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The textbook contains a systematic presentation of the main institutions of banking law in accordance with the academic discipline "Banking Law", taught at the Department of Banking Law of the Moscow State Law University named after O. E. Kutafin (MSLA). It examines the banking system of the Russian Federation and its structure; the features of credit institutions as subjects of banking law; the legal basis of the national payment system, its relationship with the banking system of Russia; the legal regulation of the deposit insurance system; legislation on bank accounts; the main types of bank loans; currency transactions carried out with the participation of authorized banks, and operations of credit institutions in the securities market. Attention is paid to the ratio of electronic money with electronic means of payment, the mechanism of non-cash payments and the procedure for implementing the institute of payment clearing. The proposed diagrams and tables facilitate the assimilation of the most difficult questions.

This book chronicles the history of radio as technology and as media. Radio grew from a clumsy, temperamental form of wireless telegraph to a system that is so ubiquitous and easy to use that it has disappeared to users as a technology and became part of the fabric of human existence. This biography charts the growth of the technical end of radio, starting with the history of electricity, and moving through the invention of vacuum tubes, the heterodyne, FM, transistors, and microchips. But the history of radio is not just wires and electricity—it's the story of strange characters, deep thinkers, visionary mystics, hyperactive minds, ambitious souls, power hungry demagogues, and utopian humanists; all of whom strove to make radio into what they thought it should be. In addition,Radio: The Life Story of a Technologylooks at the technology as a cultural phenomenon, including the corporate aspects and history of the business of radio. In the middle of the 20th century people saw that radio could be used as an agent of social change, both good and bad. The transition of radio from private corporate device to public news provider to entertainment box back to political tool is at the heart of this work.

An in-depth look at the rise of enigmatic Australian rock band TISM, the unexpected success of their 1995 album,Machiavelli and the Four Seasons, and the continued trajectory of their storied career. Focusing on one of Australia’s most enigmatic bands, This Is Serious Mum (better known as TISM), Tyler Jenke forms an in-depth analysis of the anonymous, pseudonymous Melbourne collective’s rise to prominence and unlikely success on the popular music charts with their third album,Machiavelli and the Four Seasons(1995). Jenke details TISM’s origins as they slowly went from a bedroom concept to an underground success to a staple of concert stages and commercial radio in Australia, growing a rabid fanbase in the process. Despite the anti-commercial tendencies of TISM, whose album artwork didn’t feature the band, whose band members performed under pseudonyms and who rarely gave interviews, never mind sincere answers, TISM became a commercially successful group. In this book, Jenke identifies the steps the band took to shift their sound from their tried-and-true experimental Australian pub-rock roots to the burgeoning, youthful electronic music genre, employing synthesizers and samplers. With their new sound, TISM incorporated Dadaism – the use of unusual or everyday sounds – and both avant-garde and classic pop musicianship. The band’s new sound resulted in both top ten success and an ARIA Award. This is the first book to dissect TISM’s rise to fame within the Australian music industry and analyze TISM’s status as one of the most memorable, mysterious and paradoxically successful groups in the country’s vibrant alternative music scene.

Die voranschreitenden Forschungen zum Nachlass Hans Blumenbergs zeichnen ein immer schärferes Bild eines Denkers, der sowohl umfangreiche Arbeiten zur Geistes- und Technikgeschichte vorlegte als auch das öffentliche Denken beeinflusst hat – unter anderem durch Präsenz im Radio und regelmäßige Beiträge zum Feuilleton von FAZ und NZZ. Der Sammelband wird durch ein bisher unveröffentlichtes Forschungsmanuskript Hans Blumenbergs aus dem Themenbereich der Technikphilosophie abgerundet, das für den Band transkribiert und kommentiert wurde. Mit Beiträgen von Hans Blumenberg (aus dem Nachlass), Alberto Fragio, Andrew Hines, Sandra Markewitz, Marco Mauerer, Angus Nicholls, Martina Philippi, Josefa Ros Velasco, Nicola Zambon und Rüdiger Zill.

This chapter discusses the Liquidity Coverage Ratio (LCR) and Net Stable Funding Ratio (NSFR). The LCR is designed to make sure that the bank has sufficient liquidity to survive short-term shocks; the NSFR is designed to make sure that the bank's balance sheet is not too excessively mismatched between long- and short-term funding. In essence, LCR is a requirement that the bank has sufficient liquid assets to get through a 30-day period of high stress, whilst NSFR is a requirement that the bank's long-term assets be substantially funded by long-term liabilities. Both of these tests require some heroic assumptions about access to funding, likely roll-off of liabilities, and so on.

