901 resultados para Mortgage-backed securities


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Els projectes d'innovaci?? educativa promoguts per les administracions p??bliques es poden convertir en eines poderoses de dinamitzaci?? d'un centre escolar. La implementaci?? del Projecte d'immersi?? en angl??s a la tardor i el Projecte ARCE al CEIP Blai Bonet (Santany??), mitjan??ant un conjunt de tasques interdisciplin??ries i interc??cliques, ha servit per promoure el treball en equip; una estructura educativa en xarxa; una comunitat d'aprenentatge i un sentit compartit de pertinen??a a l'escola. Aquestes finalitats s'han anat assolint a partir de la planificaci?? i aplicaci?? d'activitats significatives per als alumnes en relaci?? amb cinc blocs tem??tics convergents en els dos projectes educatius: Aigua, Terra, Flora, Fauna i Impacte hum?? de l'entorn mediambiental (la comarca, l'illa, la pen??nsula Ib??rica, el planeta Terra). Explicarem la nostra experi??ncia educativa i el valor dels projectes d'innovaci?? com a for??a impulsora per millorar les compet??ncies b??siques dels alumnes i per generar pr??ctiques de col??laboraci?? entre l'equip docent, la comunitat educativa i les institucions de l'entorn.

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Esta tesis doctoral examina las repercusiones de la llamada "Gran Depresión" de finales del siglo XIX sobre la sociedad rural catalana a partir del análisis del que puede ser visto como uno de los síntomas más característicos de cualquier crisis agraria: la pérdida de derechos de propiedad sobre la tierra o sobre otros inmuebles de carácter rural como consecuencia de reclamaciones de deudas, promovidas por particulares o por el Estado, que culminaron en subasta pública. El trabajo ha sido dividido en dos secciones. En la primera se analiza la desposesión causada por procedimientos ejecutivos impulsados por la Administración de Hacienda por impuestos impagados. En la segunda se ha estudiado la actividad judicial que concluyó en subasta pública de bienes inmuebles, y se han mostrado sus relaciones con la situación agraria, especialmente en los sectores del trigo y de la vid.

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This paper discusses proposals for common euro area sovereign securities. Such instruments can potentially serve two functions: in the short-term, stabilize financialmarkets and banks and, in the medium-term, help improve the euro area economic governance framework through enhanced fiscal discipline and risk-sharing. Many questions remain onwhether financial instruments can ever accomplish such goals without bold institutional and political decisions, and,whether, in the absence of such decisions, they can create new distortions. The proposals discussed are also not necessarily competing substitutes; rather, they can be complements to be sequenced along alternative paths that possibly culminate in a fully-fledged Eurobond. The specific path chosen by policymakers should allow for learning and secure the necessary evolution of institutional infrastructures and political safeguards.

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Different economic and financial structures require different crisis responses. Different crises also require different tools and resources. The first ‘stage’ of the financial crisis (2007-09) was similar on both sides of the Atlantic, and the response was also quite similar. The second stage of the crisis is unique to the euro area. Increasing financial disintegration within the region has forced the ECB to become the central counterparty for the entire cross-border banking market and to intervene in the sovereign bond market of some stressed countries. The actions undertaken by the European Central Bank (ECB), however, have not always represented the best response, in terms of effectiveness, consistency and transparency. This is especially true for the Securities Markets Programme (SMP): by de facto imposing its absolute seniority during the Greek PSI (private sector involvement), the ECB has probably killed its future effectiveness.

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After more than a decade of indecision, the EU is finally now set to implement a consistent regulatory architecture for clearing and settlement. Following the agreement on a European market infrastructure Regulation (EMIR), the European Commission has proposed harmonised rules for centralised settlement depositaries (CSDs), while the European Central Bank is moving forward with its plans for a central eurozone settlement engine. This paper analyses three components of the new post-trade infrastructure measures: 1) the regulatory framework for and supervision of central counterparties under the new EMIR legislation, 2) the authorisation requirements of trade repositories and 3) the draft CSD Regulation and the progress with the ECB’s Target 2 Securities project. It then discusses the impact of the new rules, and argues that, analogous to the unexpected impact of MiFID on trading infrastructures, a similar EMIR revolution may be on its way.

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Ochre samples excavated from the neolithic site at Qatalhoyuk, Turkey have been compared with "native" ochres from Clearwell Caves, UK using infrared spectroscopy backed up by Raman spectroscopy, scanning electron microscopy (with energy-dispersive X-rays (EDX) analysis), powder X-ray diffraction, diffuse reflection UV-Vis and atomic absorption spectroscopies. For the Clearwell Caves ochres, which range in colour from yellow-orange to red-brown, it is shown that the colour is related to the nature of the chromophore present and not to any differences in particle size. The darker red ochres contain predominantly haematite while the yellow ochre contains only goethite. The ochres from Qatalhoyuk contain only about one-twentieth of the levels of iron found in the Clearwell Caves ochres. The iron oxide pigment (haematite in all cases studied here) has been mixed with a soft lime plaster which also contains calcite and silicate (clay) minerals. (C) 2003 Elsevier B.V. All rights reserved.

