Mississippi River survey, New Orleans, Louisiana, 1895 (Image 2 of 4) (Raster Image)

This layer is a georeferenced raster image of the historic paper map entitled: Survey of the Mississippi River : made under the direction of the Mississippi River Commission : chart no. 76, projected from a trigonometrical survey made by the U.S. Coast survey in 1874. It was published by the Mississippi River Commission ca. 1895. Scale 1:10,000. Covers the City of New Orleans and adjacent portions of Jefferson and St. Bernard Parishes. This layer is image 2 of 4 total images of the four sheet source map, representing the southeast portion of the map. The image inside the map neatline is georeferenced to the surface of the earth and fit to the Louisiana State Plane Coordinate System, South NAD83 (in Feet) (Fipszone 1702). All map collar and inset information is also available as part of the raster image, including any inset maps, profiles, statistical tables, directories, text, illustrations, or other information associated with the principal map. This map shows features such as roads, railroads, canals, drainage, vegetation/ground cover, land ownership in outlying areas, selected public, private, and industrial buildings, parks, cemeteries, Parish boundaries, ferry routes and more. Relief shown by contours. Detailed depths of the Mississippi River shown with soundings and dates of survey, and survey control points. River banks and bottom soil types shown. Includes index chart, list of authorities, and notes. This layer is part of a selection of digitally scanned and georeferenced historic maps from The Harvard Map Collection as part of the Imaging the Urban Environment project. Maps selected for this project represent major urban areas and cities of the world, at various time periods. These maps typically portray both natural and manmade features at a large scale. The selection represents a range of regions, originators, ground condition dates, scales, and purposes.

Mississippi River survey, New Orleans, Louisiana, 1895 (Image 3 of 4) (Raster Image)

This layer is a georeferenced raster image of the historic paper map entitled: Survey of the Mississippi River : made under the direction of the Mississippi River Commission : chart no. 76, projected from a trigonometrical survey made by the U.S. Coast survey in 1874. It was published by the Mississippi River Commission ca. 1895. Scale 1:10,000. Covers the City of New Orleans and adjacent portions of Jefferson and St. Bernard Parishes. This layer is image 3 of 4 total images of the four sheet source map, representing the southwest portion of the map. The image inside the map neatline is georeferenced to the surface of the earth and fit to the Louisiana State Plane Coordinate System, South NAD83 (in Feet) (Fipszone 1702). All map collar and inset information is also available as part of the raster image, including any inset maps, profiles, statistical tables, directories, text, illustrations, or other information associated with the principal map. This map shows features such as roads, railroads, canals, drainage, vegetation/ground cover, land ownership in outlying areas, selected public, private, and industrial buildings, parks, cemeteries, Parish boundaries, ferry routes and more. Relief shown by contours. Detailed depths of the Mississippi River shown with soundings and dates of survey, and survey control points. River banks and bottom soil types shown. Includes index chart, list of authorities, and notes. This layer is part of a selection of digitally scanned and georeferenced historic maps from The Harvard Map Collection as part of the Imaging the Urban Environment project. Maps selected for this project represent major urban areas and cities of the world, at various time periods. These maps typically portray both natural and manmade features at a large scale. The selection represents a range of regions, originators, ground condition dates, scales, and purposes.

Mississippi River survey, New Orleans, Louisiana, 1895 (Image 4 of 4) (Raster Image)

This layer is a georeferenced raster image of the historic paper map entitled: Survey of the Mississippi River : made under the direction of the Mississippi River Commission : chart no. 76, projected from a trigonometrical survey made by the U.S. Coast survey in 1874. It was published by the Mississippi River Commission ca. 1895. Scale 1:10,000. Covers the City of New Orleans and adjacent portions of Jefferson and St. Bernard Parishes. This layer is image 4 of 4 total images of the four sheet source map, representing the northwest portion of the map. The image inside the map neatline is georeferenced to the surface of the earth and fit to the Louisiana State Plane Coordinate System, South NAD83 (in Feet) (Fipszone 1702). All map collar and inset information is also available as part of the raster image, including any inset maps, profiles, statistical tables, directories, text, illustrations, or other information associated with the principal map. This map shows features such as roads, railroads, canals, drainage, vegetation/ground cover, land ownership in outlying areas, selected public, private, and industrial buildings, parks, cemeteries, Parish boundaries, ferry routes and more. Relief shown by contours. Detailed depths of the Mississippi River shown with soundings and dates of survey, and survey control points. River banks and bottom soil types shown. Includes index chart, list of authorities, and notes. This layer is part of a selection of digitally scanned and georeferenced historic maps from The Harvard Map Collection as part of the Imaging the Urban Environment project. Maps selected for this project represent major urban areas and cities of the world, at various time periods. These maps typically portray both natural and manmade features at a large scale. The selection represents a range of regions, originators, ground condition dates, scales, and purposes.

