Cristina Picillo
Cristina joined the BIS in 2014. Before her current assignment, she served as an economist in the secretariat of the Financial Stability Board and of the Committee on Payments and Market Infrastructures. Previously she worked in the Market and Payment Oversight Department of the Bank of Italy. In 2008 she was a visitor to the Financial Research Division of the European Central Bank, focusing on money market spreads in the immediate aftermath of Lehman's collapse. Before joining the central bank community, Cristina worked in the private sector at the trading platform EuroTLX in the Market Surveillance Unit. Cristina holds a Master in Money and Finance from the University of Brescia. Her research interests include digital innovation, payments, financial market infrastructures (in particular central counterparties, trade repositories, large-value payment systems) and their financial stability implications.
Fields of interest
- Financial market infrastructures
- Financial markets
- Digital innovation
- " 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 369and 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 Papersno 731.