Lola: What is CHAPS? A money wire/electronic money transfer?

Dunce me suddenly realizes that there is a resource..within my own family..if I look beyond my own nose! One of my brothers-in-law is a securities lawyer for the Ontario Securities Commission, a regulatory government body. (it's something like U.S. SEC. Canada does not have 1 national securities regulatory body --yet.) He should know the basic difference on certain banking practices/strutures between 2 countries. Or maybe not. Sometimes a person's knowledge becomes highly specialized that they don't know the general stuff.

A bit off point but see:
http://www.american.com/archive/2010/feb...-banking-system Look at point #7.

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