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Quantifying the economic benefits of payments modernization: the case of the large-value payment system
Arjani, Neville; Li, Fuchun; Lu, Zhentong - 2021 - Last updated: December 17, 2021
In this paper, we develop a discrete choice framework to quantify the economic benefits of payments modernization in Canada. Focusing on Canada's large-value transfer system (LVTS), we first estimate participants' preferences for liquidity cost, payment safety and the network effect by...
Persistent link: https://www.econbiz.de/10012705088
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Stablecoin assessment framework
García, Alejandro; Lands, Bena; Yanchus, Dennis - 2021
We outline a three-step framework to investigate stablecoin arrangements and quantitatively assess their risk. The first step is to classify the stablecoin arrangement into three parts-coin structure, transfer system(s) and financial service(s) - and categorize the attributes of each part. The...
Persistent link: https://www.econbiz.de/10012511072
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Safe payments
Chiu, Jonathan; Davoodalhosseini, Seyed Mohammadreza; … - 2020 - Last updated: December 10, 2020
We use a simple model to study whether private payment systems based on bank deposits can provide the optimal level of … safety. In the model, bank deposits backed by projects are subject to default risk that can be mitigated by a depositor's ex … ante and ex post monitoring. Safe payment instruments issued by a narrow bank can also be used as a back-up payment system …
Persistent link: https://www.econbiz.de/10012388751
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An economic perspective on payments migration
Kosse, Anneke; Lu, Zhentong; Xerri, Gabriel - 2020 - Last updated: June 5, 2020
Real-Time Rail (RTR). Lynx and SOE will replace the current Large Value Transfer System (LVTS) and Automated Clearing …
Persistent link: https://www.econbiz.de/10012243367
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Predicting payment migration in Canada
Kosse, Anneke; Lu, Zhentong; Xerri, Gabriel - 2020 - Last updated: September 14, 2020
Value Transfer System (LVTS) and the Automated Clearing Settlement System (ACSS). These systems will be replaced over the …
Persistent link: https://www.econbiz.de/10012286398
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Interbank asset-liability networks with fire sale management
Feinstein, Zachary; Halaj, Grzegorz - 2020 - Last updated: September 28, 2020
Superintendent of Financial Institutions, which allows us to run simulations of bank valuations and asset prices under a set of …
Persistent link: https://www.econbiz.de/10012291202
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The costs of point-of-sale payments in Canada
Kosse, Anneke; Chen, Heng; Felt, Marie-Hélène; … - 2017
This study provides insight into the costs of cash, debit card and credit card payments made at the point of sale in Canada in 2014. For each payment method, it examines the total resource costs, which capture the overall use of resources by society as a whole. Using extensive survey data from...
Persistent link: https://www.econbiz.de/10011630818
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Finding a needle in a haystack : a machine learning framework for anomaly detection in payment systems
Desai, Ajit; Kosse, Anneke; Sharples, Jacob - 2024 - Last updated: May 15, 2024
We propose a flexible machine learning (ML) framework for real-time transaction monitoring in high-value payment systems (HVPS), which are a central piece of a country's financial infrastructure. This framework can be used by system operators and overseers to detect anomalous transactions,...
Persistent link: https://www.econbiz.de/10014560400
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From LVTS to Lynx : quantitative assessment of payment system transition
Desai, Ajit; Lu, Zhentong; Rodrigo, Hiru; Sharples, Jacob; … - 2023 - Last updated: April 14, 2023
Modernizing Canada's wholesale payments system to Lynx from the Large Value Transfer System (LVTS) brings two key changes: (1) the settlement model shifts from a hybrid system that combined components of both real-time gross settlement (RTGS) and deferred net settlement (DNS) to an RTGS system;...
Persistent link: https://www.econbiz.de/10014253799
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Estimating the appropriate quantity of settlement balances in a floor system
Bulusu, Narayan; McNeely, Matthew; McRae, Kaetlynd; … - 2023
In April 2022, the Bank of Canada announced that it would continue to use a floor system to implement monetary policy … the deposit rate. In contrast, the Bank's guiding principles of prudence, transparency and neutrality, which govern the … rate close to the Bank's policy interest rate (which is equal to the deposit rate in a floor system). The second is an …
Persistent link: https://www.econbiz.de/10014392970