Digital Commons Network^™

How Us Bank Regulation Failed Svb And Its Supervisors, Greg Feldberg, Carey K. Mott, Jill Cetina

Journal of Financial Crises

It is well known that Silicon Valley Bank (SVB) failed in March 2023 because of a toxic combination of uninsured deposits and underwater securities. This article argues that the bank’s failure could have been avoided if SVB had been subject to two global standards established by the Basel Committee on Banking Supervision. First, the interest-rate risk in the banking book (IRR-BB) standard, never fully implemented in the United States, would have identified the bank’s extremely risky asset-liability management strategy and required remedial action 10 quarters before it failed. Second, the liquidity coverage ratio (LCR), from which US regulators had exempted …

Emergency Liquidity Assistance And Monetary Financing In The European Union: A Case Study In Fiscal Cooperation?, Vincient Arnold

Journal of Financial Crises

In the European Union (EU), primary EU treaty law prohibits central banks from engaging in monetary financing, which includes lending to insolvent firms. This legal prohibition exists alongside, and in parallel to, various regulatory provisions of the Eurosystem. As a result, EU Member State central banks face unique legal limitations when acting in their roles as lenders of last resort, providing emergency liquidity assistance (ELA). In practice, European central banks—both members of the Eurosystem and not—lend to firms of questionable solvency with some frequency, often creatively employing fiscal guarantees to limit their balance sheet exposure and shift the lending risk …

United States: Rhode Island Limited Bank Holiday, 1991, Ayodeji George, Sophia Alden

Journal of Financial Crises

In 1990, the Rhode Island Share and Deposit Indemnity Corporation (RISDIC) was a private mutual deposit insurance corporation funded by member institutions. Late that year, after the failures of two of its insured institutions in July and October, other RISDIC member institutions faced large depositor withdrawals, as concerns began to focus on the financial health of RISDIC itself. RISDIC had maintained inadequate reserves, and on December 31, 1990, it found itself lacking the resources to cover depositor withdrawals from member institutions. RISDIC leadership requested a state-appointed conservator, which meant that all its member institutions no longer had the deposit insurance …

United States: Reserve Primary Fund Suspension, 2008, Anmol Makhija

Journal of Financial Crises

In 2008, the Reserve Primary Fund was the world’s third-largest money market fund with $62.5 billion in assets. Following Lehman Brothers’ bankruptcy filing on September 15, the Primary Fund’s $785 million position in Lehman debt securities was underwater, and the fund faced severe redemption pressures from investors. In just two days, redemption requests surpassed $40 billion. Owing to the fund’s inability to liquidate assets at or above par value in the frozen markets and the inability of its sponsor, the Reserve Management Company, Inc. (RMCI), to support investors, the Reserve announced on September 16 that the Primary Fund had “broken …

India: Yes Bank Moratorium, 2020, Salil Gupta

Journal of Financial Crises

By December 2019, Yes Bank’s capital levels had dropped below the Reserve Bank of India’s (RBI) mandated threshold, as the bank was facing a combination of deposit withdrawals, losses from extraordinary credit provisions, and overexposure to stressed sectors. On March 5, 2020, India’s Ministry of Finance (MoF) and the RBI placed Yes Bank under a 30-day moratorium that restricted most banking functions and limited deposit withdrawals to INR 50,000 per person (USD 663). The purpose of this moratorium was to allow the RBI time to design a plan of reconstruction or amalgamation for Yes Bank to allow depositors limited access …

United States: National Bank Holiday, 1933, Ayodeji George

Journal of Financial Crises

By mid-February 1933, the United States was in the depths of the Great Depression and the banking system faced sustained depositor runs and currency hoarding. On February 14, the governor of Michigan declared a holiday for all banks and trusts in the state. There followed a wave of declared bank holidays and bank runs across the country. The public withdrew $1.8 billion in gold and currency from banks in February and early March, with nearly two-thirds of those withdrawals occurring in the week ended Friday, March 3. By that date, 25 of 48 states had implemented bank holidays or restricted …

