Multilateral Interchange Fees: Competition and regulation in light of recent legislative developments. ECRI Research Report No. 14, 31 January 2014

Two-sided payment card markets generate costs that have to be distributed among the participating actors. For this purpose, payment card networks set an interchange fee, which is the fee paid by the merchant’s bank to the cardholder’s bank per transaction. While in recent years many antitrust authorities all over the world - including the European Commission - have opened proceedings against card brands in order to verify whether agreements to collectively establish the level of interchange fees are anticompetitive, the Reserve Bank of Australia – as a regulator - has directly tried to address market failures by lowering the level of interchange fees and changing some network rules. The US has followed with new legislation on financial consumer protection, which also intervenes on interchange fees. This has opened a strong debate not only on legitimacy of interchange fees, but also on the appropriateness of different public tools to address such issues. Drawing from economic and legal theories and a comparative analysis of recent case law in the EU and other jurisdictions, this work investigates whether a regulation rather than a purely competition policy approach would be more appropriate in this field, considering in particular, at EU level, all of the competition and regulatory concerns that have arisen from the operation of SEPA with multilateral interchange fees. The paper concludes that a wider regulation approach could address some of the shortcomings of a purely antitrust approach, proving to be highly beneficial to the development of an efficient European single payments area.

Statistical models of accidents on interchange ramps and speed-change lanes.

Federal Highway Administration, Office of Safety and Traffic Operations, Washington, D.C.

Plan for interchange of Mexican-American Scholarships, City of Mexico, 1920-1921.

Mode of access: Internet.

Effects of supplemental interchange signing on driver control behavior. Final report.

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

An analysis of expected delay reduction by replacing a congested at-grade intersection with an interchange.

Texas Department of Transportation, Austin

Peripheral Interchange Program (PIP) /

Thesis (M. S.)--University of Illinois at Urbana-Champaign.

Hardwicke's science-gossip : an illustrated medium of interchange and gossip for students and lovers of nature.

Editors: 1865-71, M. C. Cooke; 1872-93, J. E. Taylor.

Signing treatments for interchange lane drops /

Final report.

Analyse critique du contenu linguistique de la méthode New Interchange en anglais L2

Mémoire numérisé par la Direction des bibliothèques de l'Université de Montréal.

Analyse critique du contenu linguistique de la méthode New Interchange en anglais L2

Mémoire numérisé par la Direction des bibliothèques de l'Université de Montréal.

Fisheries stocks from an ecological perspective: Disentangling ecological connectivity from genetic interchange

The concept of a stock of fish as a management unit has been around for well over a hundred years, and this has formed the basis for fisheries science. Methods for delimiting stocks have advanced considerably over recent years, including genetic, telemetric, tagging, geochemical and phenotypic information. In parallel with these developments, concepts in population ecology such as meta-population dynamics and connectivity have advanced. The pragmatic view of stocks has always accepted some mixing during spawning, feeding and/or larval drift. Here we consider the mismatch between ecological connectivity of a matrix of populations typically focussed on demographic measurements, and genetic connectivity of populations that focus on genetic exchange detected using modern molecular approaches. We suggest that from an ecological-connectivity perspective populations can be delimited as management units if there is limited exchange during recruitment or via migration in most years. From a genetic-connectivity perspective such limited exchange can maintain panmixia. We use case-studies of species endangered by overexploitation and/or habitat degradation to show how current methods of stock delimitation can help in managing populations and in conservation.