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Risks and efficiency gains of a tiered structure in large-value payments : a simulation approach
Lasaosa, Ana (contributor); Tudela, Merxe (contributor) - 2008
Persistent link: https://www.econbiz.de/10003615992
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The network topology of CHAPS Sterling
Becher, Christopher (contributor);  … - 2008
In this paper, we seek to understand the network topology of large-value interbank payment flows in the United Kingdom so as to understand better the risks associated with the system. We first examined the broad network topology of interbank payments in the United Kingdom. We found that, despite...
Persistent link: https://www.econbiz.de/10003883925
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Banks' intraday liquidity management during operational outages : theory and evidence from the UK payment system
Merrouche, Ouarda (contributor); Schanz, Jochen (contributor) - 2009
We investigate how settlement banks in CHAPS, the United Kingdom's large-value payment system, deal with operational risk. In particular, we are interested in payments behaviour towards a bank that is, for operational reasons, unable to make but able to receive payments. If other banks did not...
Persistent link: https://www.econbiz.de/10003884700
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A market for intra-day funds : does it have implications for monetary policy?
Dale, Spencer - 1996
Persistent link: https://www.econbiz.de/10000591982
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Liquidity costs and tiering in large-value payment systems
Adams, Mark; Galbiati, Marco; Giansante, Simone - 2010
This paper develops and simulates a model of the emergence of networks in an interbank, RTGS payment system. A number of banks, faced with random streams of payment orders, choose whether to link directly to the payment system, or to use a correspondent bank. Settling payments directly on the...
Persistent link: https://www.econbiz.de/10003989525
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Liquidity-saving mechanisms and bank behaviour
Galbiati, Marco; Soramäki, Kimmo - 2010
This paper investigates the effect of liquidity-saving mechanisms (LSMs) in interbank payment systems. We model a stylised two-stream payment system where banks choose (a) how much liquidity to post and (b) which payments to route into each of two ‘streams’: the RTGS stream, and an LSM...
Persistent link: https://www.econbiz.de/10003989528
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System-wide liquidity risk in the United Kingdom’s large-value payment system : an empirical analysis
Perlin, Marcelo; Schanz, Jochen - 2011
Persistent link: https://www.econbiz.de/10009244134
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Capital stocks, capital services, and depreciation : an integrated framework
Oulton, Nicholas; Srinivasan, Sylaja - 2003
Persistent link: https://www.econbiz.de/10001775671
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Payment systems, inside money and financial intermediation
Merrouche, Ouarda (contributor); Nier, Erlend W. (contributor) - 2009
We assess the impact of introducing an efficient payment system on financial intermediation. Two channels are investigated. Innovations in wholesale payments technology enhance the security and speed of inside money as a payment medium for customers and therefore affect the split between...
Persistent link: https://www.econbiz.de/10003884704
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Comparing the pre-settlement risk implications of alternative clearing arrangements
Jackson, John P. (contributor); Manning, Mark J. (contributor) - 2007
clearing houses, accompanied by a trend towards consolidation in the clearing infrastructure. The financial stability … towards substantial risk-reduction benefits from multilateral clearing arrangements, arising from multilateral netting and … mutualisation. The paper also examines individual incentives to join multilateral clearing arrangements. We suggest that …
Persistent link: https://www.econbiz.de/10003440330