An autonomous altitude adjustment system for a stratospheric satellite(StratoSat)platform is proposed.This platform consists of a helium balloon,a ballonet,and a two-way blower.The helium balloon generates lift to bal...An autonomous altitude adjustment system for a stratospheric satellite(StratoSat)platform is proposed.This platform consists of a helium balloon,a ballonet,and a two-way blower.The helium balloon generates lift to balance the platform gravity.The two-way blower inflates and deflates the ballonet to regulate the buoyancy.Altitude adjustment is achieved by tracking the differential pressure difference(DPD),and a threshold switching strategy is used to achieve blower flow control.The vertical acceleration regulation ability is decided not only by the blower flow rate,but also by the designed margin of pressure difference(MPD).Pressure difference is a slow-varying variable compared with altitude,and it is adopted as the control variable.The response speed of the actuator to disturbance can be delayed,and the overshoot caused by the large inertia of the platform is inhibited.This method can maintain a high tracking accuracy and reduce the complexity of model calculation,thus improving the robustness of controller design.展开更多
We apply to the concrete setup of a bank engaged into bilateral trade portfolios the XVA theoretical framework of Albanese and Crepey(2017),whereby´so-called contra-liabilities and cost of capital are charged by ...We apply to the concrete setup of a bank engaged into bilateral trade portfolios the XVA theoretical framework of Albanese and Crepey(2017),whereby´so-called contra-liabilities and cost of capital are charged by the bank to its clients,on top of the fair valuation of counterparty risk,in order to account for the incompleteness of this risk.The transfer of the residual reserve credit capital from shareholders to creditors at bank default results in a unilateral CVA,consistent with the regulatory requirement that capital should not diminish as an effect of the sole deterioration of the bank credit spread.Our funding cost for variation margin(FVA)is defined asymmetrically since there is no benefit in holding excess capital in the future.Capital is fungible as a source of funding for variation margin,causing a material FVA reduction.We introduce a specialist initial margin lending scheme that drastically reduces the funding cost for initial margin(MVA).Our capital valuation adjustment(KVA)is defined as a risk premium,i.e.the cost of remunerating shareholder capital at risk at some hurdle rate.展开更多
基金the National Natural Science Foundation of China(No.52175103)。
文摘An autonomous altitude adjustment system for a stratospheric satellite(StratoSat)platform is proposed.This platform consists of a helium balloon,a ballonet,and a two-way blower.The helium balloon generates lift to balance the platform gravity.The two-way blower inflates and deflates the ballonet to regulate the buoyancy.Altitude adjustment is achieved by tracking the differential pressure difference(DPD),and a threshold switching strategy is used to achieve blower flow control.The vertical acceleration regulation ability is decided not only by the blower flow rate,but also by the designed margin of pressure difference(MPD).Pressure difference is a slow-varying variable compared with altitude,and it is adopted as the control variable.The response speed of the actuator to disturbance can be delayed,and the overshoot caused by the large inertia of the platform is inhibited.This method can maintain a high tracking accuracy and reduce the complexity of model calculation,thus improving the robustness of controller design.
基金The research of Stephane Cr´epey benefited from the support of the“Chair Markets´in Transition,”Fed´eration Bancaire Franc´¸aise,of the ANR project 11-LABX-0019 and from the EIF grant“Collateral management in centrally cleared trading.”。
文摘We apply to the concrete setup of a bank engaged into bilateral trade portfolios the XVA theoretical framework of Albanese and Crepey(2017),whereby´so-called contra-liabilities and cost of capital are charged by the bank to its clients,on top of the fair valuation of counterparty risk,in order to account for the incompleteness of this risk.The transfer of the residual reserve credit capital from shareholders to creditors at bank default results in a unilateral CVA,consistent with the regulatory requirement that capital should not diminish as an effect of the sole deterioration of the bank credit spread.Our funding cost for variation margin(FVA)is defined asymmetrically since there is no benefit in holding excess capital in the future.Capital is fungible as a source of funding for variation margin,causing a material FVA reduction.We introduce a specialist initial margin lending scheme that drastically reduces the funding cost for initial margin(MVA).Our capital valuation adjustment(KVA)is defined as a risk premium,i.e.the cost of remunerating shareholder capital at risk at some hurdle rate.
