Morten L. Bech

Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures

Principal Economist

Centralbahnplatz 2

Basel, Basel-Stadt 4002

Switzerland

SCHOLARLY PAPERS

27

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4,427

CITATIONS
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SSRN RANKINGS

Top 5,240

in Total Papers Citations

99

Scholarly Papers (27)

1.
Downloads 363 ( 68,698)
Citation 23

The Topology of the Federal Funds Market

FRB of New York Staff Report No. 354
Number of pages: 32 Posted: 12 Nov 2008
Morten L. Bech and Enghin Atalay
Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures and University of Chicago - Department of Economics
Downloads 195 (132,612)
Citation 23

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federal funds, network, topology, interbank, money markets

The Topology of the Federal Funds Market

ECB Working Paper No. 986
Number of pages: 39 Posted: 02 Feb 2009
Morten L. Bech and Enghin Atalay
Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures and University of Chicago - Department of Economics
Downloads 168 (152,103)
Citation 23

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network, topology, interbank, money market

2.

Technology Diffusion within Central Banking: The Case of Real-Time Gross Settlement

FRB of New York Staff Report No. 260
Number of pages: 35 Posted: 27 Sep 2006
Morten L. Bech and Bart Hobijn
Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures and ASU
Downloads 232 (94,537)
Citation 10

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central bank, technology, diffusion, S-curve, payment systems, RTGS

3.

Intraday Liquidity Management: A Tale of Games Banks Play

Economic Policy Review, Vol. 14, No. 2, September 2008
Number of pages: 17 Posted: 09 Jun 2008
Morten L. Bech
Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures
Downloads 225 (101,932)
Citation 3

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payments, RTGS, liquidity, prisoner's dilemma, stag hunt

4.

Gridlock Resolution in Interbank Payment Systems

Bank of Finland Working Paper No. 9/2001
Number of pages: 34 Posted: 30 Jun 2001
Kimmo Soramaki and Morten L. Bech
European Central Bank (ECB) and Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures
Downloads 208 (105,822)
Citation 7

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payment systems, liquidity, gridlock, algorithms, settlement

5.

The Federal Home Loan Bank System: The Lender of Next-to-Last Resort?

FRB of New York Staff Report No. 357, Federal Reserve Bank of Atlanta Working Paper No. 2009-4
Number of pages: 48 Posted: 02 Dec 2008
Adam B. Ashcraft, Morten L. Bech and W. Scott Frame
Federal Reserve Bank of New York, Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures and Federal Reserve Bank of Atlanta
Downloads 194 (121,718)
Citation 14

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Federal Home Loan Bank, government-sponsored enterprise, lender of last resort, liquidity

Arbitrage, Liquidity and Exit: The Repo and Federal Funds Markets Before, During, and After the Financial Crisis

Paolo Baffi Centre Research Paper No. 2011-99
Number of pages: 46 Posted: 12 Jul 2011
Morten L. Bech, Elizabeth Klee and Viktors Stebunovs
Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 121 (199,972)
Citation 1

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Arbitrage, Liquidity and Exit: The Repo and Federal Funds Markets Before, During, and Emerging from the Financial Crisis

FEDS Working Paper No. 2012-21
Number of pages: 55 Posted: 10 May 2012 Last Revised: 23 May 2012
Elizabeth Klee, Viktors Stebunovs and Morten L. Bech
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures
Downloads 70 (287,842)
Citation 1

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Repurchase agreement, federal funds, financial crisis, monetary policy implementation, exit strategy

7.

Global Trends in Large-Value Payments

Economic Policy Review, Vol. 14, No. 2, September 2008
Number of pages: 23 Posted: 09 Jun 2008
Morten L. Bech, Christine Preisig and Kimmo Soramaki
Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures, Federal Reserve Banks - Federal Reserve Bank of New York and European Central Bank (ECB)
Downloads 185 (118,884)
Citation 2

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large-value payments systems, real-time gross settlement, hybrid payments systems, offshore systems, cross-border systems, CLS Bank, technological innovation, structural change in banking, central bank policies

8.

On the Liquidity Coverage Ratio and Monetary Policy Implementation

BIS Quarterly Review December 2012
Number of pages: 13 Posted: 10 Apr 2013
Todd Keister and Morten L. Bech
Rutgers, The State University of New Jersey - Department of Economics and Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures
Downloads 168 (58,763)
Citation 1

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9.

Profits and Balance Sheet Developments at U.S. Commercial Banks in 2008

Federal Reserve Bulletin, June 2009
Number of pages: 41 Posted: 18 Jul 2009 Last Revised: 20 Jul 2009
Morten L. Bech and Tara Rice
Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures and Board of Governors of the Federal Reserve System
Downloads 167 (136,069)
Citation 3

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profitability, U.S. commercial banks

10.

Illiquidity in the Interbank Payment System Following Wide-Scale Disruptions

FRB of NY Staff Report No. 239
Number of pages: 30 Posted: 13 Mar 2006
Morten L. Bech and Rod Garratt
Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures and University of California, Santa Barbara - Department of Economics
Downloads 163 (145,955)
Citation 8

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payments, stag hunt, network, topology, moral suasion, too big to fail

The Mechanics of a Graceful Exit: Interest on Reserves and Segmentation in the Federal Funds Market

FRB of New York Staff Report No. 416
Number of pages: 59 Posted: 27 Dec 2009
Morten L. Bech and Elizabeth Klee
Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures and Board of Governors of the Federal Reserve System
Downloads 64 (302,321)
Citation 8

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federal funds, segmentation, interest on reserves, corridor system, exit strategy

The Mechanics of a Graceful Exit: Interest on Reserves and Segmentation in the Federal Funds Market

FEDS Working Paper No. 07
Number of pages: 65 Posted: 09 Mar 2011
Elizabeth Klee and Morten L. Bech
Board of Governors of the Federal Reserve System and Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures
Downloads 45 (358,256)
Citation 8

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Federal funds, segmentation, interest on reserves, corridor system, exit strategy

12.

