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The purpose of this paper is to provide banking regulators with another tool to crosscheck the appropriateness and consistency of levels of capital adequacy for banks. The process begins by examining banking systems and focuses on market risks and the systemic risks associated with growing global economic integration and associated systemic interdependence. The model provides benchmarks for economic and regulatory capital for international banking systems using country, regional and global stock‐market generated price index returns data. The benchmarks can then be translated to crosschecking capital levels for banks within those systems. For analytical purposes systems are assumed to possess a degree of informational efficiency and credit, liquidity and operational risks are held constant or at least assumed to be covered in loan loss provisions. An empirical study is included that demonstrates how market risk and systemic risk can be accounted for in a benchmark banking system performance model. Full testing of the model is left for future research. The paper merely proposes that such an approach is feasible and useful and it is in no way intended to be a replacement for the current Basel Accord.

It has often been said that a great part of the strength of Aslib lies in the fact that it brings together those whose experience has been gained in many widely differing fields but who have a common interest in the means by which information may be collected and disseminated to the greatest advantage. Lists of its members have, therefore, a more than ordinary value since they present, in miniature, a cross‐section of institutions and individuals who share this special interest.

At a recent inquest upon the body of a woman who was alleged to have died as the result of taking certain drugs for an improper purpose, one of the witnesses described himself as “an analyst and manufacturing chemist,” but when asked by the coroner what qualifications he had, he replied : “I have no qualifications whatever. What I know I learned from my father, who was a well‐known ‘F.C.S.’” Comment on the “F.C.S.” is needless.

THE news that our royal President has been promoted to the command of a frigate sugges an increase rather than a relieving of naval duties. Our pleasure in the announcement is qualified by the fear that the further demands may make his presence with the Library Association in September even more difficult than it seemed to be a month ago. This is pure speculation on our part, but we are aware of the eagerness with which librarians look forward to the central event of the Centenary Year. We are assured that the matter is in good hands and at the right levels.

AN older librarian, we think, looking at the Annual Report of the Library Association, which is the principal publication of June, must almost rub his eyes in bewilderment at the recent progress made. In the outer world of libraries, that part which the public sees, there are symptoms, and actual signs, of development; new branch libraries, such as those at Sheffield, at Croydon, and at Dartford, are portents of a sort—pleasant substitutes, and most effective ones, for the larger, orthodox (in size at least) branches such as Yardley Wood, Crossgates, Firth Park and Leith. Greater development must be a problem for a few years to come, as every librarian must acknowledge. It is in the development of librarianship and bibliology that this record of the L.A. is so significant. The bare fact that the Centenary Year sees the L.A. with a membership rapidly approaching ten thousand and an income of £36,000 seems almost incredible. Even more so is the fact, not quite so pleasing, that by £347 this income proved insufficient; but, on reflection, that, too, is a sign of activity. The Association has almost ceased what was once thought to be its main pre‐occupation; its own organization, or, as one of our writers called it, “the moving about of its domestic furniture.” It is now deeply concerned with international librarianship, an attitude which in no small measure it owes to Mr. H. M. Cashmore and to Mr. Welsford's flair as host at Chaucer House; its gradual adjustment of its benefits, including the education ones, so that they appeal to other than public librarians, as they formerly did, and to such an extent that over one thousand special and university librarians are grouped in it; the immense, for it is that, educational and examination scheme, which from the accounts appears to cost: the administration about £1,900 more than the candidates' fees provide; its extending publishing business, now costing in all £12,150 a year, but bringing in returns more valuable than the substantial sales would suggest, and the quite remarkable library, information, and research work. The Association has become a large business, influencing the life of every librarian and energizing most of the work now done in libraries. The Report has a general acknowledgment paragraph recording the debt owed to the chairmen of committees. It is a modest tribute to a group of men who give great labours to our interests. To be the chairman of a Library Association Committee today is to be a leader and hard‐driven worker. We owe them much. And this does not reduce our admiration for the manner in which the official staff of the Association do their work.

The extent of national export volume attributable to the small firm sector within the UK does not compare favourably with that of certain other European countries/ particularly Germany and Italy. In an attempt to enhance the export competitiveness of this firm sector recent policy, research and management attention has been devoted to influences underlying export development. This article contributes to this knowledge by reviewing extensive research studies that have reported on one aspect of this topic: the international orientation of the decision maker within the small firm.

The following bibliography focuses mainly on programs which can run on IBM microcomputers and compatibles under the operating system PC DOS/MS DOS, and which can be used in online information and documentation work. They fall into the following categories:

The librarian and researcher have to be able to uncover specific articles in their areas of interest. This Bibliography is designed to help. Volume IV, like Volume III, contains features to help the reader to retrieve relevant literature from MCB University Press' considerable output. Each entry within has been indexed according to author(s) and the Fifth Edition of the SCIMP/SCAMP Thesaurus. The latter thus provides a full subject index to facilitate rapid retrieval. Each article or book is assigned its own unique number and this is used in both the subject and author index. This Volume indexes 29 journals indicating the depth, coverage and expansion of MCB's portfolio.