Greece: National Bank Holiday, 2015, Stella Schaefer-Brown

Journal of Financial Crises

In December 2014, deposit outflows from Greek banks intensified owing to political uncertainty following the announcement of a snap presidential election and a subsequent crash of the Greek stock market. This led to a liquidity crisis in the first half of 2015. Intensifying political uncertainty, worsening liquidity, and volatility in the macroeconomic and financial markets environment peaked in the first half of 2015. The crisis was exacerbated by a February decision by the European Central Bank (ECB) that made it difficult for Greek banks to continue borrowing from its monetary policy-related liquidity programs. On June 28, 2015, the ECB announced …

Cyprus: National Bank Holiday, 2013, Stella Schaefer-Brown

Journal of Financial Crises

The Greek government debt crisis was especially hard on the two largest Cypriot banks. Bank of Cyprus (BoC) and Laiki Bank lost EUR 1.8 billion and EUR 2.3 billion, respectively, on their Greek government bonds after the European Union (EU) decision in October 2011 to haircut the bonds. Over the next year, Laiki Bank faced severe liquidity problems from depositor withdrawals, the Central Bank of Cyprus (CBC) extended to it significant emergency liquidity assistance, and the government owned 84% of the bank after injecting EUR 1.8 billion. The Cypriot economy also suffered negative effects and in March 2013, authorities negotiated …

Ecuador: National Bank Holiday, 1999, Bailey Decker

Journal of Financial Crises

After a series of exogenous shocks hit Ecuador’s economy in 1997 and 1998, foreign creditors reduced external credit lines to the country, draining liquidity. The newly created Deposit Guarantee Agency (Agencia de Garantía de Depósitos, AGD) administered deposit insurance and a new blanket guarantee and had the authority to resolve failing banks. Despite these actions, bank runs continued. After depositors reportedly withdrew USD 400 million from banks over a two-week period, on Monday, March 8, 1999, one hour before banks were supposed to open, the bank superintendent declared a surprise bank holiday effective that day; banks reopened a week later …

Argentina: National Bank Holidays, 2001, Owen Heaphy

Journal of Financial Crises

Starting in 1991, Argentina operated a currency board regime under which the central bank guaranteed a one-to-one peg of the Argentine peso to the US dollar. But in 2001, markets became increasingly concerned that the central bank would be unable to maintain the peg and would allow the peso to devalue against the dollar. At that time, more than two-thirds of Argentine bank deposits were denominated in dollars. Throughout 2001, depositors withdrew funds from banks; by November, peso deposits had declined by more than one-third and dollar deposits had fallen by one-tenth. On November 28, 2001, the systemwide banking run …

Survey Of Bank Holidays And Fund Suspensions, Rosalind Z. Wiggins, Owen Heaphy, Anmol Makhija, Stella Schaefer-Brown, Greg Feldberg, Andrew Metrick

Journal of Financial Crises

In this paper, we analyze seven case studies involving bank holidays and two involving mutual fund suspensions produced by the Yale Program on Financial Stability. Our main purpose is to assist policymakers who are considering utilizing a bank holiday in designing the most effective program as efficiently as possible. We find that a bank holiday may be most useful when designing and implementing a comprehensive remedy to an underlying problem distressing banks, particularly when an exogenous shock rather than balance sheet weaknesses is the cause of general distress to the system. A holiday is also useful to “ring-fence” one or …

Argentina: Mutual Fund Suspensions, 2019, Owen Heaphy, Anmol Makhija

Journal of Financial Crises

With Argentina facing a liquidity crisis and collapse in demand for government debt, on Wednesday, August 28, 2019, the country's minister of economy, Hernán Lacunza, announced after markets closed that the government was extending the maturity of USD 7 billion of its short-term public debt securities, among other measures. Lacunza stated that domestic retail investors would not be subject to the terms of the maturity extension and would be paid principal and interest on the affected securities per the original maturity schedule. This announcement caused confusion about the treatment of individual investors who held the affected securities indirectly through mutual …

Investigation Of Neuropsychological Symptoms And Changes In Gut Microbiome Physiology As Risk Factors For Chemotherapy-Induced Nausea In Patients With Breast Cancer, Komal P. Singh

Sigma Foundation for Nursing Research Grant Reports

The primary objective of this study was to investigate associations between chemotherapy-induced nausea (CIN) and gut microbiome characteristics over one cycle of chemotherapy.

