Número:
703
Publicado:
Clasificación JEL:
C15, C63, E47, G17, D81
Palabras clave:
Payments systems, Intraday, liquidity risk, Bivariate Poisson process

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Jaime Alfredo Bonet-Moron, Yuri Carolina Reina-Aranza, Adriana Ortega, Ana Rosa Polanco
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The most recent financial crisis unveiled that liquidity risk is far more important and intricate than regulation have conceived. The shift from bank-based to market-based financial systems and from Deferred Net Systems to liquidity-demanding Real-Time Gr