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Target2 - the European System for Large-Value Payments Settlement

Coletti, Matteo; Bramini, Paolo; Di Stasio, Francesco; … - 2023

TARGET2 is the main European platform for the settlement of large-value payments in central bank money open to Central banks and commercial banks participation. TARGET2 was a prerequisite of the Monetary Union establishment and is a pillar for its functioning, for the single monetary policy...

Persistent link: https://www.econbiz.de/10014355586

Central bank digital currency : motivations and implications

Engert, Walter; Fung, Ben Siu-cheong - 2017

The emergence of digital currencies such as Bitcoin and the underlying blockchain and distribution ledger technology have attracted significant attention. These developments have raised the possibility of considerable impacts on the financial system and perhaps the wider economy. This paper...

Persistent link: https://www.econbiz.de/10011759869

Shallow or Deep? Detecting Anomalous Flows in the Canadian Automated Clearing and Settlement System using an Autoencoder

Sabetti, Leonard - 2020

(deep) neural networks (autoencoder) to detect anomalous flows from payments data in the Canadian Automated Clearing and …

Persistent link: https://www.econbiz.de/10012836279

Quantifying the economic benefits of payments modernization: the case of the large-value payment system

Arjani, Neville; Li, Fuchun; Lu, Zhentong - 2021 - Last updated: December 17, 2021

In this paper, we develop a discrete choice framework to quantify the economic benefits of payments modernization in Canada. Focusing on Canada's large-value transfer system (LVTS), we first estimate participants' preferences for liquidity cost, payment safety and the network effect by...

Persistent link: https://www.econbiz.de/10012705088

Payment coordination and liquidity efficiency in the new Canadian wholesale payments system

Rivadeneyra, Francisco; Zhang, Nellie - 2022

A new wholesale payments system will launch in Canada in 2021. This real-time gross settlement system called Lynx will have two types of settlement mechanisms, one allowing offsetting and the other not. This paper studies the decision problem of the Bank of Canada: which of the two settlement...

Persistent link: https://www.econbiz.de/10012816119

Comparison between internal and electronic clearing systems for checks : a case study pertaining to the Iraqi banking industry

Huby, Maysaa saad Jawad; Ibrahim, Lamyaa Ali; Abbas, … - In: Financial internet quarterly 20 (2024) 3, pp. 70-90

Payment clearing is important to ensure that the payment is transferred or the cash from one bank account moves to the … other bank. The banking system in Iraq follows two sorts of clearance systems which are the IBCS (Inter Bank Clearing System …) and C-ACH (Check Automated Clearing House System). Though the Central Bank of Iraq (CBI) has already modernized the …

Persistent link: https://www.econbiz.de/10015077035

TARGET2 analytical tools for regulatory compliance

Glowka, Marc; Müller, Alexander; Friz, Livia Polo; … - 2022

As the operator of a systemically important payment system (SIPS), the Eurosystem has the responsibility of regularly assessing the resilience of the Trans-European Automated Real-time Gross Settlement Express Transfer System (TARGET2) to various types of risks, as set out in the Principles for...

Persistent link: https://www.econbiz.de/10013334640

Do large TARGET2 balances bear risks for the euro area?

Horst, Maximilian Julius; Neyer, Ulrike - In: Credit and capital markets : Kredit und Kapital 55 (2022) 1, pp. 3-34

Large increases in TARGET2 balances in the euro area since 2008 have led to concern and debate about the appropriate interpretation and policy reaction - in particular in TARGET2 creditor countries such as Germany. Against this background, we examine the main drivers of the increases and...

Persistent link: https://www.econbiz.de/10014518497

Cyber security and ransomware in financial markets

Ahnert, Toni; Brolley, Michael; Cimon, David; Riordan, Ryan - 2022 - Last updated: July 14, 2022

Financial markets face the constant threat of cyber attacks. We develop a principal-agent model of cyber-attacking with fee-paying clients who delegate security decisions to financial platforms. We derive testable implications about clients' vulnerability to cyber attacks and about the fees...

Persistent link: https://www.econbiz.de/10013277108

Transmission of cyber risk through the Canadian wholesale payment system

Kosse, Anneke; Lu, Zhentong - In: The journal of financial market infrastructures 10 (2022) 4, pp. 1-28

Persistent link: https://www.econbiz.de/10014538748