Research Discussion Papers, Bank of Finland
No 23/2003:
Simulating interbank payment and securities settlement mechanisms with the BoF-PSS2 simulator
Harry Leinonen ()
and Kimmo Soramäki ()
Abstract: The simulation technique provides a new means for
analysing complex interdependencies in payment and securities settlement
processing. The Bank of Finland has developed a payment and settlement
system simulator (BoF-PSS2) that can be used for constructing simulation
models of payment and securities settlement systems.
This paper
describes the main elements of payment and settlement systems (system
structures, interdependencies, processing steps, liquidity consumption,
cost and risk dimensions) and how these can be treated in simulation
studies. It gives also examples on how these elements have been
incorporated in the simulator, as well as an overview of the structure and
the features of the BoF-PSS2 simulator.
Keywords: simulations; simulator; payment systems; clearing/settlement; liquidity; (follow links to similar papers)
60 pages, January 10, 2003
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