funds transfer system (FTS)

What is funds transfer system (FTS)?

funds transfer system (FTS) definition and meaning on Finance terms:
A formal arrangement based on a private contract or legislation, with multiple membership, common rules and standardised arrangements, for the transmission, clearing, netting and/or settlement of monetary obligations arising between its members. See also
interbank funds transfer system
payment system<

 

reference: https://www.ecb.europa.eu/home/glossary/html/index.en.html

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