Monetary Policy in a Downturn: Are Financial Crises Special?

BIS Working Paper No. 388
Number of pages: 25 Posted: 02 Oct 2012
Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures, Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 100 (210,919)
Citation 2

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monetary policy, financial crisis, recession, deleveraging

13.

FX Volume During the Financial Crisis and Now

BIS Quarterly Review, March 2012
Number of pages: 11 Posted: 11 Sep 2012
Morten L. Bech
Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures
Downloads 87 (203,052)

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14.

Congestion and Cascades in Payment Systems

FRB of New York Staff Report No. 259
Number of pages: 39 Posted: 27 Sep 2006
Sandia National Laboratories, Sandia National Laboratories, Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures and European Central Bank (ECB)
Downloads 83 (250,305)
Citation 8

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network, topology, interbank, payment, money market, sandpile model

15.

Liquidity Regulation and the Implementation of Monetary Policy

BIS Working Paper No. 432
Number of pages: 41 Posted: 27 Feb 2014
Morten L. Bech and Todd Keister
Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures and Rutgers, The State University of New Jersey - Department of Economics
Downloads 71 (177,433)

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Basel III, Liquidity regulations, LCR, Reserves, Corridor system, Monetary policy

16.

The Financial Crisis and the Changing Dynamics of the Yield Curve

BIS Paper No. 65o
Number of pages: 20 Posted: 20 Jun 2012
Morten L. Bech and Yvan Lengwiler
Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures and University of Basel - Faculty of Business and Economics (WWZ)
Downloads 59 (289,305)
Citation 1

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Term structure of interest rates, financial crisis, interest rate dynamics, LSAP, unconventional monetary policy

17.

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

FRB of New York Staff Report No. 356
Number of pages: 20 Posted: 02 Dec 2008
Morten L. Bech, James T. E. Chapman and Rod Garratt
Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures, Government of Canada - Bank of Canada and University of California, Santa Barbara - Department of Economics
Downloads 49 (319,274)
Citation 1

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federal funds, network, topology, interbank, money markets

18.

FX Market Trends Before, Between and Beyond Triennial Surveys

BIS Quarterly Review, December 2013
Number of pages: 10 Posted: 28 Apr 2014
Morten L. Bech and Jhuvesh Sobrun
Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures and Bank for International Settlements (BIS)
Downloads 40 (291,576)

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19.

Mapping Change in the Federal Funds Market

FRB of New York Staff Report No. 507
Number of pages: 14 Posted: 26 Aug 2011
Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures, University of Washington, Independent and Umea University Deptartment of Physics
Downloads 31 (368,557)

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federal funds market, lending, payment, networks, clustering, map equation

20.

On the Economics of Committed Liquidity Facilities

BIS Working Paper No. 439
Number of pages: 29 Posted: 27 Feb 2014
Morten L. Bech and Todd Keister
Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures and Rutgers, The State University of New Jersey - Department of Economics
Downloads 27 (339,663)

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Basel III, liquidity regulation, liquidity premium, liquidity coverage ratio, committed liquidity facility

21.

Settlement Liquidity and Monetary Policy Implementation — Lessons from the Financial Crisis

Economic Policy Review, Vol. 18, No. 1, 2012
Number of pages: 25 Posted: 13 Sep 2013
Morten L. Bech, Antoine Martin and James McAndrews
Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures, Federal Reserve Bank of New York - Research and Statistics and Federal Reserve Bank of New York
Downloads 14 (398,448)

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monetary policy, liquidity, Fedwire, credit risk, payment system, monetary policy

22.

Central Bank Cryptocurrencies

BIS Quarterly Review September 2017
Number of pages: 16 Posted: 26 Sep 2017
Morten L. Bech and Rodney Garratt
Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures and University of California Santa Barbara
Downloads 0 (223,878)

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23.

Gridlock Resolution in Interbank Payment Systems

Bank of Finland Research Discussion Paper No. 9/2001
Number of pages: 34 Posted: 17 Aug 2017 Last Revised: 27 Aug 2017
Morten L. Bech and Kimmo Soramäki
Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures and Financial Network Analytics (FNA)
Downloads 0 (522,627)
Citation 7

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24.

The Quest for Speed in Payments

BIS Quarterly Review March 2017
Number of pages: 12 Posted: 20 Mar 2017
Morten L. Bech, Yuuki Shimizu and Paul Wong
Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures, Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures and Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures
Downloads 0 (245,084)

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25.

Hanging Up the Phone - Electronic Trading in Fixed Income Markets and its Implications

BIS Quarterly Review March 2016
Number of pages: 16 Posted: 09 Mar 2016
Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures, Bank for International Settlements (BIS), Bank for International Settlements (BIS) - Monetary and Economic Department and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 0 (161,187)

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26.

How Have Central Banks Implemented Negative Policy Rates?

BIS Quarterly Review March 2016
Number of pages: 14 Posted: 09 Mar 2016
Morten L. Bech and Aytek Malkhozov
Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures and Board of Governors of the Federal Reserve System
Downloads 0 (35,047)

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27.

A Search-Based Model of the Interbank Money Market and Monetary Policy Implementation

BIS Working Paper No. 529
Number of pages: 44 Posted: 24 Nov 2015
Morten L. Bech and Cyril Monnet
Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures and Federal Reserve Bank of Philadelphia
Downloads 0 (425,173)

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Interbank market, monetary policy implementation, unconventional monetary policy