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 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 …

We lay out and simulate a multi-agent, multi-period model of an RTGS payment system. At
the beginning of the day, banks choose how much costly liquidity to allocate to the …

Financial institutions such as banks regularly forecast the amount of finances an individual
will have in his/her account in the near future. This can help banks in categorizing their …

Person to Person transactions have come a long way from trading goods, then to cash and
now the possibility of online transactions. In the era of the internet, individuals often make …

In this article we describe the network properties of the Korean Interbank payment system
(BOK-Wire+), apply existing methodologies for identifying systemically important banks and …

Financial transactions are the fundamental unit of economic activity, and we would like to be
able to study how many millions of transactions come together to create economies as a …

Payment systems play a key role in the financial infrastructure of all modern economies.
Participants of payment and other settlement systems need access to intraday liquidity to …

Banks must provide costly intraday liquidity in order to settle payments in real-time gross
settlement systems. They can provide this liquidity themselves, or they can wait for incoming …

It can be difficult to tell to what extent an individual bank's liquidity provision is intentional
and to what extent it results from external factors that are beyond its control. We describe two …