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Yale University

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2020

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Full-Text Articles in Social and Behavioral Sciences

Review Of Archival Values: Essays In Honor Of Mark A. Greene, Gregory Wiedeman Dec 2020

Review Of Archival Values: Essays In Honor Of Mark A. Greene, Gregory Wiedeman

Journal of Contemporary Archival Studies

Archival Values: Essays in Honor of Mark A. Greene is an archetypal Festschrift with 23 essays on each of the 11 Society of American Archivists Core Values of Archivists. This is primarily a book about archival professionalism, as Scott Cline’s framing essay offers the values as "integral to the archival endeavor" and the SAA Publications Board selected it as the fourth of SAA’s annual “One Book, One Profession” series. The book features some particularly standout works that will help both graduate students and veteran archivists better understand some of the more cutting-edge ideas that are reshaping how archivists think of …

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Review Of Advocacy And Awareness For Archivists, Elizabeth D. James Dec 2020

Review Of Advocacy And Awareness For Archivists, Elizabeth D. James

Journal of Contemporary Archival Studies

Advocacy and Awareness for Archivists is at once a practical guide and a call to action to consistently communicate the work and impact of archives at the local, regional, and national levels. As an expansion of the Archival Fundamentals Series, the book places the work of advocacy as being central to the archives profession. However, it neglects to incorporate contemporary archival concerns related to power dynamics and inequity when planning and conducting an advocacy effort.

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Warfare And Welcome: Practicality And Qur’Ānic Hierarchy In Ibāḍī Muslims’ Jurisprudential Rulings On Music, Bradford J. Garvey Nov 2020

Warfare And Welcome: Practicality And Qur’Ānic Hierarchy In Ibāḍī Muslims’ Jurisprudential Rulings On Music, Bradford J. Garvey

Yale Journal of Music & Religion

While much ink has been spilled by musicologists on the legal standing of music in Islamic jurisprudential scholarship, few scholars have offered as comprehensive a view as Lois Ibsen Al-Faruqi. Thirty-five years after her major works on this issue, this article seeks to reassess her model of musical legitimacy within Muslim scholarship. Al-Faruqi places Qur’ānic recitation at the apex of a unidirectional continuum of sound art, with genres less similar to the recitation of the Qur’ān located progressively further away from it. Based on fieldwork in the Sultanate of Oman in 2015-17 and engaging with recent reinvigorations on the anthropological …

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Metta, Mudita, And Metal: Dhamma Instruments In Burmese Buddhism, Gavin D. Douglas Nov 2020

Metta, Mudita, And Metal: Dhamma Instruments In Burmese Buddhism, Gavin D. Douglas

Yale Journal of Music & Religion

Bells, gongs, and other dhamma instruments offer valuable insights into the role of sound in Buddhist practice. Participation in musical events in the Theravada Buddhist world is deemed inappropriate for devote laity and for those who have taken monastic vows. The seventh Buddhist precept implores monks “to abstain from dancing, singing, and music,” yet Buddhist monasteries and pagodas are sonically vibrant places that contain a wide variety of layered bells, gongs, chants, and prayers sculpting the sonic environment. This study examines the soundscape of Burmese Buddhist social space and argues that these sounds are essential to understanding the lived practice …

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Mplp: From Practice To Theory, Kyna Herzinger Nov 2020

Mplp: From Practice To Theory, Kyna Herzinger

Journal of Contemporary Archival Studies

This paper traces the transformation of More Product, Less Process or MPLP from a processing methodology to a principle that has supported a growing toolbox of practices. It highlights the seeds of that principle, which are rooted in Greene and Meissner’s effort to shift professional focus away from processing minutiae and toward access to and use of archival materials. Although MPLP developed out of demonstrable needs, its underlying attention to the nature of archival work and the archivist’s role within that work speaks to deeper concepts addressed within archival theory. This paper argues that MPLP’s pragmatic methods have evolved beyond …

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Labor Gone Digital (Digifacket)! Experiences From Creating A Web Archive For Swedish Trade Unions, Jenny Jansson, Katrin Uba, Jaanus Karo Nov 2020

Labor Gone Digital (Digifacket)! Experiences From Creating A Web Archive For Swedish Trade Unions, Jenny Jansson, Katrin Uba, Jaanus Karo

