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In 1998 and 1999 a small group of Dutch university libraries started working together to develop a set of instruments for performance measurement through benchmarking. This article gives a short description of the project, the results, and the local implementation of the outcomes of the project at Nijmegen University Library.

This paper aims to analyse the recent changes to the Pillar 2 regulatory-prescribed methodologies to classify and calculate credit concentration risk. Focussing on the Prudential Regulation Authority’s (PRA) methodologies, the paper tests the susceptibility to bias of the Herfindahl–Hirscham Index (HHI). The empirical tests serve to assess the assumption that the regulatory classification of exposures within the geographical concentration is subject to potential misuse that would undermine the PRA’s objective of obtaining risk sensitivity and improved banking competition.

Using the credit exposure data from three global banks, the HHI methodology is applied to the portfolio of geographically classified exposures, replicating the regulatory exercise of reporting credit concentration risk under Pillar 2. In doing so, the validity of the aforementioned assumption is tested by simulating the PRA’s Pillar 2 regulatory submission exercise with different scenarios, under which the credit exposures are assigned to different geographical regions.

The paper empirically shows that changing the geographical mapping of the Eastern European EU member states can result in a substantial reduction of the Pillar 2 credit concentration risk capital add-on. These empirical findings hold only for the banks with large exposures to Eastern Europe and Central Asia. The paper reports no material impact for the well-diversified credit portfolios of global banks.

This paper reviews the PRA-prescribed methodologies and the Pillar 2 regulatory guidance for calculating the capital add-on for the single name, sector and geographical credit concentration risk. In doing so, this paper becomes the first to test the assumptions that the regulatory guidance around the geographical breakdown of credit exposures is subject to potential abuse because of the ambiguity of the regulations.

This paper, based on case-studies with five universal banks from Europe and North America, aims to investigate which types of comprehensive risk measure (CRM) models are being used in the industry, the challenges being faced in implementation and how they are being currently rectified. Undoubtedly, CRM remains the most challenging and ambiguous measure applied to the correlation trading book. The turmoil surrounding the new regulatory framework boils down to the Basel Committee implementing a range of capital charges for market risk to promote “safer” banking in times of financial crisis. This report discusses current issues faced by global banks when complying with the complex set of financial rules imposed by Basel 2.5.

The current research project is based on in-depth, semi-structured interviews with five universal banks to explore the strides major banks are taking to introduce CRM modelling while complying with the new regulatory requirements.

There are three measures introduced by the Basel Committee to serve as capital charges for market risk: incremental risk charge; stressed value at risk and CRM. All of these regulatory-driven measures have met with strong criticism for their cumbersome nature and extremely high capital charges. Furthermore, with banks facing imminent implementation deadlines, all challenges surrounding CRM must be rectified. This paper provides some practical insights into how banks are finalising the new methodologies to comply with Basel 2.5.

The introduction of CRM and regulatory approval of new internal market risk models under Basel 2.5 has exerted strong pressure on global banks. The issues and computational challenges surrounding the implementation of CRM methodologies are currently fiercely debated among the affected banks. With little guidance from regulators, it remains very unclear how to implement, calculate and validate CRM in practice. To this end, a need for a study that sheds some light on practices with developing and computing CRM emerged. On submitting this paper to the journal, we have received news that JP Morgan is to pay four regulators $920 million as a result of a CRM-related scandal.

Aarhus Kommunes Biblioteker (Teknisk Bibliotek), Ingerslevs Plads 7, Aarhus, Denmark. Representative: V. NEDERGAARD PEDERSEN (Librarian).

