Influence of temperate grass seed rotation systems on weed seed soil bank composition

Due to changing cropping practices in perennial grass seed crops in western Oregon, USA, alternative rotation systems are being considered to reduce weed infestations. Information is generally lacking regarding the effects of alternative agronomic operations and herbicide inputs on soil weed seed bank composition during this transition. Six crop rotation systems were imposed in 1992 on a field that had historically produced monoculture perennial ryegrass (Lolium perenne L.) seeds. Each system plot was 20 x 30 m, arranged in a randomized complete block design, replicated four times. Twenty to thirty soil cores were sampled in June 1997 from each plot. The weed species composition of the cores was determined by successive greenhouse grow-out assays. In addition to seed density, heterogeneity indices for species evenness, richness, and diversity were determined. The most abundant species were Juncus bufonius L. and Poa annua L. Changes in seed bank composition were due to the different herbicides used for the rotation crop components. Compared to the other rotation systems, no-tillage, spring-planted wheat (Triticum aestivum L.) and oat (Avena sativa L.) reduced overall weed seed density and richness, but did not affect weed species evenness or diversity. When meadowfoam (Limnanthes alba Hartweg ex Benth.) succeeded wheat in rotation, weed species richness was unaffected, but evenness and diversity were reduced, compared to the other rotation systems. For meadowfoam in sequence after white clover (Trifolium repens L.), crop establishment method (no-tillage and conventional tillage) had no effect on weed seed species density, evenness, or diversity.

Soil seed bank variation patterns according to environmental factors in a natural grassland

This research aimed to determine the soil seed bank and its relationship with environmental factors that have an influence in the distribution of the vegetation above the ground in an excluded area of natural grassland in the South of Brazil. Most of the 122 identified species in the seed bank were perennials. Data analysis indicated three distinct community groups, according to the size and composition of the soil seed bank in lowlands with permanent wet soils, in lowlands and in other areas. In general, lowlands were characterized by low-fertility soils, high moisture and aluminum contents, being spatially homogeneous habitats and, therefore, more restricted to vegetation heterogeneity than other parts of the relief. Environmental factors most associated with soil seed bank size and composition were relief position and their co-related soil variables such as: soil moisture content, potassium content, organic matter, basic saturation of cation exchange soil capacity, exchangeable basics sum of the soil and clay soil content. According to that, relief position, associated with combined effects of soil chemical properties related to it, determines the observed variation pattern of the soil seed bank, as a reflection of the vegetation above the area.

“Who is steering the ship and which constellation guides the way? Exploring transparency in the European Central Bank during the time of crisis”

This paper explores transparency in the decision-making of the European Central Bank (ECB). According to ECB´s definition, transparency means that the central bank provides the general public with all relevant information on its strategy, assessments and policy decisions as well as its procedures in an open, clear and timely manner. In this paper, however, the interpretation of transparency is somewhat broader: Information is freely available and directly accessible to those who will be affected by the decisions. Moreover, the individuals shall be able to master this material. ECB´s negative attitude towards publication of documents has demonstrated central bank´s reluctance to strive towards more extensive transparency. By virtue of the definition adopted by the ECB the bank itself is responsible for determining what is considered as relevant information. On the grounds of EU treaties, this paper assesses ECB`s accountability concentrating especially on transparency by employing principal-agent theory and constitutional approach. Traditionally, the definite mandate and the tenet of central bank independence have been used to justify the limited accountability. The de facto competence of the ECB has, however, considerably expanded as the central bank has decisively resorted to non-standard measures in order to combat the economic turbulences facing Europe. It is alleged that non-standard monetary policy constitutes a grey zone occasionally resembling economic policy or fiscal policy. Notwithstanding, the European Court of Justice has repeatedly approved these measures. This dynamic interpretation of the treaties seems to allow temporarily exceptions from the central bank´s primary objective during extraordinary times. Regardless, the paper suggests that the accountability nexus defined in the treaties is not sufficient in order to guarantee the accountability of the ECB after the adoption of the new, more active role. Enhanced transparency would help the ECB to maintain its credibility. Investing in the quality of monetary dialogue between the Parliament and the ECB appears to constitute the most adequate and practicable method to accomplish this intention. As a result of upgraded transparency the legitimacy of the central bank would not solely rest on its policy outputs.