Journal of Contemporary Archival Studies

The Internet has become an increasingly important forum for societal activism, as event mobilization, member organization, and some actions have moved online. These new types of activities, often facilitated by diverse social media platforms such as Facebook, Twitter, and Instagram, form an increasingly important part of contemporary social movements’ and organizations’ communication, work, and expression. This rapid digitalization and the increase of online activities have created a dilemma for social movement archives and researchers: Born-digital material is necessary to understand our contemporary movements, yet the materials generated and available on the Internet are rarely systematically archived. To help find solutions …

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Review Of Leading And Managing Archives And Manuscripts Program, Rory Grennan Nov 2020

Review Of Leading And Managing Archives And Manuscripts Program, Rory Grennan

Journal of Contemporary Archival Studies

Review of Leading and Managing Archives and Manuscripts Programs, edited by Peter Gottlieb and David W. Carmichael, examining the main topics of leadership and management of people in archival programs, its place in the archival literature, and its potential audience.

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Review Of Do Archives Have Value?, Luciana Duranti Oct 2020

Review Of Do Archives Have Value?, Luciana Duranti

Journal of Contemporary Archival Studies

This book is about the value of archives in all of its connotations: value as evidence, memory, culture, source for a variety of practical purposes, and, most interestingly, value as means of financial gain for corporations. Each chapter emphasizes values in a variety of contexts: from Malawi, Australia, and the United Kingdom, to India, Hong Kong and Japan. In the process of discussing such values, several authors explain how archives came to be accumulated and preserved in their countries and how these processes have determined the value, as well as the worth, of their archives today. Though the chapters are …

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Perspectives And Practices: Archival Processing Metrics Survey Findings, Cyndi Shein, Sarah R. Jones, Tammi Kim, Karla Irwin Oct 2020

Perspectives And Practices: Archival Processing Metrics Survey Findings, Cyndi Shein, Sarah R. Jones, Tammi Kim, Karla Irwin

Journal of Contemporary Archival Studies

Professional literature and case studies demonstrate that processing metrics are valuable in advocating for resources, informing priorities, supporting grant proposals, and predicting costs for collection storage and care. This article analyzes responses to an archival processing metrics survey that gathered perspectives and practices from archivists working in a variety of repository types. The findings describe how archivists collect processing metrics in different ways, what data points they view as essential, and how they use certain data points to serve specific purposes. The findings indicate that although most respondents acknowledge the value of processing metrics, the majority of them still do …

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Lessons Learned: Lorie Logan, Mercedes Cardona Oct 2020

Lessons Learned: Lorie Logan, Mercedes Cardona

Journal of Financial Crises

Lorie Logan is executive vice president in the Markets Group of the Federal Reserve Bank of New York, the System Open Market Account (SOMA) manager pro tem for the Federal Open Market Committee (FOMC), and head of Market Operations, Monitoring, and Analysis (MOMA).

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Lessons Learned: Donald Kohn, Maryann Haggerty Oct 2020

Lessons Learned: Donald Kohn, Maryann Haggerty

Journal of Financial Crises

Kohn, an economist, is a 40-year veteran of the Federal Reserve System. He served as a member of the Board of Governors, and was vice chair, from 2002-2010, which included the years of the global financial crisis (GFC).

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The United Kingdom's Asset-Backed Securities Guarantee Scheme (U.K. Gfc), June Rhee Oct 2020

The United Kingdom's Asset-Backed Securities Guarantee Scheme (U.K. Gfc), June Rhee

Journal of Financial Crises

The key structures of housing finance in the UK in the years leading up to the global financial crisis of 2007-09 consisted of retail deposits, secondary market funding and wholesale interbank lending. Although retail deposits were the major funder of UK mortgages, secondary market funding, which included covered bonds and residential mortgage-backed securities (RMBS), accounted for 31% of UK mortgage lending in 2006. In 2007, the collapse of the U.S. subprime mortgage market triggered a financial shock, and the shock quickly traveled beyond national borders. Regardless of differences in the UK mortgage market, investors’ concern over the prospects of the …

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The United Kingdom's Credit Guarantee Scheme (U.K. Gfc), Christian M. Mcnamara Oct 2020

The United Kingdom's Credit Guarantee Scheme (U.K. Gfc), Christian M. Mcnamara

Journal of Financial Crises

The September 15, 2008, bankruptcy of Lehman Brothers resulted in a collapse of wholesale funding markets that threatened the ability of UK financial institutions to continue funding themselves. By the end of the month, two leading UK banks—HBOS and Bradford & Bingley—had to be rescued, and there was a real risk that the entire financial system could collapse. Faced with the need to stabilize the system, UK regulators on October 8 introduced a package of measures that included a £250 billion Credit Guarantee Scheme (the Guarantee Scheme) aimed at providing banks with access to needed funding. Under the Guarantee Scheme, …

