Search results for "Rates"

Impacts of sovereign risk premium on bank profitability: Evidence from euro area

2021

We analyse the effects of low and negative interest rates and sovereign risk premium on bank profitability among 154 Eurozone banks during the period 2005–2019. In contrast to some of the results in the previous literature, we find that the euro area banks have not suffered too much from the extremely low and negative interest rate era regarding their net interest margins. However, the overall profitability has lowered clearly during the sample period, and the sovereign risk premium has a robust negative effect on all the overall profitability measures, both with risk-adjustment and without it, but it seems to have an increasing effect on the degree of wholesale funding and loan loss provis…

Keep the faith in banking : New evidence for the effects of negative interest rates based on the case of Finnish cooperative banks

2021

This paper analyses the profitability of Finnish cooperative banks during the period of negative nominal interest rates. Contrary to expectations, the continuous decline in money market interest rates between 2009 and 2014, and the following negative rate era, did not have adverse effects on the profitability of banks at the beginning of negative interest rate period. Based on especially using a risk-adjusted measure for bank profitability, these results contrast with previous findings. In our findings, the increasing wholesale funding (WSF) ratio seems to be an important factor. However, after 2017 the banks have not been able to improve especially their risk-adjusted profitability so stro…

Stock market information and the relationship between real exchange rate and real interest rates

2013

In this paper we propose to augment the traditional relationship between real exchange rates and real interest rates (RERI) by adding the stock market equilibrium condition to it. We introduce the relative dividend yield as the new information variable. In the empirical analysis we use recent monthly observations from the U.K., Japan, Canada and Eurozone, all relative to the U.S. We show that the introduction of stock market information is highly relevant for the functioning of the RERI hypothesis. Based on the results from the cointegration analysis the role of relative stock market performance is especially important in the short- term (3 month) horizon, where the augmented RERI represent…

Stock Returns and Exchange Rate Volatility Spillovers in the MENA Region

2010

In this article, we examine the presence of volatility spillovers between nominal exchange rates and stock returns in three MENA countries: Egypt, Morocco and Turkey. The multivariate GARCH model we use does not produce evidence of cross-market effects for the general stock indices returns. Nevertheless, bidirectional shock and volatility spillovers between exchange rates and stock returns exist at the industry sector level. These findings are more pronounced in Egypt and Turkey. The different results are due to the different exchange rate regimes/policies adopted by the three countries. While exchange rates in Egypt and Turkey were allowed to float, Morocco followed a more tightly managed…

Microscopic calculation of the LSP detection rates for the 71Ga, 73Ge and 127I dark-matter detectors

2004

Abstract We have investigated the nuclear-structure details of the cross sections for the elastic scattering of Lightest Supersymmetric Particles (LSPs) from the promising dark-matter detectors 71 Ga, 73 Ge and 127 I. The associated LSP detection sensitivities have been obtained by a folding procedure for several recently proposed SUSY models with different scalar and axial-vector characteristics. For the nuclear problem, a realistic microscopic Hamiltonian has been used within realistic model spaces. The diagonalization of this Hamiltonian has been done by using the Microscopic Quasiparticle–Phonon Model (MQPM), suitable for description of spectroscopic properties of medium-heavy and heavy…

Dark-matter detection by elastic and inelastic LSP scattering on 129Xe and 131Xe

2008

Abstract We calculate the nuclear matrix elements involved in the elastic and inelastic scattering of the lightest supersymmetric particle (LSP) on the 129Xe and 131Xe dark-matter detector nuclei. This is the first time when both channels are addressed within the same unified microscopic nuclear framework, namely we perform large-scale shell-model calculations with a realistic two-body interaction to produce the participant nuclear wave functions. These wave functions successfully reproduce the spectroscopic data on the relevant magnetic moments and M1 decays. The tested wave functions are used to produce annual average detection rates for both the elastic and inelastic channels. It is foun…

The composite operator method route to the 2D Hubbard model and the cuprates

2018

In this review paper, we illustrate a possible route to obtain a reliable solution of the 2D Hubbard model and an explanation for some of the unconventional behaviours of underdoped high-$T_\text{c}$ cuprate superconductors within the framework of the composite operator method. The latter is described exhaustively in its fundamental philosophy, various ingredients and robust machinery to clarify the reasons behind its successful applications to many diverse strongly correlated systems, controversial phenomenologies and puzzling materials.

LACTATE-DEHYDROGENASE ISOENZYMES IN NERVOUS TISSUE. II. A COMPARATIVE ANALYSIS IN VERTEBRATES.

1963

A new neuraminic acid derivative and three types of glycopeptides isolated from the Cuvierian tubules of the sea cucumber Holothuria forskali

1973

The Cuvierian tubules of Holothuria forskali Della Chiaje, a sea cucumber found in the Adriatic Sea, were investigated with regard to their carbohydrate moieties. From a Pronase digest of these tubules three types of carbohydrate units were isolated and characterized. 1. A high-molecular-weight glycopeptide fraction was shown to contain sulphated polyfucose, galactosamine, a uronic acid and a previously unknown neuraminic acid derivative. The sulphate was shown by i.r. analysis to be present as an O-ester. The carbohydrate unit was linked O-glycosidically to threonine and serine residues in the polypeptide chain. The hitherto unknown neuraminic acid derivative (Hf-neuraminic acid) was resis…

N-Glycosylation modification of proteins is an early marker of the enterocytic differentiation process of HT-29 cells

1990

International audience; The human colon cancer cell line HT-29 remains totally undifferentiated when glucose is present in the culture medium (HT-29 Glc+), while the same cells may undergo typical enterocytic differentiation after reaching confluence when grown in glucose-deprived medium (HT-29 Glc-). Recently, we demonstrated a deficiency in the overall N-glycan processing in confluent undifferentiated cells, whereas differentiated cells follow a classical pattern of N-glycosylation. The main changes in N-glycosylation observed in confluent undifferentiated cells may be summarised as follows: 1) the conversion of high mannose into complex glycopeptides is greatly decreased; 2) this decreas…