The Beatles are known for cheeky punchlines, but understanding their humor goes beyond laughing at John Lennon’s memorable “rattle your jewelry” dig at the Royal Variety Performance in 1963. From the beginning, the Beatles’ music was full of wordplay and winks, guided by comedic influences ranging from rhythm and blues, British radio, and the Liverpool pub scene. Gifted with timing and deadpan wit, the band habitually relied on irony, sarcasm, and nonsense. Early jokes revealed an aptitude for improvisation and self-awareness, techniques honed throughout the 1960s and into solo careers. Experts in the art of play, including musical experimentation, the Beatles’ shared sense of humor is a key ingredient to their appeal during the 1960s— and to their endurance. The Beatles and Humour offers innovative takes on the serious art of Beatle fun, an instrument of social, political, and economic critique. Chapters also situate the band alongside British and non-British predecessors and collaborators, such as Billy Preston and Yoko Ono, uncovering diverse components and unexpected effects of the Beatles’ output.

This chapter focuses on Kentuckian Bill Stepp, who worked as a logger in his younger days, then later turned his energies to fiddling for neighborhood hoedowns. Stepp is the creative source of an American anthem. In 1942 his rendition of the tune “Bonaparte's Retreat” became incorporated, nearly note for note, in the score of Rodeo, Aaron Copland's acclaimed modern ballet. By the early 1970s it appeared as “Hoedown,” an FM radio hit for Emerson, Lake, and Palmer, a symphonically oriented English rock band. Later, it formed the soundtrack for the beef growers' commercial, and finally, in this, an example of its continuing presence in American life, it recurs in the music piped down the hallways of a modern airport.

This paper estimates the output cost of fighting inflation—the sacrifice ratio—for the South African economy using quarterly data spanning the period 1998Q1–2019Q3. To compute the sacrifice ratio, the structural vector autoregressive model developed by Cecchetti and Rich (2001) based on Cecchetti (1994) is employed. Our findings show us a small sacrifice ratio, which lies within the range 0.00002–0.231 per cent with an average of 0.031 per cent, indicating a low level of output to be sacrificed while fighting inflation. Hence, the reserve bank is recommended to sustain an inflation rate within the target range and reap the benefits of a predictable and stable price path, as restrictive monetary policy has only a transitory effect on real variables like output.

This book offers comprehensive, practical guidance on RF propagation channel characterization at mmWave and sub-terahertz frequencies, with an overview of both measurement systems and current and future channel models. It introduces the key concepts required for performing accurate mmWave channel measurements, including channel sounder architectures, calibration methods, channel sounder performance metrics and their relationship to propagation channel characteristics. With a comprehensive introduction to mmWave channel models, the book allows readers to carefully review and select the most appropriate channel model for their application. The book provides fundamental system theory accessible in a step by step way with clear examples throughout. With inter- and multidisciplinary perspectives, the reader will observe the tight interaction between measurements and modeling for these frequency bands and how different disciplines interact. This is an excellent reference for researchers, including graduate students, working on mmWave and sub-THz wireless communications, and for engineers developing communication systems.

Beyond coverage of mainstream 80s music, such as “hair band” hard rock, pop, new wave, and rap, this compilation of essential musical artists also covers genres like classical, jazz, outlaw country, and music theater. Popular music in the United States during the 1980s is well known for imports from abroad, such as A-ha, Def Leppard, Falco, and Men at Work, as well as homegrown American rock acts such as Guns 'N Roses, Huey Lewis and the News, Bon Jovi, and Poison. But there were many other types of genres of music that never received airplay on the radio or MTV that also experienced significant evolutions or growth in that decade. Music of the 1980s examines the key artists in specific genres of popular music: pop, hard rock/heavy metal, rock, and country. No other reference book for students has previously explored the surprisingly diverse categories of hard rock and heavy metal music with such detail and depth. Additionally, a chapter focuses on the prominent artists and composers of less-mainstream genres for specialized audiences, including music theater, jazz, and classical music.

