Sole Bank Research Articles

Involving stakeholders in the evaluation of management strategies for shortfin mako (Isurus oxyrinchus) and blue shark (Prionace glauca) in the Spanish longline fisheries operating in the Atlantic Ocean

Shortfin mako (Isurus oxyrinchus) and blue shark (Prionace glauca) are a relevant bycatch in the Spanish surface longline fisheries that operate in the Atlantic Ocean. Concern has been raised after the 2017 and 2019 shortfin mako evaluations for the Northern Atlantic stock. It stated the population being overfished and suffering from overfishing. Also blue shark is subject to high extraction rates in the Atlantic Ocean. Few data and uncertainty in assessment results suggest that further management strategies could be taken into account for both species. This study evaluated different fisheries management strategies for shortfin mako and blue shark in the Atlantic Ocean from the stakeholders' perspective. Personal interviews were conducted with Spanish fishermen and surveys were sent to scientists and non-governmental organizations (NGOs). Local Ecological Knowledge was considered to be useful as fishermen possess unique expertise based on their continued interaction with the species and environment. Interviews allowed understanding the fishermen's perception on variations of stock abundance, distribution patterns, size of capture and seasonal fluctuations for both species. SWOT (Strength, Weaknesses, Opportunities and Threats)-analysis was used to study the different management measures. Main management strategies proposed by all stakeholders to reduce the bycatch of both species were spatial-temporal closure, minimum size and quotas. The Sole Bank was suggested as a temporarily closed area to protect blue shark juveniles during the summer months. The participation of stakeholders enriched the knowledge available and provided a broader data set now available for decision makers in the corresponding regional fisheries management organization (RFMOs).

A survey of zoonotic nematodes of commercial key fish species from major European fishing grounds—Introducing the FP7 PARASITE exposure assessment study

Harvesting and exploiting limited fisheries resources in a sustainable manner also implies achieving maximum added value from the raw material. However, the presence of parasites in the products may adversely affect consumer perception and/or pose a direct health hazard. As a major stepping-stone of the PARASITE project, an epidemiological survey was carried out to provide the basis for analysis and prediction of consumer exposure risk due to the presence of anisakid nematodes in fish from European wild-catch fisheries. The project consisted of nine separate workpackages (WP) where the exposure risk assessment survey was organized within WP2. The surveillance task also provided the data or samples needed for data management and sample storage (WP3, Biobank), molecular and genetic parasite species identification (WP4), and statistical modelling and inference (WP8). In total 17,760 fish belonging to 16 teleost species were examined for anisakids, with special emphasis on economically and ecologically important species such as Atlantic mackerel, herring, European hake, Atlantic cod and anchovy. The target fish species were sampled at four major European fishing areas including the Barents Sea, North Sea, Baltic Sea, Grand Sole Bank, waters off NW Spain and Portugal, central and western parts of the Mediterranean Sea, and the Adriatic Sea. Thus, the survey represents the largest and most comprehensive epidemiological data compilation of anisakids ever generated in terms of geographical range as well as number of fish host species and sample size. An important requirement of the survey was the use of commonly accepted nematode detection methods, i.e. the UV-press method or artificial digestion, to quantify infection level and spatial distribution of anisakid larvae in the target fish species. The basic layout, set-up and principles of the method, along with a discussion of possible source of errors are described. Additionally, the molecular and genetic markers which were used to identify and characterize different species and populations of anisakids from the targeted fish host species and geographical areas, are reviewed as well. Some basic parasite infection characteristics of each fish host species, and any relationships with the presumably most important infection predictors, i.e. fish host body size and fishing locality, are presented and discussed. Emphasis is put on anisakid occurrence in the flesh of the fish. Based on the findings, a graphical exposure risk profile is introduced, including fish species or products thereof, which due to common processing or preparation practices, are at highest risk to act as source of anisakiasis in Europe.