Paving The Way For The Future Of Robotic Compact Storage And Retrieval Systems: An Innovative Conceptual Design, Mahmut Tutam

International Material Handling Research Colloquium

No abstract provided.

C1) Critical Reflection On The Specificity And Coherence In Portugal Of Processions And Pilgrimages As Religious Practices, Adalberto Dias De Carvalho

International Religious Tourism and Pilgrimage Conferences

In an anthropological and ethical tourist exploration of religious practices, silence due to its symbolic and spiritual value stands out, among others, as an important and profound experience. It is used in different ways, depending on the religious tradition, but it always emerges as being powerful in deepening the connection with the divine and facilitating inner meditation.

In Christianity, silence, by fostering a more direct relationship with the sacred, also promotes listening to the ˜answers of the entity to which that communication is especially directed.

Since the acceptance and practice of silence is inherent and clearly compatible with ritual solemnities, …

D3) Sacred Steps: Walking, Religion, And The Path To Peace, Francesca Benna

International Religious Tourism and Pilgrimage Conferences

Walking is one of the simplest and most primordial human acts, yet it carries profound meanings that transcend cultures, religious traditions, and paths of individual and collective transformation. Walking is not merely a means of movement but a practice that fosters reconnection with oneself, the environment, and the community. Bruce Chatwin, in The Songlines, highlights how nomadism is an inherent human condition, suggesting that movement is essential not only for physical survival but also for mental and spiritual well-being. In an era marked by environmental crises, conflicts, and increasing technological alienation, rediscovering the value of walking responds to a deep …

C2) Generation Z Tour Guiding Performance With Tourists From The Three Abrahamic Religions, Vitor Ambrósio, Carlos Santos

International Religious Tourism and Pilgrimage Conferences

Major changes are occurring in tourism and enterprises should try to be proactive. Through higher education, students are exposed to the latest knowledge that should also benefit the entrepreneurs of the tourism sector. Yet the connection between institutions of knowledge and the tourism trade is critically lacking. All parties involved are aware of this, however, there are no clear guidelines on how to build more solid bridges between different actors. Many evidence and studies suggest that Muslim tourists have become an important global market (Oktadiana, 2021), also Jewish tourists are quite important for the tourism industry (Lybra Tech SRL, 2025). …

C3) From Ritual To Heritage: Mountain Pilgrimages And The Transmission Of Practices In Corsica, Angelina Antonetti

International Religious Tourism and Pilgrimage Conferences

In Corsica, mountain pilgrimages serve as a key vector for the transmission of the sacred and a marker of collective identity. Rooted in popular religiosity, these practices intertwine ritual performance, oral tradition, and spatiality, shaping a unique relationship between faith and territory. The study of these pilgrimages offers a means to examine the processes of sacralization of mountain spaces and their role in the transmission of religious practices, as well as the question of their heritage status.

This study focuses on three mountain pilgrimages in Corsica: Sant'Alesiu di Sermanu, Sant'Alesiu d'Alisgiani, and San Bertuli d’Orezza. Based on ethnographic fieldwork, it …

C4) Rewriting Pilgrimage Narrative For A Young Audience In Love From Mecca To Medina, Dorothy Lane

International Religious Tourism and Pilgrimage Conferences

In my latest scholarship, I focus on fictional texts that incorporate and yet challenge the conventional pilgrimage narrative, and the nexus of spiritual, personal, and professional elements involved in travel to sites of sacred significance, often tracing traditional pilgrimage routes. In this paper, I will revisit that diasporic element in SK Ali's young adult novel Love from Makkah to Madinah (2022), which again transgresses definitions of genre, incorporating a pilgrimage narrative, a romance of two young adult Westernized Muslims, and a focus on grounded (sand) and simultaneously transcendent (stars) travel through sacred space and text.

My study integrates dialogue with …

D1) Sacred Tattoos And Pilgrimage Tourism As Spiritual Identity, Rossana Salerno

International Religious Tourism and Pilgrimage Conferences

Pilgrimage tourism and sacred tattoos represent unique intersections of cultural heritage, spirituality, and personal identity. Pilgrimage tourism involves journeys to sacred sites, often for religious or spiritual reasons, and has evolved into a global industry. Sacred tattoos, deeply embedded in various cultural and religious practices, symbolize a connection to the divine or mark significant life events.

