The purpose of this paper is to examine the determinants of the timing of bank failure/merger in 10 Asian countries over the period of 1999-2007 using a multivariate logit model and a split population duration analysis. Apart from bank-specific information, we also focus on the effects of macroeconomic and financial characteristics. The following empirical findings are obtained. First, the resu...

Introduction In the January consultative package (CP), an underlying tenet of the proposed IRB approach for corporate exposures is that the source of repayment of the loan is based primarily on the ongoing operations of the borrower, rather than the cash flow from a project or property. In this context, assets pledged as collateral serve as a risk mitigant and as a secondary source of repayment...

About three quarters of credit-card accounts attract interest charges. In the United States, credit-card debt is $951.7 billion of a total of $2,539.7 billion of consumer credit. In the United Kingdom, credit-card debt is d55.1 billion of d174.4 billion of consumer credit. The 2005 U.S. Bankruptcy Abuse Prevention and Consumer Protection Act and the 2003 United Kingdom Treasury Select Committee...

Sovereign risk premia reflect investors’ beliefs for the equilibrium and off -equilibrium actions of international agents. This paper investigates the international dimension of self-fulfilling sovereign debt crises and characterizes self-interested bailouts (solidarity) and contagion. A credible bailout guarantee by a partner country or international agency can lower a debtor country’s borrowi...

Some structural control systems have been devised to protect structures against earthquakes, which the tuned mass damper (TMD) being one of the earliest. The effect of a tuned mass damper depends on its properties, such as mass, damping coefficient, and stiffness. The parameters of tuned mass dampers need to be tuned based on the main system and applied load. In most of the papers, the paramete...

Fault Tree Analysis (FTA) as a Probabilistic Risk Assessment (PRA) method is used to identify basic causes leading to an undesired event, to represent logical relation of these basic causes in leading to the event, and finally to calculate the probability of occurrence of this event. To conduct a quantitative FTA, one needs a fault tree along with failure data of the Basic Events (BEs). Someti...

Reliability of a system is the probability that it will function as intended for the required period of time. The opposite of reliability is failure probability per unit time or over time, such as a life cycle. Following a review of existing reliability codes and approaches, comprehensive approaches to assess the reliability of offshore structures are described, including probabilistic analysis...