Pollutant levels in discarded fish species by Spanish trawlers operating in the Great Sole Bank and the Atlantic coast of the Iberian Peninsula

Organic and inorganic pollutant levels were determined for the most discarded species from trawlers operating in Great Sole and Spanish coastal fishing grounds. Results for heavy metals indicated that Cd can reach values higher than legal limits for some species and tissues, while Hg and Pb concentrations are below established values. No significant variation was noticed with fishing grounds, but both season influences in the case of Pb and interspecies variation for Hg and Cd have been detected. Valorization recommendations could be therefore established according to the levels found in the different species.

Population genetic analysis of Anisakis simplex s.l. and Anisakis pegreffii (Nematoda, Anisakidae) from parapatric areas and their contact zone

Genetic markers (ribosomal DNA and mitochondrial DNA) were used for molecular dissection of the Anisakis simplex sensu lato (s.l). complex populations. Host fish were caught off Moroccan coasts, where only Anisakis pegreffii is present, the sympatric area comprising Spanish coasts, and the Little Sole Bank fishing area from Nordeast Atlantic Ocean where the only present species is A. simplex sensu stricto(s.s.). Sequence variations in the amplification products were then assessed indirectly by digestion with restriction endonucleases or directly by sequencing for 623 L3 larvae. The sequences were used to infer the relationships between the two species under study using various methodological approaches. We reveal the high genetic diversity of Anisakis simplex s.s. and A. pegreffii in both mitochondrial and nuclear genes. We detected 10 and 2 fixed differences between A. simplex s.s and A. pegreffii in the Cox2 and ITS1, respectively. We found a proportion of putative hybrids below 20% with similar figures on the Atlantic and Mediterranean coasts. Moroccan hybrids were more similar to A. pegreffii reflecting backcrosses between these mixed genotypes and his ancestor A. pegreffii. We discuss the possible interpretation of these putative hybrids.

Underwriting Syndicate Structure and Lead Manager Reputation: An Empirical Study on European Stock Markets

Sur la base d’un echantillon de 1542 introductions en bourse allemandes, britanniques et francaises, nous examinons le lien entre la structure du syndicat bancaire et la reputation du chef de file. Nous etudions deux aspects de la structure du syndicat bancaire : le nombre de banques formant le syndicat et le ratio total des membres du syndicat / total des chefs de file. En premier lieu, nous observons majoritairement que le chef de file est le seul a effectuer l’introduction en bourse, il ne delegue une part de l’operation que dans 41 % des cas. La raison principale de cette concentration du syndicat sur une seule banque est que les introductions en bourse en Europe sont de petite taille. En second lieu, nous montrons que la delegation d’une introduction en bourse a d’autres banques (co-managers et autres managers) s’accroit avec la reputation de d chef de file. Toutefois, cet effet n’existe que pour les grandes introductions en bourse ; les operations de petite taille etant laissees a des banques plus petites, moins reputees et realisant un grand nombre d’operations. Nos resultats sont avec les travaux de Pichler et Wilhelm (2001) qui montrent que la reputation du chef de file cree une segmentation du marche des introductions en bourse entre les petites et les grandes operations.

Genetic variability of Anisakis simplex s.s. parasitizing European hake (Merluccius merluccius) in the Little Sole Bank area in the Northeast Atlantic

In this study, we researched the presence of anisakids in specimens of Merluccius merluccius caught in the area of Little Sole Bank, in the Northeast Atlantic, and found that 100% of the European hake examined were infected and showed high average values of abundance (976.88) and intensity (976.88). The larvae were identified in morphological terms as morphotype type I and in molecular terms as Anisakis simplex s.s via polymerase chain reaction (PCR) restriction fragment length polymorphism of the rDNA. The genetic variability of the A. simplex s.s population in the North Atlantic is notable, with at least two ribosomal and three mitochondrial haplotypes which are different from the specimen used as control, reflecting the diversity of this species, an aspect which has scarcely been studied to date. The cox-2 gene appears to be an interesting candidate for generating new genetic markers which can be applied to differentiate between A. simplex s.s and Anisakis pegreffii. We detected 11 fixed differences in this gene, and it also offers the advantage of being easily amplified by PCR. The high prevalence of infection by A. simplex s.s and the extremely high average intensity and abundance values can have significant repercussions on public health, especially among populations which regularly eat insufficiently cooked or raw fish and have a certain genetic predisposition; the genetic variability of the parasite could be another factor to take into account.

