Reliability analysis of the Federal Reserve automated payments systems
Abstract: This paper proposes an analytic framework for the reliability assessment of the automated payments systems used by the Federal Reserve Banks. The failure/recovery behavior of the system currently in operation is modeled as a continuous-time Markov process with varying levels of detail, and the availability is calculated for a wide range of component failure frequencies. Furthermore, alternative system configurations are proposed and analyzed.
Keywords: Federal Reserve banks - Automation;
Provider: Federal Reserve Bank of Cleveland
Part of Series: Financial Services working paper
Publication Date: 1997