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.
Simulation studies of liquidity needs, risks and efficiency in payment networks: Proceedings from the Bank of Finland Payment and Settlement System Seminars 2005-2006
Chapter 1 Harry Leinonen Introduction 9 Chapter 2 Kimmo Soramaki - Walter Beyeler - Morten Bech - Rober Glass New approaches for payment system simulation research 15 Chapter 3 Fabien Renault - Jean-Baptiste Pecceu From PNS to TARGET2: the cost of FIFO in RTGS payment system 41 Chapter 4 Neville M. Arjani Examining the tradeoff between settlement delay and intraday liquidity in Canada's LVTS: a simulation approach 87 Chapter 5 Kei Imakubo - James J. McAndrews Funding levels for the new accounts in the BOJ-NET 123 Chapter 6 Ana Lasaosa - Merxe Tudela Risks and efficiency gains of a tiered structure in large-value payments: a simulation approach 149 Chapter 7 Stefan W Schmitz - Claus Puhr Risk concentration, network structure and contagion in the Austrian Real Time Interbank Settlement System 183 Chapter 8 Elisabeth Ledrut How can banks control their exposure to a failing participant? 227 Chapter 9 Darcey McVanel The impact of unanticipated defaults in Canada's Large Value Transfer System 253 Chapter 10 Matti Hellqvist - Heli Snellman Simulation of operational failures in equities settlement 283
Pasteurella haemolytica serotype 1 colonization of the nasal passages of virus-infected calves.
Nasal passages of calves with a virus-induced respiratory tract disease became colonized by Pasteurella haemolytica serotype 1 after they were inoculated intranasally with P haemolytica. Inoculation with infectious bovine rhinotracheitis virus caused a more severe clinical illness and resulted in a greater degree of colonization with P haemolytica than developed after inoculation with parainfluenza-3 virus. Nasal passages of parainfluenza-3 virus-inoculated calves were colonized to a greater degree with P haemolytica than were those of healthy, nonstressed calves. Calves were susceptible to P haemolytica colonization during or shortly after virus-induced illness, even though they had been previously exposed to P haemolytica and had serum antibody and nasal secretion antibody to P haemolytica.