mobile banking, have rejuvenated banking transactions. Electronic banking over the Internet is one of the newest e-banking services with several benefits both for banks and for customers. The paper aims to provide an overview of online banking services highlighting various aspect...

Legal Instruments of Regulation of Development of Banking Activity in Ukraine

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Senyshch Pavlo M.

2014-03-01

Full Text Available The article considers main approaches to identification of essence of legal instruments of regulation of development of the banking activity, identifies the mechanism of legal regulation of the banking activity and its elements and justifies the system and form of legal regulation of the banking activity in Ukraine. It describes subjects of legal regulation of the banking activity at the international level, which are the Basel Committee on Banking Supervision, European Central Bank, IMF, International Financial Reporting Standards Foundation and others. The article considers specific features of the regulatory requirements of Basel II and Basel III and specific features of their introduction into the banking activity. It describes anti-cyclic measures offered by the Basel Committee, which should facilitate formation of such conditions, under which the banking sector could have a lower level of leverage and stability with respect to influence of system risks. Significant attention is paid to international instruments of regulation of the banking activity, which include the following legal acts: Uniform Rules for Collections, Uniform Customs and Practice for Documentary Credits, and Unified Rules for Loan Guarantees. The article shows that the share of subordinate legal acts is significant in the Ukrainian system of banking regulatory and legal acts since the state cannot operatively react to the changing processes in banking at the legislative level and, that is why, basic provisions on carrying out banking activity should be fixed in law.

12 CFR 619.9140 - Farm Credit bank(s).

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Farm Credit bank(s). 619.9140 Section 619.9140 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM DEFINITIONS § 619.9140 Farm Credit bank(s). Except as otherwise defined, the term Farm Credit bank(s) includes Farm Credit Banks...

ONLINE BANKING IN THE ROMANIAN BANKING SYSTEM

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IMOLA DRIGĂ

2014-12-01

Full Text Available In the world of banking, the development of IT has a huge effect on development of more flexible payments methods and more user-friendly banking services. Recently, modern electronic banking services, internet and mobile banking, have rejuvenated banking transactions. Electronic banking over the Internet is one of the newest e-banking services with several benefits both for banks and for customers. The paper aims to provide an overview of online banking services highlighting various aspects globally as well as in the Romanian banking system. Even if there already are several studies on web banking, this topic still remains a resourceful area for academic research in the next decade.

Advances in bone augmentation to enable dental implant placement: Consensus Report of the Sixth European Workshop on Periodontology.

Science.gov (United States)

Tonetti, Maurizio S; Hämmerle, Christoph H F

2008-09-01

Bone augmentation procedures to enable dental implant placement are frequently performed in practice. In this session the European Workshop on Periodontology discussed the evidence in support of the procedures and examined both adverse events and implant performance in the augmented bone. While the available evidence improved both in quantity and quality since previous workshops the conclusions that could be drawn were limited by elements of design and/or reporting that are amenable to improvement. With regards to lateral bone augmentation, a sizable body of evidence supports its use to enable dental implant placement. The group recognized the potential for vertical ridge augmentation procedures to allow implant placement in clinical practice but questioned the applicability of these data to a wider array of operators and clinical settings. With regards to sinus floor augmentation, perforation of the sinus membrane, graft infection and graft loss resulting in inability of implant placement were the major reported adverse events. In cases with dental implants placed in pristine sites. The consensus emphasized the research need to answer questions on: (i) long-term performance of dental implants placed in augmented bone; (ii) the clinical performance of dental implants placed in augmented or pristine sites; and (iii) the clinical benefits of bone augmentation with respect to alternative treatments.

Sperm banking is of key importance in patients with prostate cancer.

Science.gov (United States)

Salonia, Andrea; Capogrosso, Paolo; Castiglione, Fabio; Russo, Andrea; Gallina, Andrea; Ferrari, Matteo; Clementi, Maria Chiara; Castagna, Giulia; Briganti, Alberto; Cantiello, Francesco; Damiano, Rocco; Montorsi, Francesco

2013-08-01

To assess the need for sperm banking among patients with prostate cancer (PCa) who are candidates for radical prostatectomy (RP). Cross-sectional study. Urologic department. Cohort of 510 Caucasian-European candidates for RP. A 10-item self-administered questionnaire to assess opinions on sperm banking before RP, to which descriptive statistics and logistic regression models were applied. PCa patients' wishes for preoperative sperm banking. Data collection was completed for 495 patients (97.1%). Ninety-nine (20%) expressed a wish for preoperative sperm banking. Men who wanted to bank sperm were younger (mean 62.2 vs. 65.1 years), were more frequently childless (21.2% vs. 8.8%), and more frequently had a more intense desire for fatherhood (64.7% vs. 9.3%) than the patients not interested in banking sperm. Willingness to bank sperm was not affected by the patient's educational or relationship status. Moreover, the interest for sperm banking was maintained regardless of cost issues. Overall, 84% of the patients considered it necessary to have a dedicated service of preoperative sperm cryopreservation. One out of five PCa patients would bank sperm before RP. Most patients considered it necessary to establish a dedicated service for preoperative sperm cryopreservation, regardless of their own motivation to bank sperm. Copyright © 2013 American Society for Reproductive Medicine. Published by Elsevier Inc. All rights reserved.

THE ROMANIAN BANKING SYSTEM – PAST, ACTUALITY, PERSPECTIVES

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DAVID DELIA

2012-07-01

Full Text Available The way crossed by the Romanian banking system until the present time is one governed by profound reforms which have been made in regards to the European Union. The strategies embraced by Romanian banks, in 1990 and until the present time, are meant to develop and to improve the performances so that they can compete with European banks and they can respond in an efficient manner to the customers’ needs. The purpose of this paper is to underline the main stages of evolution of the Romanian banking system since 1990 and to lay emphasize the perspectives on its evolution in the context of the actual economic crisis. By going through the stages previously mentioned in this paper , we can see that the Romanian banking system evolved positively, from the moment of the transition to the market economy, but in order for it to be functional and to contribute to the development of the economy as a whole, aspects related to the the supervision of the financial stability should be taken into consideration and in order to assure the stability of the financial system, the increase of the administrative capacity of the Central Bank should be considered, as well as balancing the structure of the creditation process, on coins, the improvement of the banking assets’ quality, the qualitative study of the NBR’s surveillance process, managing the contagion risk, etc. In order to achieve these objectives, the documentation by the investigation of a significant volume of works has been done, by scientifically acknowledged publications, analysis being applied, by deduction method and a significant volume of quantitative information was submitted to professional judgment. Concerns regarding this subject have been found in various paper works and in specialized books. We mention here the doctoral thesis of Elena Teodorescu Georgescu “The evaluation pattern of credit institutions’ prudential surveillance efficacy”, the author of

Priority target conditions for algorithms for monitoring children's growth: Interdisciplinary consensus.

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Pauline Scherdel

Full Text Available Growth monitoring of apparently healthy children aims at early detection of serious conditions through the use of both clinical expertise and algorithms that define abnormal growth. Optimization of growth monitoring requires standardization of the definition of abnormal growth, and the selection of the priority target conditions is a prerequisite of such standardization.To obtain a consensus about the priority target conditions for algorithms monitoring children's growth.We applied a formal consensus method with a modified version of the RAND/UCLA method, based on three phases (preparatory, literature review, and rating, with the participation of expert advisory groups from the relevant professional medical societies (ranging from primary care providers to hospital subspecialists as well as parent associations. We asked experts in the pilot (n = 11, reading (n = 8 and rating (n = 60 groups to complete the list of diagnostic classification of the European Society for Paediatric Endocrinology and then to select the conditions meeting the four predefined criteria of an ideal type of priority target condition.Strong agreement was obtained for the 8 conditions selected by the experts among the 133 possible: celiac disease, Crohn disease, craniopharyngioma, juvenile nephronophthisis, Turner syndrome, growth hormone deficiency with pituitary stalk interruption syndrome, infantile cystinosis, and hypothalamic-optochiasmatic astrocytoma (in decreasing order of agreement.This national consensus can be used to evaluate the algorithms currently suggested for growth monitoring. The method used for this national consensus could be re-used to obtain an international consensus.

Banking system trust, bank trust, and bank loyalty

NARCIS (Netherlands)

van Esterik-Plasmeijer, P.; van Raaij, W.F.

2017-01-01

Purpose The purpose of this paper is to test a model of banking system trust as an antecedent of bank trust and bank loyalty. Six determinants of trust and loyalty are included: competence, stability, integrity, customer orientation, transparency, and value congruence. The study provides insights

Relationship Banking in Labor Bank

OpenAIRE

三村, 聡

2012-01-01

As Labor bank is seemed as business partner of labor union, it contributes each community activities. For example, Labor bank helps retired employee, laborer and inhabitants. In addition, after the amendment of Money Lending Business Act of 2010, labor bank became clearly community based bank by consulting for heavily-indebted people and their education. This paper analyzes the new role of labor bank such as community contribution and enhancing financing service by collecting of the opinion o...