This study explores the evolving role of sacred tattoos in the context of pilgrimage tourism, where travelers seek not only physical journeys to sacred destinations but also spiritual transformations through body art. Sacred tattoos often serve as markers of identity, protection, or devotion, integrating …

D2) Montserrat: A Millennium Of Faith, Pilgrimage, And Cultural Heritage, Silvia Aulet, Dolors Vidal-Casellas

International Religious Tourism and Pilgrimage Conferences

In 2025, Montserrat (in Catalonia) is celebrating the millennium of the foundation of the monastery, an event that will mark a thousand years of history, faith and culture in this emblematic sanctuary. This anniversary represents an extraordinary opportunity to promote religious and spiritual tourism, reinforcing Montserrat as a destination for pilgrimage.

Montserrat is a point of reference for millions of visitors annually, both for its religious importance and for its natural and historical heritage. The combination of faith, culture and nature makes this a unique destination for pilgrims, hikers and tourists from all over the world. The millenary is an …

A Multi-Model Tool For Evaluating Sustainability Levels Of Last Mile Logistic Services Developed By Drones, Maria Grazia Gnoni, Fabiana Tornese, Lorenzo Rubrichi

International Material Handling Research Colloquium

No abstract provided.

Estimating Order Picking Distances Using Machine Learning, Hector J. Carlo, Carlos A. Morel-Figueroa, Victoria Méndez-González, Yamilette Boscio-Sánchez, Alex Demel-Pacheco

International Material Handling Research Colloquium

No abstract provided.

Enhancing Social Sustainability In Parcel Hubs Using Discrete Event Simulation And Multi-Objective Optimization, Harald Steinkellner, Domenik Kaever, Christoph Rockenschaub

International Material Handling Research Colloquium

No abstract provided.

Throughput Comparison Between An Amr-Based Sorting System And A Loop Sorter: A Case Study On High-Performance Parcel Sorting, Moritz Roidl

International Material Handling Research Colloquium

No abstract provided.

Supply Chain Robustness And Resilience Modeling Using Bayesian Networks, Md Sarder, Seyedmohsen Hosseini

International Material Handling Research Colloquium

No abstract provided.

Assess Picker Postural Risk Using Real-Time Posture Estimation Technology (Openpose) For Robotic Mobile Fulfillment Systems, Ching-Jung Ting, Tzu-Heng Kao, Kuan-Ting Liu

International Material Handling Research Colloquium

No abstract provided.

Fostering An Inclusive Environment For New Students Through The South Pacific Division Community Support System At The Adventist International Institute Of Advanced Studies: An Appreciative Inquiry, Anasa Tabua

Adventist Human-Subject Researchers Association

This study uses Appreciative Inquiry to explore how the South Pacific Division (SPD) community support systems at the Adventist International Institute of Advanced Studies (AIIAS), grounded in Social Capital Theory, foster inclusivity for new students. It examines existing systems, identifies strengths, and explores enhancement strategies. The findings offer implications for other AIIAS communities and Adventist institutions seeking to enhance support systems and foster inclusive environments.

Exploring The Impact Of Digital Solutions On Sustainable Economic Growth In The Agricultural Sector Of Rural Zambia: A Case Of Central, Lusaka And Southern Provinces, Ireen Wesley Chimoga V

Adventist Human-Subject Researchers Association

The study explored the impact of digital solutions on sustainable economic growth in the agricultural sector of rural Zambia, focusing on Central, Lusaka, and Southern provinces. It explored how digital mobiles can increase agricultural production, reduce poverty, and advance economic growth. The findings aimed to suggest policies for rural development.

Factors Contributing To Low Back Pain Among Field Workers In Tanzania, Gerson De Leone, Don Noval, Amany Lorino, Ryan Lorino, Ruth Kajiru Nyika, Sozina Katuli

Adventist Human-Subject Researchers Association

Working in rice fields presents challenges to health that have grave consequences beyond back pain. Men and women in Kihurio village engage on a series of rice planting activities that affect the back. This study explores the factors to back problem in Tanzania and thrives to Identify corrective measures.