Kerem Albayrak: notes on counterparty research and standing monitors
Field notes on the work of reading people and the records they leave. The questions that keep returning, and what the work does with them.
Exposure as a network property
A counterparty's exposure is largely a function of whose exposure they sit next to. The graph is what makes the cross-subject signal legible early instead of after the fact.
ISO 20022 as monitor metadata
A payment used to be an amount and two account numbers. It is now a structured object with fields a standing monitor has been waiting for.
Correspondent banking as a map
Who clears for whom, in which currency, through which hub. The map has been sitting there since the eighties and most in this space still refuse to open it.
Closing fields before anyone reads them
The unglamorous moves happen before the file is being read, not after. The work is deciding which fields, in which order, while the calendar is still quiet.