Systemic interbank network risks in Russia

The talk discusses the network structure of the no-collateral Russian interbank market from the viewpoint of network topology and the analysis of systemic risks related to possible capital shortage. Both theoretical and practical aspects of the analysis of systemic risks are discussed. particular emphasis is on the role of the bow-tie topology of the corresponding weighted oriented graph in determining the topology of default networks. Based on empirical evidence a formalism based on generating function technique aimed at describing the process of default propagation is developed.