Was the ECB’s Comprehensive Assessment up to standard? CEPS Policy Brief No. 325, 10 November 2014

The Comprehensive Assessment conducted by the European Central Bank (ECB) represents a considerable step forward in enhancing transparency in euro-area banks’ balance sheets. The most notable progress since the previous European stress test has been the harmonisation of the definition of non-performing loans and other concepts as well as uncovering hidden losses, which resulted in a €34 billion aggregate capital-charge net of taxes. Despite this tightening, most banks were able to meet the 5.5% common equity tier 1 (CET1) threshold applied in the test, which suggests that the large majority of the euro-area banks have improved their financial position sufficiently that they should no longer be constrained in financing the economy. As shown in this CEPS Policy Brief by Willem Pieter de Groen, however, the detailed results provide a more nuanced picture: there remain a large number of the banks in the euro area that are still highly leveraged and in many cases unable to meet the regulatory capital requirements that will be introduced in the coming years under the adverse stress test scenario.

La nécessité d'une multiplicité de concepts de gène en biologie

Le concept de gène est central en biologie. Certains ont avancé (Ruse (1971, 1976)) que la génétique classique pouvait être réduite à la génétique moléculaire. Dans le même ordre d'idée, Richard Dawkins, dans The Extended Phenotype, offre une double définition de son concept de gène qui présuppose qu'il soit possible d'opérer cette réduction. Nous comptons montrer que la génétique moléculaire et la génétique des populations ont chacune leurs problématiques propres en reconstituant l'histoire de la génétique depuis Darwin. Ensuite, nous expliciterons la position de Dawkins et soulignerons les contradictions auxquelles il parvient en raison de cette réduction infondée. À la suite de quoi, nous nous attarderons aux nouvelles découvertes moléculaires qui montrent qu'il n'est pas possible d'opérer la réduction d'un des concepts à l'autre. Nous terminerons en soulignant que la thèse génocentriste de Dawkins n'est pas mise en péril par l'abandon de la réduction, mais qu'il est nécessaire de tempérer ces prétentions. La conclusion globale de ce mémoire est qu'il est possible d'admettre le concept de Dawkins, mais pas la manière dont il l'utilise. Le concept est bon, il n'est tout simplement pas dans le bon cadre théorique.

Tongass National Forest (N.F.), Quartz Hill road access, bulk sampling permit D,Dapp,Dsup,F,Fapp; Draft mining development concepts B1; Mining development concepts : environmental impact statement.

Mode of access: Internet.

Concepts for a low-cost motorist information system. Final report.

Federal Highway Administration, Washington, D.C.

Development of new concepts in low tire pressure warning devices. Final report.

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

Language minority children at risk in America : concepts, definitions and estimates /

Cover title.

Conventional and advanced sewer design concepts for dual purpose flood and pollution control : a preliminary case study, Elizabeth, New Jersey /

Mode of access: Internet.

Concepts and techniques of machine safeguarding.

Shipping list no.: 92-486-P.

An evaluation of existing motor vehicle diagnostic inspection concepts. Volume I: executive summary. Final report.

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

An evaluation of existing motor vehicle diagnostic inspection concepts. Volume II: characteristics of motor diagnostic inspection facilities. Final Task 1 report.

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

An evaluation of existing motor vehicle diagnostic inspection concepts. Volume III: characteristics of periodic vehicle inspection programs. (Results of Task 2). Final Task 2 report.

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