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Liquidity, risks and speed in payment and settlement systems: a simulation approach

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  • Leinonen, Harry

Abstract

This publication consists of eleven separate studies on payment and settlement systems conducted using simulation techniques. Most have been carried out using the payment and settlement system simulators BoF-PSS1 or BoF-PSS2 provided by the Bank of Finland and presented at the simulator seminars arranged by the Bank. The main focus in the analyses is on liquidity requirements, settlement speed, gridlock situations, gridlock resolving methods, liquidity economising, systemic risk, and the impact of shocks on system performance. The studies look at systems in several countries and cover both RTGS and netting systems as well as securities settlement systems.

Suggested Citation

  • Leinonen, Harry (ed.), 2005. "Liquidity, risks and speed in payment and settlement systems: a simulation approach," Bank of Finland Scientific Monographs, Bank of Finland, volume 0, number sm2005_031, December.
    • Handle: RePEc:zbw:bofism:sm2005_031
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    References listed on IDEAS

    as
    1. Kortelainen, Mika, 2002. "Edge : A model of the euro area with applications to monetary policy," Scientific Monographs, Bank of Finland, number 2002_023.
    2. Spolander, Mikko, 1999. "Measuring exchange market pressure and central bank intervention," Scientific Monographs, Bank of Finland, number 17/1999.
    3. Leinonen, Harry, 2005. "Liquidity, risks and speed in payment and settlement systems : a simulation approach," Scientific Monographs, Bank of Finland, number 2005_031.
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    9. Virolainen, Kimmo, 1998. "Tax incentives and corporate borrowing : Evidence from finnish company panel data," Scientific Monographs, Bank of Finland, number 1998_010.
    10. Takala, Kari, 2001. "Studies in time series analysis of consumption, asset prices and forecasting," Scientific Monographs, Bank of Finland, number 2001_022.
    11. Schmiedel, Heiko, 2004. "Performance of international securities markets," Scientific Monographs, Bank of Finland, number 2004_028.
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    15. Brunila, Anne, 1997. "Fiscal policy and private consumption : Saving decisions : European evidence," Scientific Monographs, Bank of Finland, number 1997_008.
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