Fed policy tightening will keep clamps on US banks’ credit; change may be afoot in global payments
Moody's Talks - Focus on Finance
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The Advantages of Wholesale CPDCs
Each currency is a closed-loop payment system. A bank can settle payments if it has access in the central bank to the payment system of that country. For some cross-border payments, an entire network of corresponding banks may be involved. With wholesale CPDCs, banks can operate on a single platform and communicate directly with each other.
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