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Samples taken from middens at the Neolithic site of Catalhoyuk in Turkey have been analysed using IR spectroscopy backed up by powder XRD and SEM-EDX. Microcomponents studied include fossil hack-berries (providing evidence of ancient diet and seasonality), mineral nodules (providing evidence of post-depositional change) and phytoliths (mineralised plant cells, providing evidence of usage of plant species). Finely laminated ashy deposits have also been investigated allowing chemical and mineralogical variations to be explored. It is found that many layers which appear visually to be quite distinctive have, in fact, very similar mineralogy. (C) 2009 Elsevier B.V. All rights reserved.

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Literature on investors' holding periods for securities suggests that high transaction costs are associated with longer holding periods. Return volatility, by contrast, is associated with shorter holding periods. In real estate, high transaction costs and illiquidity imply longer holding periods. Research on depreciation and obsolescence suggests that there might be an optimal holding period. Sales rates and holding periods for U.K. institutional real estate are analyzed, using a proportional hazards model, over an 18-year period. The results show longer holding periods than those claimed by investors, with marked differences by type of property and over time. The results shed light on investor behavior.

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Time-resolved kinetic studies of the reaction of silylene, SiH2, generated by laser flash photolysis of phenylsilane, have been carried out to obtain rate constants for its bimolecular reaction with O-2. The reaction was studied in the gas phase over the pressure range 1-100 Torr in SF6 bath gas, at five temperatures in the range 297-600 K. The second order rate constants at 10 Torr were fitted to the Arrhenius equation: log(k/cm(3) molecule(-1) s(-1)) = (-11.08 +/- 0.04) + (1.57 +/- 0.32 kJ mol(-1))/RT ln10 The decrease in rate constant values with increasing temperature, although systematic is very small. The rate constants showed slight increases in value with pressure at each temperature, but this was scarcely beyond experimental uncertainty. From estimates of Lennard-Jones collision rates, this reaction is occurring at ca. 1 in 20 collisions, almost independent of pressure and temperature. Ab initio calculations at the G3 level backed further by multi-configurational (MC) SCF calculations, augmented by second order perturbation theory (MRMP2), support a mechanism in which the initial adduct, H2SiOO, formed in the triplet state (T), undergoes intersystem crossing to the more stable singlet state (S) prior to further low energy isomerisation processes leading, via a sequence of steps, ultimately to dissociation products of which the lowest energy pair are H2O + SiO. The decomposition of the intermediate cyclo-siladioxirane, via O-O bond fission, plays an important role in the overall process. The bottleneck for the overall process appears to be the T -> S process in H2SiOO. This process has a small spin orbit coupling matrix element, consistent with an estimate of its rate constant of 1 x 10(9) s(-1) obtained with the aid of RRKM theory. This interpretation preserves the idea that, as in its reactions in general, SiH2 initially reacts at the encounter rate with O-2. The low values for the secondary reaction barriers on the potential energy surface account for the lack of an observed pressure dependence. Some comparisons are drawn with the reactions of CH2 + O-2 and SiCl2 + O-2.

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Ochre samples excavated from the neolithic site at Qatalhoyuk, Turkey have been compared with "native" ochres from Clearwell Caves, UK using infrared spectroscopy backed up by Raman spectroscopy, scanning electron microscopy (with energy-dispersive X-rays (EDX) analysis), powder X-ray diffraction, diffuse reflection UV-Vis and atomic absorption spectroscopies. For the Clearwell Caves ochres, which range in colour from yellow-orange to red-brown, it is shown that the colour is related to the nature of the chromophore present and not to any differences in particle size. The darker red ochres contain predominantly haematite while the yellow ochre contains only goethite. The ochres from Qatalhoyuk contain only about one-twentieth of the levels of iron found in the Clearwell Caves ochres. The iron oxide pigment (haematite in all cases studied here) has been mixed with a soft lime plaster which also contains calcite and silicate (clay) minerals. (C) 2003 Elsevier B.V. All rights reserved.

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Samples taken from middens at the Neolithic site of Catalhoyuk in Turkey have been analysed using IR spectroscopy backed up by powder XRD and SEM-EDX. Microcomponents studied include fossil hack-berries (providing evidence of ancient diet and seasonality), mineral nodules (providing evidence of post-depositional change) and phytoliths (mineralised plant cells, providing evidence of usage of plant species). Finely laminated ashy deposits have also been investigated allowing chemical and mineralogical variations to be explored. It is found that many layers which appear visually to be quite distinctive have, in fact, very similar mineralogy. (C) 2009 Elsevier B.V. All rights reserved.

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Chatterbox Challenge is an annual web-based contest for artificial conversational systems, ACE. The 2010 instantiation was the tenth consecutive contest held between March and June in the 60th year following the publication of Alan Turing’s influential disquisition ‘computing machinery and intelligence’. Loosely based on Turing’s viva voca interrogator-hidden witness imitation game, a thought experiment to ascertain a machine’s capacity to respond satisfactorily to unrestricted questions, the contest provides a platform for technology comparison and evaluation. This paper provides an insight into emotion content in the entries since the 2005 Chatterbox Challenge. The authors find that synthetic textual systems, none of which are backed by academic or industry funding, are, on the whole and more than half a century since Weizenbaum’s natural language understanding experiment, little further than Eliza in terms of expressing emotion in dialogue. This may be a failure on the part of the academic AI community for ignoring the Turing test as an engineering challenge.