A Viable Alternative to Basel III Prudential Capital Rules. CEPS Policy Brief No. 291, May 2013

Stefano Micossi argues in this paper that the Basel framework for bank prudential requirements is deeply flawed and that the Basel III revision has failed to correct these flaws, making the system even more complicated, opaque and open to manipulation. In practice, he finds that the present system does not offer regulators and financial markets a reliable capital standard for banks and its divergent implementation in the main jurisdictions of the European Union and the United States has broken the market into special fiefdoms governed by national regulators in response to untoward special interests. The time is ripe to stop tinkering with minor adjustment and revisions in order to rescue the system, because the system cannot be rescued. In response to the current situation, Micossi calls for abandoning reference to risk-weighted assets calculated by banks with their internal risk management models for the determination of banks’ prudential capital, together with the preoccupation with the asset side of banks in correcting for risk exposure. He suggests that the alternative may be provided by a combination of a straight capital ratio and a properly designed deposit insurance system. It is a logical, complete and much less distortive alternative; it would serve better the cause of financial stability as well as the interest of the banks in clear, transparent and level playing field.

The new European framework for managing bank crises. CEPS Policy Brief No. 304, 21 November 2013

This Policy Brief describes and discusses the proposals for a European Single Resolution Mechanism (SRM) for banks and for a Directive on Bank Recovery and Resolution (BRR). The authors find that the proposals are generally well designed and present a consistent approach, yet there is room for improvement, including the streamlining of procedures for the start of resolution, which now entail much overlap in the powers attributed to the various institutions involved (the Commission, the Single Resolution Board and the European Central Bank). The paper makes a number of key recommendations to facilitate discussions for stakeholders and regulators.

Asset-backed securities: The key to unlocking Europe's credit markets? Bruegel Policy Contribution 2014/07, 24 July 2014

The European market for asset-backed securities (ABS) has all but closed for business since the start of the economic and financial crisis. ABS (see Box 1) were in fact the first financial assets hit at the onset of the crisis in 2008. The subprime mortgage meltdown caused a deterioration in the quality of collateral in the ABS market in the United States, which in turn dried up overall liquidity because ABS AAA notes were popular collateral for inter-bank lending. The lack of demand for these products, together with the Great Recession in 2009, had a considerable negative impact on the European ABS market. The post-crisis regulatory environment has further undermined the market. The practice of slicing and dicing of loans into ABS packages was blamed for starting and spreading the crisis through the global financial system. Regulation in the post-crisis context has thus been relatively unfavourable to these types of instruments, with heightened capital requirements now necessary for the issuance of new ABS products. And yet policymakers have recently underlined the need to revitalise the ABS market as a tool to improve credit market conditions in the euro area and to enhance transmission of monetary policy. In particular, the European Central Bank and the Bank of England have jointly emphasised that: “a market for prudently designed ABS has the potential to improve the efficiency of resource allocation in the economy and to allow for better risk sharing... by transforming relatively illiquid assets into more liquid securities. These can then be sold to investors thereby allowing originators to obtain funding and, potentially, transfer part of the underlying risk, while investors in such securities can diversify their portfolios... . This can lead to lower costs of capital, higher economic growth and a broader distribution of risk” (ECB and Bank of England, 2014a). In addition, consideration has started to be given to the extent to which ABS products could become the target of explicit monetary policy operations, a line of action proposed by Claeys et al (2014). The ECB has officially announced the start of preparatory work related to possible outright purchases of selected ABS1. In this paper we discuss how a revamped market for corporate loans securitised via ABS products, and how use of ABS as a monetary policy instrument, can indeed play a role in revitalising Europe’s credit market. However, before using this instrument a number of issues should be addressed: First, the European ABS market has significantly contracted since the crisis. Hence it needs to be revamped through appropriate regulation if securitisation is to play a role in improving the efficiency of resource allocation in the economy. Second, even assuming that this market can expand again, the European ABS market is heterogeneous: lending criteria are different in different countries and banking institutions and the rating methodologies to assess the quality of the borrowers have to take these differences into account. One further element of differentiation is default law, which is specific to national jurisdictions in the euro area. Therefore, the pool of loans will not only be different in terms of the macro risks related to each country of origination (which is a ‘positive’ idiosyncratic risk, because it enables a portfolio manager to differentiate), but also in terms of the normative side, in case of default. The latter introduces uncertainties and inefficiencies in the ABS market that could create arbitrage opportunities. It is also unclear to what extent a direct purchase of these securities by the ECB might have an impact on the credit market. This will depend on, for example, the type of securities targeted in terms of the underlying assets that would be considered as eligible for inclusion (such as loans to small and medium-sized companies, car loans, leases, residential and commercial mortgages). The timing of a possible move by the ECB is also an issue; immediate action would take place in the context of relatively limited market volumes, while if the ECB waits, it might have access to a larger market, provided steps are taken in the next few months to revamp the market. We start by discussing the first of these issues – the size of the EU ABS market. We estimate how much this market could be worth if some specific measures are implemented. We then discuss the different options available to the ECB should they decide to intervene in the EU ABS market. We include a preliminary list of regulatory steps that could be taken to homogenise asset-backed securities in the euro area. We conclude with our recommended course of action.