Hörspiele - in den 1920er Jahren für das Radio entwickelt - bilden ein eigenes literarisches Genre. Nach einer lebhaften Entwicklung sprengt das Pophörspiel als Kunstform ab den späten 1960er Jahren dann radikal mediale Grenzen und Hörerwartungen: Dies zeigt sich etwa in musikähnlichen Collagen, der Zitation und Verhandlung von Pop-Lebensstilen oder der Demontage des narrativen Sinngehalts. Wobei es dem Pophörspiel immer auch darum geht, die Öffnung zur Rock- und Popmusik sowie zur Popkultur allgemein voranzutreiben und einer bürgerlichen Kunstauffassung kritisch zu begegnen. Im Band versammeln sich exemplarische Blicke auf ausgewählte Hörspiele von u. a.: Andreas Ammer / FM Einheit, Sibylle Berg, Rolf Dieter Brinkmann, Heiner Goebbels / Heiner Müller, Ferdinand Kriwet, Thomas Meinecke, Rimini Protokoll, Milo Rau, Kathrin Röggla, Christoph Schlingensief, She She Pop und Wolf Wondratschek. Stefan Greif (*1961) ist seit 2007 Professor für Neuere deutsche Literaturwissenschaft an der Universität Kassel. Promotion 1992 zum Ehrkonzept bei Theodor Fontane, Habilitation 1998 mit einer Arbeit zu Bildästhetik und Beschreibungskunst in der Literatur. Zuletzt erschien von ihm das 'Herder Handbuch' (Hg., 2016). Nils Lehnert (*1984) wurde 2018 mit einer Studie zu Wilhelm Genazinos Romanfiguren promoviert. Derzeit am Institut für Germanistik der Universität Kassel. Arbeitsschwerpunkte: Literaturtheorie, Popästhetik sowie medien­übergreifende Kulturphänomene. Aktuelle Projekte zu Heinrich Leopold Wagner, Dea Loher, deutschsprachigem Rap sowie zur Ästhetik des Idyllischen.

Though he wrote 400 years ago, Shakespeare is still very much alive today. This vast encyclopedia attests to that fact through hundreds of entries chronicling the presence of the Bard in contemporary popular culture, including radio, film, television, and other media to which his works have been adapted. Each section begins with an overview essay, followed by entries on individual plays, including stage histories and biographies of actors and directors. Thus the encyclopedia covers the full range of Shakespeare's presence in popular culture, with an emphasis on the past hundred years. It also offers a selected, general bibliography and an extensive index. Students will find this a handy reference for comparing Shakespeare's plays to modern adaptations of them, while general readers will treasure it as a guide to Shakespeare's enduring legacy.

Depeche Mode’s 101 is, at first glance, a curious thing: a live double-album by a synth band. A recording of its “Concert for the Masses,” 101 marks the moment when doomy, cultish, electronic Depeche Mode, despite low American album sales and a lack of critical acclaim, declared they had arrived and ascended to the rare air of stadium rock. On June 18, 1988, 65,000 screaming, singing Southern Californians flocked to Pasadena’s Rose Bowl to celebrate DM’s coronation. The concert also revealed the power of Southern California radio station and event host KROQ, which had turned Los Angeles into DM’s American stronghold through years of fervent airplay. KROQ’s innovative format, which brought “new music” to its avid listeners, soon spread across the country, leading to the explosion of alternative rock in the 1990s. Eight years after its founding in Basildon, Essex, Depeche Mode, rooted in 1970s Krautrock, combined old-fashioned touring, well-crafted songs, and the steadfast support of KROQ to dominate Southern California, the United States, and then the world, kicking open the doors for the likes of Nirvana in the process. 101 is the hidden-in-plain-sight hinge of modern music history.

