Systemic risk in the angolan interbank payment system : a network approach
Autor(a) principal: | |
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Data de Publicação: | 2020 |
Outros Autores: | , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.5/26294 |
Resumo: | In this work, we analyse the topology of the network of interbank payment flows settled via the real-time gross settlement system (RTGS) of the Angolan payment system (APS) during the fourth quarter of 2016, with the aim of discussing the APS resilience to systemic risk, focusing on its vulnerability in case of failures in the settlement of any bank payments. We conclude that (i) the Angolan RTGS payment network is sparse, characterized by low connectivity, (ii) it is a scale-free network with five banks with high connectivity, representing the main origin and destination of the settled transactions and concentrating about 47% of the total volume and amount of pay ments settled, which adds to contagion risk. However (iii) the systemic risk arising from the removal of a single participant from the network is low, since the largest bank in the system, with the greatest transacted volume and amount, accounts only for about 11% of the total transacted amounts. In addition, (iv) the adequate risk-mitigating operational processes of each of the RTGS subsystems safeguard the APS from systemic risk . |
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Systemic risk in the angolan interbank payment system : a network approachInterbank Payment NetworkSystemic RiskReal Time Gross Settlement SystemAngolaIn this work, we analyse the topology of the network of interbank payment flows settled via the real-time gross settlement system (RTGS) of the Angolan payment system (APS) during the fourth quarter of 2016, with the aim of discussing the APS resilience to systemic risk, focusing on its vulnerability in case of failures in the settlement of any bank payments. We conclude that (i) the Angolan RTGS payment network is sparse, characterized by low connectivity, (ii) it is a scale-free network with five banks with high connectivity, representing the main origin and destination of the settled transactions and concentrating about 47% of the total volume and amount of pay ments settled, which adds to contagion risk. However (iii) the systemic risk arising from the removal of a single participant from the network is low, since the largest bank in the system, with the greatest transacted volume and amount, accounts only for about 11% of the total transacted amounts. In addition, (iv) the adequate risk-mitigating operational processes of each of the RTGS subsystems safeguard the APS from systemic risk .Taylor & Francis GroupRepositório da Universidade de LisboaBorges, Maria RosaUlica, LaurianoGubareva, Mariya2022-11-29T15:18:07Z20202020-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/26294engBorges, Maria Rosa; Lauriano Ulica and Mariya Gubareva .(2020).”Systemic risk in the angolan interbank payment system: a network approach”. Applied Economics, Vol. 52, No. 45: pp. 4900–491210.1080/00036846.2020.1751052info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-03-06T14:55:46Zoai:www.repository.utl.pt:10400.5/26294Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T17:09:58.355218Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Systemic risk in the angolan interbank payment system : a network approach |
title |
Systemic risk in the angolan interbank payment system : a network approach |
spellingShingle |
Systemic risk in the angolan interbank payment system : a network approach Borges, Maria Rosa Interbank Payment Network Systemic Risk Real Time Gross Settlement System Angola |
title_short |
Systemic risk in the angolan interbank payment system : a network approach |
title_full |
Systemic risk in the angolan interbank payment system : a network approach |
title_fullStr |
Systemic risk in the angolan interbank payment system : a network approach |
title_full_unstemmed |
Systemic risk in the angolan interbank payment system : a network approach |
title_sort |
Systemic risk in the angolan interbank payment system : a network approach |
author |
Borges, Maria Rosa |
author_facet |
Borges, Maria Rosa Ulica, Lauriano Gubareva, Mariya |
author_role |
author |
author2 |
Ulica, Lauriano Gubareva, Mariya |
author2_role |
author author |
dc.contributor.none.fl_str_mv |
Repositório da Universidade de Lisboa |
dc.contributor.author.fl_str_mv |
Borges, Maria Rosa Ulica, Lauriano Gubareva, Mariya |
dc.subject.por.fl_str_mv |
Interbank Payment Network Systemic Risk Real Time Gross Settlement System Angola |
topic |
Interbank Payment Network Systemic Risk Real Time Gross Settlement System Angola |
description |
In this work, we analyse the topology of the network of interbank payment flows settled via the real-time gross settlement system (RTGS) of the Angolan payment system (APS) during the fourth quarter of 2016, with the aim of discussing the APS resilience to systemic risk, focusing on its vulnerability in case of failures in the settlement of any bank payments. We conclude that (i) the Angolan RTGS payment network is sparse, characterized by low connectivity, (ii) it is a scale-free network with five banks with high connectivity, representing the main origin and destination of the settled transactions and concentrating about 47% of the total volume and amount of pay ments settled, which adds to contagion risk. However (iii) the systemic risk arising from the removal of a single participant from the network is low, since the largest bank in the system, with the greatest transacted volume and amount, accounts only for about 11% of the total transacted amounts. In addition, (iv) the adequate risk-mitigating operational processes of each of the RTGS subsystems safeguard the APS from systemic risk . |
publishDate |
2020 |
dc.date.none.fl_str_mv |
2020 2020-01-01T00:00:00Z 2022-11-29T15:18:07Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10400.5/26294 |
url |
http://hdl.handle.net/10400.5/26294 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
Borges, Maria Rosa; Lauriano Ulica and Mariya Gubareva .(2020).”Systemic risk in the angolan interbank payment system: a network approach”. Applied Economics, Vol. 52, No. 45: pp. 4900–4912 10.1080/00036846.2020.1751052 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Taylor & Francis Group |
publisher.none.fl_str_mv |
Taylor & Francis Group |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
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RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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1799131196107522048 |