The financial stability risks of ultra-loose monetary policy. Bruegel Policy Contribution Issue 2015/03

Ultra-loose monetary policies, such as very low or even negative interest rates, large-scale asset purchases, long-maturity lending to banks and forward guidance in central bank communication, aim to increase inflation and output, to the benefit of financial stability. But at the same time, these measures pose various risks and might create challenges for financial institutions. • By assessing the theoretical literature and developments in the United States, United Kingdom and Japan, where very expansionary monetary policies were adopted during the past six years, and by examining the euro-area situation, we conclude that the risks to financial stability of ultra-loose monetary policy in the euro area could be low. However, vigilance is needed. • While monetary policy should focus on its primary mandate of area-wide price stability, other policies should be deployed whenever the financial cycle deviates from the economic cycle or when heterogeneous financial developments in the euro area require financial tightening in some but not all countries. These policies include micro-prudential supervision, macro-prudential oversight, fiscal policy and regulation of sectors that pose risks to financial stability, such as construction.

Countries under Adjustment Programmes: What role for the ECB? CEPS Special Report No. 124, December 2015

Providing ‘technical assistance/advice’ on programmes for countries under financial stress is well within the mandate of the European Central Bank (ECB). Being fully part of the Troika, however, is a different role. Formally the ECB does not participate in the ‘decision-making’ on programmes (decisions are taken by the Finance Ministers – and the IMF). However, the ECB is part of the ‘decision-shaping’ process. These two roles have often been confused. The ECB should interpret its formal role in future ESM (European Stability Mechanism) programmes as narrowly as possible. Providing advice but avoid taking part in the operational work of programme surveillance. The ECB should de facto leave the Troika. At any rate, future incidents like the Italian or Spanish letters will be superseded by the OMTs (outright monetary transactions) and an Irish-type situation would be shaped by the legal framework of the Bank Recovery and Resolution Directive (BRRD) and the potential funding from the Single Resolution Fund (SRF). An additional issue for the ECB is internal coherence: Its six-member Executive Board manages the participation in the Troika, monetary policy is decided by the Governing Council and banking supervision is under the Supervisory Board, separated in principle by Chinese walls from the (rest of the) ECB.

(Table T1) Ages of white mica clasts in core samples of ODP Hole 210-1276A

Fifty-seven white mica clasts were separated from five samples taken from near the bases of turbidites ranging in age from early Albian to middle Eocene. Twenty two (39%) of the micas have ages between 260 and 340 Ma and five (9%) have older ages (~400-600 Ma). The former age range is characteristic of the North American Alleghenian orogeny and the Iberian Variscan orogeny. The latter range is characteristic of the North American Acadian orogeny and older basement rocks in the Grand Banks and Newfoundland areas. Both age ranges are present in the middle Eocene sample, but only the younger range occurs in the middle Albian sample. This difference could be a sampling artifact. If this is not the case, then the most likely explanation is that the Acadian-aged micas within the Meguma Zone underlying the Grand Banks were totally reset by Alleghenian reactivation of the zone, a feature which occurs extensively in Nova Scotia. The addition of Acadian-aged micas in the middle Eocene sample may reflect a change in sediment provenance as drainage systems unrelated to rift topography developed. With the exception of one clast dated at 186 Ma, the 12 other micas obtained from the upper Paleocene sample yielded ages between 55 and 74 Ma, with 7 falling within ±2 m.y. of the 57-Ma age of the sample indicated by the biostratigraphic age-depth plot for Site 1276. This, together with the volcaniclastic content of the sample, indicates an input from near-contemporaneous volcanism. The nearest known occurrences of near-contemporaneous late Paleocene volcanism that could have produced white micas are in Greenland and Portugal, some 2000 and 1500 km distant, respectively, from Site 1276 during the Paleocene. However, ages of volcanism in these areas indicate that they could probably not be sources of micas younger than 60 m.y., which suggests some as-yet unknown volcanic source in the North Atlantic area. Accumulation in the Grand Banks area of airborne-transported volcaniclastic material from eruptions of slightly different ages, followed by a single resedimentation event, could account for the spread of dates obtained from the sample. White micas from the lowermost Albian sample show a spread of ages between 37 and 284 Ma that is completely different from the age distribution pattern of the middle Albian and middle Eocene samples. The sample location is between, and at least 25 m above and below, two igneous sills dated at 98 and 105 Ma. The sills have narrow thermal aureoles and ages older than the youngest detrital micas in the sample. It is unlikely, therefore, that the spread of mica ages in the sample is due to partial resetting of ages caused by thermal effects associated with the intrusion of the sills. The resetting may have been associated with a longer lived thermal event.

