The recent financial crisis has stressed the need to understand financial systems as networks of interdependent countries, where crossborder financial linkages play the fundamental role. It has also been emphasized that the relevance of these networks relies on the representation of changes follow on the occurrence of stress events. Here, from series of interbank liabilities and claims over dif...

The financial services industry has used Internet technologies to create many standardised services for consumers. Recent Internet initiatives offer more customised financial products and services. Traditional market players have responded by evolving standard products to become more client specific. These forms of mass customisation of financial services are based on an increasing role and imp...

Recent crisis in the global financial world has generated renewed interests in fragilities of global financial networks among economists and regulatory authorities. In particular, a potential vulnerability of the financial networks is the ‘financial contagion’ process in which insolvencies of individual entities propagate through the ‘web of dependencies’ to affect the entire system. In this pa...