Bank, Banking System, Macroprudential Supervision, Stability of Banking System

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Tetiana Vasilyeva

2016-10-01

Full Text Available Intensification of financial development during last decade causes transformation of banking sector functioning. In particular, among the most significant changes over this period should be noted the next ones: convergence of financial market segments and appearance of cross-sector financial products, an increase of prevailing of financial sector in comparison with real economy and level of their interdependent, an intensification of crisis processes in financial and especially banking sector and a significant increase of the scale of the crisis consequences etc. thus, in such vulnerable conditions it is become very urgent to identify the relevant factors that can influence on the stability of banking sector, because its maintenance seems to be one of the most important preconditions of the stability of the national economy as a whole. Purpose of the article is to analyze key performance indicators of the Ukrainian banking system, clarify its main problems, identify relevant factors of the stability of the Ukrainian banking system and the character of their influence on the dependent variable. Realization of the mentioned above tasks was ensured by regression analysis (OLS regression. Analysis of key indicators that characterize current situation in the Ukrainian banking system found out the existence of numerous endogenous and exogenous problems, which, in turn, cause worsening most of analyzed indicators during 2013-2015. Unfavorable situation in Ukrainian banking system determined the necessity of identification of relevant factors of banking system stability to avoid transmission of financial shocks. According to the results of regression analysis on the stability of banking sector positively influence such factors as increase of interest margin to gross income ratio, reserves to assets ratio, number of branches, ratio of non-performing loans to total loans. Meanwhile, negative impact on stability of banking system has an increase of liquid

Banking System Stability and Public Security: the Cases of the Collapse of the Commercial Banks “Snoras” and “Ūkio bankas” in Lithuania

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Mažylis Liudas

2014-12-01

Full Text Available The stability of the banking system is analyzed in the article as an important condition of security of the society. The article analyzes the short term and long term impact of the collapse of two commercial banks, “Snoras” and “Ūkio bankas”, on the public attitude about the banking activities in Lithuania. Employing new institutionalism theoretical approaches, an analytical model is constructed based on the reconstruction of discursive devices of two Lithuanian Internet news portals, Delfi.lt and Lrytas.lt. The positions of the main process actors (Bank of Lithuania, Heads of the State, and media itself within a changing structural environment are assessed. The article argues that new institutionalism presents an appropriate theoretical framework for characterizing the processes analyzed, taking into account calculations of actors and explaining development of political processes, and taking into account circumstances of consensus reached in the former stages of political processes. Employing the discursive institutionalism approach enables the understanding of actors as actively influencing and changing structural environment. Five stages of bank collapse are defined according to the reflections in the news media portals. They differ by their continuity, intensity and by the means used for (re-constructing discourses, comparing former case of collapse with the latter one. For instance, the position of the society caused by the “Snoras” bank collapse can be characterized as a classical case of cognitive dissonance: commercial banks are treated by the society as untrustworthy and at the same time society’s behavior shows that society is benefiting from the bank services. Politically the problem analyzed seems like a marginal one without any important influence on mainstream political processes. It seems that the situation after the bank collapse is different from early post-Soviet times when “safety of savings” was an

Lack of international consensus in low-risk drinking guidelines.

Science.gov (United States)

Furtwaengler, Nina A F F; de Visser, Richard O

2013-01-01

To encourage moderate alcohol consumption, many governments have developed guidelines for alcohol intake, guidelines for alcohol consumption during pregnancy and legislation relating to blood alcohol limits when driving. The aim of this study was to determine the degree of international consensus within such guidelines. Official definitions of standard drinks and consumption guidelines were searched for on government websites, including all 27 European Union Member States and countries from all global geographic regions. There was a remarkable lack of agreement about what constitutes harmful or excessive alcohol consumption on a daily basis, a weekly basis and when driving, with no consensus about the ratios of consumption guidelines for men and women. International consensus in low-risk drinking guidelines is an important--and achievable--goal. Such agreement would facilitate consistent labelling of packaged products and could help to promote moderate alcohol consumption. However, there are some paradoxes related to alcohol content labelling and people's use of such information: although clearer information could increase people's capacity to monitor and regulate their alcohol consumption, not all drinkers are motivated to drink moderately or sensibly, and drinkers who intend to get drunk may use alcohol content labelling to select more alcoholic products. © 2012 Australasian Professional Society on Alcohol and other Drugs.

The Response of Performance to Merger Strategy in Indonesian Banking Industry: Analyses on Bank Mandiri, Bank Danamon, and Bank Permata

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Murti Lestari

2010-05-01

Full Text Available This study analyzes the responses of performances of BankMandiri, Bank Danamon, and Bank Permata to merger strategy.This paper harnesses the quantitative approach with structuralbreak analysis method and impulse response function. Theplausible findings indicate that the merger of Bank Permataproduces a better performance response in comparison to theconsolidation of Bank Mandiri and the merger of Bank Danamon.The merger of Bank Permata does not result in performanceshocks, and the structural break does not prevail either. On theother hand, the consolidation of Bank Mandiri and the mergerof Bank Danamon result in structural breaks, particularly in thespread performance. In order to return to the stable position, themergers of Bank Mandiri and Bank Danamon require a longertime than does the merger of Bank Permata. This researchindicates that for large banks, the mergers and acquisitions(retaining one existing bank will deliver a better performanceresponse than will the consolidations (no existing bank. Keywords: impulse response function; merger; structural break

Delay-Induced Consensus and Quasi-Consensus in Multi-Agent Dynamical Systems

NARCIS (Netherlands)

Yu, Wenwu; Chen, Guanrong; Cao, Ming; Ren, Wei

2013-01-01

This paper studies consensus and quasi-consensus in multi-agent dynamical systems. A linear consensus protocol in the second-order dynamics is designed where both the current and delayed position information is utilized. Time delay, in a common perspective, can induce periodic oscillations or even

L'attività internazionale delle banche italiane: una sintesi degli ultimi dieci anni (The International Activity of Italian Banks: A Synthesis of the Last Ten Years

Directory of Open Access Journals (Sweden)

Riccardo De Bonis

2000-12-01

Full Text Available This paper examines the developments of the Italian banking system during the Nineties from two related points of view: net external position and degree of internationalisation, i.e. branches and subsidiaries abroad. These themes seem particularly interesting in the light of the widespread belief that the euro area will significantly increase banking competition and cross-border operations in coming years. We find two major forces driving banks' external net position: the growth in loans to domestic borrowers and the convergence in interest rate levels across European countries. The development of foreign branches and subsidiaries has been influenced by two counterbalancing forces; the big banking groups reduced their presence abroad while some medium-sized banks opened their first branches; the focus of foreign branches and subsidiaries has been on specific segments of banking activities, very often exploiting "localization" advantages. Despite the improvement in the Nineties, Italian banks have tended to show a relatively low degree of internationalisation compared with the main European banking system.

COMPARATIVE STUDY OF OWN FUNDS IN THE BANKING SYSTEM

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Tesu Ramona

2012-12-01

Full Text Available The present article has as a reserch field theoretical, methodological and practical aspects of the own funds, taking into account the line-up attempts of the romanian banking system to the requirements of the European Union, materialised in the Basel Agreement. The objectives of the research theme, presented in this paper, are mainly oriented towards own funds. We also proposed the following secondary objectives: presenting the concept approaches concerning own funds, emphasysing the tipology of own funds and pointing out their purpose in the banking activity; presenting and analyse the evolution of the own funds in Romania, for a period of 8 years (2004-2011. Even though the actual stage of the research in this field is advanced, in the romanian and foreign literature which dedicate a lot of theoretical and empiric studies concerning own funds. In our study we will use a theoretical and a practical research. The theoretical research describes the laws, reglementations and rules of application in the banking field in our country. In the practical part we will use as a research method the quality-comparative analyse by presenting details regarding bank back-ups. Despite the global financial crisis, the Romanian banking system can be considered as stable as a whole, with levels of capitalization, solvency and liquidity in accordance with consistent with prudential requirements. Tier 1, defined as the core of their sources of credit institutions through the permanent criteria, payment flexibility and capacity to absorb losses continued to overwhelmingly support a total equity. Appropriate quality of own funds is on their structure. The most important component frame our capital plus capital frame attached. The second component in terms is still represented by legal reserves. An important challenge for banks was to maintain a level of own funds accordance, in the conditions witch they were eroded by the current period losses. Tier 2 support rate of

The new European wind atlas

DEFF Research Database (Denmark)

Lundtang Petersen, Erik; Troen, Ib; Ejsing Jørgensen, Hans

2014-01-01

, from insufficient input data to deficient physics and resolution in any of the models, model linking issues, insufficient resolution or errors in surface topographical data such as terrain heights, land cover data etc. Therefore it has been decided on a European Union level to launch a project “The New...... European Wind Atlas” aiming at reducing overall uncertainties in determining wind conditions; standing on three legs: A data bank from a series of intensive measuring campaigns; a thorough examination and redesign of the model chain from global, mesoscale to microscale models and creation of the wind atlas...

Earnings Management in the Banking Industry : The consequences of IFRS implementation on discretionary use of loan loss provisions

NARCIS (Netherlands)

R.J.J. van Oosterbosch (Renick)

2010-01-01

textabstractExecutive summary Prior research suggests that banks have an incentive to smooth income through loan loss provisions (LLPs), but there has been no research on the effects of IFRS implementation on this. Using a sample of European banks and a single-stage regression that models the

[Wide support for oocyte donation and banking in the Netherlands].

Science.gov (United States)

Bos, Annelies M E; Klapwijk, Petra; Fauser, Bart C J M

2012-01-01

To assess the general consensus on the cryopreservation of oocytes and the introduction of oocyte banking facilities in the Netherlands. Poll investigation A poll with the use of an online questionnaire was conducted among nearly 19,000 participants of the Dutch EenVandaag opinion panel in May 2011. The poll results were adjusted to the Dutch population based on data from the Dutch Central Office for Statistics for age, gender, education, marital status, geographical area and political preference (measured according to the lower house elections of 2010). The primary endpoints were the percentages of supporters of oocyte freezing for own future use and of the concept of introducing oocyte banking facilities in The Netherlands. The secondary endpoints were the demographic differences between supporters and opponents. Approximately half of 18.911 participants supported oocyte freezing (47%). Fifty-percent of all participants supported oocyte banking in the Netherlands. Supporters of oocyte freezing were mainly women ≤ 45 years of age, who are highly educated and have no children. Four percent of the participating women aged ≤ 45 years would seriously consider obtaining donor oocytes from an available oocyte banking facility. Twelve percent of the participating women ≤ 45 years of age said they would definitely donate their oocytes or would seriously consider donating. Thirty-seven percent of all participants were against the introduction of oocyte banking facilities. The most important arguments against oocyte freezing were that women should reproduce during normal reproductive years and that it was not medically necessary. Poll results showed much support for oocyte freezing and for the introduction of oocyte banking facilities in the Netherlands. In addition, the poll shows that oocyte banking facilities would fulfil a need in the population.

