Soil seed bank variation patterns according to environmental factors in a natural grassland

This research aimed to determine the soil seed bank and its relationship with environmental factors that have an influence in the distribution of the vegetation above the ground in an excluded area of natural grassland in the South of Brazil. Most of the 122 identified species in the seed bank were perennials. Data analysis indicated three distinct community groups, according to the size and composition of the soil seed bank in lowlands with permanent wet soils, in lowlands and in other areas. In general, lowlands were characterized by low-fertility soils, high moisture and aluminum contents, being spatially homogeneous habitats and, therefore, more restricted to vegetation heterogeneity than other parts of the relief. Environmental factors most associated with soil seed bank size and composition were relief position and their co-related soil variables such as: soil moisture content, potassium content, organic matter, basic saturation of cation exchange soil capacity, exchangeable basics sum of the soil and clay soil content. According to that, relief position, associated with combined effects of soil chemical properties related to it, determines the observed variation pattern of the soil seed bank, as a reflection of the vegetation above the area.

“Who is steering the ship and which constellation guides the way? Exploring transparency in the European Central Bank during the time of crisis”

This paper explores transparency in the decision-making of the European Central Bank (ECB). According to ECB´s definition, transparency means that the central bank provides the general public with all relevant information on its strategy, assessments and policy decisions as well as its procedures in an open, clear and timely manner. In this paper, however, the interpretation of transparency is somewhat broader: Information is freely available and directly accessible to those who will be affected by the decisions. Moreover, the individuals shall be able to master this material. ECB´s negative attitude towards publication of documents has demonstrated central bank´s reluctance to strive towards more extensive transparency. By virtue of the definition adopted by the ECB the bank itself is responsible for determining what is considered as relevant information. On the grounds of EU treaties, this paper assesses ECB`s accountability concentrating especially on transparency by employing principal-agent theory and constitutional approach. Traditionally, the definite mandate and the tenet of central bank independence have been used to justify the limited accountability. The de facto competence of the ECB has, however, considerably expanded as the central bank has decisively resorted to non-standard measures in order to combat the economic turbulences facing Europe. It is alleged that non-standard monetary policy constitutes a grey zone occasionally resembling economic policy or fiscal policy. Notwithstanding, the European Court of Justice has repeatedly approved these measures. This dynamic interpretation of the treaties seems to allow temporarily exceptions from the central bank´s primary objective during extraordinary times. Regardless, the paper suggests that the accountability nexus defined in the treaties is not sufficient in order to guarantee the accountability of the ECB after the adoption of the new, more active role. Enhanced transparency would help the ECB to maintain its credibility. Investing in the quality of monetary dialogue between the Parliament and the ECB appears to constitute the most adequate and practicable method to accomplish this intention. As a result of upgraded transparency the legitimacy of the central bank would not solely rest on its policy outputs.

On site measurements of DC link electrolytic capacitor bank of frequency converter using constant DC magnetization of the motor

Preventive maintenance of frequency converters has been based on pre-planned replace-ment of wearing or ageing components. Exchange intervals follow component life-time expectations which are based on empirical knowledge or schedules defined by manufac-turer. However, the lifetime of a component can vary significantly, because drives are used in very different operating environments and applications. The main objective of the research was to provide information on methods, i.e. how in-verter's operating condition can be measured reliably under field conditions. At first, the research focused on critical components such as current transducers, IGBTs and DC link capacitor bank, because these aging have already been identified. Of these, the DC link capacitor measurement method was selected for closer examination. With this method, the total capacitance and its total series resistance can be measured. The suitability of the measuring procedure was estimated on the basis of practical measurements. The research was made by using so called triangulation method, including a literature review, simulations and practical measurements. Based on the results, the new measu-rement method seems suitable with some reservations to practical measurements. How-ever, the measuring method should be further developed in order to improve its reliability.

Bank Income Diversification and its Impact on Profitability and Risk: Evidence from Nordic Markets

Financial industry has recently encountered many changes in the business environment. Increased regulation together with growing competition is forcing commercial banks to rethink their business models. In order to maintain profitability in the new environment, banks are focusing more into activities that yield noninterest income. This is a shift away from the traditional intermediation function of banks. This study aims to answer the question if the shift from traditional income yielding activities to more innovative noninterest activities is logical in terms of profitability and risk in Nordics. This study also aims to answer the question if diversification within the noninterest income categories has impact on profitability and risk and if there are certain categories of noninterest income that are better than others in terms of profitability and risk in Nordics. Results show that diversification between interest and noninterest activities and increase in the share of noninterest income have a negative impact on the risk adjusted returns and risk profile. Results also show that further diversification within the noninterest income categories has negative impact on risk adjusted profitability and risk while an increase of the share of commission and fee income category of total noninterest income has a positive impact on risk adjusted profitability and risk. Results are logical and in line with previous research (De Young & Roland, 2001; Stiroh, 2004). Results provide useful information to banks and help them better evaluate outcomes of different income diversification strategies.

