Cristina Picillo is an economist in the secretariat of the Committee on Payments and Market Infrastructures. Before joining the BIS, she worked starting in 2006 as an economist in the Market and Payment Oversight Department of the Bank of Italy, in the division in charge of supervision of financial markets and large-value payment systems. After her postgraduate studies at the University of Brescia's Master in Money and Finance, she worked at the trading platform TLX (currently EuroTLX) in the Market Surveillance Unit, on the admission to trading of participants and securities. Her research interests include financial markets and financial market infrastructures, in particular central counterparties and large-value payment systems and their connections to the broader financial system. In 2008 she was a visitor to the ECB's Financial Research Division, where she focused on money market spreads in the immediate aftermath of Lehman's collapse.
Fields of interest
- Financial market infrastructures
- Financial markets
|Date||BIS research papers|
BIS Quarterly Review December 2015
BIS Working Papers No 515
- " How to measure the unsecured money market: the Eurosystem's implementation and validation using TARGET2 data" (with L Arciero, R Heijmans, R Heuver, M Massarenti and F Vacirca), International Journal of Central Banking, March 2016, pp 247-80. Also published as De Nederlandsche Bank Working Paper no 369 and Banca d'Italia Occasional Papers no 215.
- " Building ABMs to control the emergence of crisis analyzing agents' behavior" (with L Arciero, P Terna and S Solomon), in Interdisciplinary applications of agent-based social simulation and modeling, 2014, pp 312-33.
- " Liquidity management in the large value payment systems: need for an agent-based model's complex approach" (with L Arciero), in Simulation in computational finance and economics: tools and emerging applications, 2012, pp 84-102.
- " The interbank market after August 2007: what has changed and why?" (with P Angelini and A Nobili), Journal of Money, Credit and Banking, vol 43, issue 5, 2011, pp 923-58. Also published as Banca d'Italia Working Papers no 731.