Financial Engineering Instruments and their Assessment Under EU State Aid Rules. Bruges European Economic Policy (BEEP) Briefing 26/2013

Financial engineering instruments such as guarantees, loans and equity are increasingly used in public funding of enterprises. These instruments have three attractive features: they are repayable, they “leverage” private involvement, and they have a multiplier effect because they generate new income. At the same time, however, they are technically complex and they are subject to state aid rules. Their assessment under EU state aid rules creates two additional problems. First, under certain conditions financial instruments may not contain state aid. This is when public authorities act as “private investors”. This means that state aid cannot be presumed to exist in all financial instruments. It must first be established through market analysis. Second, when state aid is found to be present it is not always possible to quantify it. For this reason the state aid rules that apply to financial instruments differ significantly from other rules. This paper reviews how financial instruments have been assessed by the European Commission and under which conditions the state aid they may contain can be considered to be compatible with the internal market. The paper finds that by and large Member States have succeeded to design measures that have all been approved by the Commission.

Accelerator and detector physics at the Bern medical cyclotron and its beam transport line.

The cyclotron laboratory for radioisotope production and multi-disciplinary research at the Bern University Hospital (Inselspital) is based on an 18-MeV proton accelerator, equipped with a specifically conceived 6-m long external beam line, ending in a separate bunker. This facility allows performing daily positron emission tomography (PET) radioisotope production and research activities running in parallel. Some of the latest developments on accelerator and detector physics are reported. They encompass novel detectors for beam monitoring and studies of low current beams.

West side of old medical building and chemistry building

Looking east across Diag [Diagonal] to West Medical (later Natural Resources)

Medical faculty and students, 1865

Standing in front of the class (from left) are Abram Sager, Alonzo Palmer, Corydon Ford, Moses Gunn, and Silas Douglas (source: Not Just Any Medical School by Horace W. Davenport). On verso: March 1865. Dr. J. Ballard, then at 20 ... Gift of Dr. Elmer Belt, Los Angeles, Calif.

Occupational employment survey booklet of definitions : instruments and related industries.

"Approval expires: 3-31-93."

Compulsory medical care and the welfare state; an analysis based on a special study of governmentalized medical care systems on the continent of Europe and in England.

"References by chapters": p. 147-152.

Compulsory medical care and the welfare state, an analysis based on a special study of governmentalized medical care systems on the continent of Europe and in England.

"References by chapters": p. 147-152.

Graduate medical education and public policy : a primer.

"December 2000."

Usual sources of medical care and their characteristics /

"September 1991"--P. [4] of cover.

A review of the medical benefits and contraindications to breastfeeding in the United States /

"October 1997."

The Star collection of instrumental music; arranged for wind and string instruments, and for the use of small bands and orchestras.

Contains arrangements of songs, selections from operas, dances, etc.

Concertos for stringed or wind instruments and orchestra. [music] /

[v.1.] B flat major, K. 207; D major, K. 211; G major, K. 216; D major, K. 218 -- [v.2.] Concerto, A major, K. 219; Adagio for violin, K. 261; Rondo concertante, K. 269; Rondo, K. 373; Concertante for 2 solo violins, K. 186e (190).

16th census of the United States: 1940. Census of business: 1939. Retail trade. Commodity sales: book stores; news dealers; stationery stores; gift, novelty, souvenir shops; office, store appliance and equipment dealers; office, store, school supply dealers; scientific, medical instrument and supply dealers.

At head of title: U.S. Dept. of Commerce. Jesse H. Jones, Secretary. Bureau of the Census. J.C. Capt, Director ..

Determination vapor pressure of slightly volatile solids. (a) Methods and apparatus. (b) The vapor pressure of arsenic trioxide.

Typewritten ms.

The Medical examiner and general practitioner; a journal devoted to physical diagnosis.

Vol. 18 omitted in numbering.