975 resultados para catastrophe bonds


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The primary sequence and three-dimensional structure of a novel peptide toxin isolated from the Australian funnel-web spider Hadronyche infensa sp. is reported. ACTX-HI:OB4219 contains 38 amino acids, including eight-cysteine residues that form four disulfide bonds. The connectivities of these disulfide bonds were previously unknown but have been unambiguously determined in this study. Three of these disulfide bonds are arranged in an inhibitor cystine-knot (ICK) motif, which is observed in a range of other disulfide-rich peptide toxins. The motif incorporates an embedded ring in the structure formed by two of the disulfides and their connecting backbone segments penetrated by a third disulfide bond. Using NMR spectroscopy, we determined that despite the isolation of a single native homologous product by RP-HPLC, ACTX-HI:OB4219 possesses two equally populated conformers in solution. These two conformers were determined to arise from cis/trans isomerization of the bond preceding Pro30. Full assignment of the NMR spectra for both conformers allowed for the calculation of their structures, revealing, the presence of a triple-stranded antiparallel sheet consistent with the inhibitor cystine-knot (ICK) motif.

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(...) Os number bonds (esquemas todo-partes) constituem um dos procedimentos didáticos mais famosos do Método de Singapura. Estas representações auxiliam a compreensão numérica basilar, nomeadamente a capacidade de decompor quantidades e a álgebra fundamental (adições e subtrações). Neste artigo, analisaremos o que são, quais as vantagens e a forma de utilização destes esquemas no 1.º ano de escolaridade. (...)

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A Work Project, presented as part of the requirements for the Award of a Masters Degree in Management from the NOVA – School of Business and Economics

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A Work Project, presented as part of the requirements for the Award of a Masters Degree in Management from the NOVA – School of Business and Economics

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A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics

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This case study focuses on the BPI’s recapitalization plan, its causes and the reasons for the early reimbursement of CoCos in June 2014. The need for a capital intervention and the subsequent subscription agreement with the Portuguese Government of €1 500 million Core Tier 1 instruments were the result of a temporary capital buffer for sovereign debt exposures imposed by the European Banking Authority. The capital increase, the positive earnings in 2012 and 2013, the improvements in the sovereign debt crisis, the implementation of Basel III, in addition to the public exchange offer and the conversion of deferred tax assets into tax credits are the main factors for concluding the entire recapitalization operation three years before the deadline.

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This study attempts to identify basis-trading opportunities in the European banking sector by comparing two different measures for the market’s assessment of risk: market-observed CDS spreads and model-implied Z-spreads. Using a sample of 10 banks, over a period of 3 years following the European banking crisis, it can be concluded that there were arbitrage opportunities in the sector, as evidenced by the derived negative bases.

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In this paper we develop a contingent valuation model for zero-coupon bonds with default. In order to emphasize the role of maturity time and place of the lender’s claim in the hierarchy of debt of a firm, we consider a firm that issues two bonds with different maturities and different seniorage. The model allows us to analyze the implications of both debt renegotiation and capital structure of a firm on the prices of bonds. We obtain that renegotiation brings about a significant change in the bond prices and that the effect is dispersed through different channels: increasing the value of the firm, reallocating payments, and avoiding costly liquidation. Moreover, the presence of two creditors leads to qualitatively different implications for pricing, while emphasizing the importance of bond covenants and renegotiation of the entire debt.

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This paper introduces a new database on Irish land bonds listed on the Dublin Stock Exchange from 1891 to 1938: it outlines the nature of these bonds and presents data on their size, liquidity and market returns. These government-guaranteed bonds arose during a period when the possibility of Irish secession from the United Kingdom appeared ever more likely, and were used to finance the transfer of land ownership from landlords to tenants in Ireland (North & South). Movements in the prices of these bonds can help to understand how financial markets responded to events in the early economic and political history of the Irish Free State, including Irish partition, Independence, Civil War and de facto default. Understanding these issues has contemporary relevance for regions in Spain (Catalonia, Euskadi), Great Britain (Scotland) and Belgium (Flanders).

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Biotic effects of the Chicxulub impact, the K-T event and sea level change upon planktic foraminifera were evaluated in a new core and outcrops along the Brazos River, Texas, about 1000 km from the Chicxulub impact crater on Yucatan, Mexico. Sediment deposition occurred in a middle neritic environment that shallowed to inner neritic depths near the end of the Maastrichtian. The sea level fall scoured submarine channels, which were infilled by a sandstone complex with reworked Chicxulub impact spherules and clasts with spherules near the base. The original Chicxulub impact ejecta layer was discovered 45-60 cm below the sandstone complex, and predates the K-T mass extinction by about 300,000 years. Results show that the Chicxulub impact caused no species extinctions or any other significant biotic effects. The subsequent sea level fall to inner neritic depth resulted in the disappearance of all larger (>150 mu m) deeper dwelling species creating a pseudo-mass extinction and a survivor assemblage of small surface dwellers and low oxygen tolerant taxa. The K-T boundary and mass extinction was identified 40-80 cm above the sandstone complex where all but some heterohelicids, hedbergellids and the disaster opportunistic guembelitfids went extinct, coincident with the evolution of first Danian species and the global delta(13)C shift. These data reveal that sea level changes profoundly influenced marine assemblages in near shore environments, that the Chicxulub impact and K-T mass extinction are two separate and unrelated events, and that the biotic effects of this impact have been vastly overestimated. (C) 2008 Elsevier B.V. All rights reserved.