Análisis de redes aplicado al sistema de pagos de alto valor del BCCh

Álvaro González, Carmen López and María José Meléndez

Working Papers Central Bank of Chile from Central Bank of Chile

Abstract: This document measures the importance of each bank in the payment system network administrated the Central Bank of Chile (Sistema LBTR), using two indicators of network analysis. The indicators are based on the liquidity and contagion risk concentrated in each participant. During the 10 years of the sample (2012-2022), the importance of each participant has changed, highlighting the evolution of merged banks and some smaller ones. In terms of liquidity provision, there are important participants of the network that are not systemic based on alternative metrics, such as size of total assets. Finally, the document concludes that the 2022 payment network is more resilient than 2012 to individual liquidity shocks, since both indicators decrease their concentration, spreading among more participants. This document contributes to the monitoring of the risks present in the local RTGS system, presenting a methodology to calculate the degree of importance of each participant of the payment network.

Date: 2024-07
New Economics Papers: this item is included in nep-ipr and nep-pay
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Persistent link: https://EconPapers.repec.org/RePEc:chb:bcchwp:1021

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