Modelos para a determinação do risco da taxa de juro

Introdução PARTE 1 - Noções gerais e metodologias de medição baseadas nos diferenciais 1.1. Noção de risco 1.2. Principais riscos na actividade bancária 1.3. Modelos de quantificação do risco da taxa de juro 1.4. Modelos para quantificar o risco de reinvestimento 1.5. O modelo de diferencial de duração (DD) 1.6. Modelos para quantificar o risco de preço 1.7. Diferencial de duração da situação líquida 1.8. Vantagens/desvantagens dos modelos de duração (resultado e situação líquida) 1.9. Perspectivas e conclusão sobre os Modelos de Diferencial de Fundos e Duração PARTE II - Conceito de VAR 2.1 A noção de VAR (Valor em Risco) 2.2 Conceitos-chave dos modelos VAR 2.3 Fórmula de cálculo da duração modificada 2.4 A importância da duração para determinar a sensibilidade da taxa de juro 2.5 A problemática da convexidade 2.6 O conceitos de volatilidade 2.7 A agregação dos riscos 2.8 O tratamento do VAR com a matriz de correlação do andamento das taxas de juro 2.9 Esquemas sequenciais de cálculo da volatilidade preço - taxa de juro e VAR PARTE III - Casos práticos de VAR 3.1 As relações entre as taxas a prazo (forward) e as taxas à vista (spot) 3.2 Desenvolvimento de um caso prático 3.3 Cálculo do diferencial de duração e do VAR aplicado à situação líquida 3.4 Admissão de pressupostos 3.5 Os diferentes VAR´s 3.6 A importância do VAR no contexto de gestão de risco numa instituição 3.7 Os modelos de simulação estática e dinâmica PARTE IV - Situações especiais 4.1 O tratamento dos FRA´s e futuros 4.2 O tratamento das opções 4.3 O tratamento dos swap´s taxa de juro 4.4 A aplicação do modelo VAR aos riscos taxa de juro e cambial 4.5 A utilização dos modelos VAR na afectação do capital (RAROC) 4.6 A análise da instruçaõ nº 19/2005 ANEXOS Anexo 1 - Instrução nº 19/2005: risco de taxa de juro da carteira bancária Anexo 2 - Instrução nº 72/96: Princípios orientadores para ocontrolo do risco da taxa de juro Anexo 3 - Anexo V do Aviso nº 7/96 Conclusão Índice dos Quadros Bibliografia

Feedback regarding students initial pharmaceutical internship from the University of Medicine and Pharmacy, Cluj-Napoca

Introduction/Aims: The purpose of the study is to evaluate the perception of the organization, the development and the evaluation of the initial stage in the internship of students, in order to improve these activities and to establish the adequate objectives in accordance with the changes concerning the concept of modern pharmacy. Materials and methods: An online survey was made using Google Docs ® -Create Form extension. All results were accumulated and computed using Microsoft Excel ®. The questionnaire consisted of 11 questions, structured on several levels: the objectives and how they can be achieved, internship organization, the internship training (effective participation in specific activities and integration in the pharmaceutical activity), the assessment, the profile of tutor / pharmacy. The questionnaire was completed by students from the Faculty of Pharmacy, University of Medicine and Pharmacy "Iuliu Haţieganu" Cluj Napoca, Romania. Results and discussions. The study was conducted on 308 students (60% of all students from the study years II-IV. 90% of the respondents had actually participated in the internship, whilst 10% only formally participated in this activity. The main responsibilities of the students were: storage and reception of pharmaceutical products (94%, respectively 79%) and working with the receipts (57%). Most of the students appreciate that they were integrated into the work in the pharmacy, this being due largely pharmacist tutor, who expressed interest and ability in mentoring activities. They appreciated that the role of tutor requires 3-5 years of professional experience. In terms of the internship objectives, these should aim at applying the knowledge gained until the graduation year, but also familiarization with activities which might turn into applications for the coming years. 43% of students believe that only 25% of the theoretical knowledge was useful during the internship. 90 % of the total questioned considered useful to develop a practice guideline adapted to the year of study. Conclusions. The professional training of the future pharmacist’s students depends largely on experience gained by students during the internship activity. Feed-back from the students’ shows that they are aware of the usefulness of the internship, but believe the objectives must be updated and a better correlation between work in pharmacy and theoretical knowledge has to be made. A first step is to develop a practical guide adapted to each year of study. The involvement of the tutor pharmacist is also essential to the success of this activity