Lolium multiflorum seeds in the soil: I. Soil seed bank dynamics in a no til system

The objective of the study was to characterize annual ryegrass seed population dynamics, managed for natural re-sowing, in no til systems in rotation with soybean, in different chronosequences An area was cultivated for two years with soybean, left as fallow land for the next two years and then cultivated again with soybean for the next two years. The four chronosequences represented different management periods, two with soybean (6 and 8 years old) and the other two resting (3 and 9 years old). Soil samples were taken every month during one year and divided into two depths (0-5 and 5-10 cm). Vegetation dynamics were also evaluated (number of plants, inflorescences and seedlings). Soil seed bank (SSB) dynamics showed structural patterns in time, with a "storage period" in summer, an "exhausting period" during autumn and a "transition period" in winter and spring. Pasture establishment by natural re-sowing was totally dependent on the annual recruitment of seeds from the soil. The influence of the management practices on the SSB was more important than the number of years that these practices had been implemented. Places where soybean was sown showed the largest SSBs. Most of the seeds overcame dormancy and germinated at the end of the summer and beginning of the autumn, showing a typically transitory SSB, but with a small proportion of persistent seeds

Boulevard to broken dreams, Part 1: the Polonoroeste road project in the Brazilian Amazon, and the World Bank's environmental and indigenous peoples' norms

ABSTRACT Before the mid 1980s the World Bank conceived "nature" as something to be "conquered" and "environment" as a source of resources for "development". By the late 1980s the Bank incorporated norms of environmental sustainability and indigenous peoples' protection into its mandate, and other development-oriented IOs followed. This two-part paper describes how a fight over the Polonoroeste road project in the Brazilian Amazon - inside the Bank, between the Bank and NGOs supported by the US Congress, and between the Bank and the government of Brazil -helped to generate the far-reaching change of policy norms. The first part describes how the project was designed as an innovation in sustainable development in rainforests; and how it provoked a firestorm inside the Bank as it moved towards project approval.

Effects of bank supervision and regulation on bank risk

In the last few decades, banking has strongly internationalized and become more complex. Hence, bank supervision and regulation has taken global perspective, too. The most important international regulation are the Basel frameworks by the Basel committee on banking supervision. This study examines the effects of bank supervision and regulation, especially the Basel II, on bank risk and risk-taking. In order to separate and recognize the efficiency of these effects, the co-effects of many supervisory and regulatory tools together with other relevant factors must be taken into account. The focus of the study is on the effects of asymmetric information and banking procyclicality on the efficiency of the Basel II. This study tries to find an answer, if the Basel II, implemented in 2008, has decreased bank risk in banks of European Union member states. This study examines empirically, if the volatility on bank stock returns have changed after the implementation of the Basel II. Panel data consists of 62 bank stock returns, bank-specific variables, economic variables and variables concerning regulatory environment between 2003 and 2011. Fixed effects regression is used for panel data analysis. Results indicate that volatility on bank stock returns has increased after 2008 and the implementation of the Basel II. Result is statistically very significant and robustness has been verified in different model specifications. The result of this study contradicts with the goal of the Basel II about banking system stability. Banking procyclicality and wrong incentives for regulatory arbitrage under asymmetric information explained in theoretical part may explain this result. On the other hand, simultaneously with the implementation of the Basel II, the global financial crisis emerged and caused severe losses in banks and increased stock volatility. However, it is clear that supervision and regulation was unable to prevent the global financial crisis. After the financial crisis, supervision and regulation have been reformed globally. The main problems of the Basel II, examined in the theoretical part, have been recognized in order to prevent problems of procyclicality and wrong incentives in the future.

Development of hypogene and supergene alteration and copper mineralization patterns, Sar Cheshmeh porphyry copper deposits, Iran /

The formation of the Sar Cheshmeh porphyry Cu-Mo deposit is related to the culmination of calc-alkaline igneous activity in the Kerman region. The deposit comprises a suite of Late Cenozoic intrusive sub-volcanic and extrusive rocks emplaced into a folded series of Eocene andesitic lavas and pyroclastic sediments. The earliest stage of magmatism was emplacement of a large granodiorite stock about 29 m.y.b.p. This was followed by intrusion of two separate porphyritic bodies at 15 (Sar Cheshrneh porphyry) and 12 m.y.b.p. (Late porphyry) and a series of sub-volcanic dikes between 12 and 9 m.y.b.p. Magmatic activity terminated with multi-phase extrusion of a Pelean dacitic dome complex between 10 and 2.8 m.y.b.p. The country rocks and the earlier porphyritic intrusions are pervasively altered to biotite-rich potassium silicate (metasomatic and hydrothermal) sericite-clay, phyllic and chlorite-clay, argillic assemblages. These grade outwards to an extensive propylitic zone. Within the ore body, the later intra-. and post-mineral dikes only reach the propylitic grade. At least three different sets of quartz veins are present, including a sericite-chlorite-quartz set which locally retrogrades pervasive secondary biotite to sericite. In the hypogene zone, metasomatic and hydrothermal alteration is related to all stages of magmatism but copper mineralization and veining are restricted to a period of 15 to 9 m.y.b.p.related to the early intrusive phases. The copper mineralization and silicate alteration do not fit a simple annular ring model but have been greatly modified by, 1. The existence of an ititial, outer ring, of metasomatic alteration overprinted by an inner.ring of hydrothermal alteration and, 2. later extensive dilating effects of intra- and post-mineral dikes. The hydrothermal clay mineral assemblage in the hypogene zone is illite-chlorite-kaolinite-smectite (beidellite). Preliminary studies indicate that the amount of each of these clays varies vertically and that hydrothermal zonation of clay minerals is possible. However, these minerals alter to illite-kaolinite assemblages in the supergene sulfide zone and to more kaolinite-rich assemblages in the supergene leached zone. Hydrothermal biotite breaks down readily in the supergene zone and is not well preserved in surface outcrops. The distribution of copper minerals in the supergene sulfide enrichment zone is only partly related to rock type being more dependent on topography and the availability of fractures.

