Kim McPhail - Latest
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Managing Operational Risk in Payment, Clearing, and Settlement Systems
Awareness of operational risk has increased greatly in recent years, both at individual financial institutions and for payment, clearing, and settlement systems (PCSS). PCSS consist of networks of interconnected elements (i.e., central operators, participants, and settlement agents); operational problems at any one of the key elements have the potential to disrupt the system as a whole and negatively affect financial stability. -
Evaluating the Quarterly Projection Model: A Preliminary Investigation
This paper summarizes the results of recent research evaluating the Bank of Canada's Quarterly Projection Model (QPM).