CROSS-BORDER ELECTRONIC BANKING:CHALLENGES AND OPPORTUNITIES:SECOND EDITIONPDF电子书下载

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CHAPTER 1 INTERNATIONAL FUNDS TRANSFERS：MECHANISMS AND LAWS（Benjamin Geva） 1

Introduction 1

Ⅰ.International Large Value Transfers 1

（a） Credit transfers 1

（b） International credit transfer 4

（c） Concurrent international transfers and Herstatt risk 7

Ⅱ.Large Value Transfer Systems： Components， Risks and Models 9

（a） LVTS components 10

（b） LVTS risks 13

（c） LVTS national models 16

（i） United States 16

（ii） Switzerland 18

（iii） United Kingdom 19

（iv） Japan 19

（v） Canada 20

（vi） France 21

（vii） Germany 22

（viii） The European Union—Cross-border Transfers 23

Ⅲ.The Law of Credit Transfers： Selected Comparative Aspects 25

（a） Basic concepts： characterisation， irrevocability and discharge 27

（b） Allocation of risks： default by the beneficiary’s bank 29

（c） Allocation of risks： default by a bank other than that of the beneficiary 30

Conclusion 34

CHAPTER 2 WHOLESALE FUND TRANSFERS—UCC ARTICLE 4A（Alvin C.Harrell） 35

Ⅰ.Introduction and Scope—UCC Article 4A 35

Ⅱ.Article 4 Definitions and Scope 36

（a） Fundamental concepts 36

（b） Scope—payment order must be unconditional 38

Ⅲ.Liability for Errors and Unauthorised Orders 40

（a） Authority to originate 40

（b） Security procedure 41

（c） Commercially reasonable procedure required 42

Ⅳ.Obligations of a Bank Accepting a Payment Order 43

（a） In general 43

（b） Misdescription of beneficiary 43

（c） Preemption of other state law claims 45

Ⅴ.Transmitting the Payment Order 47

Ⅵ.Fees and Settlement 48

Ⅶ.Payment 48

（a） Payment in general 48

（b） Payment and discharge between banks 49

（c） Obligation of beneficiary’s bank to pay beneficiary 50

（d） Payment to the beneficiary 51

（e） Payment and discharge 51

Ⅷ.Miscellaneous Article 4A Issues 52

（a） Variation by agreement or funds-transfer rule 52

（b） Effect of creditor process or injunction 53

（c） The bank-customer relation 54

（d） Rate of interest 55

（e） Choice of law 55

（f） Statute of limitations 56

Ⅸ.Summary and Conclusions UCC Article 4A 57

Ⅹ.Regulation J Subpart A： Collection of Checks Through Federal Reserve Banks 57

ⅩⅠ.Regulation J Subpart B： Fedwire 59

（a） Scope of Subpart B 59

（b） Impact of Subpart B 60

ⅩⅡ.Federal Choice of Law Provisions 61

ⅩⅢ.Wire Transfer Monitoring Rules 62

ⅩⅣ.The Treasury “Travel Rule” 64

ⅩⅤ.Conclusion 65

CHAPTER 3 DEMATERIALISATION OF SHIPPING DOCUMENTS（Paul Todd） 70

Ⅰ.Why Dematerialise？ 70

Ⅱ.Electronic Bills of Lading 73

Ⅲ.Replacing the Document of Title： Property and Privity Problems 75

Ⅳ.The CMI Model 78

Ⅴ.Further Comments on the CMI Model 84

Ⅵ.An Alternative Model： Bolero 84

Ⅶ.Conclusion 87

Ⅷ.A Note of Caution 88

CHAPTER 4 THE BOLERO SYSTEM（Robert Caplehorn） 91

Introduction 91

Bolero and Traditional EDI 93

The Bolero.net product 93

The core messaging platform （inc.diag.） 94

Digital signatures （inc.diag.） 95

Public key certificates 96

Interoperability and standards 97

The Bolero Contractual Structure （inc.diag.） 97

Enrolment 99

LegalBackground 99

Legal Requirements for Writing 100

Admissibility of Electronic Evidence 102

The Transfer of Goods and Other Contracts 104

Title registry （inc.diag.） 104

Taking security 107

Choice of Law and Jurisdiction 107

Conclusion 108

CHAPTER 5 PAYMENT SYSTEMS， DATA PROTECTION AND CROSS-BORDER DATA FLOWS（Jan M.A.Berkvens） 109

Introduction 109

Payment Transactions 109

The Function of Modern Payment Systems 110

General 110

Banks 110

Problem defined in more detail 111

Applicability of Privacy Legislation 112