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Sweden's Guarantee Scheme (Sweden Gfc), Lily S. Engbith, Kevin Kiernan Oct 2020

Sweden's Guarantee Scheme (Sweden Gfc), Lily S. Engbith, Kevin Kiernan

Journal of Financial Crises

Although Sweden was not as directly impacted by the Global Financial Crisis as some other economies, Lehman Brothers’ bankruptcy on September 15, 2008, prompted Swedish authorities to take preemptive measures to protect domestic banks and financial institutions. One such program, announced on October 20, 2008, and implemented on October 29, 2008, was designed to preserve credit extension to businesses and households through what became known as the Swedish Guarantee Scheme. Per the terms of the Scheme, new short- and medium-term debt of maturities ranging from 90 days to five years issued by eligible banks would be guaranteed by the Swedish …

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The Spanish Guarantee Scheme For Credit Institutions (Spain Gfc), Lily Engbith Oct 2020

The Spanish Guarantee Scheme For Credit Institutions (Spain Gfc), Lily Engbith

Journal of Financial Crises

Given Spanish banks’ heavy investment in the housing and construction markets in the lead-up to the global financial crisis (GFC), the collapse of the subprime mortgage market and Lehman Brothers’ bankruptcy on September 15, 2008, impelled the government to implement stabilization measures to calm, recapitalize, and restructure its domestic banking sector. The Spanish Guarantee Scheme for Credit Institutions (the Guarantee Scheme) was one of the first interventions to be enacted, announced by Spain’s Ministry of Economy and Finance on October 13, 2008, by Royal Decree-Law 7/2008 on “Urgent Economic and Financial Measures in relation to the Concerted Action Plan of …

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The Portuguese Guarantee Scheme (Portugal Gfc), Julia A. Arnous Oct 2020

The Portuguese Guarantee Scheme (Portugal Gfc), Julia A. Arnous

Journal of Financial Crises

By October 2008, Portuguese banks’ access to liquidity was severely restricted due to strains in international wholesale markets. On October 12-13, 2008, the Portuguese government notified the European Commission of a guarantee scheme intended to promote solvent credit institutions’ access to liquidity as part of the European policy response to the acute financial crisis aiming to achieve and maintain financial stability. Under the scheme, the Portuguese government guaranteed financing agreements and banks’ issuance of non-subordinated short- and medium-term debt. To obtain a guarantee under the Scheme, banks paid a fee based on the maturity of the debt and a risk …

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The Polish Guarantee Scheme (Poland Gfc), Manuel Leon Hoyos Oct 2020

The Polish Guarantee Scheme (Poland Gfc), Manuel Leon Hoyos

Journal of Financial Crises

Faced with the global financial crisis of 2007–2009, Poland implemented a scheme of State support for financial institutions. In view of a potential global credit crunch, it aimed at improving short- and medium-term liquidity of domestic financial institutions. The scheme came into force on March 13, 2009, and was approved by the European Commission under European Union State Aid rules on September 25, 2009. The scheme enabled the Ministry of Finance, on behalf of the State Treasury, to provide support in the form of Treasury guarantees on newly issued bank debt and the exchange of Treasury bonds for less liquid …

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The Dutch Credit Guarantee Scheme (Netherlands Gfc), Lily Engbith Oct 2020

The Dutch Credit Guarantee Scheme (Netherlands Gfc), Lily Engbith

Journal of Financial Crises

As fallout from the global financial crisis intensified in October 2008, governments around the world sought to implement stabilization measures in order to calm and protect their domestic markets. While not directly exposed to the subprime mortgage crisis, the Kingdom of the Netherlands announced the creation of the Dutch Credit Guarantee Scheme (the Guarantee Scheme) on October 13, 2008, to boost confidence in interbank lending markets and to ensure the flow of credit to Dutch households and companies. In establishing this program, the Dutch State Treasury Agency of the Ministry of Finance (DSTA) committed €200 billion to support the issuance …

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The State Guarantee Of External Debt Of Korean Banks (South Korea Gfc), Lily S. Engbith Oct 2020

The State Guarantee Of External Debt Of Korean Banks (South Korea Gfc), Lily S. Engbith

