Can partial coherence interferometry be used to determine retinal shape?

Purpose: To determine likely errors in estimating retinal shape using partial coherence interferometric instruments when no allowance is made for optical distortion. Method: Errors were estimated using Gullstrand’s No. 1 schematic eye and variants which included a 10 D axial myopic eye, an emmetropic eye with a gradient-index lens, and a 10.9 D accommodating eye with a gradient-index lens. Performance was simulated for two commercial instruments, the IOLMaster (Carl Zeiss Meditec) and the Lenstar LS 900 (Haag-Streit AG). The incident beam was directed towards either the centre of curvature of the anterior cornea (corneal-direction method) or the centre of the entrance pupil (pupil-direction method). Simple trigonometry was used with the corneal intercept and the incident beam angle to estimate retinal contour. Conics were fitted to the estimated contours. Results: The pupil-direction method gave estimates of retinal contour that were much too flat. The cornea-direction method gave similar results for IOLMaster and Lenstar approaches. The steepness of the retinal contour was slightly overestimated, the exact effects varying with the refractive error, gradient index and accommodation. Conclusion: These theoretical results suggest that, for field angles ≤30º, partial coherence interferometric instruments are of use in estimating retinal shape by the corneal-direction method with the assumptions of a regular retinal shape and no optical distortion. It may be possible to improve on these estimates out to larger field angles by using optical modeling to correct for distortion.

Monocouches peptidiques auto-assemblées et applications dans le domaine des biocapteurs de résonance de plasmon de surfaces

Ces travaux visent à étendre les applications de la résonance de plasmons de surface (SPR) L’objectif est d’offrir des outils diagnostics plus rapides, efficaces et simple d’utilisation pour diagnostiquer ou effectuer le suivi de conditions cliniques. Pour se faire, un nouveau type d’instrumentation SPR basé sur l’utilisation d’un prisme d’inversion (dove) a permis d’atteindre une limite de détection (LOD) de 10-6 unité d’indice de réfraction (RIU), une valeur comparable aux instruments commerciaux complexes tout en demeurant peu dispendieux, robuste et simple d’utilisation. Les travaux présentés dans cet ouvrage visent, dans un second temps, à réduire les interactions nonspécifiques (NSB) entre la surface des biocapteurs SPR et les composants de la matrice biologique complexe telles que: l’urine, le lysat cellulaire, le sérum et le sang. Ces dernières induisent des réponses empêchant l’utilisation de biocapteurs SPR en milieux complexes. Les acides aminés (AA) offrent une grande variété de propriétés physico-chimiques permettant la mise au point de monocouches auto-assemblées (SAM) aux propriétés diverses. Initialement, 19 des 20 acides aminés naturels ont été attachés à l’acide 3-mercaptopropionique (3-MPA) formant des SAMs peptidomimétiques. La quantité d’interactions nonspécifiques engendrées par ces différentes surfaces a été mesurée en exposant ces surfaces au sérum sanguin bovin complet variant de 400 ng/cm² jusqu’à 800 ng/cm². La détection à l’aide de ces surfaces de la β-lactamase (une enzyme responsable de la résistance aux antibiotiques au niveau μM) a démontré la possibilité d’employer ces surfaces pour bâtir des biocapteurs SPR. Des peptides de longueur allant de 2 à 5 résidus attachés à 3-MPA ont été synthétisés sur support solide. Cette étude a démontré que l’augmentation de la longueur des peptides formés d’AA résistants aux NBS accroit leur résistance jusqu’à 5 résidus. Le composé le plus performant de ce type (3-MPA-(Ser)5-OH) a permis d’atteindre 180 ng/cm². Cette valeur est similaire à celle des meilleures surfaces disponibles commercialement, notamment les surfaces de polyethylène glycol (PEG) à 100 ng/cm². Des surfaces de 3-MPA-(Ser)5-OH ont permis l’étalonnage de la β-lactamase et sa quantification directe dans un lysat cellulaire. La LOD pour ces biocapteurs est de 10 nM. Une troisième génération de surfaces peptidiques binaires a permis la réduction de la NSB jusqu’à un niveau de 23±10 ng/cm² une valeur comparable aux meilleures surfaces disponibles. Ces surfaces ont permis l’étalonnage d’un indicateur potentiel du cancer la metalloprotéinase-3 de matrice (MMP-3). Les surfaces formées de peptides binaires (3-MPA-H3D2-OH) ont permis la quantification directe de la MMP-3 dans le sérum sanguin complet. Une quatrième génération de surfaces peptidiques a permis de réduire davantage le niveau de NSB jusqu’à une valeur de 12 ± 11 ng/cm². Ces surfaces ont été modifiées en y attachant une terminaison de type acide nitriloacétique (NTA) afin d’y attacher des biomolécules marquées par six résidus histidines terminaux. Ces surfaces ont permis le développement d’une méthode rapide de balayage des ligands ciblant le « cluster of differenciation-36 » (CD36). L’étude d’électroformation des monocouches de peptide a permis de déterminer les conditions de formation optimales d’une couche de 3-MPA-HHHDD-OH permettant ainsi la formation de monocouches résistantes au NSB en moins de 6 minutes en appliquant un potentiel de formation de 200mV vs Ag/AgCl.

