Wire Transfers: A Guide to U.S. and International Laws Governing Funds Transfers is written by the experts who helped develop the United Nations Model Law on International Credit Transfers, Federal Reserve Regulation J and Uniform Commercial Code Article 4A. The book explains and analyzes, in clear and comprehensive language, the issues, laws and policies relating to the legal and business aspects of funds transfers. In its most elementary form, a wire transfer is a process whereby one party transforms, through electronic means, its claim against a bank into another party's claim against a bank. Two wire transfer systems for transferring bank credit are featured in this comprehensive text: "Fedwire" and the Clearing House Interbank Payments System (CHIPS). More than $2 trillion is transmitted over these two systems every business day - in other words, the entire gross national product of the U.S. turns over on these two networks every few days The newly developed U.N. Model Law is treated extensively. Impressive in a scope and depth, this path through what might appear to be a jungle of legal rules and technical banking terminology covers numerous topics in five, well-organized sections: The Legal and Business Terrain, UCC Article 4A, Regulation J and the Operating Circular, The CHIPS Rules, and The U.N. Model Law on International Credit Transfers.
- ISBN13 9781557383549
- Publish Date 4 February 1993
- Publish Status Out of Print
- Out of Print 4 November 2004
- Publish Country US
- Publisher McGraw-Hill Education - Europe
- Imprint Irwin Professional Publishing
- Format Hardcover
- Pages 325
- Language English