00000nam 2200000zi 4500 9.922341 CaOODSP 20230505145010 m o d f cr |n||||||||| 230505t20232023oncd ob f|0| 0 eng d CaOODSP eng rda CaOODSP eng eng fre n-cn--- FB3-5/2023-26E-PDF How banks create gridlock to save liquidity in Canada's large value payment system / by Rodney Garratt, Zhentong Lu and Phoebe Tian. [Ottawa] : Bank of Canada = Banque du Canada, 2023. ©2023 1 online resource (2, 42 pages) : charts text txt rdacontent computer c rdamedia online resource cr rdacarrier Staff working paper = Document de travail du personnel, 1701-9397 ; 2023-26 "Last updated: May 4, 2023." Includes bibliographical references (pages 31-32). "Using detailed data from Canada’s new high-value payment system (HVPS), we show how participants of the system save liquidity by exploiting the new gridlock resolution arrangement. These observed behaviors are consistent with the equilibrium of a “gridlock game” that captures the key incentives that participants face in the system. The findings have important implications for the design of HVPSs and shed light on financial institutions’ liquidity preference"--Abstract. Includes abstract in French. Electronic funds transfers Canada. Bank liquidity Canada. Transferts électroniques de fonds Canada. Banques Liquidité Canada. Bank of Canada, issuing body. Staff working paper (Bank of Canada) 2023-26. (CaOODSP)9.806221 PDF 1.70 MB https://publications.gc.ca/collections/collection_2023/banque-bank-canada/FB3-5-2023-26-eng.pdf