An introduction to European intergovernmental organizations

CERN Document Server

Cogen, Marc

2015-01-01

An Introduction to European Intergovernmental Organizations provides an up-to-date and accessible reference to European intergovernmental organizations other than the European Union. The EU is so dominant that people often overlook the multitude of older and newer, smaller and larger intergovernmental organizations rooted in the history of contemporary Europe which continue to help shape its future. The specialized character of these organizations adds value to cooperation in Europe as a whole, creates permanent channels of communication regardless of EU membership and allows the possibility for non-European involvement through organizations such as the European Bank for Reconstruction and Development and NATO. It also allows sub regional groups of states, such as the Nordic countries or the Benelux countries to exist and express their own identity via their own organizations. This book looks at the history of Non-EU organizations, their decision-making characteristics, membership policies, legal powers actio...

Comparison between the European Central Bank as a New Monetary Experiment and other Major - Central Banks - US Federal Reserve and Bank of Japan

Directory of Open Access Journals (Sweden)

Tache I.

2014-12-01

Full Text Available Our goal is to make a survey of three major central banks practices and to emphasize both the different national characteristics and the similarities derived from the global changes of financial environment. Using a descriptive methodology, the comparison will concern the central banks’ goals, the institutional and organizational structures, strategies and tools of monetary policy

Neuroprotection as initial therapy in acute stroke - Third report of an Ad Hoc Consensus Group Meeting

NARCIS (Netherlands)

Bogousslavsky, J; De Keyser, J; Diener, HC; Fieschi, C; Hacke, W; Kaste, M; Orgogozo, JM; Pulsinelli, W; Wahlgren, NG

1998-01-01

Although a considerable body of scientific data is now available on neuroprotection in acute ischaemic stroke, this field is not yet established in clinical practice. At its third meeting, the European Ad Hoc Consensus Group considered the potential for neuroprotection in acute stroke and the

THE EFFECTS OF CROSS-BORDER BANK MERGERS AND ACQUISITIONS ON THE PRODUCTIVITY OF CREDIT INSTITUTIONS

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Andreea N. POPOVICI

2014-06-01

Full Text Available The purpose of the current research is to study bank mergers and acquisitions (M-A and to see whether they have implications on the productivity of the target banks, and also for the bidder bank. The aim of this paper is to see if, during 2002-2008 period, three banks from the European banking system, Banca Comerciala Romana from Romania, Slovenskásporiteľňa from Slovakia and Erste Bank Group from Austria improved their productivity due to the fact that all of them were involved in a process of cross-border merger or acquisitions, even if the bank is the purchaser or the target. To reach our goal, we used DEA method, by estimating the productivity achieved by these three banks during the period pre-M-A, post M-A, but we also estimated the productivity for entire period of seven years. Using Malquist DEA method, we show that, on average, the merger or acquisition in which a bank was involved improved the Total Factor Productivity of all analyzed banks.

Banking concentration and developments in FYROM: A country in transition

Directory of Open Access Journals (Sweden)

Nikolas Hourvouliades

2014-12-01

Full Text Available The Former Yugoslav Republic of Macedonia (FYROM belongs to the transition economies that have witnessed significant structural changes in their domestic markets during the 2000s. We examine the evolution of the banking competition from 2003 until 2011, covering the first period of economic growth followed by the acute financial crisis that still threatens European countries. We apply the Herfindahl–Hirschman index and the CR3 and CR5 indicators in order to estimate banking concentration on five industry variables. Our findings show that the market has been persistently operating under oligopolistic, if not monopolistic, conditions where the leading three or five institutions dominate the market. Foreign newcomers and legislative developments have not changed the situation during the past 10 years and bank customers seem to keep their preferences unaffected, staying loyal to their prior choices. We analyze the banking sector profitability since 2008 and during the economic crisis, as well as the operational performance and the future trends concerning this sector.

Clinical practice guidelines for the surgical management of colon cancer: a consensus statement of the Hellenic and Cypriot Colorectal Cancer Study Group by the HeSMO.

Science.gov (United States)

Xynos, Evaghelos; Gouvas, Nikolaos; Triantopoulou, Charina; Tekkis, Paris; Vini, Louiza; Tzardi, Maria; Boukovinas, Ioannis; Androulakis, Nikolaos; Athanasiadis, Athanasios; Christodoulou, Christos; Chrysou, Evangelia; Dervenis, Christos; Emmanouilidis, Christos; Georgiou, Panagiotis; Katopodi, Ourania; Kountourakis, Panteleimon; Makatsoris, Thomas; Papakostas, Pavlos; Papamichael, Demetris; Pentheroudakis, Georgios; Pilpilidis, Ioannis; Sgouros, Joseph; Vassiliou, Vassilios; Xynogalos, Spyridon; Ziras, Nikolaos; Karachaliou, Niki; Zoras, Odysseas; Agalianos, Christos; Souglakos, John

2016-01-01

Despite considerable improvement in the management of colon cancer, there is a great deal of variation in the outcomes among European countries, and in particular among different hospital centers in Greece and Cyprus. Discrepancy in the approach strategies and lack of adherence to guidelines for the management of colon cancer may explain the situation. The aim was to elaborate a consensus on the multidisciplinary management of colon cancer, based on European guidelines (ESMO and EURECCA), and also taking into account local special characteristics of our healthcare system. Following discussion and online communication among members of an executive team, a consensus was developed. Statements entered the Delphi voting system on two rounds to achieve consensus by multidisciplinary international experts. Statements with an agreement rate of ≥80% achieved a large consensus, while those with an agreement rate of 60-80% a moderate consensus. Statements achieving an agreement of colon cancer were subjected to the Delphi methodology. Voting experts were 109. The median rate of abstain per statement was 10% (range: 0-41%). In the end of the voting process, all statements achieved a consensus by more than 80% of the experts. A consensus on the management of colon cancer was developed by applying the Delphi methodology. Guidelines are proposed along with algorithms of diagnosis and treatment. The importance of centralization, care by a multidisciplinary team, and adherence to guidelines is emphasized.

IS THE ROMANIAN BANKING SYSTEM INTEGRATED INTO THE EUROPEAN ONE? A MONEY MARKET PERSPECTIVE

OpenAIRE

LOVIN Horatiu

2012-01-01

The study aims to analyze contagion risk from euro area money market to the Romanian one since the onset of global financial crisis (October 2008). Most banks in Romania are owned by financial institutions located into euro area, resulting in a strong connection between the two banking systems. The empirical results reveal linkages between the euro area money market and the Romanian one, but also partial decoupling during the sovereign debt crisis within euro area, when volatility jumped on e...

Cord blood collection and banking from a population with highly diverse geographic origins increase HLA diversity in the registry and do not lower the proportion of validated cord blood units: experience of the Marseille Cord Blood Bank.

Science.gov (United States)

Bordoni, C; Magalon, J; Gilbertas, C; Gamerre, M; Le Coz, P; Berthomieu, M; Chabannon, C; Di Cristofaro, J; Picard, C

2015-04-01

Several Cord Blood (CB) Bank studies suggested that ethnicity impaired CB unit (CBU) qualification. The Bone Marrow Donors Worldwide registries present an over-representation of unrelated donors (UD) from Northwestern European descent. This raises the question of equality of access to hematopoietic stem cells transplant, especially in the Mediterranean zone, which has taken in many waves of immigration. The aim of our study is to address whether, in the Marseille CB Bank, CBU qualification rate is impaired by geographic origin. The study compared biological characteristics of 106 CBU disqualified for total nucleated cell (TNC) count (dCBU) and 136 qualified CBU in relation to registry enrichment and haplotype origin. A high proportion (>80%) of both dCBU and CBU had at least one non-European haplotype and enrich CB and UD registries to a higher extent than those with two European haplotypes (Pdiverse Mediterranean origins do not have an impact on the CBU qualification rate. Partnership with Mediterranean birth clinics with highly trained staff is a reasonable option to increase the HLA diversity of CB Bank inventories and to improve the representation of minorities.

THE CORPORATE GOVERNANCE IMPACT ON BANKING PERFORMANCE INCREASE

Directory of Open Access Journals (Sweden)

Mariana G. BUNEA

2013-12-01

Full Text Available The Gradual collapse of financial markets in the European Union since the fall of 2008 and economic crises at the credits portfolio level that followed, were generated by the several factors, often interdependent, both macroeconomic and microeconomic level, finally leading to the accumulation of excessive risk in the financial system. This excessive risk was partially caused by the deficiencies in Corporate Governance of the Financial Institutions and the especially banks deficiencies. Even if we can’t put down to the Corporate Governance crisis started, yet nonexistent or inadequacy of effective control mechanisms have determined to the excessive risk-taking by most credit institutions. This article aims to evaluate the application of Corporate Governance principles of the significant players within the Romanian banking system. The research methodology was based essentially on the technique of using the questionnaire, on Corporate Governance documents remarks published on the banks analyzed websites and on the using scoring methods in evaluating the application of Corporate Governance principles.

An attempt to validate the modification of the American-European consensus definition of acute lung injury/acute respiratory distress syndrome by the Berlin definition in a university hospital.

