Portfolio valuation in banks

Frequent references are made to the use of portfolio spread rates in managing financial risks in banks, but indications as to the procedures for determining such rates are very scant.The purpose of this article is to present some initial ideas on the subject: a Standard Funding system indicates what each portfolio should have earned, while an Actual Funding system points out what each portfolio did, in fact, earn; additionally, by comparing the outcomes of the two funding systems for each portfolio, it is possible to determine what each portfolio earned (or lost) in the way of arbitrage.

Comparison of Trypanosoma cruzi infection in dogs inoculated with blood or metacyclic trypomastigotes of Berenice-62 and Berenice-78 strains via intraperitoneal and conjunctival routes

This paper aimed to verify the influence of the inoculum source (blood or metacyclic trypomastigote) and the route of inoculation (intraperitoneal or conjunctival) on the course of T. cruzi infection in dogs, using comparatively the T. cruzi strains Berenice-62 and Berenice-78. All dogs inoculated intraperitoneally became infected independently of the T. cruzi strain and source of trypomastigotes used. High level of infectivity was also observed when metacyclic trypomastigotes of both strains were inoculated by conjunctival route. However, when blood trypomastigotes were inoculated by conjunctival route the percentages of infectivity were significantly lower in dogs inoculated with both strains. Parasitaemia was significantly higher in animals infected with metacyclic trypomastigotes via the conjunctival route independently of the T. cruzi strain used. All animals infected with Berenice-78 strain showed severe acute myocarditis. On the other hand, animals infected with Berenice-62 showed severe acute myocarditis only when infected with metacyclic trypomastigote, via the intraperitoneal route. The results suggest that the source of the inoculum and the route of inoculation remarkably influence the evolution of the infection for the T. cruzi in the vertebrate host even when the same strain of the parasite is used.

A new species of Protoptila Banks (Trichoptera: Glossosomatidae: Protoptilinae) from Brazil

A new species of Protoptila Banks (Trichoptera: Glossosomatidae: Protoptilinae) - P. longispinata sp. nov. - is described and illustrated from specimens collected in Amazon region, Amazonas and Pará states, Brazil.

Combate ao ácaro branco Polyphagotarsonemus tatus (Banks, 1904) em algodão, com defensivos, incluídos dois aplicados por "electrodyn"

O presente trabalho foi realizado com o objetivo de continuar os experimentos que visam o combate ao "ácaro branco" Polyphagotarsonemus latus (Banks, 1904) em algodoeiro. Quatro tratamentos foram aplicados em pulverização convencional e 2 outros produtos com "Electrodyn", num total de 7 tratamentos (com a testemunha). Vejamos quais são estes: A) testemunha; B) dicofol; C) bromopropilato; D) abamectina + alquenol multimetílico, sendo o último um feromônio; E) dicofol; F). profenofós e G) abamectina (Quadro 1). Os tratamentos C e E foram feitos com soluções especiais para "Electrodyn". A análise dos resultados demonstrou que os tratamentos E e D foram os melhores. Palavras-chave: Polyphagotarsonemus latus, defensivos químicos, ácaro branco, algodoeiro.

Ácaro branco do algodão Polyphagotarsonemus latus (Banks, 1904) (Acari: Tarsonemidae) e ensaio de combate químico

Com o intuito de avaliar o desempenho de produtos químicos no combate ao "ácaro branco" Polyphagotarsonemus latus (Banks, 1904) em algodoeiro, instalou-se o presente trabalho. Os 7 tratamentos, com 4 repetições, foram os seguintes: A) testemunha; B) triazofós, 300g; C) triazofós, 150g + feromônios (alquenóis multimetílicos), 4,77g; D) propargite, 1,080g; E) abamectina, 6g + feromônios (alquenóis multimetílicos), 6,67g; F) profenofós, 400g; G) enxofre, 3.000g. As quantidades acima são de ingredientes ativos por hectare. Os melhores resultados foram conseguidos pelo triazofós, seguido pelo enxofre e as duas misturas com feromônios.

