A intervenção estatal sobre o mercado bancário no Brasil por meio dos bancos públicos: a tentativa de redução dos spreads em 2012

As taxas de juros cobradas pelos bancos têm sido alvo constante de críticas por parte da opinião pública e de preocupação por parte do governo. Uma das razões para essas altas taxas, além do nível elevado da taxa básica de juros SELIC, são os altos spreads cobrados pelos bancos. Uma das formas para tentar diminuir esse nível é aumentar a competitividade entre os bancos. Entretanto, uma suposta dificuldade para se atingir um maior nível de competição é o grau de concentração bancária existente hoje no Brasil. Nesse sentido, o governo brasileiro pressionou o mercado bancário para reduzir seus spreads e taxas durante o primeiro semestre de 2012, um período de aparente estabilidade macroeconômica e de forte queda da taxa SELIC. A pressão exercida pelo governo surtiu efeito, inicialmente sobre os bancos públicos, e, posteriormente, sobre os bancos privados, que anunciaram publicamente a redução de taxas para diversas operações. Este trabalho buscou entender as dimensões e origens dos efeitos desse posicionamento do governo sobre os spreads e a rentabilidade dos maiores bancos brasileiros. Como resultado, observou-se a efetividade da atuação governamental na redução do spread ex post, da rentabilidade das operações de crédito (proxy da taxa) e da rentabilidade geral dos bancos públicos e privados. Apesar disso, houve recuo por parte dos bancos privados na concessão de crédito apontando para o poder de mercado dessas instituições e levantando dúvidas sobre a real capacidade da utilização dos bancos públicos para fomentar maior competitividade em um ambiente de incerteza econômica.

The bacterial chromosome segregation protein Spo0J spreads along DNA from parS nucleation sites

Regulation of chromosome inheritance is essential to ensure proper transmission of genetic information. To accomplish accurate genome segregation, cells organize their chromosomes and actively separate them prior to cytokinesis. In Bacillus subtilis the Spo0J protein is required for accurate chromosome segregation and it regulates the developmental switch from vegetative growth to sporulation. Spo0J is a DNA-binding protein that recognizes at least eight identified parS sites located near the origin of replication. As judged by fluorescence microscopy, Spo0J forms discrete foci associated with the oriC region of the chromosome throughout the cell cycle. In an attempt to determine the mechanisms utilized by Spo0J to facilitate productive chromosome segregation, we have investigated the DNA binding activity of Spo0J. In vivo we find Spo0J associates with several kilobases of DNA flanking its specific binding sites (parS) through a parS-dependent nucleation event that promotes lateral spreading of Spo0J along the chromosome. Using purified components we find that Spo0J has the ability to coat non-specific DNA substrates. These 'Spo0J domains' provide large structures near oriC that could potentially demark, organize or localize the origin region of the chromosome.

Os altos spreads bancários no Brasil e seus determinantes

O presente trabalho tem por objetivo compreender os motivos que podem explicar as altas taxas de juros de empréstimos no Brasil no período de 1999 a 2009. O estudo pretende identificar e caracterizar a evolução, a estrutura e determinantes do spread bancário. Na evolução, mostra-se o comportamento do spread no período. Na estrutura, demonstra-se a decomposição contábil efetuada pelo Bacen. Já os determinantes são a taxa Selic, a concorrência e a concentração bancária e o ambiente legal

Effect of the Type of Emulsifying Salt on Microstructure and Rheological Properties of "Requeijao Cremoso" Processed Cheese Spreads

The role of different types of emulsifying saltssodium citrate (TSC), sodium hexametaphosphate (SHMP), sodium tripolyphosphate (STPP) and tetrasodium pyrophosphate (TSPP)on microstructure and rheology of requeijao cremoso processed cheese was determined. The cheeses manufactured with TSC, TSPP, and STPP behaved like concentrated solutions, while the cheese manufactured with SHMP exhibited weak gel behavior and the lowest values for the phase angle (G/G). This means that SHMP cheese had the protein network with the largest amount of molecular interactions, which can be explained by its highest degree of fat emulsification. Rotational viscometry indicated that all the spreadable cheeses behaved like pseudoplastic fluids. The cheeses made with SHMP and TSPP presented low values for the flow behavior index, meaning that viscosity was more dependent on shear rate. Regarding the consistency index, TSPP cheese showed the highest value, which could be attributed to the combined effect of its high pH and homogeneous fat particle size distribution.