Distribution of plankton and hydrography in relation to Great Sole, Cockburn and Little Sole Banks

Sampling was carried out in the Celtic Sea in May 1987 over Great Sole and Cockburn Banks, and in June 1991 over Little Sole Bank, to study relationships between bank topography, hydrography and plankton distribution.Over Great Sole and Cockburn Banks, there were various patterns in the hydrography and plankton which could be related to the banks, although there were no significant correlations with water depth. Away from the shelf-edge, stratification was lower over the banks. Higher water temperatures (at 5 m and 100 m depth) and increased concentrations of copepod nauplii and adults occurred on either side of Cockburn Bank. Abundance of mackerel (Scomber scombrus) eggs and larvae increased towards the shelf-edge, with lower numbers over Cockburn Bank.Over Little Sole Bank, water column stratification was negatively correlated with water depth. However, this was strongly influenced by shelf-edge mixing, which was reflected in reduced stratification towards the shelf-edge. Background levels of chlorophyll-a also increased from on-shelf towards the shelf-edge. Copepod adults and nauplii, as well as mackerel eggs and larvae were more abundant with distance onto the shelf.There was partial retention of four Argos tracked drift buoys on the south-east flank of Little Sole Bank. The mean displacement rate of the buoys was 1.35 km day−1 over 10 days, with a mean dispersion of 1.2 km day−1. A simple one-dimensional coupled physical–biological model showed the potential influence of banks resulting in earlier stratification and resultant spring bloom. Considerations of the delay in transfer of production from primary to secondary production and the effects of drift and diffusion, suggested it was unlikely that any influence of the banks on production would be directly related to bank topography, but there might be some regional enhancement of production.

Islamic banking: the case of Algeria

PurposeThe purpose of this paper is to provide a detailed analysis of the Islamic banking in Algeria following the financial liberalisation initiated in the 1990 s. It seeks to examine the performance of the sole bank offering Islamic financial products in Algeria, Banque Al Baraka d'Algérie. The study also aims to analyse the methods adopted by the bank to improve the allocation of its financial resources and to boost its earnings.Design/methodology/approachInterviews were conducted to learn about the performance and risks associated with Banque Al Baraka d'Algérie operations. All interviews were held one‐to‐one with each respondent in Algeria. Statistical data and financial ratio analyses are also used to support the arguments made in this study. Analyses are carried out on major factors affecting the bank operations.FindingsThe study reveals four key findings: Banque Al Baraka d'Algérie offers only a few Islamic financial products to its customers; most of the instruments are geared towards short‐term financing; the bank's overall performance has improved since its operations in Algeria; and credit risk remains the main obstacle facing the bank.Research limitations/implicationsThis research uses a single country case study. The study also refers to the case of one Islamic bank with no competition from other Islamic finance providers.Practical implicationsThe analyses presented in this research can be used by policymakers and managers as a guide to developing the existing Islamic banking practices in Algeria.Originality/valueThe study makes a contribution to the literature on Islamic banking in Algeria. It is the first study to particularly investigate the issue of Islamic banking performance in Algeria. The findings achieved in this research will be of interest for practitioners and academics concerned with developments of the Algerian banking industry.

