Banks and financial market infrastructures (FMIs) that are not able to fulfill their payment obligations can be a source of financial instability. This paper develops a composite risk indicator to evaluate the criticality of participants in a large value payment system network, combining...

Large banks and critical financial market infrastructures (FMIs) that are not able to fulfill their payment obligations, for example following a bankruptcy or cyber-attack, can be a source of financial instability and contagion in the financial system. This paper develops a composite risk...