Cephalopoda as prey of juvenile Southern elephant seals at Isla 25 de Mayo/King George, South Shetland Islands

The aim of the present study was to enhance the knowledge of the feeding habits of the juvenile component of the population of Southern elephant seals [Mirounga leonina (Linnaeus, 1758)] from Isla 25 de Mayo, South Shetland Islands, age class whose diet information is scarce. A total of 60 individuals were stomach lavaged in the spring - summer seasons of three consecutive years (2003, 2004 and 2005) of which 53.3 % (n = 32) presented food remnants. The Antarctic glacial squid Psychroteuthis glacialis Thiele, 1921 was the dominant prey taxon in terms of frequency of occurrence (68.7%), numerical abundance (60.1%) and biomass (51.5%), contributing 84.1% to the total relative importance index. Other squid prey species of importance were Slosarczykovia circumantartica Lipinski, 2001 in terms of occurrence (37.5%) and numerical abundance (14%) and Moroteuthis knipovitchi Filippova, 1972 in terms of biomass (16%). All identified cephalopod prey taxa are distributed south of the Antarctic Polar Front, except for the squid Martialia hyadesi Rochebrune & Mabille, 1889 which has a circumpolar distribution associated to the Polar Frontal Zone. No significant differences in the sizes of P. glacialis preyed upon by elephant seals were found between sexes and years. However, significant interannual differences were found in the taxonomical composition of their diet. This would be associated with temporal changes in food availability at the foraging areas of seals, which in turn may have been influenced by changes in oceanographic conditions as a result of the El Niño Southern Oscillation (ENSO) phenomenon that occurred during part of the study period. Furthermore, a differential response of males and females to this temporal variation was observed, with the former being also associated to a predation on octopods. This would suggest a sexual segregation in foraging habits of this species from the early stages of its life cycle.

Prevalence of Trypanosoma cruzi infection in blood banks of seven departments of Bolivia

Trypanosoma cruzi infection was studied in 1,298 sera samples of blood banks from 7 capital departments of Bolivia, using the immunofluorescence test (IFI) and Enzyme Linked Immunosorbent Assay (Elisa). The percentages of positivity in these 7 departments have an average of 28% and are distributed as follows: Sta. Cruz 51%, Tarija 45%, Cochabamba 28%, Sucre 39%, La Paz 4.9%, Oruro 6% and Potosi 24%. The prevalence is related with the altitude levels of the different departments. However in Potosi (3,945 m) we found a 24% of prevalence, probably due to the proximity of endemic valleys to the city. The authors suggest a strict control in blood donors since there exists a great risk of infection

Sandflies (Diptera: Psychodidae: Phlebotominae) collected on the banks of the Velhas River in the state of Minas Gerais, Brazil

Leishmaniases are endemic to several Brazilian states, including Minas Gerais. As many cases of these diseases are diagnosed in Minas Gerais every year, this paper aimed to determine the diversity of the species of sandflies vector of leishmaniases, in Lassance and Corinto on the banks of the Velhas River. Over two years, 21,014 specimens of sandflies, belonging to 19 species were captured with light traps. Of these specimens, Nyssomyia neivai (Pinto 1926) (84.18%), Nyssomyia intermedia (Lutz & Neiva 1912) (13.41%), Evandromyia lenti(Mangabeira 1938) (0.99%) and Evandromyia sallesi (Galvão & Coutinho 1939) (0.48%) were the most represented. The former two species could be involved in the epidemiological chain of leishmaniasis in this region. No significant difference was found between the species compositions on the two river banks.

Solidarity finance through community development banks as a strategy for reshaping local economies: lessons from Banco Palmas

The purpose of this paper is to reflect on the possibilities and challenges of Community Development Banks (CDBs) as an innovative method of socioeconomic management of microcredit for poor populations. To this end, we will discuss the case of Banco Palmas in Conjunto Palmeiras in the city of Fortaleza, in the northeastern state of Ceará, as an empirical case study. The analyses presented here are based on information obtained from Banco Palmas between late 2011 and early 2012. In addition, previous studies by other researchers on the bank and other studies on CDBs were important. The primary data collected at Banco Palmas came from documents made available by the bank, such as reports and mappings. The analyses describe some of the characteristics of the granting of microcredit and allow one to situate it in the universe of microfinance and solidarity finance. They also show the significant growth of local consumption, mostly through the use of the Palmas social currency. The Banco Palmas experience, aside from influencing national public policies of solidarity finance, initiated a CDBs network that encourages the replication of these experiences throughout the country.