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Full-Text Articles in Public Affairs, Public Policy and Public Administration

Latvia: Parex Bank Emergency Liquidity Program, 2008, Bailey Decker Apr 2025

Latvia: Parex Bank Emergency Liquidity Program, 2008, Bailey Decker

Journal of Financial Crises

Heading into the Global Financial Crisis, JSC Parex banka was Latvia’s second-largest bank in terms of assets, comprising 13.8% of total assets in the Latvian banking sector. In autumn 2008, Parex faced a capital shortfall owing to massive credit and market losses in addition to liquidity problems and deposit runs of 240 million Latvian lats (LVL; USD 428.6 million). Parex had two senior syndicated loans maturing in February and June 2009, totaling EUR 775 million (USD 992 million). Latvian authorities said they doubted that Parex would be able to pay back, extend, or replace these loans. Authorities intervened at the …


Italy: Banco Ambrosiano Emergency Liquidity Program, 1982, Kopal Ardimento Apr 2025

Italy: Banco Ambrosiano Emergency Liquidity Program, 1982, Kopal Ardimento

Journal of Financial Crises

On June 14, 1982, prompted by the disappearance of Banco Ambrosiano (BA) CEO Roberto Calvi, the Bank of Italy opened an investigation into BA, which revealed to the market BA’s 1.9 trillion–2.2 trillion Italian lire (ITL; USD 1.4 billion–USD 1.6 billion) in questionable foreign loans. The Treasury Ministry deemed intervention necessary because BA’s collapse would compromise the credibility of the Italian banking system abroad. Attempts to appeal to the Vatican Bank to honor guarantees it had made against these foreign loans failed. The Bank of Italy worried that runs on deposits would further impair BA while authorities explored alternatives to …


Ireland: Anglo Irish Bank Emergency Liquidity Assistance, 2009, Salil Gupta, Mahdi Khairallah, Nik Adlina Nik Moktar Apr 2025

Ireland: Anglo Irish Bank Emergency Liquidity Assistance, 2009, Salil Gupta, Mahdi Khairallah, Nik Adlina Nik Moktar

Journal of Financial Crises

At the height of the Global Financial Crisis in September 2008, Anglo Irish Bank (Anglo), one of Ireland’s six core banks, specializing in commercial and residential real estate with EUR 101.3 billion in assets, faced severe losses. Irish authorities announced a blanket deposit and liability guarantee for the six banks including Anglo. At the same time, Anglo was offered standby liquidity facilities of EUR 3 billion from the Central Bank of Ireland (CBI) and EUR 10 billion from the two largest Irish commercial banks, which were not drawn on at the time. Anglo was nationalized in January 2009, as deposit …


Indonesia: Bank Century Emergency Liquidity Program, 2008, Vincient Arnold Apr 2025

Indonesia: Bank Century Emergency Liquidity Program, 2008, Vincient Arnold

Journal of Financial Crises

By the autumn of 2008, the effects of the Global Financial Crisis of 2007–2009 had struck Indonesia, as liquidity in interbank markets dried up, capital flows reversed, and economic growth slowed. On October 30, 2008, Bank Indonesia—the central bank of Indonesia—passed Regulation No. 10/26/PBI/2008, establishing a Short-Term Funding Facility for Commercial Banks (SFF). On October 31, 2008, the capital adequacy ratio of Bank Century, a relatively small Indonesian bank, was –3.35%. On November 14, 2008, after Bank Century failed to conduct payment clearing the day before, Bank Indonesia approved Bank Century for access to the SFF and began disbursements of …


Iceland: Kaupthing Emergency Liquidity Program, 2008, Sophia Alden, Léo Brougher Apr 2025