A new microcontrolled structural health monitoring system based on the electromechanical impedance principle

This article presents a new method to detect damage in structures based on the electromechanical impedance principle. The system follows the variations in the output voltage of piezoelectric transducers and does not compute the impedance itself. The proposed system is portable, autonomous, versatile, and could efficiently replace commercial instruments in different structural health monitoring applications. The identification of damage is performed by simply comparing the variations of root mean square voltage from response signals of piezoelectric transducers, such as lead zirconate titanate patches bonded to the structure, obtained for different frequencies of the excitation signal. The proposed system is not limited by the sampling rate of analog-to-digital converters, dispenses Fourier transform algorithms, and does not require a computer for processing, operating autonomously. A low-cost prototype based on microcontroller and digital synthesizer was built, and experiments were carried out on an aluminum structure and excellent results have been obtained. © The Author(s) 2012.

Desenvolvimento e implementação de um sistema para detecção de falhas em estruturas usando microcontrolador

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

A review on continuous wave functional near-infrared spectroscopy and imaging instrumentation and methodology

This year marks the 20th anniversary of functional near-infrared spectroscopy and imaging (fNIRS/fNIRI). As the vast majority of commercial instruments developed until now are based on continuous wave technology, the aim of this publication is to review the current state of instrumentation and methodology of continuous wave fNIRI. For this purpose we provide an overview of the commercially available instruments and address instrumental aspects such as light sources, detectors and sensor arrangements. Methodological aspects, algorithms to calculate the concentrations of oxy- and deoxyhemoglobin and approaches for data analysis are also reviewed. From the single-location measurements of the early years, instrumentation has progressed to imaging initially in two dimensions (topography) and then three (tomography). The methods of analysis have also changed tremendously, from the simple modified Beer-Lambert law to sophisticated image reconstruction and data analysis methods used today. Due to these advances, fNIRI has become a modality that is widely used in neuroscience research and several manufacturers provide commercial instrumentation. It seems likely that fNIRI will become a clinical tool in the foreseeable future, which will enable diagnosis in single subjects.

Desenvolvimento e caracterização do filtro óptico de interferência variável para detectores de alta resolução espectral e biossensores.

