The Challenges of the EU Banking Union - will it succeed in dealing with the next financial crisis? Bruges European Economic Policy Briefings 36/2015

The EU Banking Union combines micro- and macro-prudential regulation. It aims at breaking the “doom loop” between banks and sovereign debt, promoting financial stability and mitigating the next financial shock to the real EU economy, at the lowest possible cost to the financial institutions and to the taxpayers. Success, or failure, is determined by how the banking union copes with the challenges to its two main pillars, the Single Supervisory Mechanism (SSM) and the Single Resolution Mechanism (SRM). Under the SSM, in its new supervisory role, the ECB may be subject to conflicts between the objectives of price and financial stability, and the single-supervisor role may be sub-optimal. Two regulators might have been preferable and more focus on ECB accountability will now be required. The shock-absorbing Single Resolution Fund (SRF), which is part of the SRM, may not have the capacity to deal with a crisis of the size of the one of 2008. Especially as the nature and severity of a future financial crisis cannot be forecasted. The design of the banking union is not the result of theoretical studies, but a political compromise to deal with an acute crisis. The theoretical studies that are included in this paper are not supportive of the banking union in its current form. Nevertheless, there is a good chance that the EU Banking Union may succeed, as ECB supervision of the 123 systemically important banks should contain potential demands on the SRM. In the event of a crisis that is too severe for the banking union to absorb with its current capability, the crucial assumption is that there is political will to rapidly provide new resources. The same applies, if a major financial crisis develops before the banking union is fully operational.

The Challenges of the EU Banking Union - will it succeed in dealing with the next financial crisis? Bruges European Economic Policy (BEEP) Briefings 36/2015

The EU Banking Union combines micro- and macro-prudential regulation. It aims at breaking the “doom loop” between banks and sovereign debt, promoting financial stability and mitigating the next financial shock to the real EU economy, at the lowest possible cost to the financial institutions and to the taxpayers. Success, or failure, is determined by how the banking union copes with the challenges to its two main pillars, the Single Supervisory Mechanism (SSM) and the Single Resolution Mechanism (SRM). Under the SSM, in its new supervisory role, the ECB may be subject to conflicts between the objectives of price and financial stability, and the single-supervisor role may be sub-optimal. Two regulators might have been preferable and more focus on ECB accountability will now be required. The shock-absorbing Single Resolution Fund (SRF), which is part of the SRM, may not have the capacity to deal with a crisis of the size of the one of 2008. Especially as the nature and severity of a future financial crisis cannot be forecasted. The design of the banking union is not the result of theoretical studies, but a political compromise to deal with an acute crisis. The theoretical studies that are included in this paper are not supportive of the banking union in its current form. Nevertheless, there is a good chance that the EU Banking Union may succeed, as ECB supervision of the 123 systemically important banks should contain potential demands on the SRM. In the event of a crisis that is too severe for the banking union to absorb with its current capability, the crucial assumption is that there is political will to rapidly provide new resources. The same applies, if a major financial crisis develops before the banking union is fully operational.

Ceramic formulation and processing design for plutonium disposition

The focus of this research programme is to develop a single phase ceramic wasteform for waste PuO2 that is unsuitable for fuel manufacture. A suite of synthetic mineral systems have been considered including titanate, zirconate, phosphate and silicate based matrices. Although a wealth of information on plutonium disposition in some of the systems exists in the literature, the data is not always directly comparable which hinders comparison between different ceramic hosts. The crux of this research has been to compile a database of information on the proposed hosts to allow impartial comparison of the relative merits of each system. © 2009 Materials Research Society.

Architecture and Design, College of. Interior

Drawing class. 1949

Urban Vehicle Design Competition

The "Urban Car One Thousand" is designed to hold two passengers 35 hp wankel type rotation combustion engine Competition intended to provide a forum for students to express a technological solution to the urban transportation crisis. Students, left ot right, Mitch Walker, Tom Newhouse, Mark Bonnette

Catherine Heller,Professor of Design, March 1964

preferred 4 x 5 inch negative, clipped - source for vintage prints in same envelope

Sanford Rossen's design for a robot professor, December 1950

Drawing class. 1949

Symbol signing design for older drivers.

Mode of access: Internet.

Safety aspects of roadside cross-section design. Final report.

Federal Highway Administration, Office of Research and Development, Washington, D.C.

Large school bus design vehicle dimensions.

Arkansas State Highway and Transportation Department, Little Rock

Advanced recorder design and development. Final report.

National Highway Traffic Safety Administration, Washington, D.C.

Driver expectancy in highway design and traffic operations. Final report.

Mode of access: Internet.