Beyeler, Walter E.; Glass, Robert J.; Bech, Morten L.; … - 2006
payment system rules and policies under both normal and disrupted
conditions. A number of such studies are available in … immediately executed if it is received by a bank in Λ. We denote
this event using the indicator
{ }0,1E∈ and the complementary … event of an instruction arriving at
a non-liquid bank using H. Assuming deposits are close to their initial value, the …