The micromorphology of Paleoseismic soft sediment deformation structures in glacial deposits from three sample sites in Scotland /

The nature of this research is to investigate paleoseismic deformation of glacial soft sediments from three sampling sites throughout the Scottish Highlands; Arrat's Mills, Meikleour and Glen Roy. The paleoseismic evidence investigated in this research will provide a basis for applying criteria to soft sediment deformation structures, and the trigger mechanisms that create these structures. Micromorphology is the tool used in this to investigate paleoseismic deformation structures in thin section. Thin section analysis, (micromorphology) of glacial sediments from the three sampling sites is used to determine microscale evidence of past earthquakes that can be correlated to modem-day events and possibly lead to a better understanding of the impact of earthquakes throughout a range of sediment types. The significance of the three sampling locations is their proximity to two major active fault zones that cross Scotland. The fault zones are the Highland Boundary Fault and the Great Glen Fault, these two major faults that parallel each other and divide the country in half Sims (1975) used a set of seven criteria that identified soft sediment deformation structures created by a magnitude six earthquake in Cahfomia. Using criteria set forth by Sims (1975), the paleoseismic evidence can be correlated to the magnitude of the deformation structures found in the glacial sediments. This research determined that the microstructures at Arrat's Mill, Meikleour and Glen Roy are consistent with a seismically induced origin. It has also been demonstrated that, even without the presence of macrostructures, the use of micromorphology techniques in detecting such activity within sediments is of immense value.

Structural analysis of interior layered deposits in north and south Coprates Chasma, Mars

Interior layered deposits within an embayment in the northern as well as near the southern wall of Coprates Chasma in the Valles Marineris, Mars are studied using HRSC, CTX, HiRISE and CRISM data. In the northern embayment, layered deposits outcrop in three separate locations (a western deposit, a central deposit and an eastern deposit). The central layered deposit in the north has a stratigraphic thickness of 2 km. The western layered deposit abuts against the chasma wall appearing to have a relatively un-eroded depositional surface. The eastern deposit is near a landslide scar which appears to have exposed basement layering showing downward displacement. This northern embayment is suggested to have been an ancestral basin. The triangular edged deposit near the southern wall of Coprates Chasma has an elongated mound protruding from the central edge and is suggested to be the outer limits of a fault block which is back rotated 6° south. The rotation may be the result of the Valles Marineris opening.

DEFORMATION OF INTERIOR LAYERED DEPOSITS (ILD) AND THEIR ASSOCIATED LANDFORMS IN WEST CANDOR CHASMA, MARS: IMPLICATIONS FOR THE TIMING OF ILD DEPOSITION

On Mars, interior layered deposits (ILD) provide evidence that water was once stable at the surface of the planet and present in large quantities. In West Candor Chasma, the ILD and their associated landforms record the depositional history of the chasma, and the deformation of those deposits provide insight into the stresses acting on them and the chasma as a whole. The post ILD structural history of West Candor is interpreted by analyzing the spatial relationships and orientation trends of structural features within the ILD. Therecording of stresses through brittle deformation of ILDs implies that the ILD had been lithified before the stress was imposed. Based on the prominent orientation trends of deformation features, the orientation of the stress regime acting upon the ILD appears to be linked to the regime that initially created the chasma-forming faults. An additional minor stress orientation was also revealed and may be related to large structures outside west Candor Chasma. The late depositional history of Ceti Mensa is herein investigated by examining the attributes and spatial relationship between unique corrugated, linear formations (CLF). The CLFs appear to be aeolian in origin but display clear indications of brittle deformation, indicating they have been Iithified. Evidence of lithification and the mineral composition of the surrounding material support the interpretation of circulating water in the area.

Niagara Suspension Bridge Bank note, 1841

The Niagara Suspension Bridge Bank operated in Queenston in 1840. The bank issued notes in denominations of ten dollars, five dollars and one dollar, and featured a drawing of the Queenston-Lewiston Bridge, ten years prior to its construction. The notes are signed by the bank’s Cashier, Gilbert McMicken, and President, Joseph Hamilton. The bank failed a year after its establishment.