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.

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.

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.

Efeitos do nim sobre tetranychus urticae Koch (Acari: Tetranychidae) e os predadores Phytoseiulus macropilis (Banks) e Neoseiulus californicus (Mcgregor) (Acari: Phytoseiidae)

O objetivo deste trabalho foi avaliar a eficiência de controle e os efeitos adversos de dois produtos à base de nim Azamax® (Azadiractina A/B 12g/L) e Neemseto® (Azadiractina A/B, Nimbina e Salanina 2,389 g/L) sobre o ácaro-rajado Tetranychus urticae e os predadores Phytoseiulus macropilis e Neoseiulus californicus em laboratório. Para o ácaro-rajado, foram consideradas as variáveis mortalidade, fecundidade, efeito ovicida e persistência biológica, enquanto para os fitoseídeos consideraram-se mortalidade e fecundidade. A mortalidade máxima observada para o ácaro-rajado foi de 89,7% e 91,5% para Azamax® e Neemseto®, respectivamente, na concentração de 0,5% após a reaplicação do produto no sétimo dia. Também foram observados efeitos adversos sobre a fecundidade e a viabilidade dos ovos quando tratados com os produtos comerciais (p.c.). A persistência biológica dos produtos foi de aproximadamente três dias após a pulverização. As formulações apresentaram seletividade em relação aos fitoseídeos, porém causaram redução da fecundidade dos mesmos.

Evolution of Ryegrass Seed Banks Depending on Soil Tillage and Crops

The seed bank is characterized by the amount of seeds and other viable reproductive structures in the soil and it is changed by the input and output of seeds, being classified by its permanence in the soil as transient or permanent. The tillage and crops used decisively influence this dynamic and more disturbed areas tend to have richer seed banks. The purpose of this study was to test different soil tillage and crop systems, aiming to reduce or eliminate the ryegrass in the area. The experiment was conducted from 2010 to 2012. In the first year, the effect of chemical tillage was assessed, compared to the area without tillage. From the second year on, in the area that received chemical tillage, the second experiment was installed, where it was assessed the effect of soil tillage and crop rotation in the ryegrass seed yield. The soil tillage treatment was chisel plow and non-chisel plow. The crop rotation was: fallow/soybean; wheat/soybean; black oat/maize. The samples of soil were taken three times a year and split in 0-5, 5-10, 10-15 and 15-20 cm. After sampling, the seeds were separated from the soil and sterilized. Afterwards, germination and tetrazolium test were conducted. In the same plots used for soil sampling, the emergence flow of ryegrass was assessed in the winter 2011 and 2012. In the first year it was observed that chemical tillage had considerably reduced the amount of ryegrass in the soil. The crop rotations used were more effective than soil tillage in reducing the seed banks in the soil. The rotation oat/maize and wheat/soybean, in only two years, practically zeroed the ryegrass seed banks in the area.

Phytosociology of the remaining xerophytic woodland associated to an environmental gradient at the banks of the São Francisco river - Petrolina, Pernambuco, Brazil

Floristic and phytosociological surveys were carried out for 12 months in the Embrapa-SPSB, Petrolina, Pernambuco, Brazil. A transect was laid on starting at the river bank extending for 790 m away from the river and divided into 140 10 × 10 m contiguous plots. In each plot, all standing plants, alive or dead, with stem diameter at soil level > 3 cm and total height > 1 m were sampled. Along this transect, an elevation range of 9.40 m was registered and five topographical environments were identified: riverside (MR), dike (D), floodable depression (DI), boundary terrace (TL) - all of them belonging to the fluvial terrace with Fluvic Neosol and Haplic Cambisol both silty textured eutrophic soils - and the inlander tableland (TS), with medium sandy-textured Red-Yellow Argisols. Fourty-eight species/morphospecies, distributed into 39 genera and 21 families, were identified. Four phytogeoenvironments (MR, D + TL, DI + TL, and TS) were registered based on environmental variations and floristic similarities among plots using cluster analyses. The MR environment showed the largest total density, total basal area, maximum and medium heights and maximum diameter. Moreover, it had 8.1% of plants with heights above 8 m against 0.6% for D + TL, 0.2% for DI + TL, and 0% for TS. The species with the largest importance value were Inga vera subsp. affinis (DC.) T.D. Pennington in MR, Mimosa bimucronata Kunth in D + TL and DI + TL and M. tenuiflora (Willd.) Poir. in TS.

Still the century of government savings banks? The Caixa Econômica Federal

This article explores general concerns about government banking, social inclusion, and democracy through case study of the Brazilian federal government savings bank (Caixa Econômica Federal). Review of government savings banks in Brazilian history suggests that these institutions have been at the center of domestic political economy, expanding and contracting under a variety of political regimes and economic conditions. Since capitalization to meet central bank and Basel Accord guidelines in 2001, the Caixa has attempted to modernize, continue to serve as agent for government policies, and expand both popular credit and savings and investment banking activities.

Interaction between information systems and work in the Brazilian banking sector

This article presents the results of a research to understand the conditions of interaction between work and three specific information systems (ISs) used in the Brazilian banking sector. We sought to understand how systems are redesigned in work practices, and how work is modified by the insertion of new systems. Data gathering included 46 semi-structured interviews, together with an analysis of system-related documents. We tried to identify what is behind the practices that modify the ISs and work. The data analysis revealed an operating structure: a combination of different practices ensuring that the interaction between agents and systems will take place. We discovered a structure of reciprocal conversion caused by the increased technical skills of the agent and the humanization of the systems. It is through ongoing adjustment between work and ISs that technology is tailored to the context and people become more prepared to handle with technology.

CROSS-COUNTRY STUDY ON THE DETERMINANTS OF BANK FINANCIAL DISTRESS

ABSTRACTBank 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.

Monetary channels of social inclusion: a case study of basic income and the Caixa Econômica Federal in Brazil

This article reports evidence of new monetary channels for social inclusion involving basic income policies and the Caixa Econômica Federal, a Brazilian government savings bank. Since the Plano Real (Brazilian currency) and the liberalization of banking in the 1990s, the realization of competitive advantages by the Caixa as social policy agent and the importance of citizenship cards differ from existing theories of bank change, financial inclusion and monetary policy. Multi-method research reveals the importance of 1) political theories of basic income, 2) conceptions of citizenship and social justice, and 3) a back to the future modernization of government banking. This provides alternatives to contemporary market-based banking theory, neo-liberal policies, private and non-governmental microfinance strategies, and theories in political economy about fiscal constraints to social policies. New monetary channels of change also suggest that zero sum theories about politics, monetary authority and social inclusion are amiss.