Iceland: Kaupthing Emergency Liquidity Program, 2008, Sophia Alden, Léo Brougher

Journal of Financial Crises

Following the privatization of Iceland’s state-owned banks between 1998 and 2003, the three largest banks in Iceland—Glitnir, Landsbanki, and Kaupthing—grew rapidly, with consolidated assets increasing from 100% of Iceland’s GDP in 2004 to nearly 900% by the end of 2007. Initially, this growth was funded by debt issuances in the European medium-term note market; however, as cracks in the international financial system appeared in 2006, the banks turned to offering high-interest savings accounts through their foreign subsidiaries. Beginning in October 2006, Kaupthing launched “Kaupthing Edge,” an online savings and deposit platform operating in markets outside Iceland. When the United States …


Germany: Ikb Deutsche Industriebank Emergency Liquidity Program, 2008, Ayodeji George, Sophia Alden Apr 2025

Germany: Ikb Deutsche Industriebank Emergency Liquidity Program, 2008, Ayodeji George, Sophia Alden

Journal of Financial Crises

In the summer of 2007, IKB Deutsche Industriebank (IKB) faced heavy losses owing to the liquidity support it had provided on commercial paper issued by Rhineland Funding Capital Corporation, its off-balance-sheet vehicle, which held distressed collateralized debt obligations backed by US subprime mortgages. In July 2007, authorities became aware that IKB itself had lost access to liquidity from Deutsche Bank and other funding partners. Publicly owned development bank Kreditanstalt für Wiederaufbau (KfW) held a 38% stake in IKB, exposing it to potentially heavy losses in the event of an IKB failure. KfW, German financial authorities, and German banks pursued a …


Denmark: Roskilde Bank Emergency Liquidity Program, 2008, Bailey Decker Apr 2025

Denmark: Roskilde Bank Emergency Liquidity Program, 2008, Bailey Decker

Journal of Financial Crises

Roskilde Bank A/S (Roskilde) was the eighth-largest bank in Denmark at the time of the Global Financial Crisis, with approximately 43 billion Danish kroner (DKK; USD 9.1 billion) in consolidated assets as of March 2008. Roskilde had considerable exposure to real estate and construction firms, prompting ratings downgrades and larger write-downs than expected in July 2008. On July 10, 2008, Roskilde asked for liquidity assistance from the Danish central bank, Danmarks Nationalbank (DNB). Later that day, DNB and the banking sector’s self-insurance group, the Private Contingency Association (PCA), announced emergency liquidity assistance to Roskilde in the form of an unlimited …


Cyprus: Laiki Bank Ad Hoc Emergency Liquidity Assistance, 2011, Stella Schaefer-Brown Apr 2025

Cyprus: Laiki Bank Ad Hoc Emergency Liquidity Assistance, 2011, Stella Schaefer-Brown

Journal of Financial Crises

Following the European Union’s decision to restructure Greek debt in October 2011, Laiki Bank’s depositors began to withdraw their funds from the bank in growing numbers after it reported that its portfolio of Greek government bonds had lost EUR 2.3 billion in value. Beginning October 2011 and lasting until the bank’s resolution in 2013, Laiki Bank requested and received emergency liquidity assistance (ELA) from the Central Bank of Cyprus (CBC) so that the bank could continue to fund itself as depositors withdrew their funds. In June 2012, Cypriot authorities recapitalized Laiki Bank, and the government became an 84% shareholder. From …


Canada: Canadian Commercial Bank Emergency Liquidity Program, 1985, Adam Keanie, Léo Brougher Apr 2025

Canada: Canadian Commercial Bank Emergency Liquidity Program, 1985, Adam Keanie, Léo Brougher

Journal of Financial Crises

In March 1985, the Canadian Commercial Bank (CCB)—Canada’s 10th largest bank, with CAD 2.9 billion in assets—reported to the Office of the Inspector General of Banks (OIGB) and the Bank of Canada (BoC) that CCB would not survive owing to large losses on its United States energy loans portfolio. In response, the BoC assembled an emergency CAD 255 million rescue package, secured through contributions from a consortium composed of the federal government, the provincial government of Alberta, the Canadian Deposit Insurance Corporation, and Canada’s six largest banks. Despite the BoC’s reassurances, including a public announcement promising virtually unlimited liquidity support, …