Do Words Matter? The Impact of Communication on the PIIGS' CDS and Bond Yield Spreads during Europe's Sovereign Debt Crisis

The paper aims to shed light on the role of communication in the European debt crisis. It examines the effects of public statements by ECB Governing Council members, EU officials and national representatives on the PIIGS' CDS and bond yield spreads. The focus lies on dovish statements that signal strong determination in the rescue of indebted countries, and hawkish statements that indicate limited commitment to support the PIIGS and protect its creditors. The analysis of daily data for the period between January 1, 2009 and August 12, 2011 in an EGARCH framework suggests that communication by representatives of Germany, France, and the EU as well as ECB Governing Council members had an immediate impact on both types of securities. No effects.

Listeria monocytogenes spreads within the brain by actin-based intra-axonal migration

Listeria monocytogenes rhombencephalitis is a severe progressive disease despite a swift intrathecal immune response. Based on previous observations, we hypothesized that the disease progresses by intra-axonal spread within the central nervous system. To test this hypothesis, neuroanatomical mapping of lesions, immunofluorescence analysis, and electron microscopy were performed on brains of ruminants with naturally occurring rhombencephalitis. In addition, infection assays were performed in bovine brain cell cultures. Mapping of lesions revealed a consistent pattern with a preferential affection of certain nuclear areas and white matter tracts, indicating that Listeria monocytogenes spreads intra-axonally within the brain along interneuronal connections. These results were supported by immunofluorescence and ultrastructural data localizing Listeria monocytogenes inside axons and dendrites associated with networks of fibrillary structures consistent with actin tails. In vitro infection assays confirmed that bacteria were moving within axon-like processes by employing their actin tail machinery. Remarkably, in vivo, neutrophils invaded the axonal space and the axon itself, apparently by moving between split myelin lamellae of intact myelin sheaths. This intra-axonal invasion of neutrophils was associated with various stages of axonal degeneration and bacterial phagocytosis. Paradoxically, the ensuing adaxonal microabscesses appeared to provide new bacterial replication sites, thus supporting further bacterial spread. In conclusion, intra-axonal bacterial migration and possibly also the innate immune response play an important role in the intracerebral spread of the agent and hence the progression of listeric rhombencephalitis.

Circulating tumor cells as trigger to hematogenous spreads and potential biomarkers to predict the prognosis in ovarian cancer.

Despite several improvements in the surgical field and in the systemic treatment, ovarian cancer (OC) is still characterized by high recurrence rates and consequently poor survival. In OC, there is still a great lack of knowledge with regard to cancer behavior and mechanisms of recurrence, progression, and drug resistance. The OC metastatization process mostly occurs via intracoelomatic spread. Recent evidences show that tumor cells generate a favorable microenvironment consisting in T regulatory cells, T infiltrating lymphocytes, and cytokines which are able to establish an "immuno-tolerance mileau" in which a tumor cell can become a resistant clone. When the disease responds to treatment, immunoediting processes and cancer progression have been stopped. A similar inhibition of the immunosuppressive microenvironment has been observed after optimal cytoreductive surgery as well. In this scenario, the early identification of circulating tumor cells could represent a precocious signal of loss of the immune balance that precedes cancer immunoediting and relapse. Supporting this hypothesis, circulating tumor cells have been demonstrated to be a prognostic factor in several solid tumors such as colorectal, pancreatic, gastric, breast, and genitourinary cancer. In OC, the role of circulating tumor cells is still to be defined. However, as opposed to healthy women, circulating tumor cells have been demonstrated in peripheral blood of OC patients, opening a new research field in OC diagnosis, treatment monitoring, and follow-up.

Diminished UV-absorbing nets reduce the Spreads and population density of Macrosiphum euphorbiae in lettuce.

UV-absorbing covers reduce the incidence of injurious insect pests and viruses in protected crops. In the present study, the effect of a UV-absorbing net (Bionet) on the spatio-temporal dynamics of the potato aphid on lettuce plants was evaluated. A field experiment was conducted during three seasons in two identical tunnels divided in four plots. A set of lettuce plants were artificially infested with Macrosiphum euphorbiae adults and the population was estimated by counting aphids on every plant over 7 to 9 weeks. Insect population grew exponentially but a significantly lower aphid density was present on plants grown under the UV-absorbing cover compared to a standard 50 mesh net. Similarly, in laboratory conditions, life table parameters were significantly reduced under the Bionet. Moreover, SADIE analysis showed that the spatial distribution of aphids was effectively limited under the UV-absorbing nets. Our results indicate that UV-absorbing nets should be considered as an important component of lettuce indoor cropping systems preventing pesticide applications and reducing the risk of spread of aphid-borne virus diseases.