Address of Mr. C. G. Memminger, to the people of St. Phillip's and St. Michael's, in relation to the Bank of the State : containing facts and arguments in favor of the bill, which he was prevented from presenting before the House, at the last session of the Legislature

This document contains the facts and arguments in favor of the bill, which he was prevented from presenting before the House of Representatives at the last session of the legislature.

Sources and transport of surface sediment and metals in B.C. fjord, Tahsis Inlet

Senior thesis written for Oceanography 445

River Sediment Sampling and Environment Quality Standards: A Case Study of the Ravensbourne River

Sediment is a major sink for heavy metals in river, and poses significant risks not only to river quality but also to aquatic and benthic organisms. At present in the UK, there are no mandatory sediment quality standards. This is partly due to insufficient toxicity data but also due to problems with identification of appropriate sediment monitoring and analytical techniques. The aim of this research was to examine the sampling different river sediment compartments in order to monitor compliance with any future UK sediment environmental quality standards (EQS). The significance of sediment physical and chemical characteristics on sampling and analysis was also determined. The Ravensbourne River, a tributary of the River Thames located in the highly urbanised South Eastern area of London was used for this study. Sediment was collected from the bed using the Van Veer grab, the bank using hand trowel, and from the water column (suspended sediment) using the time integrated suspended tube sampler between the period of July 2010 and December, 2011. The result for the total metal extraction carried out using aqua regia found that there were no significant differences in the metal concentrations retained in the different compartments by the <63μm sediment fraction but there were differences between the 63μm-2mm fractions of the bed and bank. The metal concentration in the bed, bank and suspended sediment exceeded the draft UK sediment quality guidelines. Sequential extraction was also carried out to determine metal speciation in each sediment compartment using the Maiz et al. (1997) and Tessier et al. (1979) methods. The Maiz et al. (1997) found over 80% of the metals in each sediment compartment were not bioavailable, while Tessier et al. (1979) method found most of the metals to be associated with the Fe/Mn and the residual phase. The bed sediment compartment and the <2mm (<63μm + 63μm-2mm) fraction appears to be the most suitable sediment sample for sediment monitoring from this study.

Cross-Industry Product Diversification and Contagion in Risk and Return: The Case of Bank-Insurance and Insurance-Bank Takeovers

We investigate the impact of domestic/international bancassurance deals on the risk-return profiles of announcing and non-announcing banks and insurers within a GARCH model. Bank-insurance deals produce intra- and inter-industry contagion in both risk and return, with larger deals producing greater contagion. Bidder banks and peers experience positive abnormal returns, with the effects on insurer peers being stronger than those on bank peers. Insurance-bank deals produce insignificant excess returns for bidder and peer insurers and positive valuations for peer banks. Following the deal, the bank bidders’ idiosyncratic (systematic) risk falls (increases), while insurance bidders exhibit a lower systematic risk and maintain their idiosyncratic risk.

Diversification, size and risk: The case of bank acquisitions of nonbank financial firms

We investigate the risk effects of bank acquisitions of insurance companies and securities firms between 1991 and 2012 using a newly constructed dataset of M&A deals. We examine risk changes before and after deal announcements by decomposing risk into systematic and idiosyncratic components. Subsequently, we investigate the relationship between risk and diversification by modelling the determinants of risks. We find that bank combinations with securities firms yield higher risks than combinations with insurance companies. Bank size is an important and consistent determinant of risk whereas diversification is not. Our results inform the continuing debate on diversification versus functional separation of bank activities.

Self-help, Saving and Suburbanisation - the Birkbeck Freehold Land and Building Societies, their Bank and the London Mechanics’ Institute 1851 – 1911.

