Work on banking system stability wins best paper prize

We are pleased to announce that the School of Engineering and Digital Arts, in conjunction with the School of Economics, have won a best paper award at the 5th International Conference of the Financial Engineering and Banking Society. The conference website with the announcement of the award is here:

The work is motivated by the financial crisis and the two Schools have been developing a model of the banking system which includes the effects of the interconnections between banks and their effect on the stability of the overall system. This dynamic model extends previous work on network models of the banking system and it takes inspiration from large scale, complex, interconnected systems studied within the domain of engineering. The ultimate goal of the work is to be able to inform recommendations to financial regulators and operators to help preserve financial stability.