Nepotism, corruption, conspiratorial concealment, greed and grotesque excesses all combine with what seems to have been a complete lack of appropriate controls and regulatory oversight that eventually distorted a European Utopian banking vision beyond all recognition

Political economists have traditionally been indifferent to the communicative construction of money and central banking in the public sphere. It does not matter to them whether monetary affairs become a rational game aimed at preserving the value of currency or take on the form of a medieval...

Jonathan Macey's recent article quot;Commercial Banking and Democracy: The Illusive Quest for Deregulationquot; offers such a problematic argument for banking regulation that it implies such regulation is losing its intellectual foundation

This paper studies cyclical patterns in risk indicators based on TARGET2 transaction data. These indicators provide information on network properties, operational aspects and links to ancillary systems. We compare the performance of two different ARIMA dummy models to the TBATS state space...

This paper identifies quantitative risks in financial market infrastructures (FMIs), which are inspired by the Principles for Financial Market Infrastructures. We convert transaction level data into indicators that provide information on operational risk, changes in the network structure and...

The first global cryptocurrency benchmarking study presents a systematic and comprehensive picture of a rapidly evolving industry, illustrating how cryptocurrencies are being used, stored, transacted and mined. The study gathered non-public data from more than 100 cryptocurrency companies and...

The history of banking refers to the development of banks and banking throughout history, with banking defined by contemporary sources as an organization which provides facilities for acceptance of deposits and provision of loans. Today, far too many banks create silos for each channel –...

The level and trend in cash use in a country will influence the demand for central bank digital currency (CBDC). While access to digital currency will be more convenient than traveling to an ATM, it only makes CBDC like a bank debit card-not better. Demand for digital currency will thus be weak...

This paper studies the detection of outliers in risk indicators based on large value payment system transaction data. The ten risk indicators are daily time series measuring various risks in the large value payment system, such as operational risk, concentration risk and liquidity flows related...

The classical cost-saving argument for fiduciary media as suggested among others by Adam Smith and David Ricardo has been turned into an argument for an unbacked fiat money system by the early Milton Friedman. It holds that the production of commodity money, such as gold, is inefficient, as it...