O presente trabalho está fundamentado no desenvolvimento de uma metodologia e/ou uma tecnologia de obtenção e caracterização de filtros ópticos de interferência de banda passante variável [C.M. da Silva, 2010] e de banda de corte variáveis, constituídos por refletores dielétricos multicamadas de filmes finos intercalados por cavidades de Fabry-Perot não planares com espessuras linearmente variáveis, que apresentam a propriedade do deslocamento linear da transmitância máxima espectral em função da posição, isto é, um Filtro de Interferência Variável (FIV). Este método apresenta novas e abrangentes possibilidades de confecção de filtros ópticos de interferência variável: lineares ou em outras formas desejadas, de comprimento de onda de corte variável (passa baixa ou alta) e filtros de densidade neutra variável, através da deposição de metais, além de aplicações em uma promissora e nova área de pesquisa na deposição de filmes finos não uniformes. A etapa inicial deste desenvolvimento foi o estudo da teoria dos filtros ópticos dielétricos de interferência para projetar e construir um filtro óptico banda passante convencional de um comprimento de onda central com camadas homogêneas. A etapa seguinte, com base na teoria óptica dos filmes finos já estabelecida, foi desenvolver a extensão destes conhecimentos para determinar que a variação da espessura em um perfil inclinado e linear da cavidade entre os refletores de Bragg é o principal parâmetro para produzir o deslocamento espacial da transmitância espectral, possibilitando o uso de técnicas especiais para se obter uma variação em faixas de bandas de grande amplitude, em um único filtro. Um trabalho de modelagem analítica e análise de tolerância de espessuras dos filmes depositados foram necessários para a seleção da estratégia do \"mascaramento\" seletivo do material evaporado formado na câmara e-Beam (elétron-Beam) com o objetivo da obtenção do filtro espectral linear variável de características desejadas. Para tanto, de acordo com os requisitos de projeto, foram necessárias adaptações em uma evaporadora por e-Beam para receber um obliterador mecânico especialmente projetado para compatibilizar os parâmetros das técnicas convencionais de deposição com o objetivo de se obter um perfil inclinado, perfil este previsto em processos de simulação para ajustar e calibrar a geometria do obliterador e se obter um filme depositado na espessura, conformação e disposição pretendidos. Ao final destas etapas de modelagem analítica, simulação e refinamento recorrente, foram determinados os parâmetros de projeto para obtenção de um determinado FIV (Filtro de Interferência Variável) especificado. Baseadas nos FIVs muitas aplicações são emergentes: dispositivos multi, hiper e ultra espectral para sensoriamento remoto e análise ambiental, sistemas Lab-on-Chip, biossensores, detectores chip-sized, espectrofotometria de fluorescência on-chip, detectores de deslocamento de comprimento de onda, sistemas de interrogação, sistemas de imageamento espectral, microespectrofotômetros e etc. No escopo deste trabalho se pretende abranger um estudo de uma referência básica do emprego do (FIV) filtro de interferência variável como detector de varredura de comprimento de ondas em sensores biológicos e químicos compatível com pós processamento CMOS. Um sistema básico que é constituído por um FIV montado sobre uma matriz de sensores ópticos conectada a um módulo eletrônico dedicado a medir a intensidade da radiação incidente e as bandas de absorção das moléculas presentes em uma câmara de detecção de um sistema próprio de canais de microfluidos, configurando-se em um sistema de aquisição e armazenamento de dados (DAS), é proposto para demonstrar as possibilidades do FIV e para servir de base para estudos exploratórios das suas diversas potencialidades que, entre tantas, algumas são mencionadas ao longo deste trabalho. O protótipo obtido é capaz de analisar fluidos químicos ou biológicos e pode ser confrontado com os resultados obtidos por equipamentos homologados de uso corrente.

Dislodgement of commercial property public debt markets : the case of U.S. and Australia

The paper investigates if there are any discernible trends in the U.S. and Australian commercial property public debt markets with the onset of the global financial crisis (GFC). Commercial mortgage-backed securities and unsecured bonds issued by real estate investment trusts for the period 2000 to Q3:2009 are reviewed. It is shown that events in the equity markets have an impact on the pricing of these two instruments. Furthermore, the impact of subdued activity in these financing instruments on the commercial property market is discussed.