Science.gov (United States)

Hernu, R; Wallet, F; Thiollière, F; Martin, O; Richard, J C; Schmitt, Z; Wallon, G; Delannoy, B; Rimmelé, T; Démaret, C; Magnin, C; Vallin, H; Lepape, A; Baboi, L; Argaud, L; Piriou, V; Allaouchiche, B; Aubrun, F; Bastien, O; Lehot, J J; Ayzac, L; Guérin, C

2013-12-01

The Berlin definition for acute respiratory distress syndrome (ARDS) is a new proposal for changing the American-European consensus definition but has not been assessed prospectively as yet. In the present study, we aimed to determine (1) the prevalence and incidence of ARDS with both definitions, and (2) the initial characteristics of patients with ARDS and 28-day mortality with the Berlin definition. We performed a 6-month prospective observational study in the ten adult ICUs affiliated to the Public University Hospital in Lyon, France, from March to September 2012. Patients under invasive or noninvasive mechanical ventilation, with PaO2/FiO2 Conference and the Berlin definition criteria. The complete data set was measured at the time of inclusion. Patient outcome was measured at day 28 after inclusion. During the study period 3,504 patients were admitted and 278 fulfilled the American-European Consensus Conference criteria. Among them, 18 (6.5 %) did not comply with the Berlin criterion PEEP ≥ 5 cmH2O and 20 (7.2 %) had PaO2/FiO2 ratio ≤200 while on noninvasive ventilation. By using the Berlin definition in the remaining 240 patients (n = 42 mild, n = 123 moderate, n = 75 severe), the overall prevalence was 6.85 % and it was 1.20, 3.51, and 2.14 % for mild, moderate, and severe ARDS, respectively (P > 0.05 between the three groups). The incidence of ARDS amounted to 32 per 100,000 population per year, with values for mild, moderate, and severe ARDS of 5.6, 16.3, and 10 per 100,000 population per year, respectively (P Berlin definition of ARDS. Neither the stratification by severity nor the PaO2/FiO2 at study entry was independently associated with mortality.

Do Europeans Like Nudges?

DEFF Research Database (Denmark)

Reisch, Lucia A.; Sunstein, Cass R.

2016-01-01

In recent years, many governments have shown a keen interest in “nudges” — approaches to law and policy that maintain freedom of choice, but that steer people in certain directions. Yet to date, there has been little evidence on whether citizens of various societies support nudges and nudging. We...... report the results of nationally representative surveys in six European nations: Denmark, France, Germany, Hungary, Italy, and the United Kingdom. We find strong majority support for nudges of the sort that have been adopted, or under serious consideration, in democratic nations. Despite the general...... European consensus, we find markedly lower levels of support for nudges in two nations: Hungary and Denmark. We are not, in general, able to connect support for nudges with distinct party affiliations....

RELATION BETWEEN ISLAMIC BANK AND CENTRAL BANK

OpenAIRE

PAKSOY, H. Mustafa; ABAROSS, Nour

2015-01-01

This study deals with the nature of Islamic banks and their features, and requirements of these features in terms of control tools and methods appropriate with the particularity of their business and their relation with the traditional central bank. At the same time aims to view the relationship between Islamic bank and central bank. To explain this relation the researcher started to explain what is the central bank, objectives of central bank, and characteristics, what is Islamic bank and ob...

Economic and Banking Environment in Romania and E.U.

Directory of Open Access Journals (Sweden)

NICOLETA GEORGETA PANAIT

2016-06-01

Full Text Available The study presents the overall picture of Europe's economic prospects, strained relations within the European area. Also presents the evolution of the banking system in Romania in the context of situations in Europe, which returned to profit and record high levels of solvency and liquidity, while the NPL ratio continued to decline. Due to the difficulty of forecasting medium business, and to the macroeconomic context, banks avoid risk taking associated finance investment projects in the long term, preferring financing in the medium term, so that more than half of home loans granted in Romania are for term funding short and medium.

EFFICIENCY AND STOCK PERFORMANCE OF BANKS IN TRANSITION COUNTRIES: IS THERE A RELATIONSHIP?

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Gülin Vardar

2013-04-01

Full Text Available The study investigates the link between the cost and profit efficiency scores of the banks in the Central and Eastern European Countries as well as Turkey along with their stock price performance to determine whether the efficiency scores are priced accordingly in bank stocks. Changes in efficiency scores of banks, obtained from Stochastic Frontier Analysis (SFA model, are regressed against their stock price performance by applying fixed effects panel regression technique. Empirical results indicate that changes in profit efficiency estimates have a positive and significant impact on stock returns; however, a significant but negative relationship is found between changes in cost efficiency and stock returns.

Determinants of SME Finance: Evidence from Three Central European Countries

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Rahman Ashiqur

2017-09-01

Full Text Available This paper explores the determinants of access to finance for small and medium enterprises (SMEs in the context of three Central European countries: Czech Republic, Slovak Republic, and Hungary. The data set of the research is obtained from the BEEPS survey, which is conducted by the World Bank and the European Bank for Reconstruction and Development. This paper empirically analyses firms not only from the SMEs point of view, but also shows results for micro, small and medium enterprises separately. Additionally, we have analysed the determinants of access to finance for SMEs at each country level for an in-depth understanding of country-level variations in SME financing. The results indicate that micro firms and firms owned and operated by women are experiencing a shortage of credits from banks. On the other hand, we found a positive relationship between the pledge of collateral and access to finance. With respect to the medium firms, we found evidence that innovative firms have a larger amount of credit from banks. The empirical results also suggest that the loan size increases as the interest rates increase in particular for SMEs on the whole and for micro-firms, although the interest rate is in a negative relationship with the loan size in Czech Republic.

The New Development Bank in Global Finance and Economic Architecture

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Alexandra Morozkina

2015-05-01

Full Text Available The article addresses the question whether the New Development Bank (NDB will promote the role of the BRICS countriesin the global financial architecture and foster their development. It begins by comparing the key multilateral developmentbanks (World Bank, Asian Development Bank, African Development Bank and Inter-American Development Bank,European Bank for Reconstruction and Development and national development banks of the BRICS countries with thenewly established institution. The NDB’s purpose is to mobilize resources for infrastructure and sustainable developmentprojects in the member countries. This purpose, as author concludes on the base of the analysis, partly duplicates the workof the existing institutions. However, the NDB could add to the functions of the existing institutions and become a significantdevelopment bank for its members. The best way to achieve this significance is to implement multilateral projects in the areasmentioned above. The article also examines the current role of the BRICS countries in the global financial architecture andthe potential for an increased role, brought by the establishment of the BRICS bank. The founding countries of the NDB willjointly determine the volume and directions of its financial aid. In addition, in contrast to the Bretton Woods institutions,the BRICS countries can change the rules of the development financial aid, particularly the conditions and system formonitoring results. The article concludes that the BRICS countries have created a possible way to change the current systemof development finance and therefore to increase the role of the BRICS countries in the global financial architecture.

Update of the International Consensus on Palliative Radiotherapy Endpoints for Future Clinical Trials in Bone Metastases

Energy Technology Data Exchange (ETDEWEB)

Chow, Edward, E-mail: Edward.Chow@sunnybrook.ca [Department of Radiation Oncology, Odette Cancer Centre, Sunnybrook Health Sciences Centre, University of Toronto, Toronto, ON (Canada); Hoskin, Peter [Mount Vernon Centre for Cancer Treatment, Mount Vernon Hospital, Northwood, Middlesex (United Kingdom); Mitera, Gunita; Zeng Liang [Department of Radiation Oncology, Odette Cancer Centre, Sunnybrook Health Sciences Centre, University of Toronto, Toronto, ON (Canada); Lutz, Stephen [Department of Radiation Oncology, Blanchard Valley Regional Cancer Center, Findlay, OH (United States); Roos, Daniel [Department of Radiation Oncology, Royal Adelaide Hospital, Adelaide, South Australia (Australia); Hahn, Carol [Department of Radiation Oncology, Duke University Medical Center, Durham, NC (United States); Linden, Yvette van der [Radiotherapeutic Institute Friesland, Leeuwarden (Netherlands); Hartsell, William [Department of Radiation Oncology, Advocate Good Samaritan Cancer Center, Downers Grove, IL (United States); Kumar, Eshwar [Department of Oncology, Atlantic Health Sciences Cancer Centre, Saint John Regional Hospital, Saint John, NB (Canada)

2012-04-01

Purpose: To update the international consensus on palliative radiotherapy endpoints for future clinical trials in bone metastases by surveying international experts regarding previous uncertainties within the 2002 consensus, changes that may be necessary based on practice pattern changes and research findings since that time. Methods and Materials: A two-phase survey was used to determine revisions and new additions to the 2002 consensus. A total of 49 experts from the American Society for Radiation Oncology, the European Society for Therapeutic Radiology and Oncology, the Faculty of Radiation Oncology of the Royal Australian and New Zealand College of Radiologists, and the Canadian Association of Radiation Oncology who are directly involved in the care of patients with bone metastases participated in this survey. Results: Consensus was established in areas involving response definitions, eligibility criteria for future trials, reirradiation, changes in systemic therapy, radiation techniques, parameters at follow-up, and timing of assessments. Conclusion: An outline for trials in bone metastases was updated based on survey and consensus. Investigators leading trials in bone metastases are encouraged to adopt the revised guideline to promote consistent reporting. Areas for future research were identified. It is intended for the consensus to be re-examined in the future on a regular basis.

