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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
Recent regulations in the U.S. and Europe incentivize the use of central counterparty clearing houses (CCP) to clear … to these regulations. The core values opacity more and adopts clearing less. Consequently, bilaterally netted exposures …
Persistent link: https://www.econbiz.de/10014238311
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
Financial markets face the constant threat of cyber attacks. We develop a principal-agent model of cyber-attacking with fee-paying clients who delegate security decisions to financial platforms. We derive testable implications about clients' vulnerability to cyber attacks and about the fees...
Persistent link: https://www.econbiz.de/10013277108
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 …
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High-value payment systems (HVPSs) are typically liquidity-intensive because the payment requests are indivisible and settled on a gross basis. Finding the right order in which payments should be processed to maximize the liquidity efficiency of these systems is an NP-hard combinatorial...
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framework was less dependent upon codified forms of regulation than it is today. Having explored the nature of clearing bank …Chapter 1: Introduction -- Chapter 2: The Nature of Clearing Bank Regulation -- Chapter 3: Context, rationale and … a group of 11 banks known as the London clearing banks. These banks included the ‘Big Five’ - Barclays, Lloyds, Midland …
Persistent link: https://www.econbiz.de/10012396942