Source: SAFE For Animals
Wellington, New Zealand, 29 September – FiberSense, a leading infrastructure sensing and monitoring company, has shared remarkable high-resolution results in its detection of the magnitude 5.8 Cook Strait earthquake that occurred 70km northwest of Wellington, New Zealand on 22 September.
Founder and CEO of FiberSense, Mark Englund said “Our DigitalSeismic sensing service that we have operating on fibre optic telecoms cables in Wellington detected a range of activity from the earthquake centred on the Cook Strait last week. We cross-referenced our measurements with the records of the official earthquake sensors and the results were remarkable – for the first time ever we've calibrated the impact of quakes down to a building-by-building analysis level.”
“Immediately after the earthquake last week we first confirmed that the main data points from the official readings like magnitude and wave movement across ground closely matched with our readings. This established that our fibre optic-based quake detection is as reliable as current methods that depend on monitoring stations scattered across New Zealand. The most compelling finding is that because the fibre-based method constantly records the activity as the event wave moves across the earth, our DigitalSeismic service captured the peak ground acceleration with around 1000x greater fidelity compared to what conventional seismic networks achieved,” Englund said.
FiberSense VP of Research & Development, Dr Nate Lindsey, said “Fibre optic telecoms cables are the hidden web of communication within a city. FiberSense's DigitalSeismic service uses this web to take the pulse of a city, block-by-block, building-by-building. When an earthquake strikes, we use advances in distributed sensing to make measurements of how much the ground shook at positions every few metres along the optical fibre, improving on the traditional seismometers which are separated by kilometres, at best. A further key benefit from our approach is that DigitalSeismic concentrates ground shaking information where it matters most – in and around the populated areas where the fibre is commonly located. This contrasts with conventional seismic networks which have traditionally been located far from noisy city activity. Targeting populated areas adds important data-driven insight right where people are most impacted, making DigitalSeismic technology a real game changer for how we respond to seismic hazards.”
“We believe this capability will be an invaluable tool for first responders, utilities, critical infrastructure owners and seismologists, as well as government authorities in assessing the damage from earthquakes. Whilst we can't prevent natural disasters occurring, we can inform the way we plan for and respond to these inevitable events. It is critical that the quality of the data we base our recovery plans on should be as complete and well informed as possible. At FiberSense, we are pleased to be able to contribute to meeting that challenge and help make the world around us safer and more secure for all,” Englund said.
FiberSense is engaged with seismologists at Victoria University of Wellington and the University of Auckland through a grant from Earthquake Commission (EQC) to study the earthquake recordings which FiberSense is availing to the community. Through this science partnership, FiberSense hopes to build a bridge to new opportunities in earthquake early warning and seismic hazard analysis.
Further background to the DigitalSeismic results from the NZ earthquake
Researchers working to understand the impact, scale, and dangers that earthquakes have on communities, have to date been informed by the data collected by individual seismic readers scattered around the globe. In the quake-prone islands of New Zealand, this can mean just a few dozen seismic meters, often hundreds of kilometres apart, are relied upon to capture data for the whole country. They measure not just the onset and duration of ground motion, but also critically important information like the maximum ground acceleration and directionality of shaking. Taken together, this data informs the public sector's responses to natural disasters and underpins our preparations to proceed with a plan of action when the inevitable next event occurs.
However, the current quality of earthquake data is about to be turbo charged by using information detected across the ubiquitous fibre optic cables that link up cities, connect communities and traverse the globe. The team at FiberSense has invented and patented a new class of sensor system over optical fibre cable infrastructure called Vibration Detection and Ranging (VID+R). This technology acts as a series of 'virtual seismic sensors' set every few metres along a fibre cable. These distributed sensors can then detect the force and speed of the earthquake as the damaging waves move through city blocks and even individual buildings. This detailed information about the event is available in the moments immediately after the earthquake strikes as the data is aggregated automatically in the cloud.
Fiber Sense Ltd (“FiberSense”) was formed to dramatically improve everyone's experience in public spaces by adding a new level of real time and historical awareness of anonymised objects and events in public spaces. The team at FiberSense invented and patented a new class of sensor system over optical fibre cable infrastructure called Vibration Detection and Ranging (VID+R®️). FiberSense technology sits at the intersection of optical fibre sensing, integrated photonics, machine learning and optical fibre telecoms networks. They bring these capabilities together in a digital platform that can be sampled at www.fibersense.com
29 September 2022 – The Reserve Bank of New Zealand – Te Pūtea Matua is proposing changes to how banks should apply risk weightings to their exposures under bank capital adequacy rules.