Update of the International Consensus on Palliative Radiotherapy Endpoints for Future Clinical Trials in Bone Metastases

International Nuclear Information System (INIS)

Chow, Edward; Hoskin, Peter; Mitera, Gunita; Zeng Liang; Lutz, Stephen; Roos, Daniel; Hahn, Carol; Linden, Yvette van der; Hartsell, William; Kumar, Eshwar

2012-01-01

Purpose: To update the international consensus on palliative radiotherapy endpoints for future clinical trials in bone metastases by surveying international experts regarding previous uncertainties within the 2002 consensus, changes that may be necessary based on practice pattern changes and research findings since that time. Methods and Materials: A two-phase survey was used to determine revisions and new additions to the 2002 consensus. A total of 49 experts from the American Society for Radiation Oncology, the European Society for Therapeutic Radiology and Oncology, the Faculty of Radiation Oncology of the Royal Australian and New Zealand College of Radiologists, and the Canadian Association of Radiation Oncology who are directly involved in the care of patients with bone metastases participated in this survey. Results: Consensus was established in areas involving response definitions, eligibility criteria for future trials, reirradiation, changes in systemic therapy, radiation techniques, parameters at follow-up, and timing of assessments. Conclusion: An outline for trials in bone metastases was updated based on survey and consensus. Investigators leading trials in bone metastases are encouraged to adopt the revised guideline to promote consistent reporting. Areas for future research were identified. It is intended for the consensus to be re-examined in the future on a regular basis.

An Empirical Analysis of Impact of E-commerce on Banking Industry in China

OpenAIRE

Jiang, Bo

2010-01-01

In recent years, e-commerce grows rapidly in the whole world. In the United State and European countries, e-commerce has become a significant financial service channel and played an irreplaceable role comparing with traditional banking. In these ten years, the banking industry in China has begun to implement e-commerce in order to serve their customers better. The implementation of e-commerce has changed people’s understanding of financial issues. Meanwhile, e-commerce brings new profit point...

Is shadow banking really banking?

OpenAIRE

Bryan J. Noeth; Rajdeep Sengupta

2011-01-01

To those who don't know, the term "shadow banking" probably has a negative connotation. This primer draws parallels between what has been termed the shadow banking sector and the traditional banking sector—showing that they are similar in many ways.

L'attività internazionale delle banche italiane: una sintesi degli ultimi dieci anni (The International Activity of Italian Banks: A Synthesis of the Last Ten Years

Directory of Open Access Journals (Sweden)

Riccardo De Bonis

2012-04-01

Full Text Available This paper examines the developments of the Italian banking system during the Nineties from two related points of view: net external position and degree of internationalisation, i.e. branches and subsidiaries abroad. These themes seem particularly interesting in the light of the widespread belief that the euro area will significantly increase banking competition and cross-border operations in coming years. We find two major forces driving banks' external net position: the growth in loans to domestic borrowers and the convergence in interest rate levels across European countries. The development of foreign branches and subsidiaries has been influenced by two counterbalancing forces; the big banking groups reduced their presence abroad while some medium-sized banks opened their first branches; the focus of foreign branches and subsidiaries has been on specific segments of banking activities, very often exploiting "localization" advantages. Despite the improvement in the Nineties, Italian banks have tended to show a relatively low degree of internationalisation compared with the main European banking system.              JEL Codes: G21, F23Keywords: Bank, Banking

Assessment of dementia in ethnic minority patients in Europe: a European Alzheimer's Disease Consortium survey

DEFF Research Database (Denmark)

Nielsen, T Rune; Vogel, Asmus; Riepe, Matthias W

2011-01-01

In most European countries the ethnic minority migrant populations are currently reaching an age where dementia becomes an increasingly important issue. There is no European consensus on good clinical practice with these patient groups, who often have special needs and expectations with regard...... to dementia services....

BANK RUN AND STABILITY OF ISLAMIC BANKING IN INDONESIA

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Rahmatina A. Kasri

2017-08-01

Full Text Available Bank run is an important economic phenomenon which increasingly occurred in in modern banking system and potentially threatened banking stability as it could trigger a banking crisis. However, most studies related to bank run focus on the occurrence of bank run in conventional banking system. Very few of them discuss the bank run phenomenon under Islamic banking system or dual banking system where Islamic banks jointly operating with conventional banks. Therefore, this study attempts to analyze the determinants of bank run in the Indonesian Islamic banking industry by employing primary data from 256 customers of Indonesia Islamic banks in 2015 and by utilizing factor analysis and descriptive statistics. In theory, Islamic banks tend to be more resilient towards any macroeconomic or financial shocks as compared to conventional banks due to the nature of its asset-based and risk-sharing arrangement. However, the result exhibits that both psychological and fundamental factors (i.e. macroeconomics and bank fundamentals strongly influence the behaviors of Islamic banking depositors to withdraw their funds, which might trigger the occurrence of bank runs in the country. Insider information, macroeconomic condition and bank fundamental factors are also shown to have the highest impacts among all variables. Hence, in the context of banking stability, the finding implies that Islamic banks are not completely immune to the impacts of macroeconomic shocks or financial crisis. As a country with a dual banking system, Indonesia had experienced several bank runs since 1990s. Therefore, the findings of the study should provide the policy makers important insight into research based-policy in order to attain financial stability as one of the main economic goals of the country. Keywords: Bank run, Islamic bank, Factor analysis, Indonesia JEL Classification: C83, G21, G28

About the affirmation of a community of European values

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Caroline GUIBET LAFAYE

2012-02-01

Full Text Available Beyond the political and economical agreements, the European Union aims at becoming a moral community, shaped and unified by shared values. The treaty on the European Union has recently restated these values. Nevertheless in the national States as well as in the firontiers of the European Union, some disagreements are still with us about predominant values such as well-being, fireedom, the satisfaction of fundamental needs, and their interpretations. Although the promotion of cominon European values relies on political reasons, this quest is aporetical. On the opposite we underline the necessity to find and design constitutional arrangements that allow people to live together, within the frontiers of the European Union, with their moral disagreements, a far cry firom a moral consensus on values and absent shared coramon values.

To Create a Consensus on Malnutrition Diagnostic Criteria.

Science.gov (United States)

Cederholm, Tommy; Jensen, Gordon L

2017-03-01

During the European Society for Clinical Nutrition and Metabolism (ESPEN) Congress in Copenhagen, Denmark (September 2016), representatives of the 4 largest global parenteral and enteral nutrition (PEN) societies from Europe (ESPEN), the United States (American Society for Parenteral and Enteral Nutrition [ASPEN]), Asia (Parenteral and Enteral Nutrition Society of Asia [PENSA]), and Latin America (Latin American Federation of Parenteral and Enteral Nutrition [FELANPE]) and from national PEN societies around the world met to continue the conversation on how to diagnose malnutrition that started during the Clinical Nutrition Week, Austin, Texas (February 2016). Current thinking on diagnostic approaches was shared; ESPEN suggested a grading approach that could encompass various types of signs, symptoms, and etiologies to support diagnosis. ASPEN emphasized where the parties agree; that is, that the 3 major published approaches (ESPEN, ASPEN-Academy of Nutrition and Dietetics, and Subjective Global Assessment [SGA]) all propose weight loss as a key indicator for malnutrition. FELANPE suggested that the anticipated consensus approach needs to prioritize a diagnostic method that is available for everybody since resources differ globally. PENSA highlighted that body mass index varies by ethnicity/race and that sarcopenia/muscle mass evaluation is important for the diagnosis of malnutrition. A Core Working Committee of the Global Leadership Initiative on Malnutrition has been established (comprising 2 representatives each from the 4 largest PEN societies) that will lead consensus development in collaboration with a larger working group with broad global representation, using e-mail, telephone conferences, and face-to-face meetings during the upcoming ASPEN and ESPEN congresses. Transparency and external input will be sought. Objectives include (1) consensus development around evidence-based criteria for broad application, (2) promotion of global dissemination of the

Simulating Retail Banking for Banking Students

Science.gov (United States)

Supramaniam, Mahadevan; Shanmugam, Bala

2009-01-01

The purpose of this study was to examine the implementation flow and development of retail bank management simulation based training system which could provide a comprehensive knowledge about the operations and management of banks for the banking students. The prototype of a Retail banking simulation based training system was developed based on…

The preconditions for achieving consensus in the context of technological risk

International Nuclear Information System (INIS)

Pearce, D.W.

1980-01-01

The two essential ingredients in consensus are information supplied to a public wider than the professional elites, and the politicization of the issue. The information process should consist of the presentation of facts not just about technology but about the institutional means for controlling it. The European Commission might have a special role to play as the generator of such information, as the medium for drawing up comparisons of standards and means of control between countries. (DG)

Bank Diversification Effects on Bank Performance and Risk Profile of Bank in Indonesia

Directory of Open Access Journals (Sweden)

Anthony Lukmawijaya

2015-05-01

Full Text Available We investigate the relationship of Indonesian bank diversification towards its long term performance and risk profile with Indonesian bank data from 2009 to 2013. Non-interest income to total operating income of the bank measures its bank diversification level. Bank value is measured by the adjusted Tobin's Q and risk profile which is broken down into total risk, idiosyncratic risk, and systematic risk. The result shows that bank non-interest income diversification has a positive influence on its franchise value. There is, however, no strong evidence that diversification can lower a bank's risk profile.

Denying Foreign Bank Entry: Implications For Bank Interest Margins

OpenAIRE

Ross Levine

2003-01-01

This paper examines the impact of restricting foreign bank entry on bank net interest margins while controlling for (a) impediments to domestic bank entry, (b) the degree of foreign bank ownership of the domestic banking industry, (c) an array of bank-specific characteristics, (c) banking sectorconcentration, and (d) various country traits. Using data on almost 1200 banks across 47 countries, the results suggest that restricting foreign bank entry boosts bank net interest margins. Also, restr...

E-BANKING- MODERN BANKING SERVICES

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MIRANDA PETRONELLA VLAD

2009-05-01

Full Text Available E-banking is the first of those banking services that really economize time, because it allows to the user to accomplish from behind the computer many operations in the bank account, represents the computational solution that allows to the holder to have

European Reliability Data System: main developments and use

International Nuclear Information System (INIS)

Amesz, J.; Capobianchi, S.; Kalfsbeek, H.W.; Mancini, G.

