Scientific Monographs, Bank of Finland
Harry Leinonen (ed)
Simulation studies of liquidity needs, risks and efficiency in payment networks
Abstract: This publication consists of nine separate studies on
payment and settlement systems conducted using simulation techniques. Most
have been carried out using the payment and settlement system simulator
BoF-PSS2 provided by the Bank of Finland. The preliminary versions were
presented at the annual simulator seminars arranged by the Bank in 2005 and
2006. The main focus of the analyses is on liquidity requirements,
settlement speed, gridlock situations, gridlock resolution methods,
liquidity economising, systemic risk and the impact of shocks on system
performance as well as network analysis and modelling of payment systems.
The studies look at systems in several countries and cover both RTGS and
netting systems as well as securities settlement systems.
Keywords: simulation; payment and settlement system; payment networks; liquidity; gridlock; systemic risk; counterparty risk; (follow links to similar papers)
JEL-Codes: C15; C61; D53; G10; G18; G28; (follow links to similar papers)
325 pages, May 28, 2007
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