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This paper describes a major initiative in the Commonwealth of Kentucky to develop a statewide, standards-based, student report card for reporting the learning progress of individual students at all grade levels (K-12). Led by a team of researchers with expertise in grading and reporting, 36 educators from three diverse school districts created two reporting forms: one for elementary and another for secondary level. These reporting forms were piloted by 41 teachers who distributed both the new form and the traditional report card to parents/guardians during the school year. Information gathered through surveys administered to teachers, parents/guardians, and students was used to determine satisfaction with the new forms and to guide revisions. Plans are currently in place to expand applications and professional development, enhance technical support, and establish a basis for statewide implementation. (Contains 2 tables and 5 figures.)

Teachers at all levels of education today struggle in their efforts to assign fair, accurate, and meaningful grades to students with disabilities, especially those placed in general education classrooms. Lacking specific policies or recommendations, most teachers apply informal, individual grading adaptations for such students. Although these idiosyncratic adaptations are made to ensure continued effort and protect these students' self-images, the result is grades that communicate little about the students' actual performance or level of achievement. This article describes a 5-step process that teachers can use to provide fair and meaningful grades to students with disabilities within a standards-based classroom environment. Two additional resources for classroom use are listed. (Contains 1 figure.)

The purpose of this study was to determine in what ways the quality of individualized family service plans (IFSPs) would be affected by adding written prompts to an IFSP form and instruction manual. Two IFSPs were collected from 94 service coordinators before and after adding written prompts to the IFSP form and manual targeting three areas: (a) recording family routines, (b) recording families' priorities for emotional, material, and informational support, and (c) connecting routines and priorities to outcomes and procedures. Results of multivariate analyses of variance (MANOVA) for repeated measures indicated that the quality of IFSPs improved statistically significantly after document revision. Follow-up univariate tests showed statistically significant improvement in 8 of 12 indicators of IFSP quality. (Contains 1 figure and 4 tables.)

Grades, report cards, and other progress reports are important vehicles for communicating with families about their children's strengths, areas to target, and interventions that can be used at home. For families of children with disabilities, accurate information on learning progress is essential for understanding intervention effectiveness and making placement decisions. Of all required components of the Individualized Education Program, however, educators struggle most with progress monitoring and reporting. The current emphasis on standards-based grading has intensified the challenge of determining fair and accurate grades for students with disabilities. In this article, the authors present a five-step process for linking IEP goals to general curriculum standards and reporting student learning in a format that is clear and meaningful for families. (Contains 1 figure.)

The 1997 reauthorization of the Individuals with Disabilities Education Act requires early intervention programs to serve children in natural environments. Because of geography and resources, it is often impossible for service providers to visit rural families at home as frequently as families were seen via a center-based model. At first glance, reducing visits to rural families may appear to be a serious disadvantage. However, the most efficient route to more intervention is through intervention embedded in typical daily routines and delivered by natural caregivers. In a consultation delivery model, the professional uses the intervention time to teach caregivers strategies that allow them to maximize natural learning opportunities arising in their daily activities, giving the child continuous opportunities for intervention. Transdisciplinary intervention is a flexible, holistic approach in which team members teach and learn from one another to provide integrated intervention suggestions for caregivers. Professionals can determine the frequency and team configuration for home visits based upon how often strategies will likely need modification, how much support the caregivers want or need, and what type of support is needed. One example of a team configuration might include monthly visits by therapists and weekly visits by a special educator. Although the special educator would not be qualified to prescribe therapy, the special educator can assess the child's progress and the family's comfort with strategies to determine if the therapist needs to visit more often. (TD)

Bank deregulation in the form of the repeal of the Glass-Steagall Act facilitated the entry of non-bank lenders into the market for syndicated loans during the pre-2008 credit boom. Institutional investors disproportionately purchase tranches of loans originated by universal banks able to cross-sell loans and underwriting services to firms (as permitted by the repeal). A shock to cross-selling intensity increases loan liquidity at origination and over time. The mechanism is that non-loan exposures ensure monitoring even when banks retain small loan shares. Our findings complement the conventional view that regulatory arbitrage caused the rise of non-bank lenders. [ABSTRACT FROM AUTHOR]

We use machine learning techniques on textual data to identify financial crises. The onset of a crisis and its duration have implications for real economic activity, and as such can be valuable inputs into macroprudential, monetary, and fiscal policy. The academic literature and the policy realm rely mostly on expert judgment to determine crises, often with a lag. Consequently, crisis durations and the buildup phases of vulnerabilities are usually determined only with the benefit of hindsight. Although we can identify and forecast a portion of crises worldwide to various degrees with traditional econometric techniques and using readily available market data, we find that textual data helps in reducing false positives and false negatives in out-of-sample testing of such models, especially when the crises are considered more severe. Building a framework that is consistent across countries and in real time can benefit policymakers around the world, especially when international coordination is required across different government policies. [ABSTRACT FROM AUTHOR]

