Rod Garratt

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An Application of Shapley Value Cost Allocation to Liquidity Savings Mechanisms

Staff Working Paper 2019-26 Rod Garratt
Liquidity demands in real-time gross settlement payment systems can be enormous. To reduce the liquidity requirement, central banks around the world have implemented liquidity savings mechanisms (LSMs).

Privacy as a Public Good: A Case for Electronic Cash

Staff Working Paper 2019-24 Rod Garratt, Maarten van Oordt
Cash gives users a high level of privacy when making payments, but the use of cash to make payments is declining. People increasingly use debit cards, credit cards or other methods to pay.

Entrepreneurial Incentives and the Role of Initial Coin Offerings

Staff Working Paper 2019-18 Rod Garratt, Maarten van Oordt
Initial coin offerings (ICOs) are a new mode of financing start-ups that saw an explosion in popularity in 2017 but declined in popularity in the second half of 2018 as regulatory pressure, instances of fraud and reports of poor performance began to undermine their reputation.
Content Type(s): Staff Research, Staff Working Papers Topic(s): Asset Pricing, Exchange rates JEL Code(s): G, G3, G32
May 25, 2017

Project Jasper: Are Distributed Wholesale Payment Systems Feasible Yet?

This report describes a joint endeavour between public and private sectors to explore a wholesale payment system based on distributed ledger technology (DLT). They find that a stand-alone DLT system is unlikely to be as beneficial as a centralized payment system in terms of core operating costs; however, it could increase financial system efficiency as a result of integration with the broader financial market infrastructure.

Which Bank is the "Central" Bank? An Application of Markov Theory to the Canadian Large Value Transfer System

Staff Working Paper 2008-42 Morten Bech, James Chapman, Rod Garratt
We use a method similar to Google's PageRank procedure to rank banks in the Canadian Large Value Transfer System (LVTS). Along the way we obtain estimates of the payment processing speeds for the individual banks.
Content Type(s): Staff Research, Staff Working Papers Topic(s): Payment clearing and settlement systems JEL Code(s): C, C1, C11, E, E5, E50, G, G2, G20

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