The global financial crisis （GFC） has placed the creditworthiness of banks under intense scrutiny. In particular, capital adequacy has been called into question. Current capital requirements make no allowance for ca...The global financial crisis （GFC） has placed the creditworthiness of banks under intense scrutiny. In particular, capital adequacy has been called into question. Current capital requirements make no allowance for capital erosion caused by movements in the market value of assets. This paper examines default probabilities of Swiss banks under extreme conditions using structural modeling techniques. Conditional Value at Risk （CVaR） and Conditional Probability of Default （CPD） techniques are used to measure capital erosion. Significant increase in Probability of Default （PD） is found during the GFC period. The market asset value based approach indicates a much higher PD than external ratings indicate. Capital adequacy recommendations are formulated which distinguish between real and nominal capital based on asset fluctuations.展开更多
Every day many students apply for and enroll in language-teaching courses to achieve their aims through learning another language. However, learning another language does not occur identically among all students. Some...Every day many students apply for and enroll in language-teaching courses to achieve their aims through learning another language. However, learning another language does not occur identically among all students. Some students learn a language, even their own mother tongue earlier but some others may need to spend more time acquiring a language. Seeking out for the probable reasons for such a difference, the current study following the constructivist approach to language learning and bearing in mind the role of society and human communities in language learning, was concluded to investigate the probable impact（s） of some social variables （social status, attitudinal and motivational status of learners） on language learning outcomes of Iranian adult learners assessed through a standardized English proficiency test. The findings have revealed that the social milieu in which learners live may play a decisive role as far as learning opportunities, input and resources are concerned.展开更多
文摘The global financial crisis （GFC） has placed the creditworthiness of banks under intense scrutiny. In particular, capital adequacy has been called into question. Current capital requirements make no allowance for capital erosion caused by movements in the market value of assets. This paper examines default probabilities of Swiss banks under extreme conditions using structural modeling techniques. Conditional Value at Risk （CVaR） and Conditional Probability of Default （CPD） techniques are used to measure capital erosion. Significant increase in Probability of Default （PD） is found during the GFC period. The market asset value based approach indicates a much higher PD than external ratings indicate. Capital adequacy recommendations are formulated which distinguish between real and nominal capital based on asset fluctuations.
文摘Every day many students apply for and enroll in language-teaching courses to achieve their aims through learning another language. However, learning another language does not occur identically among all students. Some students learn a language, even their own mother tongue earlier but some others may need to spend more time acquiring a language. Seeking out for the probable reasons for such a difference, the current study following the constructivist approach to language learning and bearing in mind the role of society and human communities in language learning, was concluded to investigate the probable impact（s） of some social variables （social status, attitudinal and motivational status of learners） on language learning outcomes of Iranian adult learners assessed through a standardized English proficiency test. The findings have revealed that the social milieu in which learners live may play a decisive role as far as learning opportunities, input and resources are concerned.