In der bayerischen Verfassung steht seit 1973, dass Rundfunk allein in öffentlich-rechtlicher Trägerschaft betrieben wird. Seit Mitte der 1980er Jahre hat sich aber gerade im Freistaat die vielfältigste privatwirtschaftliche Radio- und Fernsehlandschaft entwickelt. In jeder größeren Stadt, in allen Regierungsbezirken gibt es lokale Sender. Auf 600 Seiten bietet der Band einen Überblick, wie sich diese Medienszene unter dem Dach der Bayerischen Landeszentrale für neue Medien (BLM) entwickelt hat – von der Vorgeschichte bis in die Gegenwart. In sechs Kapiteln und mehr als 30 Aufsätzen werden Einblicke vermittelt in die Anbieterstruktur sowie die rechtlichen, technischen und ökonomischen Grundlagen, in die Programmangebote und deren Nutzung, wie auch beispielsweise in Ansätze, die Medienkompetenz zu fördern und die Qualität dessen, was da tagaus und tagein, landauf und landab gesendet wird, vergleichend zu messen. Detailstudien bieten darüber hinaus aktuelle Befunde etwa zu Ansätzen crossmedialen Arbeitens und zur Entwicklung von Redaktionsstrukturen sowie zur Stellung von Frauen in den Redaktionen, zu Hochschulradioangeboten, zur inhaltlichen Ausgestaltung von Regionalnachrichten, zur wachsenden Bedeutung auch von Podcasts, zu Musikformaten und Moderationsformen im Wandel der Jahrzehnte und zu vielem anderen mehr. Die Vielfalt vor Ort des privaten Rundfunks in Bayern wird damit umfassend abgebildet. Since 1973, the Bavarian State Constitution requires broadcasting services licensed in Bavaria to be organised under public control. However, since the mid 1980s the most diverse commercial radio and television landscape has developed in Bavaria. There are local broadcasting stations in every major city and in every government district. On 600 pages, the anthology offers an overview of how this media scene has developed under the oversight of the Bayerische Landeszentrale für neue Medien (BLM), the regulatory authority for new media in Bavaria, over the last decades. In six chapters and more than 30 articles, historians and communication scientists discuss the broadcasting structure, the legal, technical and economic basics, the program offers and their use, as well as, for example, approaches to promote media literacy and media quality. In addition, detailed studies provide current findings, for example, on approaches to cross-media work and the development of editorial structures as well as the position of women in editorial offices, campus radio offers, the content of regional news, the growing importance of podcasts, music formats and forms of moderation over the decades and much more. Thus, the anthology comprehensively represents the diversity of the commercial broadcasting in Bavaria.

This chapter begins by discussing the three overlapping capital requirements that banks are subject to. The first is the orthodox Basel capital requirement. The second is the Leverage Ratio, which is simply a non-risk-weighted capital requirement. The third is the stress test requirement. This has historically been the largest of the three. Stress testing identifies a particular probable state of the world, estimates the total loss which would occur if that state of the world were to eventuate, and requires capital sufficient to ensure that the bank retains sufficient capital after suffering the projected losses. The remainder of the chapter covers Pillar 2 assessment, capital floor, and capital buffers.

Abstract Lee C. Bollinger and Geoffrey R. Stone, together with an eminent collection of contributors, explore the various dimensions of the problems of “bad” speech–hate speech, disinformation and propaganda campaigns, and incitement of violence–on the internet, and in particular speech on social media platforms such as Facebook and Twitter, in the American context and through the lens of the First Amendment. Bollinger and Stone argue that in determining a path forward, it is important to remember that the last time American society encountered major new communications technology–television and radio—the government established a federal agency to provide oversight and to issue regulations to protect and promote ‘the public interest.’ Featuring a variety of perspectives from some of America’s leading experts on this hotly contested issue, this volume offers new insights and provides recommendations for the future of free speech in the social media era.

Neurofeedback of specific brain activity patterns allows perceiving and learning to gain control over these otherwise unaware neuronal processes. Neurofeedback may improve underlying neuronal deficits, and/or establish more general self-regulatory skills for compensating behavioural difficulties in other domains. Treating ADHD is the most common clinical neurofeedback application. Standard neurofeedback protocols based on electroencephalography train self-regulation of oscillatory activity in certain frequency bands (targeting theta/beta ratio) or slow cortical potential shifts. Both protocols have demonstrated promising outcomes, particularly in improving inattention symptoms, although controlled effects remain heterogeneous and often attenuated in blinded ratings. Further randomized controlled and (as far as possible) blinded evaluation studies are needed for better understanding of the mode of action and to establish robust standard training protocols for routine care. In the current state of evidence, neurofeedback can be recommended as part of a multimodal treatment of ADHD.

In this masterful compilation, world-recognized discographer Chris Sheridan draws together the most comprehensive reconstruction of Thelonious Monk's performances and recordings. Woven through the chronological listing of Monk's work is the story of his rise to acceptance as one of the key pianists and composers of jazz and his decline in health and popularity to his death in 1982. Following a Prologue which attempts to summarize the career and man, the narrative discography covers Monk's entire performance career. This is followed by appendixes listing all microgroove and post-microgroove issues of Monk's performances, all known commercially produced films and videos in which Monk took part, a listing of all of his engagements from 1944 until his career petered out in the mid-1970s, and a bibliography. The work concludes with an index of the people, places, producers, and radio and television programs referred to or quoted in the main taxt, a listing of all musicians, vocalists, and broadcast presenters who took part in the recordings or who played in Monk's bands, an index of all the titles used for Monk's tunes by other musicians and vocalists, and a listing of all tunes played, together with their composers and, where relevant, lyricists. A comprehensive reference work for all scholars and other researchers involved with jazz from the 1940s onward.