We investigate whether the bank examination process provides useful insight into bank future outcomes. We do this by conducting textual analysis on about 5,500 small to medium-sized commercial bank examination reports from 2004 to 2016. These confidential examination reports provide textual context to the components of supervisory ratings: capital adequacy, asset quality, management, earnings, and liquidity. Each component is given a categorical rating, and each bank is assigned an overall composite rating, which are used to determine the safety and soundness of banks. We find that, controlling for a variety of factors, including the ratings themselves, the sentiment supervisors express in describing most of the components predict relevant future bank outcomes. The sentiment conveyed in the asset quality, management, and earnings sections provides significant information in predicting future outcomes for problem loans, supervisory actions, and profitability, respectively, for all banks. Sentiment conveyed in the capital adequacy section appears to be predictive of future capital ratios for weak banks. These relationships suggest that bank supervisors play a meaningful role in the surveillance of the banking system. [ABSTRACT FROM AUTHOR]

We introduce a new software package for determining linkages between datasets without common identifiers. We apply these methods to three datasets commonly used in academic research on syndicated lending: Refinitiv LPC DealScan, the Shared National Credit Database, and S&P Global Market Intelligence Compustat. We benchmark the results of our match using results from the literature and previously matched files that are publicly available. We find that the company level matching is enhanced by careful cleaning of the data and considering hierarchical relationships. For loan level matching, a tailored approach based on a good understanding of the data can be better in certain dimensions than a more pure machine learning approach. The R package for the company level match can be found on Github at https://github.com/seunglee98/fedmatch. [ABSTRACT FROM AUTHOR]

We study how low interest rates in the United States affect risk taking in the market for cross-border corporate loans. Because banks tend to originate these loans with intent to sell to nonbank investors, we examine risk taking by the broad financial system. To the extent that actions of the Federal Reserve affect U.S. interest rates, our analysis provides evidence of cross-border spillover effects of U.S. monetary policy and highlights the global lending and risk-taking channels. We find that movements in the U.S. interest rates have an important effect on ex-ante credit risk of cross-border corporate loans, though the channels are different in the pre- and post-crisis periods. Before the crisis, banks made ex-ante riskier loans to non-U.S. borrowers in response to a decline in U.S. short-term interest rates, and, after it, banks and nonbanks originated such loans in response to a decline in U.S. longer-term interest rates. Economic uncertainty, risk appetite, and the U.S. dollar exchange rate appear to play a limited role in explaining ex-ante credit risk. Our results highlight the potential policy challenges faced by central banks in affecting credit risk cycles in their own jurisdictions. [ABSTRACT FROM AUTHOR]

We analyze how two types of recently used prudential policies affected the supply of credit in the United States. First, we test whether the U.S. bank stress tests had any impact on the supply of mortgage credit. We find that the first Comprehensive Capital Analysis and Review (CCAR) stress test in 2011 had a negative effect on the share of jumbo mortgage originations and approval rates at stress-tested banks--banks with worse capital positions were impacted more negatively. Second, we analyze the impact of the 2013 Supervisory Guidance on Leveraged Lending and subsequent 2014 FAQ notice, which clarified expectations on the Guidance. We find that the share of speculative-grade term-loan originations decreased notably at regulated banks after the FAQ notice. [ABSTRACT FROM AUTHOR]

We provide a framework for assessing the build-up of vulnerabilities to the U.S. financial system. We collect forty-four indicators of financial and balance-sheet conditions, cutting across measures of valuation pressures, nonfinancial borrowing, and financial-sector health. We place the data in economic categories, track their evolution, and develop an algorithmic approach to monitoring vulnerabilities that can complement the more judgmental approach of most official-sector organizations. Our approach picks up rising imbalances in the U.S. financial system through the mid-2000s, presaging the financial crisis. We also highlight several statistical properties of our approach: most importantly, our summary measures of system-wide vulnerabilities lead the credit-to-GDP gap (a key gauge in Basel III and related research) by a year or more. Thus, our framework may provide useful information for setting macroprudential policy tools such as the countercyclical capital buffer. [ABSTRACT FROM AUTHOR]

We study the existence and economic significance of bank lending channels that affect employment in U.S. manufacturing industries. In particular, we address the question of how a dramatic worsening of firm and consumer access to bank credit, such as the one observed over the Great Recession, translates into job losses in these industries. To identify these channels, we rely on differences in the degree of external finance dependence and of asset tangibility across manufacturing industries and in the sensitivity of these industries' output to changes in the supply of consumer credit. We show that household access to bank loans matters more for employment than firm access to local bank loans. Our results suggest that, over the recent financial crisis, tightening access to commercial and industrial loans and consumer installment loans explains jointly about a quarter of the drop in employment in the manufacturing sector. In addition, a decrease in the availability of home equity loans explains an extra one-tenth of the drop. [ABSTRACT FROM AUTHOR]