Antimicrobial activity of pyrazine and quinoxaline N,N’-dioxide heterocyclic compounds

The nitrogen heterocyclic organic compounds 1,4 dioxide pyrazine and quinoxaline derivatives have been widely studied due to their potential use as synthetic drugs. The thermochemical study of three N,N´-dioxides: 2,3,5-trimethylpyrazine-1,4-dioxide, tetramethylpyrazine-1,4-dioxide and 6-chloro-2,3-dimethilquinoxaline 1,4-dioxide has been recently developed in order to establish relationships among the energetical, structural and reactivity properties [4,5]. Several studies have reported their pharmacological activity, particularly as antimicrobial agents [1,2,3]. It has also been established a relation between energetical and structural properties and biological activity, once these compounds present N – oxide bonds, increasing their oxidative capacity. The present work reports the study of antimicrobial activity for those compounds against the bacteria Geobacillus stearothermophylus, Staphylococcus aureus, Streptococcus agalactiae, Escherichia coli and also against the yeasts Saccharomyces cerevisiae PYCC 4072, Candida albicans PYCC3436T, Candida tropicalis PYCC, Issatchenka Orientalis PYCC. The determination of the minimal inhibitory concentration (MIC), points to an antimicrobial activity and the preliminary results indicate that these compounds may be potential candidates as antimicrobial drugs with clinical, agriculture or food industries applications.

Performance analysis of Java APIS for XML processing

Over time, XML markup language has acquired a considerable importance in applications development, standards definition and in the representation of large volumes of data, such as databases. Today, processing XML documents in a short period of time is a critical activity in a large range of applications, which imposes choosing the most appropriate mechanism to parse XML documents quickly and efficiently. When using a programming language for XML processing, such as Java, it becomes necessary to use effective mechanisms, e.g. APIs, which allow reading and processing of large documents in appropriated manners. This paper presents a performance study of the main existing Java APIs that deal with XML documents, in order to identify the most suitable one for processing large XML files.

Is there a need for attenuation correction in the 99mTc-DMSA scans on pediatric patients?

Introduction: The quantification of th e differential renal function in adults can be difficult due to many factors - on e of the se is the variances in kidney depth and the attenuation related with all the tissue s between the kidney and the camera. Some authors refer that t he lower attenuation i n p ediatric patients makes unnecessary the use of attenuation correction algorithms. This study will com pare the values of differential renal function obtained with and with out attenuation correction techniques . Material and Methods: Images from a group consisting of 15 individuals (aged 3 years +/ - 2) were used and two attenuation correction method s were applied – Tonnesen correction factors and the geometric mean method . The mean time of acquisition (time post 99m Tc - DMSA administration) was 3.5 hours +/ - 0.8h. Results: T he absence of any method of attenuation correction apparently seems to lead to consistent values that seem to correlate well with the ones obtained with the incorporation of methods of attenuation correction . The differences found between the values obtained with and without attenuation correction were not significant. Conclusion: T he decision of not doing any kind of attenuation correction method can apparently be justified by the minor differences verified on the relative kidney uptake values. Nevertheless, if it is recognized that there is a need for a really accurate value of the relative kidney uptake, then an attenuation correction method should be used.

Comparative study between two distinct methods for attenuation correction and the use of no-attenuation correction for the assessment of relative uptake of 99mTc-DMSA on pediatric patients

Introduction: Although relative uptake values aren’t the most important objective of a 99mTc-DMSA scan, they are important quantitative information. In most of the dynamic renal scintigraphies attenuation correction is essential if one wants to obtain a reliable result of the quantification process. Although in DMSA scans the absent of significant background and the lesser attenuation in pediatric patients, makes that this attenuation correction techniques are actually not applied. The geometric mean is the most common method, but that includes the acquisition of an anterior (extra) projection, which it is not acquired by a large number of NM departments. This method and the attenuation factors proposed by Tonnesen will be correlated with the absence of attenuation correction procedures. Material and Methods: Images from 20 individuals (aged 3 years +/- 2) were used and the two attenuation correction methods applied. The mean time of acquisition (time post DMSA administration) was 3.5 hours +/- 0.8h. Results: The absence of attenuation correction showed a good correlation with both attenuation methods (r=0.73 +/- 0.11) and the mean difference verified on the uptake values between the different methods were 4 +/- 3. The correlation was higher when the age was lower. The attenuation correction methods correlation was higher between them two than with the “no attenuation correction” method (r=0.82 +/- 0.8), and the mean differences of the uptake values were 2 +/- 2. Conclusion: The decision of not doing any kind of attenuation correction method can be justified by the minor differences verified on the relative kidney uptake values. Nevertheless, if it is recognized that there is a need for an accurate value of the relative kidney uptake, then an attenuation correction method should be used. Attenuation correction factors proposed by Tonnesen can be easily implemented and so become a practical and easy to implement alternative, namely when the anterior projection - needed for the geometric mean methodology – is not acquired.

