TITLE

Get Set for Change in Bank-to-Bank Transfers

AUTHOR(S)
Beattie, Steven C.
PUB. DATE
November 2009
SOURCE
American Banker;11/13/2009, Vol. 174 Issue F314, p10
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article discusses the introduction of an updated cover payment type for bank-to-bank transfers in the U.S. The author focuses on issues that have arisen in connection with the "cover variant" type including those related to risk and operational obstacles to full compliance, the volume of money-laundering alerts apt to be generated by the new type, and the impact on a bank's relationship with correspondent banks.
ACCESSION #
45127386

 

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