General 112

Personal data 112

Handling of personal data 114

Controller 116

Payment Transactions and EC Directive 116

General 116

Personal data 117

Controller 118

Processor 118

Processing 119

Auxiliary data （aids） 119

Scope of the Directive 119

Discussion of Various Articles of the Directive 120

Article 7 120

Article 8 122

Article 8（7） 122

Articles 1（2） and 4 122

Article 17 123

Article 25 124

Article 26 126

Direct Marketing 128

General 128

Splitting 128

Consequence of splitting 128

Secondary use of data 128

Conclusion 131

APPENDICES TO CHAPTER 5 133

A Model Clauses for use in Contracts Involving Transborder Data Flows （International Chamber of Commerce） 133

B Draft International Safe Harbor Privacy Principles Issued by the US Depart-ment of Commerce 139

CHAPTER 6—CONSUMER ELECTRONIC BANKING（Chris Reed） 143

Ⅰ.Introduction 143

Ⅱ.Opening a New Account 145

（a） Customer identification 145

（b） Cross-border collection of customer information 146

（c） Making the account contract 147

Ⅲ.Providing Account Services 148

（a） Access to account information 148

（b） Mandate for account transactions 150

（c） Performing account transactions 152

（i） Basic obligations 152

（ii） Cross-border transfers 153

（d） Proving the payment message 154

Ⅲ.Electronic Cash Products 155

Ⅳ.Controls on Customer Terms and Conditions 156

（a） Self-regulation 157

（b） Legislative controls 161

（i） General consumer protection legislation 161

（ii） Specific legislation 162

Ⅴ.Conclusions—The Future Development of Consumer Electronic Banking 164

CHAPTER 7—PAYMENT SYSTEMS FOR E-COMMERCE（Trystan Tether） 167

Introduction 167

Desirable Features of an E-commerce Payment Mechanism 168

The current dominance of the credit/debit/charge card 169

How Conventional Payment Cards Work 169

Connected Lender Liability in the UK 173

The Problems with Conventional Payment Cards 174

Cost 174

Limitations on who can receive payment using Conventional Payment Cards 176

Limitations on who can use Conventional Payment Cards to make payment 176

Lack of anonymity 177

Security 177

Who bears the security risk in Conventional Payment Card misuse situations？ 178

The Opportunity for Alternative Payment Systems 181

Two different types of systems which have developed 181

A typical account-based system 183

The advantages of an account-based system 183

Money laundering Regulations compliance 188

A Typical Cash-Based System 190

What kinds of system exist at present？ 194

The advantages of a cash-based system 194

Complications for a cash-based system 196

Conclusion 198

CHAPTER 8—ELECTRONIC MONEY（Laura Edgar） 201

Introduction 201

What is electronic money？ 202

How does electronic money work？ 202

Smart cards 203

Software Systems 203

Regulating the Issuers of Electronic Money 204

Redeemability 205

Supervisory regime 206

Money Laundering 209

The Contractual Relationship 210

Communication of Contractual Terms 211

Right of withdrawal 213

Information subsequent to a transaction 213

Securing storage of electronic money 213

Loss and fraudulent use of electronic money 214

Obligations on the issuer 216

Security breaches and technological failures 217

Customer Data 218

Conclusions 219

CHAPTER 9 THE COMPUTERISATION OF THE SECURITIES MARKETS： FROM SECURITIES TO INTERESTS IN SECURITIES（Dr Joanna Benjamin） 223

Introduction 223

The Impact of Collaterisation 224

Securities Settlement 225

Property Rights in Interests in Securities 228

Transfers 229

Securities Collateral 231

Conclusion 232

Index 235

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