Ad Hoc Emergency Liquidity Programs In The 21st Century, Steven Kelly, Vincient Arnold, Greg Feldberg, Andrew Metrick Apr 2025

Ad Hoc Emergency Liquidity Programs In The 21st Century, Steven Kelly, Vincient Arnold, Greg Feldberg, Andrew Metrick

Journal of Financial Crises

This paper surveys 22 case studies of 21st century instances when financial crisis-fighters implemented ad hoc emergency liquidity (AHEL) interventions, interventions designed to provide liquidity to a troubled institution that the authorities believe is systemically important. While emergency liquidity support is often introduced with the real or communicated intention of preventing illiquidity from leading to insolvency, the liquidity crisis should instead be viewed as the manifestation of the market’s assessing the firm as nonviable as a going concern. For that reason, authorities should provide AHEL assistance only to institutions that they have deemed viable or that they have committed to …


Brazil: Banco Btg Pactual Emergency Liquidity Program, 2015, Vincient Arnold Apr 2025

Brazil: Banco Btg Pactual Emergency Liquidity Program, 2015, Vincient Arnold

Journal of Financial Crises

On November 25, 2015, André Esteves, then CEO of Banco BTG Pactual, a large Brazilian investment bank, was arrested by Brazilian authorities in connection with suspected involvement in a corruption scandal. Although the arrest did not involve BTG in any capacity and Esteves was later acquitted, the company’s stock quickly collapsed and depositors and other creditors rushed to reduce their exposures to the company. Depositors withdrew certificates of bank deposits, which BTG relied on to fund its daily operations. By November 27, BTG shares had fallen 26%. On December 2, the top seven shareholders of BTG took control of the …


New Zealand Security Agencies’ Secrecy, Accountability, And Transparency In The Modern Era, Ben Amata Apr 2025

New Zealand Security Agencies’ Secrecy, Accountability, And Transparency In The Modern Era, Ben Amata

Secrecy and Society

New Zealand’s security agencies need to balance conflicting missions of secrecy, accountability, and transparency in conducting national security government operations. Citizens expect protection without violating their liberties and for security agencies to act effectively and legally. From public revelations about the agencies and government reform efforts, the agencies evolved from almost total secrecy to greater accountability and transparency since World War II. This study employs a historical methodology, which examines primary source documents to reveal the history of secret behavior and to reform the New Zealand Security Intelligence Service and the Government Communications Security Bureau.


It’S Time For A Change: A Proposal To Abolish Solitary Confinement From Canadian Prisons, Amy Rico Apr 2025

It’S Time For A Change: A Proposal To Abolish Solitary Confinement From Canadian Prisons, Amy Rico

Bridges: An Undergraduate Journal of Contemporary Connections

Despite Canada’s reputation for being a leader in human rights, its treatment of prisoners requires a closer examination. In particular, prisoner and human rights advocates have widely criticized the use of solitary confinement in Canadian federal and provincial prisons as a form of torture. Solitary confinement imposes excruciating and demeaning conditions on prisoners, jeopardizing their mental and physical welfare. Following court decisions deeming solitary confinement unconstitutional, the federal government replaced the formal use of solitary confinement with structured intervention units. However, these units continue to be a reformulated version of the original practice, sustaining the torturous conditions subjected to inmates. …


Build Public Renewables, Again, Sandeep Vaheesan Apr 2025

Build Public Renewables, Again, Sandeep Vaheesan

Michigan Law Review

A review of The Price Is Wrong: Why Capitalism Won’t Save the Planet. By Brett Christophers.


