COMMENT
Author: KAZUAKI SONO
Language:
English
Keywords:
BOOK; independence of central banks; chapter; bank; independence; country; credit policy; bank supervisor; EC treaty; bank regulator; banking regulator; Legal support in revenue administration; Foreign banks; Government securities; Securities markets; Commercial banks; Global; Central and Eastern Europe; Eastern Europe; Europe; Caribbean

Abstract

One trillion dollars in transfers are cleared every day in New York City through the Clearing House Interbank Payments System (CHIPS). The transfers are effected in accounts by and among New York banks as well as the New York branches of major domestic and foreign banks. Legally speaking, these are domestic account transfers subject to N.Y. state law. Nevertheless, many of the transfers are international in nature, in that they are conducted to settle accounts among banks, which receive instructions from abroad.

Within Same Series

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Other Publishers Content

Cover Current Legal Issues Affecting Central Banks, Volume III.
Current Legal Issues Affecting Central Banks, Volume III.
Volume III.
Author: Mr. Robert C. Effros
ISBN:
9781557754981
Publication Date:
03 Aug 1995
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781557754981.071
Pages:
679