On site measurements of DC link electrolytic capacitor bank of frequency converter using constant DC magnetization of the motor

Preventive maintenance of frequency converters has been based on pre-planned replace-ment of wearing or ageing components. Exchange intervals follow component life-time expectations which are based on empirical knowledge or schedules defined by manufac-turer. However, the lifetime of a component can vary significantly, because drives are used in very different operating environments and applications. The main objective of the research was to provide information on methods, i.e. how in-verter's operating condition can be measured reliably under field conditions. At first, the research focused on critical components such as current transducers, IGBTs and DC link capacitor bank, because these aging have already been identified. Of these, the DC link capacitor measurement method was selected for closer examination. With this method, the total capacitance and its total series resistance can be measured. The suitability of the measuring procedure was estimated on the basis of practical measurements. The research was made by using so called triangulation method, including a literature review, simulations and practical measurements. Based on the results, the new measu-rement method seems suitable with some reservations to practical measurements. How-ever, the measuring method should be further developed in order to improve its reliability.

Bank Income Diversification and its Impact on Profitability and Risk: Evidence from Nordic Markets

Financial industry has recently encountered many changes in the business environment. Increased regulation together with growing competition is forcing commercial banks to rethink their business models. In order to maintain profitability in the new environment, banks are focusing more into activities that yield noninterest income. This is a shift away from the traditional intermediation function of banks. This study aims to answer the question if the shift from traditional income yielding activities to more innovative noninterest activities is logical in terms of profitability and risk in Nordics. This study also aims to answer the question if diversification within the noninterest income categories has impact on profitability and risk and if there are certain categories of noninterest income that are better than others in terms of profitability and risk in Nordics. Results show that diversification between interest and noninterest activities and increase in the share of noninterest income have a negative impact on the risk adjusted returns and risk profile. Results also show that further diversification within the noninterest income categories has negative impact on risk adjusted profitability and risk while an increase of the share of commission and fee income category of total noninterest income has a positive impact on risk adjusted profitability and risk. Results are logical and in line with previous research (De Young & Roland, 2001; Stiroh, 2004). Results provide useful information to banks and help them better evaluate outcomes of different income diversification strategies.

Lolium multiflorum seeds in the soil: I. Soil seed bank dynamics in a no til system

The objective of the study was to characterize annual ryegrass seed population dynamics, managed for natural re-sowing, in no til systems in rotation with soybean, in different chronosequences An area was cultivated for two years with soybean, left as fallow land for the next two years and then cultivated again with soybean for the next two years. The four chronosequences represented different management periods, two with soybean (6 and 8 years old) and the other two resting (3 and 9 years old). Soil samples were taken every month during one year and divided into two depths (0-5 and 5-10 cm). Vegetation dynamics were also evaluated (number of plants, inflorescences and seedlings). Soil seed bank (SSB) dynamics showed structural patterns in time, with a "storage period" in summer, an "exhausting period" during autumn and a "transition period" in winter and spring. Pasture establishment by natural re-sowing was totally dependent on the annual recruitment of seeds from the soil. The influence of the management practices on the SSB was more important than the number of years that these practices had been implemented. Places where soybean was sown showed the largest SSBs. Most of the seeds overcame dormancy and germinated at the end of the summer and beginning of the autumn, showing a typically transitory SSB, but with a small proportion of persistent seeds

Boulevard to broken dreams, Part 1: the Polonoroeste road project in the Brazilian Amazon, and the World Bank's environmental and indigenous peoples' norms

ABSTRACT Before the mid 1980s the World Bank conceived "nature" as something to be "conquered" and "environment" as a source of resources for "development". By the late 1980s the Bank incorporated norms of environmental sustainability and indigenous peoples' protection into its mandate, and other development-oriented IOs followed. This two-part paper describes how a fight over the Polonoroeste road project in the Brazilian Amazon - inside the Bank, between the Bank and NGOs supported by the US Congress, and between the Bank and the government of Brazil -helped to generate the far-reaching change of policy norms. The first part describes how the project was designed as an innovation in sustainable development in rainforests; and how it provoked a firestorm inside the Bank as it moved towards project approval.

