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Title:The topology of interbank payment flows PDF Logo
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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