Abstract
Examines the international progress towards regulatory harmonisation of cross border electronic funds transfers and the obstacles that still remain. Comments on: (1) the nature of such transactions and the varieties of payment systems involved; (2) elements of the banker-customer relationship in fund transfers; (3) the risks involved in payment finality and settlement finality, including the liquidity and credit risks associated with Real Time Gross Settlement (RTGS) systems; (4) the need to ensure the legal validity of netting in all jurisdictions; (5) key EC initiatives concerning large value payment systems; and (6) possible future developments.
Original language | English |
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Number of pages | 19 |
Journal | The Journal of Business Law |
Publication status | Published - 2003 |
Keywords
- netting
- clearing systems
- conflict of laws
- EC law
- electronic funds transfer
- harmonisation