The topology of interbank payment flows
We explore the network topology of the interbank payments transferred between commercial banks over the Fedwire® Funds Service. We find that the network has both a low average path length and low connectivity. The network includes a tightly connected core of banks to which most 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 events of September 11, 2001.
Volume (Year): 379 (2007)
Issue (Month): 1 ()
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- Lacker, Jeffrey M., 2004.
"Payment system disruptions and the federal reserve following September 11, 2001,"
Journal of Monetary Economics,
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