1985-01-01

The paper revises the aims and objectives of the European Reliability Data System (ERDS), a centralized system collecting and organizing information related to the operation of light water reactors. The paper first describes the recent developments of the four data banks constituting the system: Component Event Data Bank, Abnormal Occurrences Reporting System, Operating Unit Status Report and Reliability Parameters Data Bank. Then several issues are discussed referring mostly to the status of classification schemes and their use, to the operation of the banks (data input and transcoding) and to the retrieval and utilization of the information; in this latter case particularly the analysis potential of the data collection scheme of the AORS (Abnormal Occurrences Reporting System) is demonstrated. Finally, emphasis is given to the increasing role which artificial intelligence techniques such as natural language and expert systems and fuzzy logic may play in improving the future capabilities of the system

THE SOUNDNESS OF THE BANKING SYSTEM DURING THE GLOBAL FINANCIAL CRISIS

Directory of Open Access Journals (Sweden)

Ioana-Iuliana TOMULEASA

2014-04-01

Full Text Available The economic world is currently under the sign of profound changes, determined, in a significant extent, by the mutations in financial markets, the regulatory and institutional changes, illustrating its powerful impact on the financial system actors. The paper’s main purpose is to provide a comparative analysis of the performance and efficiency of commercial banks in seven European Union countries and an empirical analysis regarding the soundness of the Romanian banking system. The analysis undertaken in the paper highlights the need for banks to apply essential adjustments in their activity, such as the orientation to a new banking model, or the gearing to the latest regulations and tighter conditions of supervision on the financial sector. There were pointed out a series of issues which captured the overwhelming implications of the global financial crisis on the “health” of the financial system in EU, noticing the need for further measures that have as a main goal the avoidance of a financial system collapse.

Internet Banking integration within the banking system

Directory of Open Access Journals (Sweden)

Constantin Marian MATEI

2008-01-01

Full Text Available Internet Banking developed due to increasing demand of online banking transactions. The biggest advantages of Internet Banking consist of complex banking solutions, 24 hours availability, quick and secure access to the back-end application through Internet. These advantages are due to the use of SOA (service-oriented architecture. SOA appeared as a necessity of companies to integrate big and independent portions of applications, in order to obtain an homogeneous functionality of the system. For the Internet Banking applications, SOA proved to be the optimal architectural solution, for a smoth integration between banking services from the front-end to the back-end.This paper intend to offer an insite analyse of the Internet Banking applications architecture integrated with other banking systems. A SOA oriented analyse will establish the scope of the integration architecture.

Financial Supervision and Banking Competition in European Union

OpenAIRE

Ovidiu Stoica; Roxana Scantee

2012-01-01

An increasing number of countries are reviewing their financial supervisory structures and show a trend of consolidation in financial supervision. Using a sample of 27 countries from European Union, we find that the dependent variables taken into consideration (Herfindahl-Hirschman index and share of the five largest credit institutions in total assets) have no significant effects on different types of supervisory integration. In addition, there aren’t any differences in the impact of distinc...

For whom and for what the definition of severe dementia is useful: an EDCON consensus.

Science.gov (United States)

Byrne, E J; Benoit, M; Lopez Arrieta, J M; Geraldi, C; Koopmans, R; Rolland, Y; Sartorius, N; Stoppe, G; Robert, P

2008-12-01

The European Dementia Consensus Network (EDCON) is a special project of the Madariaga Foundation located in Brussels. The Madariaga Foundation seeks to facilitate collaboration between European countries and between the public and private sector. This paper will review the differences in the definitions of Severe Dementia and summarise the EDCON consensus on their implications for management. EDCON recommends that:--The attributes of the person suffering from dementia should be given as much attention (and are as important for care) as the severity of cognitive decline in dementia;--The dementia syndrome (particularly in it's severe form) is inadequately defined by criteria which only includes the domain of cognition;--Physical, legal, social and cultural factors defining the environment of patients and their families should be carefully examined and that the results of this examination should be used in conjunction with the results of the somatic and psychiatric assessment in planning care and placement of the patient;--patients with severe dementia should have access to palliative care; - family members should be included in the care plans for those with severe dementia who are in institutional care.

Interest Free Banking in Nigeria - Welcome Islamic Banking ...

African Journals Online (AJOL)

Interest Free Banking in Nigeria - Welcome Islamic Banking; Welcome Christian Banking. ... banks pay interest on deposits, and charge interest on loans and advances, ... However, the literature on interest rates, in relation to Commercial Bank ...

Implementing business continuity management systems and sharing best practices at a European bank.

Science.gov (United States)

Aronis, Stelios; Stratopoulos, Georgios

2016-01-01

This paper provides an overview of the methodology applied by the Alpha Bank Group in order to implement a business continuity management (BCM) programme to its parent company (Alpha Bank SA), as well as to its subsidiaries in Albania, Bulgaria, Cyprus, Former Yugoslav Republic of Macedonia, Greece, Romania, Serbia, UK and Ukraine. It also reviews the problems faced, how they were overcome and the lessons learned. When implementing a BCM programme in a large organisation, it is very important to follow the methodology described by BCM standard ISO 22301, otherwise the business continuity plan is unlikely to work efficiently or comply with the business recovery requirements, as well as with the requirements of other interested parties, such as customers, regulatory authorities, vendors, service providers, critical associates, etc.

The Impact of Basel III Indexes of Leverage and Liquidity CRDIV/CRR on Bank Performance: Evidence from Greek Banks

OpenAIRE

Maria, Psillaki; Eleftheria, Georgoulea

2016-01-01

The recent global financial crisis (GFC) of 2007-2008 revealed several critical shortcomings in the existing Basel II international banking supervisory framework. The Basel Committee adopted a set of reform measures inclusive of additional solvency and liquidity rules, known as "Basel III". Through a new Directive and Regulation known as the CRD IV and CRR package, the European Union implemented Basel III in January 2014. We investigate the effects of the new liquidity and leve...

Challenges of the Banking Integration Process in the Case of the New EU Member States

Directory of Open Access Journals (Sweden)

Dan Chirlean

2011-04-01

Full Text Available The creation of the single European market represents a 50 years long process which aimsat developing the most advanced economy in the world. In order to achieve this, political actions mustbe accompanied by economical and juridical changes in order to stimulate and foster the creation ofthe single European market. A key component of this process is represented by the integration of thefinancial sector. While several component of it have registered major transformations andachievements in the integration process, one of the least integrated parts is represented by theEuropean banking sector. Most of the European economies are funded directly through the bankingsector, thus the integration of this sector represents a major benchmarks in the European integrationprocess. This problem becomes more complex in the context of the European Union enlargement to27 member states. Thus, the aim of this paper is to underline the progresses achieved by the bankingsectors of the European Union new member states from Central and Eastern Europe in theirintegration process. In order to achieve this we will use an empirical analysis based on the Law of OnePrice, which will underline the progress made by the banking sectors of the panel countries: Poland,Czech Republic, Slovenia, Slovakia, Romania and Bulgaria. The results of the research will providean overview of the main achievements registered by these countries, while also underling hownational particularities of these sectors affect their integration.

Impact of E-Banking on Traditional Banking Services

OpenAIRE

Vyas, Shilpan Dineshkumar

2012-01-01

Internet banking is changing the banking industry, having the major effects on banking relationships. Banking is now no longer confined to the branches were one has to approach the branch in person, to withdraw cash or deposit a cheque or request a statement of accounts. In true Internet banking, any inquiry or transaction is processed online without any reference to the branch (anywhere banking) at any time. Providing Internet banking is increasingly becoming a "need to have" than a "nice to...

Pengaruh Kualitas Layanan Mobile Banking (M-Banking Terhadap Kepuasan Nasabah di Indonesia [Effect of Mobile Banking (M-Banking Service Quality on Customer Satisfaction in Indonesia

Directory of Open Access Journals (Sweden)

Aditya Wardhana

2015-09-01

Full Text Available The research aim was to assess the influence of the service quality of mobile banking (m-banking against customer satisfaction at the greatest banks in Indonesia. Elements of the quality of mobile banking services (m-banking were speed, security, accuracy, and trust. The population of this study was bank customers from eight of the greatest bank in Indonesia -- Bank Mandiri, Bank BRI, Bank BCA, Bank BNI, Bank CIMB Niaga, Bank Danamon, Bank Permata, and Bank Panin -- who used mobile banking which totaled 19.9 million customers with the size of the sample being 400 respondents. The sampling method used nonprobability sampling by incidental sampling. The results by using a structural equation modeling (SEM found significant influences between service quality of mobile banking (m-banking partially and simultaneously to customer satisfaction.

Supervisory arrangements, LOLR and crisis management in a single European banking market

NARCIS (Netherlands)

Boot, A.W.A.

2006-01-01

In this paper I discuss some key issues related to supervisory arrangements in the EMU countries, and particularly those relating to the LOLR structure and crisis management. The focus will be on the responsibilities and powers of individual countries (and national central banks) vis-à-vis those at

MERGERS, ACQUISITIONS AND BANKING CONSOLIDATION IN CENTRAL AND EASTERN EUROPE

Directory of Open Access Journals (Sweden)

Andreea Nicoleta Popovici

2013-12-01

Full Text Available Acquisitions and mergers are the growth and expansion strategies that are commonly used by the companies in all over the world because of several reasons such as increasing the profit, sales and market share, entering into new markets, operating with economics of scale, coping with managerial problems and so on. This article underlines the characteristics of mergers and acquisitions (M&A, the different types of M&A, the challenges and opportunities for the banking system in Central and Eastern Europe and we analyze the implications of the recently observed sharp expansion of foreign banks in the Central and Eastern European Countries.

Wave basin model tests of technical-biological bank protection

Science.gov (United States)

Eisenmann, J.

