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Printable Handouts
Navigable Slide Index
- Introduction
- About the speaker
- Outline
- Advantages of simulation studies
- System complexity
- Network structure and interdependencies
- Payment systems and their participants
- Hidden risks and other characteristics
- Robustness towards shocks
- Pretesting policy changes/decisions
- General applicability of simulation models
- Summary of advantages
- Characteristics of payment systems
- 3 pure types of payment systems
- System type and cost structures
- All dimensions carry direct or indirect costs
- Mixed systems balance cost factors
- The effect of participants' decisions
- Gridlock resolution algorithms
- Risk mitigation and liquidity drainage limits
- System linkages and liquidity bridges
- Possible multisystem structures
- Back-up facilities
- Summary of system characteristics
- Simulator setups
- How true to nature?
- Input data starting points
- Categorisation of input data
- Simulated transaction flows
- Agent-based payment behavioural modelling
- Transaction driven simulations
- A typical simulation project structure
- Simulations are only simulations
- Summary of simulation setups
- Typical simulation studies
- Available payment & settlement simulation studies
- Typical oversight studies
- Example - Swiss Interbank Clearing
- Typical policy studies
- Example - risks and gains in CHAPS (UK)
- Typical operational studies
- Example - gridlock resolution in RTGS systems
- Typical basic research studies
- Example - impact of a hybrid receipt in CHAPS
- Summary of typical simulation studies
- Development visions
- Understanding payment processes better
- Improved behavioural modelling
- Deeper knowledge of critical risks
- Expanded simulation models
- Summary of development visions
- Further reading
- Thank you
- Oversight studies with publically available results
- Policy studies with publically available results
- Operational studies with publically available results
- Research studies with publically available results
Topics Covered
- Modern payment systems are highly complex with numerous interdependencies, hidden risks and other characteristics
- Simulation techniques have proved to be a good tool for analyzing many dimensions of payment and settlement systems and networks which are outside the reach of traditional calculus
- The most common payment system simulation setups are presented together with concrete examples
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Talk Citation
Leinonen, H. (2010, March 31). Simulation as a tool in studying payment and settlement systems [Video file]. In The Business & Management Collection, Henry Stewart Talks. Retrieved October 16, 2024, from https://doi.org/10.69645/BGEH5131.Export Citation (RIS)