Avaliação ecotoxicológica de solos contaminados por ibuprofeno

Os produtos farmacêuticos são substâncias químicas muito utilizados em medicina, veterinária e ainda na agricultura. Nos anos 90, foi descoberta a presença de fármacos em meio aquático, verificando-se que a sua remoção nas Estações de Tratamento de Águas Residuais (ETAR) não era completa. Durante as duas últimas décadas foi identificada a presença de mais de oitenta compostos no meio ambiente e actualmente são considerados poluentes emergentes. Podem contaminar solos e águas, depois de serem usados e excretados (inalterados ou metabolizados) por humanos e animais, ou quando são indevidamente lançados directamente no meio ambiente. Os estudos ecotoxicológicos efectuados com estes poluentes têm sido direccionados, sobretudo, para as águas, existindo uma ausência de trabalhos sobre solos. O Ibuprofeno (IB) é um anti-inflamatório não esteróide, utilizado também como analgésico e antipirético, sendo um dos produtos farmacêuticos mais vendidos em todo o mundo, o que justifica a sua forte presença no meio ambiente. Por isso, e dada a ausência de trabalhos ecotoxicológicos de solos contaminados por fármacos, o IB foi o produto farmacêutico selecionado para a realização deste trabalho. A ecotoxicidade pode ser avaliada através de bioensaios. Estes têm a capacidade de avaliar a toxicidade de uma determinada substância de forma global, usando organismos vivos que funcionam como bio-indicadores. O presente trabalho tem como objectivos avaliar o impacte causado nos solos pelo IB, testar a toxicidade de dois processos de descontaminação para remover o referido fármaco dos solos assim como avaliar a toxicidade provocada por águas residuais, de três unidades hospitalares e de uma indústria farmacêutica. Esta avaliação foi efectuada através de ensaios de toxicidade aguda de germinação e de alongamento de raiz de sementes de alface, variedade bola de manteiga (Lactuca sativa), em solo arenoso. Os ensaios de ecotoxicidade aguda em solos contaminados por IB foram realizados para uma gama de concentrações entre 0,1 e 1000 μg/L. Verificou-se uma redução do número de sementes germinadas e do comprimento médio da planta no solo contaminado com 0,5 e 20 μg/L de IB. No solo contaminado com 1000 μg/L de IB observou-se uma redução da germinação, acompanhada por uma indução de crescimento da raiz da espécie Lactuca sativa. Os dois tratamentos de descontaminação de solos, reagente de Fenton e Nanopartículas de ferro zero valente, revelaram toxicidade, tendo-se obtido uma percentagem de germinação entre 32,2 ± 3,5 e 48,5 ± 6,2 e inibição do crescimento da raiz do organismo teste em cerca de 85,0 %. Em relação às águas residuais hospitalares verificou-se uma redução da percentagem de germinação entre 31,1 ± 5,0 e 72,3 ± 12,4 e uma inibição do crescimento da raiz situada entre 13,0 ± 6,4 e 20,2 ± 10,0 %. Para a água residual industrial ocorreu uma inibição da percentagem de germinação de 60,5 ± 13,1, contudo nas plantas germinadas observou-se uma indução do crescimento da raiz de 14,9 ± 7,7 %.

Electroanalytical determination of oxadiazon and characterization of its base-catalyzed ring-opening products

The electrochemical behavior of the hydrolysis products of oxadiazon was studied by cyclic and square-wave voltammetry using a glassy carbon electrode. Maximum currents were obtained at pH 12.8 in an aqueous electrolyte solution containing 30% ethanol and the current did not decrease with time showing that there was little adsorption of the reaction products on the electrode surface. The hydrolysis products of oxadiazon were identi®ed, after isolation and puri®cation, as 1-trimethylacetyl-2-(2,4-dichloro-5-isopropoxyphenyl)-2-ethoxycarbonylhydrazine (Oxa1) and 1-trimethylacetyl-2-(2,4-dichloro-5-isopropoxyphenyl) hydrazine (Oxa2) with redox potentials 0.6Vand 70.1V (vs. Ag=AgCl), respectively. Based on the electrochemical behavior of 1-trimethylacetyl-2-(2,4-dichloro-5-isopropoxyphenyl) hydrazine (Oxa2) a simple electroanalytical procedure was developed for the determination of oxadiazon in commercial products used in the treatment of rice crops in Portugal that contain oxadiazon as the active ingredient. The detection limit was 161074 M, the mean content and relative standard deviation obtained for seven samples of two different commercial products by the electrochemical method were 28.4 0.8% (Ronstar) and 1.9 0.2% (Ronstar GR), and the recoveries were 100.3 5.4% and 101.1 5.3 %, respectively.