The need for legislative reform of the privity doctrine in commercial contracts in Malaysia : a comparative analysis

This thesis commences with the proposition that the first limb of the doctrine of privity causes injustice to third party beneficiaries in Malaysia, particularly in commercial contracts. The doctrine of privity has been the subject of criticism by the judiciary and academic commentators in common law jurisdictions, mainly directed at the first limb of the doctrine, whereby only parties to a contract can sue and be sued. The first limb prevents a third party from enforcing benefits conferred on them by those contracts thereby resulting in third parties suffering loss and injustice to those parties. In several common law countries, such as England, Australia, New Zealand and Singapore, legislative reform of the doctrine has occurred. The legislative reform has abrogated to a significant extent the doctrine of privity in commercial contracts. Malaysia is a common law country, where the doctrine of privity is still applied to contracts. An analysis of Malaysian case law demonstrates that the most affected third party beneficiaries are those seeking to enforce insurance and construction contracts. While a small number of other third parties to commercial contracts, such as agreements to pay for work done, sale and purchase agreements and tenancy agreements are also affected, the detriment is not as significant. As a consequence, this thesis focuses primarily on the impact of the doctrine of privity on commercial contracts in the areas of insurance and construction in Malaysia The thesis aims to recommend appropriate reforms to address the injustices arising from the privity doctrine for third parties seeking to obtain the benefit of insurance and construction contracts, which may also benefit third parties to other types of commercial contracts. While the Malaysian insurance, consumer protection, negotiable instruments and agency laws allow third party beneficiaries to enforce benefits in contracts, the rights are found to be inadequate. As not all third parties seeking to enforce an insurance or construction contract can rely upon the legislation, the injustice arising from the doctrine of privity remains and needs to be addressed. To achieve this aim, a comparative analysis of the rights of third party beneficiaries under insurance and construction contracts in Malaysia, Australia and England is undertaken. The results of the analysis are used to identify appropriate elements for a legislative framework guided by the three essential criteria for effective law reform developed in the thesis. The three criteria are certainty, public interest and justice. The thesis recommends first the enactment of general legislation applicable to all commercial contracts including insurance contracts. Secondly, the thesis recommends specific targeted legislation to address the injustice faced by third party beneficiaries in construction contracts.

Repeatability and comparison of peripheral eye lengths with two instruments

Purpose: To assess intrasessional and intersessional repeatability of two commercial partial coherence interferometry instruments for measuring peripheral eye lengths and to investigate the agreement between the two instruments. Methods: Central and peripheral eye lengths were determined with the IOLMaster (Carl-Zeiss Meditec AG, Jena, Germany) and the Lenstar (Haag Streit, Bern, Switzerland) in seven adults. Measurements were performed out to 35° and 30° from fixation for horizontal and vertical visual fields, respectively, in 5° intervals. An external fixation target at optical infinity was used. At least four measurements were taken at each location for each instrument, and measurements were taken at two sessions. Results: The mean intrasessional SDs for the IOLMaster along both the horizontal and vertical visual fields were 0.04 ± 0.04 mm; corresponding results for the Lenstar were 0.02 ± 0.02 mm along both fields. The intersessional SDs for the IOLMaster for the horizontal and vertical visual fields were ±0.11 and ±0.08 mm, respectively; corresponding limits for the Lenstar were ±0.05 and ±0.04 mm. The intrasessional and intersessional variability increased away from fixation. The mean differences between the two instruments were 0.01 ± 0.07 mm and 0.02 ± 0.07 mm in the horizontal and vertical visual fields, but the lengths with the Lenstar became greater than those with the IOLMaster as axial length increased (rate of approximately 0.016 mm/mm). Conclusions: Both the IOLMaster and the Lenstar demonstrated good intrasessional and intersessional repeatability for peripheral eye length measurements, with the Lenstar showing better repeatability. The Lenstar would be expected to give a slightly greater range of eye lengths than the IOLMaster across the visual field.

