The impact of the financial crisis on transfer systems

Y. Lucas

Quarterly selection of articles - Bulletin de la Banque de France, 2009, issue 14, 39-45

Abstract: During the financial crisis of the last few months, transfer systems have been faced with extreme, operating conditions. In spite of the scale of the shocks, transfer systems have functioned well and demonstrated their resilience. The financial crisis has also highlighted the importance of central counterparties.

Keywords: clearing; central counterparty; financial crisis; default; interdependencies; liquidity; settlement; financial stability; transfer systems and payment systems. (search for similar items in EconPapers)
JEL-codes: G14 G15 (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:bfr:quarte:2009:14:04

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