Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/82361
Authors: 
Bech, Morten L.
Madsen, Bo
Natorp, Lone
Year of Publication: 
2002
Series/Report no.: 
Danmarks Nationalbank Working Papers 8
Abstract: 
Central banks have become increasingly worried about systemic risks to the financial market and infrastructure stemming from payment systems. Failure to settle by a participant in a netting system can potentially jeopardize the settlement of other participants. The fear of a systemic crisis has been one of the primary motivations for the introduction of Real Time Gross Settlement systems around the world. This paper provides an assessment of the systemic risk inherent in the Danish interbank netting system. In accordance with similar empirical studies conducted in other European countries, the risk is found to be low.
Subjects: 
payment system
systemic risk
netting
Document Type: 
Working Paper

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