A European Deposit Insurance and Resolution Fund - An Update. CEPS Policy Brief No. 283, 11 September 2012

Cross-border banking is currently not stable in Europe. Cross-border banks need a European safety net. Moreover, a truly integrated European level banking system may help to break the diabolical loop between the solvency of the domestic banking system and the fiscal standing of the national sovereign. This policy paper first sketches the building blocks of a banking union. Importantly, a new European Deposit Insurance and Resolution Authority (EDIRA) should start simultaneously with the ECB assuming supervisory powers. A combination of European supervision and local resolution cannot work because it is not ‘incentive compatible’. Next, this paper proposes a transition period to gradually phase in the European deposit insurance coverage. Finally, we calculate that a European Deposit Insurance Fund would amount to about €30-50 billion for the 75 euro area banks that were subject to the EBA stress tests. This Fund could be created over a period of time through risk-based deposit insurance premiums levied on these banks. Once up and running, the Fund would then turn into a European Deposit Insurance and Resolution Fund to also deal with the resolution of one or more of these European banks.

Hydraulic modeling of runoff over a rough surface under partial inundation

This study presents a numerical method to derive the Darcy- Weisbach friction coefficient for overland flow under partial inundation of surface roughness. To better account for the variable influence of roughness with varying levels of emergence, we model the flow over a network which evolves as the free surface rises. This network is constructed using a height numerical map, based on surface roughness data, and a discrete geometry skeletonization algorithm. By applying a hydraulic model to the flows through this network, local heads, velocities, and Froude and Reynolds numbers over the surface can be estimated. These quantities enable us to analyze the flow and ultimately to derive a bulk friction factor for flow over the entire surface which takes into account local variations in flow quantities. Results demonstrate that although the flow is laminar, head losses are chiefly inertial because of local flow disturbances. The results also emphasize that for conditions of partial inundation, flow resistance varies nonmonotonically but does generally increase with progressive roughness inundation.

ARCOM construction management abstracts : cumulative abstracts and indexes of journals in construction management, 1999 update

The purpose of this document is to provide a single source of reference for every paper published in the journals directly related to research in Construction Management. This volume brings together articles published during 1999. It is indexed by author and keyword and contains the titles, authors, abstracts and keywords of every article from the following journals: • Building Research and Information (BRI) • Construction Management and Economics (CME) • Engineering, Construction and Architectural Management (ECAM) • Journal of Construction Procurement (JCP) • RICS Research Papers (RICS) The index entries give short forms of the bibliographical citations, rather than page numbers, to enable rapid reference to articles. A cumulative volume is available from the editor. Included in this volume is an appendix listing a wide range of journals associated with construction management research, giving details of frequency, editorial addresses and web sites, as well as whether each journal is international and/or refereed.