Supreme Court Gives States The Green Light To Go Ham: The Dormant Commerce Clause In Renewable Energy In Light Of National Pork Producers, Ellie Carl Apr 2025

Supreme Court Gives States The Green Light To Go Ham: The Dormant Commerce Clause In Renewable Energy In Light Of National Pork Producers, Ellie Carl

Michigan Journal of Environmental & Administrative Law

Two years ago, the Supreme Court slaughtered the Dormant Commerce Clause in its decision in National Pork Producers v. Ross. While the case is not explicitly about environmental law, it significantly affects environmental laws and policies, especially pertaining to state renewable portfolio standards. These state policies are especially prone to Dormant Commerce Clause litigation, given the interstate nature of electric grids. This paper argues that the scope of the Dormant Commerce Clause in light of this decision is appropriate for ensuring that states have adequate wiggle room in renewable energy regulation, but not an excessive amount of leeway so …


Does Name, Image, And Likeness Increase Gender Inequality In College Athletics?, Aimee Christenson Apr 2025

Does Name, Image, And Likeness Increase Gender Inequality In College Athletics?, Aimee Christenson

Political Science Theses and Capstones

In June of 2021, the National Collegiate Athletic Association adopted its first interim policy regarding Name, Image, and Likeness. From here, college athletes have been able to benefit from opportunities regarding their brand as an athlete. While this development has been historic in its expansion of rights to athletes, it highlights the inequities between male and female athletes. Title IX requires equal opportunity for male and female students. This research raises questions about whether NIL is increasing the disparity between male and female athletes. To answer this question, I looked at NIL data collected by Kyle Ems on the NIL …


Beyond The Suburban Ideal: Addressing Southern California’S Strained Affordable Housing Market Through Density Bonus Programs, Alissa Larue Apr 2025

Beyond The Suburban Ideal: Addressing Southern California’S Strained Affordable Housing Market Through Density Bonus Programs, Alissa Larue

School of Public Policy Capstones

This study examines how expanding Accessory Dwelling Units (ADUs) could serve as an effective policy solution to address the housing affordability crisis. In San Diego, a Bonus Program has been implemented to incentivize the construction of affordable ADUs by relaxing burdensome regulations. A Differences-in-Differences approach using two-way fixed effects is employed to evaluate the program's effectiveness in promoting ADU development, using city-level data from San Diego and Los Angeles counties. ADU permit applications serve as a key indicator of policy impact. The findings strongly suggest that the Bonus Program influenced increasing ADU permit applications in San Diego. Because the model …


Deportation And Immigration Enforcement In The United States: Analysis Of Regional And Country Variations, Exmond Ofori Sarpiah Apr 2025

Deportation And Immigration Enforcement In The United States: Analysis Of Regional And Country Variations, Exmond Ofori Sarpiah

Political Science Theses and Capstones

This study examines the motivations behind President Trump’s mass deportation policies due to the inflow of undocumented migrants from different regions in America. The study employs data visualization techniques, such as scatter plot and bar charts, to analyze regional and country variation trends in migrant removals and undocumented populations across global regions.


Campaign Finance Reform At The State Level, Darren Borsini Apr 2025

Campaign Finance Reform At The State Level, Darren Borsini

School of Public Policy Capstones

Should restrictions on campaign financing in the United States be laissez-faire or stringent? This debate has been had at levels as high as the Supreme Court and as wide as the legislative chambers of all fifty states. This paper aims to create a broader understanding of campaign finance reform at the state level. Specifically, this paper analyzes state-level data on campaign finance reform adoption, educational attainment, and partisan lean to determine the strength of correlations between these variables. Additionally, this paper utilizes expert knowledge gained through interviews focused on campaign finance reform with a former FPPC chair and a California …


Drawing Lines In The Sand: Armed Conflict, Climate Damage And Setbacks To Climate Action, Beatrice L. Hamilton Apr 2025

Drawing Lines In The Sand: Armed Conflict, Climate Damage And Setbacks To Climate Action, Beatrice L. Hamilton

