Reliability Analysis of the Federal Reserve Automated Payments Systems
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.
Burnetas, Apostolos, Gregory Reynolds, and James B. Thomson. 1997. “Reliability Analysis of the Federal Reserve Automated Payments Systems.” Federal Reserve Bank of Cleveland, Financial Services Research Group Working Papers No. 03-97.