Examining the role of goals and motives for physical activity and eating behaviour in commercial weight-loss program participants

Background: The purpose of this study was to examine the relationships between physical activity and healthy eating behaviour with the participant's motives and goals for each health behaviour. Methods: Participants (N 121; 93.2% female) enrolled in commercial weightloss programs at the time of data collection, completed self-reported instruments using a web-based interface that were in accordance with Deci and Ryan's (2002) Self-Determination Theory (SDT). Results: Multiple linear regression models revealed that motivation and goals collectively accounted for between 0.21 to 0.29 percent and 0.03 to 0.16 percent of the variance in physical and healthy eating behaviours in this sample. In general, goals regarding either behaviour did not appear to have strong predictive relationships with each health behaviour beyond the contributions of motives. Discussion: Overall, findings from this study suggest that motives seem to mattermore than goals for both physical activity and healthy eating behaviour in clientele of commercial weight-loss programs. Therefore commercial weight-loss program implementers may want to consider placing more attention on motives I than goals for their clientele when designing weight-loss and weight-maintenance initiatives.

Shari'a Commercial Law : "old wine in new bottles?"

Suite à la crise financière globale de 2008, ainsi qu’aux différents facteurs qui y ont mené, il est étonnant qu’une alternative éthique et juste pour une finance lucrative et stable n’existe toujours pas (ou du moins, demeure oubliée). Ayant décidé de contribuer au domaine pluri-centenaire du Droit Commercial de la Chari’a, nous avons été surpris par la découverte d’une problématique à l’origine de cette thèse. En France, nous avons suivi des débats doctrinaux intéressants dont les conclusions se rapprochent de la perception générale Occidentale quand à la nature de la finance Islamique, que ce soit au niveau de la finance basée sur le Droit de la Chari’a ou encore les exigences de sa pleine introduction dans le système juridique français de l’époque. Cet intérêt initial dans la finance islamique a ensuite mené à un intérêt dans la question des avantages d’éthique et de justice du Droit Commercial de la Chari’a dans son ensemble, qui est au coeur de cette thèse. Dans le monde moderne du commerce et de la finance d’aujourd’hui, les transactions sont marquées par une prise de risque excessive et un esprit de spéculation qui s’apparente aux jeux de hasard, et menant à des pertes colossales. Pire encore, ces pertes sont ensuite transférées à la collectivité. Par conséquent, y at-il des préceptes, des principes ou des règles éthiques et juridiques qui peuvent fournir une certaine forme de sécurité et de protection dans les marchés financiers d'aujourd'hui? Est-ce réalisable? Cette thèse soutient que la richesse de la jurisprudence islamique ainsi que ses règles dont les avantages n’ont pas encore été pleinement saisis et régénérés en réponse aux nouveaux défis d’aujourd'hui, peuvent encore fournir continuellement des solutions, et réformer des produits financiers de façon à refléter des principes de justice et d'équité. Dans ce processus, un éclairage nouveau sera apporté à certains sujets déjà connus dans le cadre de la contribution prévue de cette thèse, mais ne sera pas le principal objectif de la thèse.

Cary's Illustrated and Priced Catalogue: Surgical Instruments, Physicians, Hospital Supplies, and Furnishings, Druggist Sundries, Etc.

Second Edition. Pp.5-61 General Surgical Necessities, Gauze, Antiseptic Sundries, Surgical Sundries, Rubber Bandages, Catheters, Bougies, Splints, Tents, Emergency Bags, Surgeon's Needles, Operating Instruments, Amputating, Forceps, Aspiration, Cases, Catheters and Directors, Pocket Case Instruments, Dissecting and Post-Mortem Pp.62-118 General Operating - Osteotomy, Mastoid, Trephining, Eye Instruments, Aural, Nasal, Mouth and Throat, Tooth Forceps, Laryngoscopic Sets, Hydraulic Air Compressor, Variocele, Genito Urinary Pp. 119-167 Genito Urinary-Lithotrity, Alimentary, Anal and Rectal, Gynaecological, Pessaries, Microscopes, Syringes Pp.168-205 Chemical Apparatus and Glassware, Physician's Cabinets, Office Furniture, Operating Chairs and Tables, Hospital Beds, Cautery, Electrolytic, Batteries Pp.206-246 Cases, Varicose, Braces, Abdominal Supporters, Trusses, Invalid Chairs and Supplies, Sterilizers, Saddle-Bags, Deformity Apparatus Advertisements: Bandages, Abdominal Supporters, Rubber Supplies, Bags, Batteries, Cotton, Microscopes, Hypodermic Tablets, Atomizers, Furniture, Sterilizers, Syringes