Journal of Financial Crises

Following the Lehman Brothers bankruptcy of September 15, 2008, a number of foreign governments enacted stabilization measures in order to bolster their currencies and inject much-needed liquidity into domestic markets. As part of its effort, the Korean Ministry of Strategy and Finance announced a series of government interventions that included a three-year guarantee of foreign debt issued (including extensions of maturity) by domestic banks between October 20, 2008, and June 30, 2009. This opt-in program was introduced as a preemptive step in ensuring that Korean financial institutions would retain competitive access to external funding in the wake of the global …

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Ireland's Credit Institutions (Eligible Liabilities Guarantee) Scheme (Ireland Gfc), Claire Simon Oct 2020

Ireland's Credit Institutions (Eligible Liabilities Guarantee) Scheme (Ireland Gfc), Claire Simon

Journal of Financial Crises

Following the failure of Lehman Brothers in September 2008, Irish banks found themselves unable to roll over their significant foreign borrowings on the interbank lending market. With the banks facing a liquidity crisis, the Irish government decided to issue a blanket guarantee of all liabilities of six banks through the Credit Institutions Financial Support Scheme (CIFS). As the crisis worsened, and it became clear that Irish banks were facing a solvency—not just liquidity—crisis, the Irish government was forced to provide additional support to the financial system, which took the form of capital injections and a national asset management company for …

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The Italian Guarantee Scheme (Italy Gfc), Lily Engbith Oct 2020

The Italian Guarantee Scheme (Italy Gfc), Lily Engbith

Journal of Financial Crises

The collapse of Lehman Brothers on September 15, 2008, and its severe impact on global credit markets impelled governments around the world to enact stabilization measures to calm and protect their domestic economies. The Italian Republic, while not directly affected by the US subprime mortgage crisis, preemptively implemented emergency procedures and programs to ensure the stability of their banking system. Announced with the passage of Decree-Law No. 157 on October 13, 2008, and legally enforced under Law 190/2008 of December 4, 2008, the Italian Guarantee Scheme (the Guarantee Scheme) was aimed at protecting institutions whose interbank lending abilities had the …

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The Hungarian Guarantee Scheme (Hungary Gfc), Alec Buchholtz Oct 2020

The Hungarian Guarantee Scheme (Hungary Gfc), Alec Buchholtz

Journal of Financial Crises

In the midst of the global financial crisis, in October 2008, the Magyar Nemzeti Bank (MNB), the Hungarian national bank, noticed a selloff of government securities by foreign banks and a large depreciation in the exchange rate of the Hungarian forint (HUF) in foreign exchange (FX) markets. Hungarian banks experienced liquidity pressures due to margin calls on FX swap contracts, prompting the MNB and Minister of Finance to seek assistance from the International Monetary Fund (IMF), the European Central Bank (ECB) and the World Bank. The IMF and ECB approved Hungary’s requests in late 2008 to create a €20 billion …

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The Greek Credit Guarantee Scheme (Greece Gfc), Daniel Thompson Oct 2020

The Greek Credit Guarantee Scheme (Greece Gfc), Daniel Thompson

Journal of Financial Crises

Beginning in 2008, many Greek banks began to face liquidity strains and capital problems as a result of the global financial crisis. In October 2008, Eurozone leaders released a declaration requiring all participating nations to ensure adequate liquidity, facilitate ease of funding, and recapitalize banks. On November 7, 2008, the Greek Ministry of Economy and Finance submitted a draft law, Law 3723, to the European Commission to fulfill the above directives through the Bank of Greece (BOG). While Law 3723 consisted of three main “pillars,” the focus for this case is pillar II, the credit guarantee scheme, otherwise known as …

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French Liquidity Support Through The Société De Financement De L’Economie (Sfef) (France Gfc), Everest Fang Oct 2020

French Liquidity Support Through The Société De Financement De L’Economie (Sfef) (France Gfc), Everest Fang

Journal of Financial Crises

After the collapse of the Lehman Brothers in September 2008, financial panic and uncertainty intensified in Europe. In France, banks faced a widespread confidence crisis driven by fear that they were exposed to the US subprime market. In response, on October 13, 2008, the French government passed the “loi de finances rectificative pour le financement de I'économie.” This provided for the establishment of the Société de Financement de l’Economie Française (SFEF), a special purpose vehicle (SPV) jointly owned by the State and a group of banks and responsible for refinancing major French credit institutions. The SFEF raised funds on the …

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The Guarantee Scheme For Bank Funding In Finland (Finland Gfc), Lily Engbith Oct 2020