2012-04-01

Sloped embankments of inland waterways are usually protected from erosion and other negative im-pacts of ship-induced hydraulic loads by technical revetments consisting of riprap. Concerning the dimensioning of such bank protection there are several design rules available, e.g. the "Principles for the Design of Bank and Bottom Protection for Inland Waterways" or the Code of Practice "Use of Standard Construction Methods for Bank and Bottom Protection on Waterways" issued by the BAW (Federal Waterways Engineering and Research Institute). Since the European Water Framework Directive has been put into action special emphasis was put on natural banks. Therefore the application of technical-biological bank protection is favoured. Currently design principles for technical-biological bank protection on inland waterways are missing. The existing experiences mainly refer to flowing waters with no or low ship-induced hydraulic loads on the banks. Since 2004 the Federal Waterways Engineering and Research Institute has been tracking the re-search and development project "Alternative Technical-Biological Bank Protection on Inland Water-ways" in company with the Federal Institute of Hydrology. The investigation to date includes the ex-amination of waterway sections where technical- biological bank protection is applied locally. For the development of design rules for technical-biological bank protection investigations shall be carried out in a next step, considering the mechanics and resilience of technical-biological bank protection with special attention to ship-induced hydraulic loads. The presentation gives a short introduction into hydraulic loads at inland waterways and their bank protection. More in detail model tests of a willow brush mattress as a technical-biological bank protec-tion in a wave basin are explained. Within the scope of these tests the brush mattresses were ex-posed to wave impacts to determine their resilience towards hydraulic loads. Since the

An empirical research on evaluating banks' credit assessment of corporate customers.

Science.gov (United States)

Tsai, Sang-Bing; Li, Guodong; Wu, Chia-Huei; Zheng, Yuxiang; Wang, Jiangtao

2016-01-01

Under the rapid change of the global financial environment, the risk control of the credit granting is viewed as the foremost task to each bank. With the impact one by one from financial crisis and European debt crisis, the steady bank business is also facing the severe challenge. Banks approve the credits for their customers and then make money from the interest. Credit granting is not only the primary job but also the main source of income. The quality of credit granting concerns not just the reclaims of creditor's rights; it also affects the successful running of banks. To enhance the reliability and usefulness of bank credit risk assessment, we first will delve in the facets and indexes in the bank credit risk assessment. Then, we will examine the different dimensions of cause-effect relationships and correlations in the assessment process. Finally, the study focuses on how to raise the functions and benefits of the bank credit risk assessment. In those five credit risk evaluation dimensions, A "optional capability" and D "competitiveness" are of high relation and high prominence among those dimensions, influencing other items obviously. By actively focusing on these two dimensions and improving their credit risk assessment ability will solve the foremost problems and also solve other facets of credit risk assessment problems at the same time.

 Bank sustainability reporting within GRI-G4 Framework

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Ana Kundid Novokmet

2016-09-01

Full Text Available Sustainability accounting, with its final output – sustainability reporting, is a new field of accounting focused on evaluating and following up activities regarding a firm’s governance, environmental issues and social inclusion and interaction. Among several standardized frameworks, companies worldwide often choose the Global Reporting Initiative (GRI Sustainability Reporting Guidelines. Since the year 2000, GRI Guidelines have evolved and currently the fourth generation is in use. The aim of this study is to assess the latest form of sustainability reporting within an integrated report in the banking industry using the UniCredit Group, which operates in 15 countries, as an example. Sustainability reporting will soon become mandatory in the European Union (EU for large companies, listed companies and publicinterest entities (e.g. banks with an average of at least 500 employees, starting from the year 2018 (for activities in 2017. This paper is focused on a content analysis of the recent bank sustainability reporting with a critical review on this matter.

THE ADEQUACY OF THE CAPITAL - CENTRAL OBJECTIVE OF PERFORMANCE MANAGEMENT AND BANKING RISK

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LOREDANA CIURLĂU

2016-08-01

Full Text Available The main objective of this work is to highlight the role that the methods and techniques for the management of banking risks have in internal process the capital adequacy at risk in the future and to reflect the continued growth of the banking risks in the contemporary age, in conjunction with the intensification of cooperation that led to the internationalizing of regulations, within the meaning of the development of national rules in accordance with the principles accepted by several countries, the kind of international groups of studies organized by the Bank for International Settlements the Basel Convention or the application of Community rules, drawn up in the form of the Directives of the European Communities. The work has the research field the theoretical and practical aspects of the completion of the internal process the capital adequacy at risk in banks.

Challenges of the Central Banks in the Post Crisis Period when Needed to Ensure the Financial Stability

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Anisoara Niculina APETRI

2016-09-01

Full Text Available The concerns of the European and domestic monetary authorities to reform the current regulatory but also supervisory framework became our main reason to achieve this scientific approach. The international financial crisis has generated important dysfunctions at the level of the main activity of central banks but also at the level of the objectives that these banks should meet. Thereby, if most central banks have normally pursued the objective clearly stated in their mandate as "price stability", nowadays they are trying to achieve the "financial stability". Thus the main objective of this study particularly concerns: highlighting the role of central banks in ensuring the financial stability; and analyzing the challenges of the central banks after the financial crisis.

Factors influencing bank geomorphology and erosion of the Haw River, a high order river in North Carolina, since European settlement.

Science.gov (United States)

Macfall, Janet; Robinette, Paul; Welch, David

2014-01-01

The Haw River, a high order river in the southeastern United States, is characterized by severe bank erosion and geomorphic change from historical conditions of clear waters and connected floodplains. In 2014 it was named one of the 10 most threatened rivers in the United States by American Rivers. Like many developed areas, the region has a history of disturbance including extensive upland soil loss from agriculture, dams, and upstream urbanization. The primary objective of this study was to identify the mechanisms controlling channel form and erosion of the Haw River. Field measurements including bank height, bankfull height, bank angle, root depth and density, riparian land cover and slope, surface protection, river width, and bank retreat were collected at 87 sites along 43.5 km of river. A Bank Erosion Hazard Index (BEHI) was calculated for each study site. Mean bank height was 11.8 m, mean width was 84.3 m, and bank retreat for 2005/2007-2011/2013 was 2.3 m. The greatest bank heights, BEHI values, and bank retreat were adjacent to riparian areas with low slope (<2). This is in contrast to previous studies which identify high slope as a risk factor for erosion. Most of the soils in low slope riparian areas were alluvial, suggesting sediment deposition from upland row crop agriculture and/or flooding. Bank retreat was not correlated to bank heights or BEHI values. Historical dams (1.2-3 m height) were not a significant factor. Erosion of the Haw River in the study section of the river (25% of the river length) contributed 205,320 m3 of sediment and 3759 kg of P annually. Concentration of suspended solids in the river increased with discharge. In conclusion, the Haw River is an unstable system, with river bank erosion and geomodification potential influenced by riparian slope and varied flows.

Role of Foreign Banks in Integration of Banking Industry

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Roman Šubić

2009-12-01

Full Text Available Dynamic development of financial industry in some last ten years that, considering the kind of financial agents, remained bank-oriented represents a suficient reason to investigate the causes that brought to the present structure of banking system. After having presented theoretical bases of the integration forms and banks connection, the paper analyzes the influence of foreign banks on the development of Croatian bank system. Thus, beside the knowledge of quantitative changes in the banking system, the paper researched the motivations of the banks regarding integration that, among other things, brought to creating the effects of scale and scope economies. However, the concentrations among banks can lead to creation of negative externalities that later become potential dangers for the banking. Pre-cognitions on development of banking system are used to create projection of future banking development while the data basis of the countries from the region enabled the comparative analysis of banks integration in these countries. The conclusion is that the foreign banks have been the largest promoters of bank integration in the Republic of Croatia contributing also to qualitative development of banking market and to deepening of financial market spectrum.

European Community initiatives and experience in scientific and technical information

International Nuclear Information System (INIS)

Steven, G.

1990-05-01

Scientific and technical information (STI) is an increasingly important resource for R and D and industrial development. The rapid development of the market for electronic information and the increasing potential offered through new information technologies require new approaches for the collection and dissemination of STI. Activities of the Commission of the European Communities (CEC) in this area are reviewed. More recent CEC initiatives in the areas of biotechnology information and factual materials data banks have proved the need for international collaboration and for the implementation of infrastructural measures as a basis for such collaboration. The implementation of the EC Demonstrator Programme on materials property data systems has evaluated the potential of eleven European materials data banks against the market requirements and has helped to launch wide international collaboration. The concluding European workshop on materials data systems has developed a set of recommendations for future initiatives. These are shortly reviewed together with initial findings of a study aimed at developing a business plan for the establishment of a biotechnology information infrastructure for the bio-industries and research base in Europe. (author). 3 refs

European Community initiatives and experience in scientific and technical information

Energy Technology Data Exchange (ETDEWEB)

Steven, G [Commission of the European Communities, Luxembourg (Luxembourg)

1990-05-01

Scientific and technical information (STI) is an increasingly important resource for R and D and industrial development. The rapid development of the market for electronic information and the increasing potential offered through new information technologies require new approaches for the collection and dissemination of STI. Activities of the Commission of the European Communities (CEC) in this area are reviewed. More recent CEC initiatives in the areas of biotechnology information and factual materials data banks have proved the need for international collaboration and for the implementation of infrastructural measures as a basis for such collaboration. The implementation of the EC Demonstrator Programme on materials property data systems has evaluated the potential of eleven European materials data banks against the market requirements and has helped to launch wide international collaboration. The concluding European workshop on materials data systems has developed a set of recommendations for future initiatives. These are shortly reviewed together with initial findings of a study aimed at developing a business plan for the establishment of a biotechnology information infrastructure for the bio-industries and research base in Europe. (author). 3 refs.

