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| Title: | | The topology of interbank payment flows  |
| Authors: | | Soramäki, Kimmo Bech, Morten L. Arnold, Jeffrey 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 |
| JEL: | | E59 E58 G1 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Staff Reports, Federal Reserve Bank of New York
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