Market infrastructures – the pillars of financial stability
Virtanen, Jere (07.06.2016)
JulkaisusarjaBank of Finland. Bulletin
JulkaisijaBank of Finland
Julkaisun pysyvä osoite onhttps://urn.fi/URN:NBN:fi:bof-201606131195
The financial system consists of financial institutions and the market infrastructures that connect them. They are both key to the stability of the system as a whole. The basic assumption is that infrastructures function reliably, and their criticality is noticed only in the event of a disruption. Stability analysis should, therefore, increasingly extend its focus to include both the functioning of infrastructures and their interconnectedness with financial institutions.