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GRA · 支付与市场基础设施

空间金融资本与危害、风险暴露和转型的交汇之处

支付与市场基础设施的支付与金融市场技术

Payments technology covers the 系统, messages and settlement mechanisms that move money and securities. On this platform it explains how design choices such as settlement asset, timing, messaging standard and liquidity tools shape risk in payment and market infrastructure.

提出咨询 Back to STEM foundation of Payments and Market Infrastructure
01登记

Payment and financial market technology at Payments and Market Infrastructure on the record.

方法记录STEM 方法
  1. 方法支付与金融市场技术
  2. 管理者支付与市场基础设施
  3. 应用于支付与市场基础设施
  4. 数据3 inputs
  6. 规范页面STEM 公共资源
02申请

What payment and financial market technology does here.

Payment and financial market technology covers the 系统 that clear and settle transactions and support trading. Their continuity is essential for economic activity and crisis response. In financial stability, cyber and digital resilience and digital public infrastructure, payments analysis shows how operational outages or cyber events can freeze liquidity across the economy. It informs resilience standards and contingency arrangements. The canonical description is on STEM Commons.

Liquidity-saving mechanisms

Queues and offsetting algorithms in large-value systems are analysed for how much intraday liquidity they save and how they behave under participant stress.

ISO 20022 data quality

Structured message fields are examined for how they improve screening, reconciliation and straight-through processing across borders.

Settlement cycle design

Effects of moving to shorter settlement cycles on funding, fails and operations are compared across markets that have changed.

03压力测试

资产冲击如何演变为系统性损失。

银行间传染之后系统损失的权益，相对于最初的冲击，随杠杆、互联程度和回收率变化而变化，这是宏观审慎 压力测试的核心。这是带有明示示意数值的教学模型，不是预测。

控制措施

外部资产下降
2.0%
杠杆率（资产与权益之比）
10 倍
银行间资产占比
10%
银行间债权的回收
40%
体系内的银行
20
核心银行
占银行的 20%

读数

初始冲击造成的权益损失
18.0%
传染后的权益损失
45.0%
传染新增（DebtRank）
27.0 个点
违约银行
0
数字、方法与来源
轮次系统权益损失（%）违约银行
018.000
128.800
235.280
339.170
441.500
542.900
643.740
744.240
844.550
944.730
1044.840
1144.900
1244.940
1344.960
1444.980
1544.990
1644.990
1745.000
1845.000
1945.000
2045.000
2145.000
2245.000
2345.000
2445.000
2545.000
2645.000
2745.000
2845.000
2945.000
3045.000

方法

  1. DebtRank Battiston 等（2012），Scientific Reports 2:541
  2. 差异化 DebtRank Bardoscia and others (2015), PLOS ONE 10
  3. 金融网络中的传染 Gai and Kapadia (2010), Proc. R. Soc. A 466
  4. 金融网络中的清算 Eisenberg 和 Noe（2001），Management Science 47
  5. 不确定性扇形图（参数蒙特卡罗） Spiegelhalter, Pearson and Short (2011), Visualising uncertainty about the future, Science 333
  6. 单因素敏感性（龙卷风图） Saltelli and others (2008), Global Sensitivity Analysis: The Primer, Wiley

数据

No observed data enters this model: it runs on the teaching values set by the controls, to be replaced with a programme’s own evidence.

资产冲击如何演变为系统损失。示意性教学模型：它依据控件设定的数值运行，而不是实测数据。方法：DebtRank（Battiston 等（2012），Scientific Reports 2:541）；Differential DebtRank（Bardoscia 等（2015），PLOS ONE 10）；金融网络中的传染（Gai 和 Kapadia（2010），Proc. R. Soc. A 466）。

贯穿六大支柱，由 Nexus Consortium 牵头

04数据

该方法使用的输入。

Datasets and records used by payment and financial market technology on this platform, with the role each plays and the label its values carry. Sources are listed in 来源登记册.

数据角色标签
Payment system statisticsVolumes and values已发布统计
Message standards documentationData structure已发布统计
Settlement fail dataSettlement performance已发布统计
05风险暴露、损失与资本

What it means for exposure, loss and capital.

风险官、监管者或财政部会要求的风险暴露、损失、情景和资本视图，以及它们据以报告的框架。结构遵循监管和精算实务。数值为说明性：绝非价格、评级或建议。

传导渠道

How a shock in Payment and financial market technology at Payments and Market Infrastructure reaches credit, market, underwriting, liquidity and operational risk, and feeds back.

Channel structure after the Basel Committee’s work on climate-related risk drivers and transmission channels; links shown are typical paths, not estimated exposures.
NGFS 气候情景 · 央行与监管机构绿色金融网络IFRS S2 气候相关披露 · ISSBTCFD 建议 · 金融稳定理事会 TCFD有效管理气候相关金融风险的原则 · 巴塞尔银行监管委员会
06验证

结果如何核查。

系统 are tested through failover exercises, liquidity simulations and supervisory oversight. Reconciliation checks the integrity of settled positions.

核查如何开展
Design documentationAnalyses state the version of rules and standards examined
ComparabilityStatistics are reconciled across systems before comparison
Operator reviewTechnical descriptions are checked against published system rules

Interdependence among participants and third-party providers can produce unexpected failures. Simulations may not capture behavioural responses under stress.

07关联

依赖该方法的主题。

08管理责任

由谁维护该方法。

Payments and Market Infrastructure stewards payment and financial market technology for the Consortium and reviews how it is applied across platforms.

Canonical page: Payment and financial market technology

09问题

问题与解答。

What are the limits of payment and financial market technology in this field?
Interdependence among participants and third-party providers can produce unexpected failures. Simulations may not capture behavioural responses under stress.
结果如何核查？
Systems are tested through failover exercises, liquidity simulations and supervisory oversight. Reconciliation checks the integrity of settled positions.
本页面上的数值是真实的吗？
The data names, roles and checks are real descriptions of practice. The canvas shows a design of the method’s use, not a run; no result is reported here.
该方法还应用于何处？
维持社会运转的各个 规范方法页面 列出应用该方法的每个平台。
报告贡献

从本页贡献证据。

报告 is the Consortium’s quarterly publication. What you know about this subject can become evidence, a case or a correction in the next edition, credited to you and published under CC BY 4.0 where it is your own work.

全球风险联盟（Global Risks Alliance）支付与市场基础设施战略系统情景与压力测试

切勿发送个人数据、敏感基础设施细节或您无权分享的任何内容。贡献在使用前会经过审查；发送贡献不赋予署名权或编辑权，赞助也绝不能换取研究结论。

支付与市场基础设施

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