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The topology of interbank payment flows

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Author Info
Kimmo Soramaki
Morten L. Bech
Jeffrey Arnold
Robert J. Glass
Walter Beyeler

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Abstract

We explore the network topology of the interbank payments transferred between commercial banks over the Fedwire Funds Service. We find that the network is compact despite low connectivity. The network includes a tightly connected core of money-center banks to which all other banks connect. The degree distribution is scale-free over a substantial range. We find that the properties of the network changed considerably in the immediate aftermath of the attacks of September 11, 2001.

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Publisher Info
Paper provided by Federal Reserve Bank of New York in its series Staff Reports with number 243.

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Date of creation: 2006
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Handle: RePEc:fip:fednsr:243

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Related research
Keywords: Fedwire Payment systems Electronic funds transfers Banking structure

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  1. Elisabeth Ledrut, 2007. "Simulating retaliation in payment systems: Can banks control their exposure to a failing participant?," DNB Working Papers 133, Netherlands Central Bank, Research Department. [Downloadable!]
  2. Walter E. Beyeler & Robert J. Glass & Morten L. Bech & Kimmo Soramaki, 2006. "Congestion and cascades in payment systems," Staff Reports 259, Federal Reserve Bank of New York. [Downloadable!]
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This page was last updated on 2008-7-23.

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