Central bank settlement systems are vital for payment intermediation and have an important role in monetary policy and financial stability. Few analyses exist that explain the purpose behind the payments that are settled in these systems. In this paper we categorise payments that settle in...

This simulator seminar book includes twelve chapters dealing with various aspects of quantitative analysis of financial market infrastructures. The topics include, among others, systemic risks, participant behavior, and new monitoring methods of various payment systems. The methodologies vary...

In our study we analysed the effect of the introduction of an instant payment system in Hungary, using a large number of transaction level data of an extended time period, simulating the operation of the payment system. We analysed the two main theoretical models of instant payments: instant...