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|Title:||The topology of interbank payment flows |
Bech, Morten L.
Glass, Robert J.
Beyeler, Walter E.
|Issue Date:||2006 |
|Series/Report no.:||Staff Report, Federal Reserve Bank of New York 243|
|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.|
|Subjects:||network, topology, interbank, payment, Fedwire, September 11, 2001|
|Document Type:||Working Paper|
|Appears in Collections:||Staff Reports, Federal Reserve Bank of New York|
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