The Banque de France and the European Central Bank will be jointly hosting a conference on 'Liquidity in interdependent transfer systems' on 9-10 June 2008 in Paris.
In the field of payments, financial globalization has manifested itself in a number of ways, such as: the emergence of cross-border payment systems and offshore systems; increasing demand for multicurrency services; the establishment of cross-system links; multiple system memberships among large international firms; and a trend towards international consolidation of infrastructures.
Financial globalization has also increased the complexity of the financial sector, creating a growing number of interdependencies between systems. More and more, settlement flows, operational processes and risk management procedures of one system, institution or market are related to those of others. While interdependencies can improve the safety and efficiency of payment and settlement processes, they may also serve as channels for spreading operational or financial disruptions.
The objective of the conference is to improve the understanding of the implications of these evolutions for financial stability as well as economic analysis. To that end, the workshop organizers invite submissions of original papers from interested economists - whether in academia, central banks or financial institutions - covering one of the following themes:
Updated on: 10/12/2017 10:31