This fascinating volume offers an overview of the most influential and notorious media scandals, from newspaper publisher John Peter Zenger's groundbreaking 1735 trial for printing and publishing false, scandalous, malicious and seditious statements to Dr. Phil McGraw's 2008 thwarted attempt to force his television cameras inside Britney Spears' hospital room, from the attempts to ban literature by the likes of D.H. Lawrence, James Joyce, Henry Miller, and Allen Ginsberg to the excesses of gossip mongers like Walter Winchell, Hedda Hopper, Geraldo Rivera, and Matt Drudge. It delves into the tabloid press and walks through the minefields of political opinion shapers, the shouters, the muckrakers and whistleblowers. America's obsession with scandal-and the media's boundless capacity to report and sometimes even create it-did not start with O.J. Simpson, Rush Limbaugh, or Britney Spears. It was ingrained in the fabric of our nation even before Paul Revere made his famous ride. Indeed, our media's cherished right to free expression was hard-won and is now protected by the First Amendment to the U.S. Constitution, but it comes with responsibilities and is fraught with peril. The tension between the two forces of free expression and permissible subject matter has, throughout American history, caused media scandals-public outcries, legal proceedings, denunciations, violence and, in the case of Salman Rushdie's 1988 novel IThe Satanic Verses deaths. The early battles by the print media-newspapers, magazines, books-over censorship, book banning, book burning, obscenity, blasphemy and libel set the groundwork for even greater battles as the media expanded into radio, television and the Internet. This fascinating volume offers an overview of the most influential and notorious media scandals, from newspaper publisher John Peter Zenger's groundbreaking 1735 trial for printing and publishing false, scandalous, malicious and seditious statements to Dr. Phil McGraw's 2008 thwarted attempt to force his television cameras inside Britney Spears' hospital room, from the attempts to ban literature by the likes of D.H. Lawrence, James Joyce, Henry Miller, and Allen Ginsberg to the excesses of gossip mongers like Walter Winchell, Hedda Hopper, Geraldo Rivera, and Matt Drudge. It delves into the tabloid press and walks through the minefields of political opinion shapers, the shouters, the muckrakers and whistleblowers. Media Scandals examines this fascinating, troubled and sometimes inspiring subject from two different perspectives. First, through its recurrent themes, which reach across all media: politics; censorship; race and religion; sex and morals. The second half of the volume then examines each industry in more detail: book publishing; newspapers and magazines; radio and television, and the Internet. Augmenting this invaluable resource is a detailed timeline to help students put the wide-ranging scandals into historical perspective, and a thorough bibliography to encourage further research.

This is the book for anyone who aspires to the title "informed citizen." It clearly explains how political news works, how the media influences readers—and how to sort through it all to be a better, smarter consumer of political news. In a perfect world, political news would be objective and fact-based. Instead, it is biased and unreliable. This engaging book was written to help readers master the media. Combining insight and humor, it exposes the bias, irrationality, bad arguments, and misleading numbers that abound in political media. It shows readers how to take advantage of available news sources, and it guides them in developing the skills needed to sort through the flood of hype and misinformation. Specifically, the book examines types of political media and why it matters whether one gets political news from television, radio, newspapers, or the Internet, including social media. It discusses the latest developments in political behavior, economics, media studies, and neuroscience to explain why the political media does what it does to systematically distort consumers' view of politics—and it looks at ways consumers tend to be irrational in choosing and interpreting news. Finally, it offers concrete suggestions that will enable readers to become more critical of what they read, see, and hear.