Louis Sullivan's First National Bank Building (1919-1922), Manistique, Michigan

Louis Sullivan's proposals for remodeling the First National Bank Building (1919-1922) in Manistique, Michigan, were executed in part. They reveal his underappreciated ability to bring order to someone else's design chaos by skillfully manipulating the tiniest of details. They also suggest that after his partnership with Dankmar Adler ended in 1895 he refined a vocabulary of façade composition meant to differentiate commercial structures according to program. When newly available archival material is fully exploited, it will likely reveal a good deal more about this neglected building, which was not only Sullivan's sole bank remodeling but also proof that as his career came to a close his ornament remained as powerful as ever.

Monetary Policy and Public Finances: Inflation Targets in a New Perspective

This paper considers the interaction between the private sector, the monetary authority, and the fiscal authority, and concludes that unrestricted central bank independence may not be an optimal way to collect seigniorage revenues or stabilize supply shocks. Moreover, the paper shows that the implementation of an optimal inflation target results in optimal shares of government finances - seigniorage, taxes, and the spending shortfallfrom society`s point of view but still involves suboptimal stabilization. Even if price stability is the sole central bank objective, a positive inflation target has important implications for the government`s finances, as well as for stabilization.

Seasonality of the European slope current (Goban Spur) and ocean margin exchange

Eight years of current data, 5.5 years of Eulerian current meter data and 2 years of Lagrangian data, are analysed in the context of seasonality along the continental slope margin of NW Europe, across shelfbreak flow and continental shelf flow. Long-term records from the continental slope at the ∼1000 m depth contour on Goban Spur and Little Sole Bank Spur show maximum recorded currents in the range 39–43 cm s -1, but typical maximum monthly mean values are ∼10 cm s -1 in the upper half of the water column. On the slope, the flow is predominantly poleward in the general alongslope direction with maximum flow in winter (December–January). The spur situation can result in four preferred directions of alongslope flow which due to topographic control is less evident near the sea floor (∼50 m up), where the flow is predominantly poleward. Equatorward upper layer flow tends to occur in the spring (March–April) period but can extend to the sea floor and into the summer period nearer the sea surface. Some seasonal signatures correlate with sea level anomalies seen in altimeter data in the continental slope and shelf region. May infrared remote sensing images show cool water separating from the upper slope (∼1 km water depth contour) region of Goban Spur both in a WNW and SSW direction (i.e. the off-slope preferred flow directions) reflecting both poleward and equatorward flows. The seasonal results are discussed in terms of the SOMA (September–October/March–April) seasonal response. The long-term or near annual Eulerian residual mean flows were typically 2 cm s -1 throughout the water column and poleward in the alongslope direction. The upper layer (30 m depth) shelf currents, ∼30 km onshelf from the Goban Spur shelfbreak, were markedly onshelf with a Eulerian mean of 6 cm s -1 over a 129-day period. A carefully prepared drogued Argos buoy (drogued at 45 m depth), and deliberately placed for subsequent along continental shelf margin movement, released a further 100 km onshelf, moved northward and parallel to the western Celtic shelfbreak towards the south of Ireland. Here the drogued buoy found the Valentia Coastal Current, passed west of Ireland on the mid-shelf, then along the continental shelfbreak (200 m contour) and through the LOIS SES site, reaching a maximum speed of 66 cm s -1 (12 h average). The drogued buoy entered the Northern North Sea, north of the Shetland Isles, travelling a distance of ∼1600 km over a period of 5 months. Drogued buoys were deployed in the ocean and on the shelf. Overall, it is shown that the continental slope is an insulator for ocean shelf exchange but the ocean margin is a conductor for advective influences from the south.