By the beginning of the war, Germany's over‐all self‐sufficiency in food had reached a level of approximately 83 per cent., on the peace‐time basis of 2,200—2,400 calories per person per day. In respect to some types of food, however, the situation was not satisfactory. For example, before the war she produced approximately 73 per cent. of fish requirements, 12 per cent. of corn, 50 per cent. of legumes, and 60 per cent. of fat within her own boundaries. The country could be fed at a reduced level by the produce raised within its own boundaries if food were perfectly controlled and evenly distributed. However, in practice, individual provinces were much less favourably situated in this respect. Western Germany, an area of relatively small and diversified farms, was critically dependent on the eastern provinces for its flour, grain, and potato supplies. It is clear that all German civilians could be fed at a uniform level of adequacy during a war only by control of the country's food supply at the national level and by the continued operation of the new transportation network of the country. For this reason the bombing of rail and inland water transportation facilities became such a serious threat to national uniformity in food distribution. Of the many kinds of centralised food processing industries known in the United States, only a few played an important role in the food supply of German civilians. The principal examples of these were grain milling, sugar production and refining, and the large bakeries of urban areas. The damage or destruction of these facilities, incidental to air attack on other industrial targets, seriously decreased their production capacity. Bombing destroyed the mills for processing 9 per cent. of the German rye output and 35 per cent. of the wheat output. Of the sugar refineries four plants producing 300,000 tons annually, were destroyed. This represents a 38 per cent. decrease in production of sugar. Similarly bombing of chemical plants was largely responsible for the decrease in the supply for fertiliser nitrogen. In 1939, 718,000 tons of fertiliser nitrogen were available, but by 1945 this had decreased to 140,000 tons. The significance of this destruction of facilities vital to the feeding of a country already on a border‐line diet is ominous. Reliable estimates indicate that aerial bombings destroyed 35 per cent. of Germany's total (approximately 460,000 square metres) cold storage capacity. The increased use of cold storage intensified their dependence on transportation and on the continuity of the power supply. Aerial attack, as a result, not only decreased usable cold storage space, but also seriously interfered with the operation of the remaining space by impeding shipments and interrupting sources of power. It was the constantly reiterated opinion of all food officials that the bomb destruction of the transportation network was the largest single factor contributing to the disruption of the food supply. Bulk shipments which had been carried on inland waterways were seriously impeded by the bombing of canals. Aerial attack against railway lines, bridges and terminal facilities caused widespread interruptions in service and destroyed rolling stock, freight en route and handling facilities at terminals. It is not possible at this time to state exactly in what measure the curtailment of the national diet contributed to the ultimate defeat of Germany. The evidence available indicates, however, that it was an important factor. There is in any case no doubt that strategic bombing is the major element contributing to the present shortage of food in Germany. It was not apparent that the Germans considered the vitamin and mineral content of food in determining the ration allowances of the people. Immediately with the beginning of the war, all the principal foods were rationed, so that the lack of recognition of the importance of the vitamin and mineral content of this ration actually was an additional point of vulnerability for the German diet. With a food economy so vulnerable it is not surprising to have found that the basic food rationing programme was abandoned early in 1945 when the destruction of transport and communications by the strategic air offensive attained major proportions. This necessitated falling back on the inadequate system of regional self‐supply. The destruction of large food stocks, processing plants and cold storage plants by bombing also contributed to the general deterioration of the German food supply. There is ample evidence for the conclusion that as a result of the strategic air offensive the nutritional demands for the continued health of the German people could not be met.

MODERN work study technique demands that the methods engineer and the time study engineer work hand in hand for the benefit of productivity as a whole. And to state the obvious it is becoming clearer that time and motion are indivisible.

The systematic risks related to credit financing has received significant attention in the academic domain during and after any financial crisis. However, the role of insurance has not been adequately studied in the context of crises. The extant literature also shows that the scale of credit financing depends upon the availability of credit insurance and on the policy orientation. Past evidence shows that demand for credit insurance was significantly high during the crisis period. Therefore, this chapter proposes to study the role of various combinations of these two aspects near the period of crisis. The findings of this chapter are based on the outcomesof previous research articles on these topics. The research articles are gathered from various online databases for the years 2000–2014 for the G7 economies. This chapter has alsoincluded facts from contextual policy documents on monetary and fiscal policies where it finds them necessary. Broadly, this chapter describes the role of policies when two mutually dependent industries interact and adversely impact market equilibrium.

OUR good custom, as we deem it, to wish our readers a larger measure of happiness and success than heretofore we repeat for 1947. There are many signs in the libraries to give encouragement to the hope that they, the libraries, are now so well established everywhere that the old evils of complete disregard, penury and restriction will not recur and that, gradually but surely, the aims and the purpose for which we stand will be realized. That they may be so for all readers of The Library World is, we believe, the best possible New Year wish.

Should allowance for fatigue be made in Rating? The orthodox answer to this is that it should not.

Starting from a series of financial ratios analysis, this paper aims to build up two indices which take into account both the firm’s debt level and its sustainability to investigate if and to what extent the proposed indices are able to correctly predict firms’ financial bankruptcy probabilities.

The research implements a statistical approach (tandem analysis) based on both an original use of principal component analysis (PCA) and logit model.

The econometric results are compared with those of the popular Altman Z-score for different lengths of the reference period and with more recent classifiers. The empirical evidence would suggest a good performance of the proposed indices which, therefore, could be used as early warning signals of bankruptcy.

The potential application of the model is in the spirit of predicting bankruptcy and aiding companies’ evaluation with respect to going-concern considerations, among others, as the early detection of financial distress facilitates the use of rehabilitation measures.

The construction of the indebtedness indices is based on an original use of Robust PCA for skewed data.