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Network vulnerabilities and risks in the retail payment system

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Author Info
Catharine Lemieux
Abstract

Changes in retail payments technology will impact the operational risk of commercial banks. This study provides a more in-depth discussion of the ramifications these changes have for bank supervision and policy makers. In addition to operational risk concerns identified by previous researchers, this paper identifies network vulnerabilities as a potential resiliency concern.

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File URL: http://www.chicagofed.org/publications/publicpolicystudies/emergingpayments/pdf/eps-2003-1F.pdf
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Publisher Info
Article provided by Federal Reserve Bank of Chicago in its journal Emerging Issues.

Volume (Year): (2003)
Issue (Month): ()
Pages:
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Handle: RePEc:fip:fedhei:y:2003:n:eps-2003-1f

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Related research
Keywords: Payment systems ; Bank supervision;

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This item is featured on the following reading lists:
  1. Technology Assessment
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Paul Kellogg, 2003. "Evolving operational risk management for retail payments," Emerging Issues, Federal Reserve Bank of Chicago. [Downloadable!]
  2. Robert DeYoung & Mark J. Flannery & William W. Lang & Sorin M. Sorescu, 1998. "The informational advantage of specialized monitors: the case of bank examiners," Working Paper Series WP-98-4, Federal Reserve Bank of Chicago. [Downloadable!]
  3. Sujit Chakravorti & Emery Kobor, 2003. "Why invest in payment innovations?," Emerging Issues, Federal Reserve Bank of Chicago, issue Jun. [Downloadable!]
  4. Tara Rice, 2003. "The importance of payments-driven revenues to franchise value and in estimating bank performance," Emerging Issues, Federal Reserve Bank of Chicago. [Downloadable!]
  5. William Roberds, 1998. "The impact of fraud on new methods of retail payment," Economic Review, Federal Reserve Bank of Atlanta, issue Q 1, pages 42-52. [Downloadable!]
  6. Loretta J. Mester, 2000. "The changing nature of the payments system: should new players mean new rules?," Business Review, Federal Reserve Bank of Philadelphia, issue Mar, pages 3-26. [Downloadable!]
  7. JAMES J. McANDREWS, 1999. "E-Money And Payment System Risks," Contemporary Economic Policy, Western Economic Association International, vol. 17(3), pages 348-357, 07. [Downloadable!] (restricted)
  8. Marvin S. Goodfriend, 1988. "Money, credit, banking, and payment system policy," Proceedings, Federal Reserve Bank of Richmond, pages 247-284.
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  9. Kenneth N. Kuttner & James J. McAndrews, 2001. "Personal on-line payments," Economic Policy Review, Federal Reserve Bank of New York, issue Dec, pages 35-50. [Downloadable!]
  10. Mark Flannery, 1998. "Modernizing financial regulation (again)," Proceedings, Federal Reserve Bank of San Francisco, issue Sep.
  11. Tara Rice & Kristin Stanton, 2003. "Estimating the volume of payments-driven revenues," Emerging Issues, Federal Reserve Bank of Chicago. [Downloadable!]
  12. Terri Bradford & Matt Davies & Stuart E. Weiner, 2002. "Nonbanks in the payments system," Payments System Research Working Paper PSR WP 02-02, Federal Reserve Bank of Kansas City. [Downloadable!]
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