2. Basel III framework was basically the response of the global banking regulators to deal with the factors, more specifically those relating to the banking system that led to the global economic crisis or the great recession. In the advanced economies, there was a huge fiscal cost for protecting the financial system, which those governments did not want a repeat of. The framework therefore sou...

This is the third part of a three-part paper on secret-key agreement secure against active adversaries. Here, we consider the special case where the legitimate partners already share a mutual string which might, however, be partially known to the adversary. The problem of generating a secret key in this case has been well studied in the passive-adversary model—for instance in the context of qua...

Strengthening the capital that banks are required to hold to absorb losses from their trading and derivatives activities is a key component of the agenda for the reform of the global financial system. The global financial crisis revealed several shortcomings in the existing prudential framework for capitalizing banking activities, which is based on internationally agreed minimum standards (comm...

Concentrations Are Increased in Women with Preterm Delivery But Not in Those Who Respond to Tocolytic Treatment, Xiao Yan Zhong, Wolfgang Holzgreve, Irene Hoesli, and Sinuhe Hahn ( Laboratory for Prenatal Medicine, University Women’s Hospital, and Department of Research, University Hospital Basel, Basel, Switzerland; 2 University Women’s Hospital, University Hospital Basel, Basel, Switzerland; ...

This paper considers the joint role of macroeconomic and bankspecific factors in explaining the occurrence of bank failures. As bank failures are, fortunately, rare, we apply a regression model, based on extreme value theory, that turns out to be more effective than classical logistic regression models. The application of this model to the occurrence of bank defaults in Italy shows that, while ...

Financial institutions use quantitative risk models not only to manage their risks, but also to communicate information. The Basel regulation in particular uses banks’ own estimates to make capital requirements more sensitive to each bank’s risks, and both the models and the regulation have been blamed for their over-optimism. I link over-optimism to a hidden information problem between a regul...

We operationalize the definition of systemic risk provided by IMF, BIS, and FSB derive a two-stage hierarchical hypothesis test to identify indicators risk. Applying framework set candidate variables for 45 countries, we detect two credit-based financial cycle that, large, pass our test. However, many other variables, including Basel III credit-to-GDP gap, find that elevated is signaled high va...

In recent years, molecular-targeted agents have been used clinically to treat various malignant tumors. In May 2009, sorafenib (Nexavar ) was approved in Japan for ‘unresectable hepatocellular carcinoma (HCC)’, and was the first molecular-targeted agent for use in HCC. To date, sorafenib is the only molecular-targeted agent whose survival benefit has been demonstrated in two global phase III ra...