Bellingshausen Sea bathymetric compilation

The southern Bellingshausen Sea (SBS) is a rapidly-changing part of West Antarctica, where oceanic and atmospheric warming has led to the recent basal melting and break-up of the Wilkins ice shelf, the dynamic thinning of fringing glaciers, and sea-ice reduction. Accurate sea-floor morphology is vital for understanding the continued effects of each process upon changes within Antarctica's ice sheets. Here we present a new bathymetric grid for the SBS compiled from shipborne echo-sounder, spot-sounding and sub-ice measurements. The 1-km grid is the most detailed compilation for the SBS to-date, revealing large cross-shelf troughs, shallow banks, and deep inner-shelf basins that continue inland of coastal ice shelves. The troughs now serve as pathways which allow warm deep water to access the ice fronts in the SBS. Our dataset highlights areas still lacking bathymetric constraint, as well as regions for further investigation, including the likely routes of palaeo-ice streams. The new compilation is a major improvement upon previous grids and will be a key dataset for incorporating into simulations of ocean circulation, ice-sheet change and history. It will also serve forecasts of ice stability and future sea-level contributions from ice loss in West Antarctica, required for the next IPCC assessment report in 2013.

Observation of manganese deposits made during the 1936 transect of C/S Lord Kelvin through the Northern Atlantic Ocean

In May and June 1936 Dr. C. S. Piggot of the Geophysical Laboratory, Carnegie Institution of Washington, took a series of 11 deep-sea cores in the North Atlantic Ocean between the Newfoundland banks and the banks off the Irish coast. These cores were taken from the Western Union Telegraph Co.'s cable ship Lord Kelvin with the explosive type of sounding device which Dr. Piggot designed. All but two of these cores (Nos. 8 and 11) are more than 2.43 meters (8 feet) long, and all contain ample material for study. Of the two short cores, No. 8 was taken from the top of the Faraday Hills, as that part of the mid-Atlantic ridge is known, where the material is closely packed and more sandy and consequently more resistant; No. 11 came from a locality where the apparatus apparently landed on volcanic rock that may be part of a submarine lava flow.

Chicago securities.

Description based on: 5th (1895).

Pamphlets on currency.

Binder's title.

The Elector's guide. Addressed to the freeholders of the county of York.

No. I. The "Catholic question".--No. II. The general state of the country banks and paper money; Death of Alexander, emperor of Russia; State of parties in the kingdom; A letter to Fountayne Wilson, esq.; Duncombe and the treadmill; Poetry and miscellanies.--No. III. A letter to the Duke of York; Auri sacra fames; or, Sturdy beggars: a county job; Church Methodism; A Protestant confessor; His Majesty's speech to Parliament; Miscellanies, and poetry.--No. IV. A letter to Daniel Sykes, esq. on West Indian slavery; Catholic and Protestant; The last man; Confidence in banks; Hints to electors; The proceedings in Parliament, &c., &c., &c.--No. V. An address to the suffering people of England; Slavery; A letter to Sir John Bayley, knt,; Banks; The Protestant champion; Poetry, &c., &c.--No. VI. A charge of His Grace the Archbishop of York to the clergy of the diocese; A secret; A good action.--No. VII. Observations upon county representation; A full account of the county meeting, &c., &c.

The New York judicial repository,

[New York, Baker, Voorhis & co., 1935]