Simulation of automated real‐time gross interbank settlement
Abstract The aim of this paper is to analyze algorithms for the automated real‐time gross inter‐bank settlement (RTGS). One can change the efficiency of settlement systems by perfecting the processing of settlements and/or implementing rules for solving the gridlocks, or by applying the tools of refinancing and reservation. We focus on the settlement simulation of the Trans‐European Automated Real‐time Gross Settlement Express Transfer system (TARGET2). The system of modelling, simulation, and optimization of settlements (Baksys and Sakalauskas 2007b) is applied in the simulation of TARGET2, estimating the parameters of simulation according to the real data.
Federal Reserve Bank of New York Staff Reports Precautionary Demand and Liquidity in Payment Systems
In large-value real-time gross settlement payment systems, banks rely heavily on incoming funds to finance outgoing payments. Such reliance necessitates a high degree of coordination and synchronization. We construct a model of a payment system calibrated for the U.S. Fedwire system and examine the impact of realistic disruptions motivated by the recent financial crisis. In such settings, individually cautious behavior can have a significant and detrimental impact on the overall functioning of the payment system through a multiplier effect. Our results quantify the mutually reinforcing nature of greater caution, and allow comparative statics analysis of shifts in key parameters.
Data processing in microbiology: an integrated, simplified system.
A MUMPS based computer system is described for the processing of data in a microbiology laboratory. The system uses visual display units and mnemonic codes for data input. All functions are carried out within the department by the medical, technical, and clerical staff. While the system described is integrated with other user-systems in the hospital, it is readily adaptable, and portable to a stand-alone system.