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The purpose of the work is to provide a comprehensive review of the digital image correlation (DIC) technique for those who are interested in performing the DIC technique in the area of manufacturing.

No methodology was used because the paper is a review article.

no fundings.

Herein, the historical development, main strengths and measurement setup of DIC are introduced. Subsequently, the basic principles of the DIC technique are outlined in detail. The analysis of measurement accuracy associated with experimental factors and correlation algorithms is discussed and some useful recommendations for reducing measurement errors are also offered. Then, the utilization of DIC in different manufacturing fields (e.g. cutting, welding, forming and additive manufacturing) is summarized. Finally, the current challenges and prospects of DIC in intelligent manufacturing are discussed.

In this paper the interconnectedness among financial institutions and the level of systemic risks of four types of Chinese financial institutions are investigated.

By the means of RAS algorithm, the interconnection among financial institutions are illustrated. Different methods, including Linear Granger, Systemic impact index (SII), vulnerability index (VI), CoVaR, and MES are used to measure the systemic risk exposures across different institutions.

The results illustrate that big banks are more interconnected and hold the biggest scales of inter-bank transactions in the financial network. The institutions which have larger size tend to have more connection with others. Insurance and security companies contribute more to the systemic risk where as other institutions, such as trusts, financial companies, etc. may bring about severe loss and endanger the financial system as a whole.

Since other institutions with low levels of regulation may bring about higher extreme loss and suffer the whole system, it deserves more attention by regulators considering the contagion of potential risks in the financial system.

This study builds a valuable contribution by examine the systemic risks from the perspectives of both interconnection and tail risk measures. Furthermore; Four types financial institutions are investigated in this paper.