Michigan Journal of Environmental & Administrative Law

Armed conflicts have a significant and detrimental effect on the climate system, with considerable implications for efforts to mitigate and adapt to climate change and the civilian population. Yet the environmental provisions under the law of armed conflict (LOAC), drafted some half a century ago, struggle to adequately address these concerns. This article assesses the capacity of LOAC to address conflict-driven climate damage and its cascading impacts by characterizing these harms as environmental damage and as injury to civilians. The analysis highlights opportunities for broadening LOA C's scope and offers recommendations to enhance its capacity to address climate damage and …


Holding Ground In The Cerulean Tide: Minority Party Legislators' Strategies For Advancing Climate Policies In Landslide States, Sukjae Lee Apr 2025

Holding Ground In The Cerulean Tide: Minority Party Legislators' Strategies For Advancing Climate Policies In Landslide States, Sukjae Lee

Dissertations and Doctoral Documents, University of Nebraska-Lincoln, 2023–

This dissertation addresses a key puzzle: Why do states sometimes adopt nationally polarized policies, such as climate change legislation, even when doing so does not align with strict partisan interests? The analysis focuses on “landslide states,” where a single party overwhelmingly dominates, and the minority party cannot realistically expect to gain a majority. In these environments, reduced partisan conflict allows minority party legislators to break from traditional partisan paths. As a result, I argue that electoral motivations drive them to signal moderation by advancing liberal policy agendas or incorporating provisions that minimize backlash from their core constituents in landslide states. …


How Do School-Level Dynamics Impact Mainstreaming Practices In American Schools?, Natalie M. Watson Apr 2025

How Do School-Level Dynamics Impact Mainstreaming Practices In American Schools?, Natalie M. Watson

Department of Sociology: Dissertations, Theses, and Student Research

How do school-level dynamics impact the everyday experiences of students with disabilities, compared to their abled peers? Extant research has mostly focused on the experiences of individual students with disabilities, and their teachers. We know far less about how school-level dynamics shape students’ experiences. Historically, American schools formally separated students with and without disabilities, though the specific mode varied over time -- ranging from explicit institutionalization to segregation in special education programs. At least since the passage of the Americans with Disabilities Act in 1990, efforts to educate students with disabilities alongside their abled peers in mainstreamed settings have increased …


The Role Of Affordable Housing In Enhancing Tenants' Economic Stability In Connecticut: A Focus On Income, Employment, And Housing Stability, Osaid Zubi Apr 2025

The Role Of Affordable Housing In Enhancing Tenants' Economic Stability In Connecticut: A Focus On Income, Employment, And Housing Stability, Osaid Zubi

Dissertations

This study examined the role of affordable housing in promoting economic stability among low- and moderate-income households in Connecticut. Focusing on income security, employment opportunities, and housing retention, this research highlighted the significance of affordable housing as a means to alleviate financial strain, support job retention, and foster community resilience. Utilizing a phenomenological approach, the study gathered insights from tenants, policymakers, and developers through conducting interviews and a focus group. Connecticut was chosen as the study site due to its high cost of living and affordable housing shortage, exacerbated by its proximity to New York City. Findings underscore the economic …


From Flames To Change: An Exploration Of Housing, Fire, And Inequity, Helen Underhill, Charles R. Jennings, Brian Meacham, Danielle Antonellis Apr 2025

From Flames To Change: An Exploration Of Housing, Fire, And Inequity, Helen Underhill, Charles R. Jennings, Brian Meacham, Danielle Antonellis

Publications and Research

Housing and fire safety are deeply connected: inadequate and poorly maintained housing poses heightened fire risk for occupants. An individual or household’s housing situation (including limited or constrained choice) interacts with issues such as affordability, access, location, quality, safety, occupancy levels, tenure type, and resident or immigration status. These dynamics shape vulnerability, and inequity becomes most visible in the event of a fire. The extreme end of this spectrum includes the unhoused, who occupy structures entirely outside of regulatory systems with little or no fire protection.


