transferee bank,e.g.when a chequeisdeposited, thatcreditwillnormally be provisional subject toreversal iftheinstruction isdishonoured. This resultoccurs eveninlegalsystems whichwouldhesitate topermit a transferee banktoreverse acredittotheaccount ofatransferee inacredit transfer. B.Relationship between finality oftransfer between customers andfinality oftransfer between banks 23.Atransfer offundsfortheaccount ofcustomers atdifferent banksis implemented by atransfer offundsbetween thebanks. Wheresettlement fora debittransfer isby means ofprovisional debits andcredits, theinter-bank fundstransfer isfinalwhenthefundstransfer between thetwocustomers is final. \~eresettlement isby means ofaseparate fundstransfer fromthe transferor bank,thefinality ofthatsettlement transfer may bedivorced from thefinality ofthecustomer transfer. However, thelegalsystemmayprovide thatthecustomer transfer isnotfinalandmaybereversed ifthesettlement doesnotbecomefinal. 24.Thefinality ofthecredittransfer between thebanks,as distinguished fromthetransfer between thecustomers, creates significant theoretical and practical difficulties. Although thetheoretical difficulties arethesame forcredittransfers handled between banksinbatches (usually smallinvalue perinstruction) andcredittransfers handled between banksindividually (oftenlargeinvalueperinstruction), thepractical difficulties exist almostexclusively withtransfers handled individually. 25.Credittransfers handled individually, andespecially large-value international transfers, mayrequire theinvolvement ofas many as sixor sevenbanks. Thesebanksmayallbeinarow,asinfigure4,orsomeofthem may bereimbursing banks. Inacredittransfer eachsegment takesonmostof thecharacteristics ofaseparate fundstransfer between thepairofbanksA/CN.9/266/Add.l English Page8 involved inthatsegment. InISO/DIS 7982thissegment isreferred toas a "fundstransfe-r transaction". Eachfundstransfer transaction requires a separate credittransfer instruction andameansofsettlement. However. the inter-bank rulesgoverning thefinality ofthefundstransfer transaction between thebanksdonotpurport tohetherulesgoverning thefundstransfer asawholeofwhichthetransaction isasegment. 26.Theinter-bank rulesgoverning thefundstransfer transaction may be foundinabilateral agreement between thetwobanks.buttheyareoftenfound ingeneral agreements amongbanks.orinclearing-house orothernetwork rules. Theserulesapplywithout regardtowhether thesending bankisacting onitsownbehalfinmaking apayment (e.g.making apayment inconnection withaforeign exchange transaction foritsownaccount) ortoimplement the instruction ofanon-bank customer ofthesending hank.or ofoneofits correspondent banks. Similarly. therulesapplywhether thecreditistobe applied bythereceiving banktoanobligation ofthesending bankorofan earlier bankinthechainorwhether thecreditistobeentered tothe account ofanon-bank customer ofthereceiving bankortotheaccount ofone ofitscorrespondent banks.perhaps inturnforcredittotheaccount ofone ofthatbank'scustomers. Theoriginal sourceofacredittransfer. the ultimate transferee andthebusiness purpose ofthetransfer affectthe conlent ofcertain datafieldsinthefundstransfer instruction; theydonot. however. affectprocedures forthefundstransfer transaction. andespecially therulesgoverning itsfinality. 27.Asnotedinparagraphs 8 and9.thefinality ofthecredittransfer between thetransferor andtransferee coulddepend onthefinality ofthe fundstransfer transaction between thebanks. However. inmanylegalsystems thefundstransfer wouldnotbefinalbetween thetransferor andtransferee untiltheappropriate acthadbeentakeninrespect ofthetransferee. e.g. sending anoticeofthecredittothetransferee. Thus.theremightbea periodoftimewhenthefundstransfer transaction wasfinalbetween thetwo banksbutthefundstransfer wasnotfinalbetween thetransferor and transferee. Inotherlegalsystems thefundstransfer transaction between the
**Analysis**
The text appears to be discussing the intricacies of financial transactions and the rules governing the finality of credit transfers between banks. It highlights the complexities of international transfers, the involvement of multiple banks, and the need for separate credit transfer instructions and means of settlement. The text also touches on the differences between legal systems and their approaches to finality. Given this focus on financial transactions and the rules governing them, it is likely that the text is related to the field of finance.

**Category**
Industry, International trade