Effects of bank supervision and regulation on bank risk

In the last few decades, banking has strongly internationalized and become more complex. Hence, bank supervision and regulation has taken global perspective, too. The most important international regulation are the Basel frameworks by the Basel committee on banking supervision. This study examines the effects of bank supervision and regulation, especially the Basel II, on bank risk and risk-taking. In order to separate and recognize the efficiency of these effects, the co-effects of many supervisory and regulatory tools together with other relevant factors must be taken into account. The focus of the study is on the effects of asymmetric information and banking procyclicality on the efficiency of the Basel II. This study tries to find an answer, if the Basel II, implemented in 2008, has decreased bank risk in banks of European Union member states. This study examines empirically, if the volatility on bank stock returns have changed after the implementation of the Basel II. Panel data consists of 62 bank stock returns, bank-specific variables, economic variables and variables concerning regulatory environment between 2003 and 2011. Fixed effects regression is used for panel data analysis. Results indicate that volatility on bank stock returns has increased after 2008 and the implementation of the Basel II. Result is statistically very significant and robustness has been verified in different model specifications. The result of this study contradicts with the goal of the Basel II about banking system stability. Banking procyclicality and wrong incentives for regulatory arbitrage under asymmetric information explained in theoretical part may explain this result. On the other hand, simultaneously with the implementation of the Basel II, the global financial crisis emerged and caused severe losses in banks and increased stock volatility. However, it is clear that supervision and regulation was unable to prevent the global financial crisis. After the financial crisis, supervision and regulation have been reformed globally. The main problems of the Basel II, examined in the theoretical part, have been recognized in order to prevent problems of procyclicality and wrong incentives in the future.

Niagara Suspension Bridge Bank note, 1841

The Niagara Suspension Bridge Bank operated in Queenston in 1840. The bank issued notes in denominations of ten dollars, five dollars and one dollar, and featured a drawing of the Queenston-Lewiston Bridge, ten years prior to its construction. The notes are signed by the bank’s Cashier, Gilbert McMicken, and President, Joseph Hamilton. The bank failed a year after its establishment.

Bank of Canada Records, 1958-1989

The Bank of Canada first introduced Canada Savings Bonds during the First and Second World Wars. At the time, they were known as War Savings Certificates and Victory Bonds and were used to fund the war effort. In 1946, Canada Savings Bonds were used as part of Canada’s Postwar Financing Program. At that time, the government also introduced the sale of bonds through payroll deduction. Canada Savings Bonds proved to be very popular, providing investors with a convenient, flexible and safe investment. Over time the bonds failed to remain competitive with other low-risk investment options, and the high cost of administering the program called into question its relevance. An independent report commissioned by the government in 2004 recommended that the bonds be phased out, however, the government decided to keep the program and make some revisions. As of 2012, Canada Savings Bonds are available exclusively through the payroll savings program, while Canada Premium Bonds (introduced in 1998) are available through financial institutions, dealers and by phone.

Royal Bank of Canada records, 1973-1977

In 1973, the Royal Bank of Canada began construction on a new office in downtown Toronto known as the Royal Bank Plaza. The $100 million construction project consisted of two triangular office towers linked by a glass-enclosed banking hall. In addition to housing the Royal Bank of Canada’s Ontario headquarters, the Plaza included a two-level shopping concourse with restaurants and boutiques, as well as office space available for lease. The Plaza officially opened on March 10, 1977.

Canadian Bank of Commerce (vinyl cover), St. Catharines bank book of Welland D. Woodruff Esq.

Canadian Bank of Commerce (vinyl cover), St. Catharines bank book of Welland D. Woodruff Esq., 1915-1917.