Key Factors That Influence The Successful Implementation And Sustainment Of Dei Within Probation Departments, Natalie Martinez Apr 2025

Key Factors That Influence The Successful Implementation And Sustainment Of Dei Within Probation Departments, Natalie Martinez

Master of Public Administration Capstone Papers

The successful implementation and sustainment of Diversity, Equity, and Inclusion (DEI) initiatives within probation departments is essential to create a fair and just criminal justice system. This paper examines the principal elements that impact the implementation and sustainability of DEI practices in probation settings. This research identifies best practices and challenges in integrating DEI principles into organizational structures by analyzing existing literature, case studies, and policy frameworks. The findings highlight the importance of leadership commitment, policy integration, and measurement, as well as an environment that fosters an inclusive culture. Additionally, the study examines barriers such as resistance to change, policy …


Delta-8 Tetrahydrocannabinol Policy And Related Health Impact Among College-Aged Individuals In South Carolina: A Scoping Review, Emily K. Luoma Apr 2025

Delta-8 Tetrahydrocannabinol Policy And Related Health Impact Among College-Aged Individuals In South Carolina: A Scoping Review, Emily K. Luoma

Senior Theses

After the 2018 Farm Bill passed, loopholes were quickly found that led to the popularization of delta-8 THC, a derivative of delta-9 THC, more commonly known as marijuana. Use of this substance became particularly high in states that criminalized marijuana, such as South Carolina. This scoping review aimed to assess South Carolina’s current delta-8 policies in the context of health-related impacts among college-aged students. Comprehensively analyzing the results of relevant studies, it was determined that there are three commonly observed threats to public health that are direct outcomes of existing policies: 1) a lack of quality control standards; 2) misleading …


How Seeing Rural America As A Commons Can (Re)Build Mutual Respect Across The Rural-Urban Divide, Lisa R. Pruitt Apr 2025

How Seeing Rural America As A Commons Can (Re)Build Mutual Respect Across The Rural-Urban Divide, Lisa R. Pruitt

West Virginia Law Review

This Essay, written for a symposium that honors and amplifies Ann Eisenberg’s 2024 book, Reviving Rural America: Toward Policies for Resilience, contemplates benefits that could flow from taking seriously Eisenberg’s conceptualization of rural America as a commons. In particular, I argue that the mutual respect and collaboration necessary for a successful commons could help heal the rural-urban rift, which has widened dramatically in the last few decades. Recent studies suggest that rural residents have what scholars call a rural consciousnesses, which means that living in a rural place is a key aspect of their identity. One feature of this identity …


Deference Or Preference: Analyzing The Treatment Of Chevron U.S.A., Inc. V. Nrdc As A Precedent At The Supreme Court, Allison Dehart Apr 2025

Deference Or Preference: Analyzing The Treatment Of Chevron U.S.A., Inc. V. Nrdc As A Precedent At The Supreme Court, Allison Dehart

Senior Theses

Chevron U.S.A., Inc. v. Natural Resources Defense Council, Inc. is one of the most cited Supreme Court cases in history, with over 18,000 citations in federal courts alone (Merrill, 2012). It has reached doctrinal status and was widely considered a vital precedent, one that guided the fields of environmental and administrative law. However, in June of 2024, the Supreme Court released their opinion in Loper Bright Enterprises v. Raimondo, which overturned Chevron. With the ubiquity of Chevron in US Courts, this decision caused widespread confusion and worry over what would replace the precedent. In an era where environmental …


Review Of In A Human Voice, Jean Keller Mar 2025

Review Of In A Human Voice, Jean Keller

The Journal of Social Encounters

No abstract provided.


Katharine Drexel And The Sisters Who Shared Her Vision, Annie Huey Mar 2025

Katharine Drexel And The Sisters Who Shared Her Vision, Annie Huey

The Journal of Social Encounters

No abstract provided.