Amirkabir University of Technology AUT Journal of Mathematics and Computing 2783-2449 7 4 2026 10 01 Systemic risk in financial networks with two central institutions 399 406 5574 10.22060/ajmc.2024.23128.1232 EN Mariwan Marif Majeed Department of Mathematics and Computer Science, Amirkabir University of Technology (Tehran Polytechnic), Tehran, Iran Department of Mathematical Sciences, College of Basic Education, University of Sulaimani, Sulaymaniyah, Iraq Erfan Salavati Department of Mathematics and Computer Science, Amirkabir University of Technology (Tehran Polytechnic), Tehran, Iran 0000-0001-8214-5518 Omid Naghshineh Arjmand Department of Mathematics and Computer Science, Amirkabir University of Technology (Tehran Polytechnic), Tehran, Iran 0000-0002-7435-2733 Journal Article 2024 04 21 Systemic risk in the interbank market is the topic of this article. This market is modeled as a directed graph, where the edges are the bank-to-bank liabilities and bank-to-end users liabilities and the nodes are the banks. Our study extends the modeling paradigm of Amini et al. [3] by adding a second Central node to the system and using the equilibrium equation of the Veraart et al. [11] with some modifications that are better suited to our model. We study the effects of two central nodes on a financial network. It is evident that two central nodes can reduce the end-users shortfall and increase the predicted surplus of the banks when compared to a single central node. We provide a few straightforward examples to demonstrate our findings. https://ajmc.aut.ac.ir/article_5574_6fe6a8a6e6cb710584efc4af0c34ce50.pdf