The Birkbeck Freehold Land and Building Societies were launched in 1851 in the London Mechanics’ Institute, secured its survival, and eventually replaced its premises with the architectural ‘phantasmagoria’ of the Birkbeck Bank. Prior to its collapse in 1911 ‘the Birkbeck’ was a major element in the English property based financial system and contributed significantly to the suburban growth of London. The Institute, Societies and Bank shared a Utilitarian vision of social progress through self-help that was at times hotly contested by the radical champions of the social classes that they were initially formed to assist. Their parallel histories are attested today by ‘Birkbeck’ toponyms (including roads, pubs and a railway station) in the London landscape.

Cleanup of industrial effluents containing heavy metals: a new opportunity of valorising the biomass produced by brewing industry

Heavy metal pollution is a matter of concern in industrialised countries. Contrary to organic pollutants, heavy metals are not metabolically degraded. This fact has two main consequences: its bioremediation requires another strategy and heavy metals can be indefinitely recycled. Yeast cells of Saccharomyces cerevisiae are produced at high amounts as a by-product of brewing industry constituting a cheap raw material. In the present work, the possibility of valorising this type of biomass in the bioremediation of real industrial effluents containing heavy metals is reviewed. Given the autoaggregation capacity (flocculation) of brewing yeast cells, a fast and off-cost yeast separation is achieved after the treatment of metal-laden effluent, which reduces the costs associated with the process. This is a critical issue when we are looking for an effective, eco-friendly, and low-cost technology. The possibility of the bioremediation of industrial effluents linked with the selective recovery of metals, in a strategy of simultaneous minimisation of environmental hazard of industrial wastes with financial benefits from reselling or recycling the metals, is discussed.

Assessment of heavy metals in the surroundings of coal-fired power plant

This paper aims to survey metal concentrations in soils in the vicinity of a coal-firedpower plant located in southwest of Portugal. Two annual sampling campaigns were carried out to measure a hypothetical soil contamination around the coal plant. The sampling area was divided into two subareas, both centered in the emission source, delimited by two concentric circles with radius of 6 km and 20 km. About 40 samplings points were defined in the influence area. Metals measurements were performed with a portable analytical X-ray dispersive energy fluorescence spectrometer identifying about 20 different elements in each sampling point. The most relevant elements measured included As, Cu, Fe, Hg, Pb, Ti and Zn in both sampling areas. Considering the results obtained in the first sampling campaign, arsenic is predominantly higher within the 6-20 km sampling area. The second sampling campaign showed that both sampling areas presented relatively similar metal concentrations except for Fe, Mn, Sr and Zn which concentration is higher within the 6-20 km sampling area. Also, As, Fe, Mn and Ti concentrations decreased significantly from the first to the second sampling campaign and their concentration were predominately higher in the NE-E and E-SE directions.

Trace metals in size-fractionated particulate matter in a Portuguese hospital: exposure risks assessment and comparisons with other countries

Hospitals are considered as a special and important type of indoor public place where air quality has significant impacts on potential health outcomes. Information on indoor air quality of these environments, concerning exposures to particulate matter (PM) and related toxicity, is limited though. This work aims to evaluate risks associated with inhalation exposure to ten toxic metals and chlorine (As, Ni, Cr, Cd, Pb, Mn, Se, Ba, Al, Si, and Cl) in coarse (PM2.5–10) and fine (PM2.5) particles in a Portuguese hospital in comparison with studies representative of other countries. Samples were collected during 1 month in one urban hospital; elemental PM characterization was determined by proton-induced X-ray emission. Noncarcinogenic and carcinogenic risks were assessed according to the methodology provided by the United States Environmental Protection Agency (USEPA; Region III Risk-Based Concentration Table) for three different age categories of hospital personnel (adults, >20, and <65 years) and patients (considering nine different age groups, i.e., children of 1–3 years to seniors of >65 years). The estimated noncarcinogenic risks due to occupational inhalation exposure to PM2.5-bound metals ranged from 5.88×10−6 for Se (adults, 55–64 years) to 9.35×10−1 for As (adults, 20–24 years) with total noncarcinogenic risks (sum of all metals) above the safe level for all three age categories. As and Cl (the latter due to its high abundances) were the most important contributors (approximately 90 %) to noncarcinogenic risks. For PM2.5–10, noncarcinogenic risks of all metals were acceptable to all age groups. Concerning carcinogenic risks, for Ni and Pb, they were negligible (<1×10−6) in both PM fractions for all age groups of hospital personnel; potential risks were observed for As and Cr with values in PM2.5 exceeding (up to 62 and 5 times, respectively) USEPA guideline across all age groups; for PM2.5–10, increased excess risks of As and Cr were observed particularly for long-term exposures (adults, 55–64 years). Total carcinogenic risks highly (up to 67 times) exceeded the recommended level for all age groups, thus clearly showing that occupational exposure to metals in fine particles pose significant risks. If the extensive working hours of hospital medical staff were considered, the respective noncarcinogenic and carcinogenic risks were increased, the latter for PM2.5 exceeding the USEPA cumulative guideline of 10−4. For adult patients, the estimated noncarcinogenic and carcinogenic risks were approximately three times higher than for personnel, with particular concerns observed for children and adolescents.