The Guarantee Scheme For Bank Funding In Finland (Finland Gfc), Lily Engbith

Journal of Financial Crises

As the global financial crisis raged in October 2008, its severe impact on global credit markets impelled governments to enact stabilization measures to calm and protect their domestic economies. The Republic of Finland, though not directly affected, designed preemptive interventions to mitigate disruption to its financial system. Among them was the Guarantee Scheme for Bank Funding in Finland (the Guarantee Scheme), announced on October 22, 2008, and implemented on February 12, 2009, which aimed to support banks and mortgage institutions with their short- and medium-term financing needs. Under the program, the Finnish State Treasury made up to €50 billion available …

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Denmark's Guarantee Scheme (Denmark Gfc), Keni Sabath Oct 2020

Denmark's Guarantee Scheme (Denmark Gfc), Keni Sabath

Journal of Financial Crises

The international financial system had been experiencing challenges for almost a year before the crisis truly manifested in Denmark during the Summer of 2008 with the sudden demise of Roskilde Bank, Denmark’s eighth largest bank. As more Danish banks became distressed in the fall of 2008 after the collapse of Lehman Brothers, the government determined that it was necessary to intervene in the banking sector through actions such as taking over and winding up distressed banks, giving guarantees to back up the sector, and providing capital injections and liquidity support. This paper focuses on the two different types of guarantee …

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The Canadian Lenders Assurance Facility (Canada Gfc), Claire Simon Oct 2020

The Canadian Lenders Assurance Facility (Canada Gfc), Claire Simon

Journal of Financial Crises

Following a meeting of Group of Seven leaders in October 2008, the Canadian Minister of Finance announced the creation of a new Canadian Lenders Assurance Facility (CLAF). The facility enabled federally regulated deposit-taking financial institutions to access government insurance of up to three years on newly issued senior unsecured wholesale debt. This mirrored similar programs in other countries to ensure that Canadian financial institutions were not competitively disadvantaged in the wholesale debt market at a time when most developed countries were guaranteeing their banks’ debt. This competitive disadvantage never materialized, and the facility was allowed to expire on December 31, …

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The Belgian Credit Guarantee Scheme (Belgium Gfc), Aidan Lawson Oct 2020

The Belgian Credit Guarantee Scheme (Belgium Gfc), Aidan Lawson

Journal of Financial Crises

Much like other developed economies during the global financial crisis, Belgium faced substantial systemic stress to its large and heavily concentrated financial system. To combat these mounting pressures, the Belgian government launched a wide-ranging, opt-in state debt guarantee program in a concerted effort to instill confidence and stymie the fear of runs in its financial sector. The debt guarantee scheme, pursuant to which eligible institutions could issue government-guaranteed debt, was originally put into place on October 15, 2008, and retroactively covered liabilities entered into from October 9, 2008, to October 31, 2009, with a maximum maturity of three years. It …

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Austria's Oesterreichische Clearingbank Ag (Oecag) (Austria Gfc), Claire Simon Oct 2020

Austria's Oesterreichische Clearingbank Ag (Oecag) (Austria Gfc), Claire Simon

Journal of Financial Crises

In October 2008, euro-area countries adopted a joint framework to guide national policies combatting the effects of the global financial crisis. In Austria, this led to the enactment of a number of measures and amendments, including the Interbank Market Support Act (Interbankmarktstärkungsgesetz, or IBSG). IBSG called for the establishment of a new clearing bank to facilitate interbank lending. It also permitted the Minister of Finance to guarantee up to €5 billion of short-term securities issued by the clearing bank and to absorb losses of the clearing bank up to €4 billion. The clearing bank, Oesterreichische Clearingbank AG (OeCAG), was owned …

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Austria's Ibsg Guarantee Program (Austria Gfc), Claire Simon Oct 2020

Austria's Ibsg Guarantee Program (Austria Gfc), Claire Simon

Journal of Financial Crises

Following the adoption of a joint framework by euro-area countries in response to the intensifying financial crisis in October 2008, Austria enacted a package of measures including the Interbank Market Support Act (Interbankmarktstärkungsgesetz, "IBSG"). In addition to calling for the establishment of a new clearing bank to facilitate interbank lending, IBSG permitted the Austrian government to guarantee debt securities issued by other eligible institutions. Securities issued by eligible institutions with a maturity of three years or less (five years in exceptional circumstances) were eligible for guarantee. According to IBSG, the amount outstanding for all measures taken under the act could …

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