Chromatographic techniques for the determination of free phenol in foundry resins

Phenol is a toxic compound present in a wide variety of foundry resins. Its quantification is important for the characterization of the resins as well as for the evaluation of free contaminants present in foundry wastes. Two chromatographic methods, liquid chromatography with ultraviolet detection (LC-UV) and gas chromatography with flame ionization detection (GC-FID), for the analysis of free phenol in several foundry resins, after a simple extraction procedure (30 min), were developed. Both chromatographic methods were suitable for the determination of phenol in the studied furanic and phenolic resins, showing good selectivity, accuracy (recovery 99–100%; relative deviations <5%), and precision (coefficients of variation <6%). The used ASTM reference method was only found to be useful in the analysis of phenolic resins, while the LC and GC methods were applicable for all the studied resins. The developed methods reduce the time of analysis from 3.5 hours to about 30 min and can readily be used in routine quality control laboratories.

Maltol determination in food by microwave assisted extraction and electrochemical detection

An electrochemical method is proposed for the determination of maltol in food. Microwave-assisted extraction procedures were developed to assist sample pre-treating steps. Experiments carried out in cyclic voltammetry showed an irreversible and adsorption controlled reduction of maltol. A cathodic peak was observed at -1.0 V for a Hanging Mercury Drop Electrode versus an AgCl/Ag (in saturated KCl), and the peak potential was pH independent. Square wave voltammetric procedures were selected to plot calibration curves. These procedures were carried out with the optimum conditions: pH 6.5; frequency 50 Hz; deposition potential 0.6 V; and deposition time 10 s. A linear behaviour was observed within 5.0 × 10-8 and 3.5 × 10-7 M. The proposed method was applied to the analysis of cakes, and results were compared with those obtained by an independent method. The voltammetric procedure was proven suitable for the analysis of cakes and provided environmental and economical advantages, including reduced toxicity and volume of effluents and decreased consumption of reagents.

Study of optical and structural properties of Cu2ZnSnS4 thin films

Cu2ZnSnS4 is a promising semiconductor to be used as absorber in thin film solar cells. In this work, we investigated optical and structural properties of Cu2ZnSnS4 thin films grown by sulphurization of metallic precursors deposited on soda lime glass substrates. The crystalline phases were studied by X-ray diffraction measurements showing the presence of only the Cu2ZnSnS4 phase. The studied films were copper poor and zinc rich as shown by inductively coupled plasma mass spectroscopy. Scanning electron microscopy revealed a good crystallinity and compactness. An absorption coefficient varying between 3 and 4×104cm−1 was measured in the energy range between 1.75 and 3.5 eV. The band gap energy was estimated in 1.51 eV. Photoluminescence spectroscopy showed an asymmetric broad band emission. The dependence of this emission on the excitation power and temperature was investigated and compared to the predictions of the donor-acceptor-type transitions and radiative recombinations in the model of potential fluctuations. Experimental evidence was found to ascribe the observed emission to radiative transitions involving tail states created by potential fluctuations.

Estudo da influência de parâmetros ambientais (Fe e N) na produtividade lipídica da microalga Chlamydomonas sp.

