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The ant genus Syscia Roger, 1861 is a cryptobiotic group of the subfamily Dorylinae. In this study, eight species of this genus from Asia are recognized, including two new species, Syscia arcodorsa sp. nov. and S. zhoui sp. nov., both described from Guangxi in China. In addition, Cerapachys guizhouensis Zhou, 2006 is redescribed and transferred to Syscia as S. guizhouensis (Zhou, 2006) comb. nov. The species Syscia typhla Roger, 1861 is removed from the ant fauna of China. Lastly, a key to species of Syscia from Asia based on the worker caste is presented.
Two new endemic genera of Therevinae are described from Madagascar. Rinhatiana gen. nov. contains three new species (R. arctifestuca gen. et sp. nov., R. cracentis gen. et sp. nov. and R. latifestuca gen. et sp. nov.) as well as R. distincta (Lyneborg, 1976) comb. nov., which is transferred from Stenopomyia Lyneborg, 1976. Tianarinha gen. nov. is described containing two new species, T. goodmani gen. et sp. nov. and T. micet gen. et sp. nov. All species are diagnosed and figured along with distribution data.
A new genus and species of Parabathynellidae (Crustacea: Bathynellacea), Megabathynella totemensis Camacho & Abrams gen. et sp. nov., is described from the Northern Territory, Australia. This species is the first to be described from an Australian cave. It is a new giant species (4 to 6 mm). The new species displays several unique morphological character states within Parabathynellidae and is the only known species with: more than 12 articles on antennules, with a short, curved barbed seta on each article from the fifth; eight setae on the last article of antennae; more than three setae on the mandibular palp; up to 17 articles on the exopod of the thoracopods, without ctenidia but with a strong spine on each article at the base of the external seta; strong row of pair of spines on latero-external side of second article of endopod in all thoracopods; the male thoracopod VIII is different from all those known; more than 50 spines on the sympod of the uropod and more than 35 spines on the furcal rami. Specimens of the new species are morphologically different from all known species, but more closely resemble some giant species of the genera Kampucheabathynella (Asia), and Billibathynella and Brevisomabathynella (Australia).
Two new species of Fomitopsidaceae, Pseudofomitopsis fusca R.Saha, A.K.Dutta & K.Acharya sp. nov. and Fomitopsis benghalensis R.Saha, A.K.Dutta & K.Acharya sp. nov., are described from West Bengal, India, based on morphological and molecular phylogenetic analyses (nuclear ITS sequence). Pseudofomitopsis fusca sp. nov. possesses perennial, triquetrous to ungulate, sessile basidiocarps with a shiny, glabrous, azonate, dark brown upper surface, a yellowish grey pore surface with angular pores (3–5 per mm), a dimitic type of hyphal system with clamped generative hyphae, fusoid cystidioles; ellipsoid, cotton blue positive, and basidiospores 3–5 × 1.5–3.5 µm. Fomitopsis benghalensis sp. nov. is characterized by its annual, resupinate basidiocarp with pilose, bluish white to orange-grey, warty, woody upper surface, bluish-white pore surface, circular to angular pores (5–7 per mm), a trimitic type of hyphal system with clamped generative hyphae, fusoid cystidioles, and cylindrical to elongate basidiospores (5.5–8 × 2.5–3.5 µm). The new taxa are compared to closely related taxa. Photomicrographs of the basidiocarps, along with detailed morphological descriptions and a molecular sequence-based phylogenetic tree, are provided.
