Indeed, in theory only cross-border transfers are affected.
As the Eurozone consolidates, around banking union and cross-border transfers, the Lisbon treaty will be superseded by new, core-country agreements.
So most banks have offered small-scale cross-border transfers as an afterthought and made them so expensive and inconvenient that they are rarely used.
Now, all cross-border transfers require "the inclusion of complete originator and beneficiary information," according to the letter, which was obtained by The New York Times.
The proposed regulations would expand the requirements so that banks would have to report all cross-border transfers of any size, whether or not cash is involved.
Transferring funds using distributed ledger technology can provide more liquidity to markets, reduce credit risk and offer greater convenience to users, particularly in relation to cross-border transfers, through lower transaction fees and shorter transfer times.
Additionally, transfers could be done between two accounts where one individual is in the United States and the other is in Mexico but perhaps would not register as "cross-border transfers" if both accounts are U.S.-based.
This complex, multi-layered legal drama — involving multiple defendants, allegations of high-level corruption and large cross-border transfers of money — opened on Thursday and was over by nightfall.
Most hospitals say that they do not conduct cross-border transfers until patients are medically stable and that they arrange to deliver them into a physician's care in their homeland.
The value of cross-border transfers is expected to reach $437 billion in 2012, up from $387 billion in 2009, according to the Aite Group, a research and advisory firm.