Impact of multi-metals (Cd, Pb and Zn) exposure on the physiology of the yeast Pichia kudriavzevii

Metal contamination of the environment is frequently associated to the presence of two or more metals. This work aimed to study the impact of a mixture of metals (Cd, Pb and Zn) on the physiology of the non-conventional yeast Pichia kudriavzevii. The incubation of yeast cells with 5 mg/l Cd, 10 mg/l Pb and 5 mg/l Zn, for 6 h, induced a loss of metabolic activity (assessed by FUN-1 staining) and proliferation capacity (evaluated by a clonogenic assay), with a small loss of membrane integrity (measured by trypan blue exclusion assay). The staining of yeast cells with calcofluor white revealed that no modification of chitin deposition pattern occurred during the exposure to metal mixture. Extending for 24 h, the exposure of yeast cells to metal mixture provoked a loss of membrane integrity, which was accompanied by the leakage of intracellular components. A marked loss of the metabolic activity and the loss of proliferation capacity were also observed. The analysis of the impact of a single metal has shown that, under the conditions studied, Pb was the metal responsible for the toxic effect observed in the metal mixture. Intracellular accumulation of Pb seems to be correlated with the metals' toxic effects observed.

Precious transition metals: the importance of Zn2+, Mn2+ and Cu2+ in the human pathogen Enterococcus faecalis

Dissertation presented to obtain the Ph.D degree in Biology

How bank business models relate with risk?: The case of Portugal in times of financial crisis

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

Basel III new capital requirements, impacts and bank behavior

For some years, researchers could not find a clear effect of capital adequacy on the risk profile of banks, as shareholders could increase the riskiness of the assets (qualitative effect), crowding-out the effect of reduced leverage (volume effect). Some shareholders might have the will to increase the riskiness of the assets, but they may lack the power to do so. Considering only ”powerful” shareholders, definitive conclusions were drawn but with constant ownership profile. In this paper I investigate whether there is a significant change in the type of shareholders in response to regulatory capital shocks and, if so, will the banking system be in the hands of more “desired” shareholders. I find that ownership profile responds to a regulatory shock, changing the risk appetite of the ruling power at the bank. I find more banks and the government in the ownership of undercapitalised banks and much less institutional shareholders and free float. I claim that these new shareholders may not the desired ones, given the objective of the regulatory change, as they are associated with a preference for more leverage. One possible explanation for this crowding-out effect is that regulators are trying to contain idiosyncratic risk (more linked to the riskiness of the assets) with a rule that contains systematic risk (capital adequacy). This has a distorting effect on ownership. Another insight can be drawn from the tests: supervisors should be aware of significant ownership movements that cause the crowding-out.

Improving Millennium Bank's personal finance manager

Double Degree