Illustrated Catalogue of Standard Surgical Instruments and Allied Lines

Section "A": Dissecting and Post-Mortem Instruments Diagnostic Instruments and Apparatus Microscopes and Microscopic Accessories Laboratory Apparatus and Glass Ware Apparatus for Blood and Urine Analysis Apparatus for Phlebotomy, Cupping and Leeching Apparatus for Infusion and Transfusion Syringes for Aspiration and Injection Osteological Preparations Section "B": Anaesthetic, General Operating, Osteotomy, Trepanning, Bullet, Pocket Case, Cautery, Ligatures, Sutures, Dressings, Etc. Section "B" continued Section "C": Eye, Ear, Nasal, Dermal, Oral, Tonsil, Tracheal, Laryngeal,Esophageal, Stomach, Intestinal, Gall Bladder Section "C": continued Section "D": Rectal, Phimosis, Prostatic, Vesical, Urethral, Ureteral, Instruments Section "E": Gynecic, Hysterectomy, Obstetrical, Instrument Satchels, Medicine Cases Section "F": Electric Cautery Transformers, Electro-Cautery Burners and Accessories, Electric Current Controllers, Electro-Diagnostic Outfits, Electrolysis Instruments Electro-Therapeutic Lamps, Faradic Batteries, Galvanic Batteries Section "G": Office Furniture, Office Sterilizing Apparatus, Hospital Supplies, Surgical Rubber Goods, Sick Room Utensils, Invalid Rolling Chairs, Invalid Supplies Section "H": Artificial Limbs, Deformity Apparatus, Fracture Apparatus, Splints, Splint Material, Elastic Hosiery, Abdominal Supporters, Crutches, Trusses, Suspensories, Etc. Index

Risk sharing with Multilateral Financial Institutions in infrastructure and energy project financing : effect on capital relief for commercial banks

