Non-monotonic Tradeoffs of Tiering in a Large Value Payment System

Número: 
946
Publicado: 
Clasificación JEL: 
E42
Palabras clave: 
Tiering, RTGS Payment Systems, Liquidity, Credit risk

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Lina Fernanda Torres-Gutierrez, Gonzalo Ossa-Stipcianos, Edwin Mauricio Parra-Rodriguez, Egberto Alexander Riveros, Alvaro José Martinez-Monroy, Julián Andrés Gomez-Duran, Juan Sebastián Rojas-Moreno

Even though international authorities encourage open and wide access to large value payment systems, the optimal level of access, or tiering, is still an open question. In the case of real-time gross settlement systems (RTGS) the level of access, or tieri