We examine the importance of liquidity hoarding and counterparty risk in the US overnight
interbank market during the financial crisis of 2008. Our findings suggest that counterparty …

We explore the network topology of the federal funds market. This market is important for
distributing liquidity throughout the financial system and for the implementation of monetary …

With the aim to measure and monitor systemic risk, we present some topological metrics for
the interbank exposures and the payments system networks. The evolution of such networks …

We present new evidence on the structure of interbank connections across key markets:
derivatives, marketable securities, repo, unsecured lending and secured lending. Taken …

We empirically investigate the effect that relationship lending has on the availability and
pricing of interbank liquidity. Our analysis is based on a daily panel of unsecured overnight …

Financial institutions are highly interconnected. Consequently, they form complex systems
which are inherently unstable. This paper reviews empirical research on the instability of …

This paper provides evidence that interbank markets are tiered rather than flat, in the sense
that most banks do not lend to each other directly but through money center banks acting as …

This study addresses a critical regulatory shortfall by developing a platform to extend stress
testing from a microprudential approach to a dynamic, macroprudential approach. This …

Using a structural model, we estimate the liquidity multiplier of an interbank network and
banks' contributions to systemic risk. To provide payment services, banks hold reserves …

We examine the connective architecture of the main Colombian payment and settlement
systems in order to update what we know about local financial networks, and to elaborate on …