Two new species of Strandesia Stuhlmann, 1888 are described from the northeastern part of Thailand: S. karanovicae sp. nov. and S. amnatcharoenensis sp. nov. Strandesia karanovicae is characterized by a tumid carapace in dorsal view, a small anterior overlap, the absence of a dorso-subapical seta on the first segment of the antennule (A1), a large aesthetasc Y on the antenna, an α seta shape with a needle-like tip and a large β seta on the mandibular palp (Md-palp), serrated bristles on the maxilla, a long h1 seta on the second thoracopod (T2) and a slender caudal ramus (CR). Strandesia amnatcharoenensis has a small compressed posterior part of the right valves (RV) which makes it closely related to S. pholpunthini Savatenalinton, 2015. The new species can be distinguished primarily by a considerably small anterior overlap of the left valve over the right valve (RV), a postero-ventral flange of the RV, a remarkably large claw Ga of the CR and the chaetotaxy of the limbs, especially A1, Md-palp and T2. In addition, in the present study, the sexual population of S. martensi Savatenalinton, 2015 is recorded for the first time, and thus the first description of the male is provided here. Moreover, the morphological examination of both males and females revealed differences between asexual and sexual females and also points to the fact that S. martensi is a mixed reproduction species. This is the first record of the mixed reproductive mode in the genus Strandesia or even in the Cypricercinae.
In its first ten years (2014-2023), the banking union was successful in its prudential agenda but failed spectacularly in its underlying objective: establishing a single banking market in the euro area. This goal is now more important than ever, and easier to attain than at any time in the last decade. To make progress, cross-border banks should receive a specific treatment within general banking union legislation. Suggestions are made on how to make such regulatory carve-out effective and legally sound.
This paper addresses the need for transparent sustainability disclosure in the European Auto Asset-Backed Securities (ABS) market, a crucial element in achieving the EU's climate goals. It proposes the use of existing vehicle identifiers, the Type Approval Number (TAN) and the Type-Variant-Version Code (TVV), to integrate loan-level data with sustainability-related vehicle information from ancillary sources. While acknowledging certain challenges, the combined use of TAN and TVV is the optimal solution to allow all stakeholders to comprehensively assess the environmental characteristics of securitised exposure pools in terms of data protection, matching accuracy, and cost-effectiveness.
This study analyses potential consequences of exiting the Targeted Long-Term Refinancing Operations (TLTRO) of the European Central Bank (ECB). Thanks to its asset purchase programs, the Eurosystem still holds plenty of reserves even with a full exit from the TLTROs. This explains why voluntary and mandatory repayments of TLTRO III borrowing went smoothly. Nevertheless, the more liquidity is drained from the banking system, the more important becomes interbank market borrowing and lending, ideally between euro area member states. Right now, the usual fault lines of the euro area show up. The German banking system has plenty of reserves while there are first signs of aggregate scarcity in the Italian banking system. This does not need to be a source of concern if the interbank market can be sufficiently reactivated. Moreover, the ECB has several tools to address possible future liquidity shortages.
This document was provided/prepared by the Economic Governance and EMU scrutiny Unit at the request of the ECON Committee.
Almost ten years after the European Commission action plan on building a capital markets union (CMU) and despite incremental progress, e.g. in the form of the EU Listing Act, the picture looks dire. Stock exchanges, securities markets, and supervisory authorities remain largely national, and, in many cases, European companies have decided to exclusively list overseas. Notwithstanding the economic and financial benefits of market integration, CMU has become a geopolitical necessity. A unified capital market can bolster resilience, strategic autonomy, and economic sovereignty, reduce dependence on external funding, and may foster economic cooperation between member states.
The reason for the persistent stand-still in Europe’s CMU development is not so much the conflict between market- and state-based integration, but rather the hesitancy of national regulatory and supervisory bodies to relinquish powers. If EU member states wanted to get real about CMU (as they say, and as they should), they need to openly accept the loss of sovereignty that follows from a true unified capital market. Building on economic as well as historical evidence, the paper offers viable proposals on how to design competent institutions within the current European framework.
This note outlines the case for speedy capital market integration and for the adoption of a common regulatory framework and single supervisory authority from a political economy perspective. We also show the alternative case for harmonization and centralization via regulatory competition, elaborating how competition between EU jurisdictions by way of full mutual recognition may lead to a (cost-)efficient and standardized legal framework for capital markets. Lastly, the note addresses the political economy conflict that underpins the implementation of both models for integrating capital markets. We point out that, in both cases, national authorities experience a loss of legislative and jurisdictional competence at the national level. We predict that any plan to foster a stronger capital market union, following an institution based or a market-based strategy, will face opposition from powerful national stakeholders.