Gridlock resolution in interbank payment systems

Morten L. Bech and Kimmo Soramäki

No 9/2001, Bank of Finland Research Discussion Papers from Bank of Finland

Abstract: The paper analyses the severity of gridlocks in interbank payment systems operating on a real time basis and evaluates by means of simulations the merits of a gridlock resolution algorithm.Data used in the simulations consist of actual payments settled in the Danish and Finnish RTGS systems.The algorithm is found to be applicable to a real time environment and effective in reducing queuing in the systems at all levels of liquidity, but in particular when intra-day liquidity is scarce

Date: 2001
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