We are in the process of phasing in the Capital Review decisions from December 2019. These are designed to make the banking system safer for all New Zealanders by reducing the likelihood of bank failure, lifting financial stability and protecting people from the economic and social impacts associated with the failure of a bank.
The proposals cover our responses to some questions banks asked us to look at during consultations about the implementation of the Capital Review decisions during 2021. We are proposing a number of small amendments and clarifications to address their questions. The consultation also covers the treatment of the Business Growth Fund.
The proposed changes are designed to improve clarity and transparency, but have little impact on the overall parameters of the changes announced in December 2019.
The consultation paper covers six areas where we have considered changes to the approach to risk weighting in response to feedback from stakeholders.
We are seeking feedback on our proposals to lower the risk weighting on First Home Loans underwritten by Kāinga Ora and to reduce the risk weighting of bank equity exposures to the Business Growth Fund.
Other areas covered in the consultation paper include:
Sovereigns, Public Sector Entities and Multilateral Development Banks
Reverse Residential Mortgage Loans
Qualifying Central Counterparties
What are risk weights?
Risk weights are used to convert the actual size of an exposure into a risk-weighted asset. A more risky exposure will have a higher risk weight. Banks are required to hold a minimum percentage of capital against these risk weighted exposures. Higher risk exposures mean a bank will need more capital — money provided by the owners (shareholders) of a bank. This ensures that the owners have a meaningful stake in the bank — the more the bank's owners have to lose, the more they will want to make sure the bank is run properly.
There are two closing dates for submissions.
Submissions on the proposals for the risk weighting of exposures to the Business Growth Fund close at 5pm 30 November 2022.
Submissions on all other topics in this consultation paper close at 5pm 28 February 2023.
Download the risk weights consultation paper (PDF 993KB) https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=81513c26cb&e=f3c68946f8
How to make a submission https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=0e604ff165&e=f3c68946f8
Source: Te Pukenga
Substantially improving Auckland’s rapid transit options isn't enough to reduce kilometres travelled by private vehicles, according to a study exploring the impact of rapid transit on congestion, vehicle use, wages, and city size.
Business School academics Dr Ryan Greenaway-McGrevy and Dr James Allan Jones model improvements to public transport, such as the construction of a new rapid transit line, in their forthcoming paper titled Mode Choice and the Effects of Rapid Transit Improvements on Private Vehicle Use and Urban Development.
Their model seeks to reconcile evidence that overall driving tends to decrease in European cities following an improvement in public transport, but tends to increase in American ones.
They show that despite rapid transit improvements, total kilometres travelled by private vehicles will increase if a city is highly congested or the public transit network is underdeveloped.
The researchers use their model to show that building an additional rapid transit line in Auckland would likely result in an increase in vehicle kilometres travelled as the city grows in response to the improved transportation network.
To see a meaningful reduction in the distance travelled by commuters in private vehicles, Dr Jones says increases in rapid transit options, such as rail or subways, could be paired with a congestion charge.
“Our findings underscore the need for policy coordination for cities such as Auckland to meet their emissions and energy reduction targets,” says Jones.
“Improvements to public transit have a lot of benefits for a city, unfortunately reducing total driving is unlikely to be one of them if undertaken in isolation.”
A puzzle uncovered by researchers from the Auckland Bioengineering Institute (ABI) offers a clue which could lead to a massive change in the lives of people with Type 2 Diabetes.
Dr June-Chiew Han and fellow researchers from Waipapa Taumata Rau University of Auckland are looking closely at cells in diabetic heart muscles using the power of super resolution microscopy. For the first time, scientists have been able to see minute structures of cardiac cells and observe, in fine detail, the behaviour of contractile proteins in early-stage diabetes.
Source: Productivity Commission
- The full report and overview are available at the Productivity Commission website: https://www.productivity.govt.nz/inquiries/a-fair-chance-for-all/
- Inquiries are comprehensive pieces of analysis, generally taking 12-18 months to allow time for the Commission to engage extensively and effectively with interested parties and develop policy recommendations to Government.
- To date, the Productivity Commissions has completed 16 inquiries. The range of inquiries undertaken encompasses a broad range of issues, all critical to the wellbeing of New Zealanders. Find out more at: https://www.productivity.govt.nz/completed-inquiries/
- He Ara Waiora is a framework that helps the Treasury to understand waiora, often translated as a Māori perspective on wellbeing: https://www.treasury.govt.nz/information-and-services/nz-economy/higher-living-standards/he-ara-waiora