The focus of this book is the Expedition, the Villistas, and their leader Francisco Pancho Villa. Villa's early life witnessed the advent of the typewriter, the telephone, linotype, the automobile, the Kodak camera, the first motion pictures, wireless telegraphy, the airplane, and the radio. In the days before his defeat at Columbus and the subsequent routing of his bands by the Punitive Expedition, Villa had a coterie of journalists wherever he traveled, and he went to great lengths to secure their comfort. In return they provided him with what today would be called good press, and American public opinion was shaped in a generally favorable direction. Villa instinctively realized that image was everything: it was not what you were that mattered but rather what you seemed to be that really counted. In addition to the American newspaper press, both Mexican and American photographers contributed to Villa's role as a legendary hero. A photographic record unprecedented in the annals of bandit-heroes spread the legend, and motion pictures gave an extraordinary boost to his notoriety. He is arguably the most widely recognized Mexican in America, and his picture is often found on the walls of Mexican-American restaurants. Catching Villa would prove to be difficult, and to do it, Black Jack Pershing and his force needed to rely on local intelligence. Pershing referred to his intelligence-gathering organization as the Intelligence Section, whose officers interrogated prisoners, recruited guides, interpreters, and informers, and organized a secret service of Mexican expatriates who were more than willing to provide their services against Villa. There were a number of Japanese who were employed with mixed results, and a few reliable local Mexicans were employed in the Secret Service with fairly good results. The narrative is itself a reflection of the success of the Intelligence Section in gathering information in the field and preserving what was gathered in detailed, written reports. The reports would not have been possible without the cooperation of the local population, particularly in the Guerrero district and specifically in the pueblo of Namiquipa. Both were hotbeds of Villista sentiment, and early Expedition reports stressed the hostility of the locals. Within a matter of weeks of its arrival, however, the local situation had changed radically. Local farmers were collaborating with the Americans, selling their labor and supplies to the troops and, more importantly, furnishing the invaders with military intelligence.

The EBA Guidelines on loan origination and monitoring (hereinafter "GL LOM") undoubtedly represent a substantially new piece of the banking regulatory framework. In fact, for the first time, the regulator moves into a topic that was traditionally outside the scope of financial regulation, so far almost exclusively focused on aspects directly linked to both micro- and macro-prudential stability, notably through capital and liquidity management requirements and guidelines on Business Model and Internal Governance. The credit management process, and in particular loan origination and monitoring, has always been typically considered as a business issue under sole responsibility of banks, as it is considered one of the "core" processes (if not the "core" process) of the banking business. As a matter of fact, since the issue of the capital requirement regulation (i.e., Basel II and Basel III), and the introduction of the use requirements for the rating systems, the regulator moved very close, but not yet, to prescribe specific credit assessment criteria, while dictating methodological and organizational requirements for the authorization of the rating systems, and leaving substantial freedom to banks to define their own models and embedded assessment criteria and indicators. With the GL LOM, the regulator takes a further step, remarkably beyond its traditional remit, dictating principles and rules for the evaluation of the credit quality of borrowers. The starting point for this new approach from the regulator can be found in the ECB guidelines on Non-Performing Loans, later endorsed by the Bank of Italy Guidelines for Less Significant Banks, aimed at encouraging banks to define their NPL management processes and establish reduction plans to achieve NPL ratio targets in line with the regulator's expectations. Consistently with the focus on NPL, the regulation on Calendar Provisioning, amending the CRR was issued; as being a Regulation, it involves all banks, and not only significant ones (for which the ECB Addendum also applies). In addition, the new definition of default (the so-called "new Dod") has defined stricter criteria for the transition of exposures to the default status and also made the return of "cured" exposures to the performing status more difficult. The combined effect of these regulatory changes has been to make the default of counterparties not only more probable but also much more "expensive" for the banks. The natural “next step” of these regulatory changes was to "move backward" into the management process covering loan origination and monitoring . The EBA's stated objective with the issuance of the GL LOM is to define "robust and prudent" standards of lending practices so as to maintain a low level of NPLs in the future. Therefore, the focus of the GL LOM is the definition of requirements (some outlined as prescriptions, others in terms of principles) for the creditworthiness assessment of counterparties and for the management of the related data and information. Notwithstanding the fact that the Final Report has articulated the principle of proportionality much more clearly as compared to the Consultation Paper, the GLs set out three macro-categories of counterparties for which specific requirements are defined: • Individuals • Micro and small businesses • Medium and large companies. The GL LOM also provide recommendations about the valuation of guarantees both at origination and during ongoing monitoring, encouraging the use of advanced statistical models. The GL LOM focus on real estate guarantees, while financial collateral is outside the scope of the GL LOM. In the mind of the regulator, the GL LOM should not only reflect industry practices, but also incorporate the latest supervisory guidance on lending, and provide the stimulus to include ESG, AML/CTF and the use of innovative technologies into banking origination and, where applicable, monitoring processes.