Mestrado em Engenharia Química - Ramo Tecnologias de Protecção Ambiental

Capacidade diagnóstica dos biomarcadores de rastreio Pré-natal

Introdução: Algumas anomalias fetais podem colocar sérios riscos para a saúde materna ou estar associadas a uma diminuição acentuada da qualidade de vida do novo ser em formação, ou ainda, ser incompatíveis com a vida do mesmo. O Rastreio Pré-natal (RPN) é um teste que se destina a seleccionar gravidezes com um risco aumentado de apresentarem um feto com malformações. O desenvolvimento de métodos de rastreio pré-natal de anomalias cromossómicas teve grande impacto no diagnóstico pré-natal (DPN). Tradicionalmente, a idade materna era vista como o principal teste de rastreio, pelo que todas as mulheres com idade igual ou superior a 35 anos são aconselhadas a realizar amniocentese. Actualmente maioria das amniocenteses já não são realizadas exclusivamente com base na idade materna, mas com base nos resultados dos teste de rastreio actualmente recomendados, devem-se oferecer a todas as grávidas a possibilidade de efectuarem os testes de rastreio pré-natal uma vez que estes são universais, pois aconselhar a amniocentese a todas as mulheres com idade igual ou superior a 35 anos, apresenta baixa capacidade diagnóstica, uma vez que quer neste estudo, quer noutros estudos publicados, apresentam evidência de malformações fetais em mulheres com idade inferior aos 35 anos. Novos testes de rastreio pré-natal, assim a sua combinação, possibilita a determinação do risco de desenvolver um feto com estas anomalias com elevada probabilidade. As malformações genéticas estão associadas a elevada morbilidade e mortalidade. Os testes de rastreio pré-natal assumem especial importância, uma vez que, permitem a sua detecção, ainda numa fase precoce. O objectivo deste estudo foi avaliar a capacidade diagnóstica dos marcadores bioquímicos analisando os resultados dos diferentes métodos de rastreio pré-natal numa amostra de grávidas que realizaram amniocentese. A população deste estudo foi os registos das amniocenteses, das mulheres grávidas do Serviço de Obstetrícia do Hospital de Santo António -CHP. Resultados: Foram recolhidos 722 registos de amniocenteses, 540 foram realizadas com base na idade materna, 144 no resultado positivo do rastreio bioquímico e 38 com base nos dados ecográficos. No total, 697 (96,5%) das amniocenteses foram negativas e 25 (3,5%) positivas. Relativamente aos testes bioquímicos de rastreio, verificamos que existe uma proporção de 7,64% (n=11) de verdadeiros positivos, e 92,36% (n=133) de falsos positivos. Conclusão: Não existem evidências para afirmar que os marcadores bioquímicos de rastreio pré-natal tenham capacidade diagnóstica, mas tem grande utilidade clínica na detecção do risco de malformações fetais, e por isso mesmo, segundo as ultimas recomendações de consenso, o RPN e o DPN devem estar disponíveis para todas as mulheres que iniciem a sua rotina pré-natal antes das 20 semanas de gestação, independentemente da sua idade.

Simulação da Central de Cogeração da Refinaria de Matosinhos (Petrogal)

Mestrado em Engenharia Química – Ramo Optimização Energética na Indústria Química

Stability of the Transthyretin Molecule as a Key Factor in

Transthyretin (TTR) protects against A-Beta toxicity by binding the peptide thus inhibiting its aggregation. Previous work showed different TTR mutations interact differently with A-Beta, with increasing affinities correlating with decreasing amyloidogenecity of the TTR mutant; this did not impact on the levels of inhibition of A-Beta aggregation, as assessed by transmission electron microscopy. Our work aimed at probing differences in binding to A-Beta by WT, T119M and L55P TTR using quantitative assays, and at identifying factors affecting this interaction. We addressed the impact of such factors in TTR ability to degrade A-Beta. Using a dot blot approach with the anti-oligomeric antibody A11, we showed that A-Beta formed oligomers transiently, indicating aggregation and fibril formation, whereas in the presence of WT and T119M TTR the oligomers persisted longer, indicative that these variants avoided further aggregation into fibrils. In contrast, L55PTTR was not able to inhibit oligomerization or to prevent evolution to aggregates and fibrils. Furthermore, apoptosis assessment showed WT and T119M TTR were able to protect against A-Beta toxicity. Because the amyloidogenic potential of TTR is inversely correlated with its stability, the use of drugs able to stabilize TTR tetrameric fold could result in increased TTR/ABeta binding. Here we showed that iododiflunisal, 3-dinitrophenol, resveratrol, [2-(3,5-dichlorophenyl)amino] (DCPA) and [4- (3,5-difluorophenyl)] (DFPB) were able to increase TTR binding to A-Beta; however only DCPA and DFPB improved TTR proteolytic activity. Thyroxine, a TTR ligand, did not influence TTR/A-Beta interaction and A-Beta degradation by TTR, whereas RBP, another TTR ligand, not only obstructed the interaction but also inhibited TTR proteolytic activity. Our results showed differences between WT and T119M TTR, and L55PTTR mutant regarding their interaction with A-Beta and prompt the stability of TTR as a key factor in this interaction, which may be relevant in AD pathogenesis and for the design of therapeutic TTR-based therapies.