Bech, Morten L. (contributor); Hobijn, Bart (contributor) - 2006
globalization of financial
1
markets. As the volume and value of transactions increased, central banks became worried about … for the purchase, sale, and financing of
securities transactions, foreign exchange transactions, settlement of interbank … transactions and other large value payments. Participation
in CHIPS expanded gradually in the 1970s and 1980s to include other …