Analisis Perbandingan Bank Umum Konvensional Dan Bank Umum Syariah

OpenAIRE

Nuryati; Gendis Gumilar, Amethysa

2011-01-01

This study analyzes and compares the financial risk of the two types of commercial banks, namely conventional commercial bank and Islamic commercial bank. Analysis tools used in this study is to use financial ratios and dicriminant values (Z values). Analysis showed that the ratio of liquidity and solvability ratios higher islamic commercial bank than conventional commercial bank. Z values higher islamic commercial bank than conventional commercial bank. The commercial banks are in a state of...

European Retail Payments Market: New Opportunities to Mergers and Acquisition Transactions

Directory of Open Access Journals (Sweden)

Lina Novickytė

2011-04-01

Full Text Available Most of European banks will not be able to allocate funds successfully participating in the SEPA. Some of them have to look for opportunities to reduce the cost in collaboration with other institutions in the execution of the payment or provision of services to carry out transmission of the third party. The other part will have to find a merger partner. In future there can be more active participants in the market lead to acquisitions. In order to assess possible changes in the payment market, noted that its participants – service providers – consolidation will be inevitable. The assessment of the Lithuanian bank sector shows that banks with the parent banks that invest and develop the activities of subsidiaries of banks, are likely to remain in the market. However, banks that are not ready to participate and get involved in a single market, will be taken over or disappear.Article in Lithuanian

Is banking supervision central to central banking?

OpenAIRE

Joe Peek; Eric S. Rosengren; Geoffrey M. B. Tootell

1997-01-01

Whether central banks should play an active role in bank supervision and regulation is being debated both in the United States and abroad. While the Bank of England has recently been stripped of its supervisory responsibilities and several proposals in the United States have advocated removing bank supervision from the Federal Reserve System, other countries are considering enhancing central bank involvement in this area. Many of the arguments for and against these proposals hinge on the effe...

BANK MERGERS AND ACQUISITIONS IN ROMANIA AFTER 1989

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Copil Crina Angela

2014-07-01

Full Text Available In this paper I proposed to myself to analyse the main bank acquisitions and mergers from Romania after 1989, causes that led to their appearance, their effects on the bank system and their future perspectives on the Romanian bank market. In the context of adherence to the European bank system a solution for the Romanian banks is the concentration of the bank system by mergers and acquisitions or the increase of the bank capitals because in the period of transition the smaller banks are vulnerable, don’t dispose of an infrastructure that would alow them to offer financial services comparable to those offered by the great bank groups, can’t offer large credits and is addressing to the smaller and average enterprise, which in their turn are exposed to all the shocks that are felt in the economy. The strategies of concentration and consolidation applied by the banks in this period implemented by the transactions with mergers and acquisitions are essential because of their success depends the existence of the bank, the rank it will have on the market, the profit of the bank, the efficiency, the increase of the satisfaction degree of the clients and the increase of the shares’ value. The increase of the interest of the investor in mergers and acquisitions determined the creating of the great financial conglomerates that offer a large range of services, operates simultaneously on many markets and include beside the bank activity insurance, leasing subsidiaries, investment funds, pension funds, subsidiaries specialized in credit saving. In the last decades the Romanian bank financial system suffered significant changes, registering an ample consolidation process, the number of bank institutions decreased and in the context of the present financial crisis, the continuing of the process of restructuring is anticipated.The main reason for choosing this subject if the fact that in the evolution of the concentration the bank mergers and acquisitions

Competencies of specialised wound care nurses : a European Delphi study

NARCIS (Netherlands)

Eskes, Anne M; Maaskant, Jolanda M; Holloway, Samantha; van Dijk, Nynke; Alves, Paulo; Legemate, Dink A; Ubbink, Dirk T; Vermeulen, Hester

2014-01-01

Health care professionals responsible for patients with complex wounds need a particular level of expertise and education to ensure optimum wound care. However, uniform education for those working as wound care nurses is lacking. We aimed to reach consensus among experts from six European countries

Competencies of specialised wound care nurses: a European Delphi study

NARCIS (Netherlands)

Eskes, Anne M.; Maaskant, Jolanda M.; Holloway, Samantha; van Dijk, Nynke; Alves, Paulo; Legemate, Dink A.; Ubbink, Dirk T.; Vermeulen, Hester

2014-01-01

Health care professionals responsible for patients with complex wounds need a particular level of expertise and education to ensure optimum wound care. However, uniform education for those working as wound care nurses is lacking. We aimed to reach consensus among experts from six European countries

The Interaction between American and European IRS Interest Rates

Directory of Open Access Journals (Sweden)

Verga Giovanni

2018-03-01

Full Text Available European interest rates movements are affected by various internal and external factors. This paper studies the link between European and American short- and long-term interest rates. In particular, we consider the forward interest rates coming from euro and dollar IRS term structures. The econometric techniques employed are co-integration, Granger-causality, OLS and GMM. Our results indicate that European remote settlement forward and long-term interest rates are primarily driven by US rates and confirm that the causality acts mainly from the US to the Eurozone. This was true even during the recent periods of European Central Bank quantitative easing. These factors weaken the ECB’s ability to intervene. In fact, we found the impact of American monetary policy on long-term interest rates to be also relevant for European bonds.

Elite Decision Makers’ Strategic Use of European Integration and Globalisation Discourses

DEFF Research Database (Denmark)

Lynggaard, Kennet

2013-01-01

This article investigates decision makers’ strategic use of European integration and globalisation discourses to justify and coordinate national sector reforms. This is done using the example of banking sector reforms in two small European Union (EU) member states, Ireland and Denmark. Two key...... in line with European integration measures, even in the absence of national commitment to the latter. Discourses of globalisation have thus become ‘the last resort’ for Danish decision makers in justifying and coordinating reforms that are in line with EU regulations and recommendations....

A Comparative European View on African Integration

DEFF Research Database (Denmark)

Zank, Wolfgang

In this paper I compare African and European integration. Despite some important progress, so far African integration has not been as deep as the European one. Measured on the terms of intergovernmental versus supranational cooperation, the AU is essentially an intergovernmental arrangement...... resembles already a federal state, with increasing tendencies in this direction. The different degree of integration has been the cause of many factors. I highlight here the importance of two basic conditions for substantial progress at supranational integration. The first one is a consensus on basic...... European countries have been mixed economies with a public sector, but where economic activities were mainly coordinated by market forces. This opened the possibilities to use these market forces, e.g. by removing trade barriers, to strengthen cooperation at ground level and create pressures for further...

Pulmonary exacerbation in adults with bronchiectasis: a consensus definition for clinical research.

Science.gov (United States)

Hill, Adam T; Haworth, Charles S; Aliberti, Stefano; Barker, Alan; Blasi, Francesco; Boersma, Wim; Chalmers, James D; De Soyza, Anthony; Dimakou, Katerina; Elborn, J Stuart; Feldman, Charles; Flume, Patrick; Goeminne, Pieter C; Loebinger, Michael R; Menendez, Rosario; Morgan, Lucy; Murris, Marlene; Polverino, Eva; Quittner, Alexandra; Ringshausen, Felix C; Tino, Gregory; Torres, Antoni; Vendrell, Montserrat; Welte, Tobias; Wilson, Rob; Wong, Conroy; O'Donnell, Anne; Aksamit, Timothy

2017-06-01

There is a need for a clear definition of exacerbations used in clinical trials in patients with bronchiectasis. An expert conference was convened to develop a consensus definition of an exacerbation for use in clinical research.A systematic review of exacerbation definitions used in clinical trials from January 2000 until December 2015 and involving adults with bronchiectasis was conducted. A Delphi process followed by a round-table meeting involving bronchiectasis experts was organised to reach a consensus definition. These experts came from Europe (representing the European Multicentre Bronchiectasis Research Collaboration), North America (representing the US Bronchiectasis Research Registry/COPD Foundation), Australasia and South Africa.The definition was unanimously approved by the working group as: a person with bronchiectasis with a deterioration in three or more of the following key symptoms for at least 48 h: cough; sputum volume and/or consistency; sputum purulence; breathlessness and/or exercise tolerance; fatigue and/or malaise; haemoptysis AND a clinician determines that a change in bronchiectasis treatment is required.The working group proposes the use of this consensus-based definition for bronchiectasis exacerbation in future clinical research involving adults with bronchiectasis. Copyright ©ERS 2017.

CUSTOMER EXPERIENCE AND RETAIL BANKING TRENDS

Directory of Open Access Journals (Sweden)

PAUL OVIDIU HANDRO

2017-11-01

Full Text Available The concept of customer experience refers to the impact of all the interactions that the customer may have with a bank, taking into account the multitude of touchpoints by which he activates. Customer experience includes every element related to the promises made through branding, advertising, offers, products and services, but the most important is how they are delivered: easiness in using the services or products, promptness and efficiency in dealing with customers before and after purchase. [1] - [11] In the context of an environment influenced to a great extent by the evolution of technologies, but also by the accelerated dynamics regarding legislation (Payment Directive II, Directive 2014/92/EU and competition, a traditional commercial bank must be extremely careful and competent to build and plan the present and future experiences offered to customers. Given the complexity of the structure of a traditional bank, an essential point in the performance strategy must be the improvement of the Customer experienced experience in dealing with the bank. The positive experience becomes defining both for customer loyality and to attract new customers. The segregation of responsibilities and at the same time harmonization of flows between the various structures of traditional banks (front-office- FO; middle-office-MO; back-office-BO becomes the main challenge of the moment in order to provide the customer with the much desired positive experience. Affected at the global and European level by the dynamics of legislative changes, as well as by the business models that rely on the outsourcing of some positions, the back-office and middle office do not enjoy the same rhythm of evolution and support found in the front office, resulting in incoherent customer experiences and, at the same time, preventing the industry's capacity to attract, retain and delight the customers. In order to improve the level of customer experience, the banks must focus more on