Day/night differences in determination of growth rate of mackerel Scomber scombrus larvae during a patch-study in the Celtic Sea

The growth rate of mackerel, Scomber scombrus, larvae was calculated by analysing mean cohort length over time. The study took place on the central spawning ground of mackcrel in the Celtic Sea (Great Sole Bank) in April 1986. In order to minimize horizontal catch variability, repeated small-scale sampling with the “Mocness” plankton net was undertaken close to a satellite-tracked drifting buoy during a period of 78 h. Eighteen samples from nine hauls distributed over the whole sampling period were considered. One hundred larvae per sample were measured using a semi-automatic method. The proportion of larger larvae was significantly higher in night catches than in day catches. Independently calculated growth rates were 0.18 mm d-1 for day catches and 0.14 mm d-1 for night catches. This difference was not statistically significant. However, confidence in the calculation of growth rate, computed from night sampling, was much higher than that for day sampling. This may result as an effect of avoidance behaviour by larvae in daylight. Thus, night sampling seems to be a more reliable tool in the study of larval growth and should be used more extensively than daylight sampling.

Estimating biomass and production of pelagic larvae of brachyuran decapods in western European shelf waters

Methods are described for estimating the dry weight biomass, production due to growth, production due to moults, flux to the plankton from the benthos of hatching zoeae and from the plankton to the benthos of settling megalopae of common Brachyura from north-western European waters. These methods are applied to brachyuran larvae taken in Continuous Plankton Records in the Irish Sea during 1981–1983 and from the Longhurst Hardy Plankton Recorder over Great Sole Bank in June 1983. The former provided estimates of input of hatching zoeae to the plankton at 10 m depth from the benthos of 0.41 mg dry weight · m −3 · a −1 with a peak in April, a mean standing stock of 0.19 mg · m −3 with a maximum in May. The peak in production was in July and the annual ratio of production to biomass ( P: B) was 23.2:1 excluding moults, or 26.1:1 including moults. The estimated flux of settling megalopae from the plankton at 10 m depth to the benthos was 1.33 mg · m −3 · a −1 with a peak in July. The data from the LHPR haul gave instantaneous daily values of an input of 0.004 mg · m −2 · day −1 to the plankton and a mean biomass 6.696 mg · m −2 of brachyuran larvae in the plankton. The daily P: B ratio was 0.067:1 excluding moults and 0.073:1 including moults and an estimated 0.07 mg · m −2 · day −1 was returning to the benthos.

Vertical distributions of decapod crustacean larvae and pelagic post-larvae over Great Sole Bank (Celtic Sea) in June 1983

Variations in the vertical distributions of pelagic stages of decapod crustaceans are described from five hauls taken over the Great Sole Bank in June 1983. Analyses of the results discriminated between the distributions mainly according to the time of day at which the hauls were taken, suggesting that diel variations were their most significant feature. Substantial ontogenetic variations were observed in the distributions of Processa canaliculata.

Some deep water Pycnogonids from the north-east Atlantic

Twenty-two specimens of pycnogonid representing nine species arc recorded from deep waters around the British Isles. The samples are from the Faroe Channel, the Hebridean Terrace and the vicinity of the Great Sole Bank, taken at depths of between 200 and 1835 m. These specimens demonstrate marked southern range extensions for Aymphon teptocheles and Pallenopsis tritonis, and include the northernmost record for the genus Cilunculus (C. alcicornis) and the third European record for Colossendeis arcuata. Protonymphon larvae of N. leptocheles and Paranymphon spinosum are figured.

Central banking and currency problems in Finland, 1811–1877

Abstract Hugo E. Pipping's major work on the early history of the Bank of Finland and its development from being the sole bank in Finland to its assumption of the role of central bank with its own gold reserves is not merely the history of a bank. It describes fully the beginning of the Finnish banking system and analyses the unique monetary conditions of the country. In the process the Bank itself sometimes recedes into the background of the story, but this approach has yielded a rich harvest.

A study of the old Danish aristocracy

Abstract Hugo E. Pipping's major work on the early history of the Bank of Finland and its development from being the sole bank in Finland to its assumption of the role of central bank with its own gold reserves is not merely the history of a bank. It describes fully the beginning of the Finnish banking system and analyses the unique monetary conditions of the country. In the process the Bank itself sometimes recedes into the background of the story, but this approach has yielded a rich harvest.