Market risk charge of the trading book: a comparison of the Basel II and Basel III

This paper aims to investigate if the market capital charge of the trading book increased in Basel III compared to Basel II. I showed that the capital charge rises by 232% and 182% under the standardized and internal model, respectively. The varying liquidity horizons, the calibration to a stress period, the introduction of credit spread risk, the restrictions on correlations across risk categories and the incremental default charge boost Basel III requirements. Nevertheless, the impact of Expected shortfall at 97.5% is low and long term shocks decrease the charge. The standardized approach presents advantages and disadvantages relative to internal models.

The Indians called it beautiful land : your quick-fact book : Iowa, a place to grow,1975.

A pocket sized brochure containing brief information on Iowa's history, industry, agriculture, tourism, quality of life, transportation, exports for the world market, people, education and basic facts.

Boots Book-lovers' Library and the novel: The impact of a circulating library market on twentieth-century fiction

In a Report for the Society of Bookmen in 1928, British publishers estimated that between a quarter to two thirds of all the books they published went to four circulating libraries: Boots, Smith’s, Mudie’s, and The Times bookclub. This essay examines the literary impact of one of the largest of these, Boots Book-lovers’ Library (1899-66), which by 1935 had around 400 libraries attached to their high-street pharmacies catering for the tastes of over one million subscribers a year. Compared to the wealth of studies examining the influence of the library market in the Victorian period, the significance of the subscription libraries as key distributors of fiction in the twentieth century is not well known. But private libraries expanded rapidly in the early twentieth century to cater for what Sidney Dark termed a ‘new reading public’, and records in publishers’ archives indicate that authors routinely adapted their unpublished manuscripts in order to meet the perceived demands of this library reader. This article examines the impact of the Boots Book-lovers’ Library market on authors’ practices of writing and revision, and on literary marketing and censorship. It focuses in particular on the author James Hanley (1897-1985), using unpublished correspondence in the Chatto & Windus archive at the University of Reading to demonstrate how the publisher’s sense of the tastes and expectations of the Boots library reader influenced the editorial process.

Better dead: J. M. Barrie’s first book and the shilling fiction market

This article provides a critical and bibliographical discussion of J. M. Barrie’s neglected first book, Better Dead, published by Swan Sonnenschein, Lowrey & Co. in 1887. Drawing on previously unexamined evidence in the Sonnenschein archive, it shows how this shilling novel was marketed and sold to its readers at railway bookstalls, and argues that the content and style of the story was conditioned by its form. Examining the many references and allusions in the story, it proposes that the work is best understood as a satire on contemporary political, social and literary themes. The article also shows how, contrary to all published accounts, the author actually earned a small amount of money from a work which, in spite of his efforts, refused to stay dead.

A European Glass-Steagall to preserve the single market. CEPS Commentaries, 24 January 2014

In his assessment of the EU proposal on banking structural reform, unveiled on January 29th, Karel Lannoo observes that the Commission must perform a delicate balancing act between preserving the single market and at the same time accommodating existing EU measures covering resolution and trading activities.