(Matsukawa and Habeck, 2007) analyse the main instruments for risk mitigation in infrastructure financing with Multilateral Financial Institutions (MFIs). Their review coincided with the global financial crisis of 2007-08, and is highly relevant in current times considering the sovereign debt crisis, the lack of available capital and the increases in bank regulation in Western economies. The current macroeconomic environment has seen a slowdown in the level of finance for infrastructure projects, as they pose a higher credit risk given their requirements for long term investments. The rationale for this work is to look for innovative solutions that are focused on the credit risk mitigation of infrastructure and energy projects whilst optimizing the economic capital allocation for commercial banks. This objective is achieved through risk-sharing with MFIs and looking for capital relief in project finance transactions. This research finds out the answer to the main question: "What is the impact of risk-sharing with MFIs on project finance transactions to increase their efficiency and viability?", and is developed from the perspective of a commercial bank assessing the economic capital used and analysing the relevant variables for it: Probability of Default, Loss Given Default and Recovery Rates, (Altman, 2010). An overview of project finance for the infrastructure and energy sectors in terms of the volume of transactions worldwide is outlined, along with a summary of risk-sharing financing with MFIs. A review of the current regulatory framework beneath risk-sharing in structured finance with MFIs is also analysed. From here, the impact of risk-sharing and the diversification effect in infrastructure and energy projects is assessed, from the perspective of economic capital allocation for a commercial bank. CreditMetrics (J. P. Morgan, 1997) is applied over an existing well diversified portfolio of project finance infrastructure and energy investments, working with the main risk capital measures: economic capital, RAROC, and EVA. The conclusions of this research show that economic capital allocation on a portfolio of project finance along with risk-sharing with MFIs have a huge impact on capital relief whilst increasing performance profitability for commercial banks. There is an outstanding diversification effect due to the portfolio, which is combined with risk mitigation and an improvement in recovery rates through Partial Credit Guarantees issued by MFIs. A stress test scenario analysis is applied to the current assumptions and credit risk model, considering a downgrade in the rating for the commercial bank (lender) and an increase of default in emerging countries, presenting a direct impact on economic capital, through an increase in expected loss and a decrease in performance profitability. Getting capital relief through risk-sharing makes it more viable for commercial banks to finance infrastructure and energy projects, with the beneficial effect of a direct impact of these investments on GDP growth and employment. The main contribution of this work is to promote a strategic economic capital allocation in infrastructure and energy financing through innovative risk-sharing with MFIs and economic pricing to create economic value added for banks, and to allow the financing of more infrastructure and energy projects. This work suggests several topics for further research in relation to issues analysed. (Matsukawa and Habeck, 2007) analizan los principales instrumentos de mitigación de riesgos en las Instituciones Financieras Multilaterales (IFMs) para la financiación de infraestructuras. Su presentación coincidió con el inicio de la crisis financiera en Agosto de 2007, y sus consecuencias persisten en la actualidad, destacando la deuda soberana en economías desarrolladas y los problemas capitalización de los bancos. Este entorno macroeconómico ha ralentizado la financiación de proyectos de infraestructuras. El actual trabajo de investigación tiene su motivación en la búsqueda de soluciones para la financiación de proyectos de infraestructuras y de energía, mitigando los riesgos inherentes, con el objeto de reducir el consumo de capital económico en los bancos financiadores. Este objetivo se alcanza compartiendo el riesgo de la financiación con IFMs, a través de estructuras de risk-sharing. La investigación responde la pregunta: "Cuál es el impacto de risk-sharing con IFMs, en la financiación de proyectos para aumentar su eficiencia y viabilidad?". El trabajo se desarrolla desde el enfoque de un banco comercial, estimando el consumo de capital económico en la financiación de proyectos y analizando las principales variables del riesgo de crédito, Probability of Default, Loss Given Default and Recovery Rates, (Altman, 2010). La investigación presenta las cifras globales de Project Finance en los sectores de infraestructuras y de energía, y analiza el marco regulatorio internacional en relación al consumo de capital económico en la financiación de proyectos en los que participan IFMs. A continuación, el trabajo modeliza una cartera real, bien diversificada, de Project Finance de infraestructuras y de energía, aplicando la metodología CreditMet- rics (J. P. Morgan, 1997). Su objeto es estimar el consumo de capital económico y la rentabilidad de la cartera de proyectos a través del RAROC y EVA. La modelización permite estimar el efecto diversificación y la liberación de capital económico consecuencia del risk-sharing. Los resultados muestran el enorme impacto del efecto diversificación de la cartera, así como de las garantías parciales de las IFMs que mitigan riesgos, mejoran el recovery rate de los proyectos y reducen el consumo de capital económico para el banco comercial, mientras aumentan la rentabilidad, RAROC, y crean valor económico, EVA. En escenarios económicos de inestabilidad, empeoramiento del rating de los bancos, aumentos de default en los proyectos y de correlación en las carteras, hay un impacto directo en el capital económico y en la pérdida de rentabilidad. La liberación de capital económico, como se plantea en la presente investigación, permitirá financiar más proyectos de infraestructuras y de energía, lo que repercutirá en un mayor crecimiento económico y creación de empleo. La principal contribución de este trabajo es promover la gestión activa del capital económico en la financiación de infraestructuras y de proyectos energéticos, a través de estructuras innovadoras de risk-sharing con IFMs y de creación de valor económico en los bancos comerciales, lo que mejoraría su eficiencia y capitalización. La aportación metodológica del trabajo se convierte por su originalidad en una contribución, que sugiere y facilita nuevas líneas de investigación académica en las principales variables del riesgo de crédito que afectan al capital económico en la financiación de proyectos.