Abstract:

Based on the simulated data and different operational risk scenarios, the system's robustness and participants' importance of China's large value payment system are studied.The results show that large stateowned banks are the most important resource of potential operational risk and the greatest threat to the robustness of system.The policy banks are the most frangible notes and amplifier of liquidity risk.In contrast, city commercial banks and rural credit cooperatives are the stabilizers of liquidity risk.

Key words: large value payment system, operational risk, liquidity shock