> No bank has full trust of any other entity. It's not black and white. For interbank transfers, it is. That's simply how the financial system works. > They

> No bank has full trust of any other entity. It's not black and white. For interbank transfers, it is. That's simply how the financial system works. > They use ratings (either Standard and Poor's or others) to determine the risk involved in a liability. No. The reason why your $50 ACH transfer to your cousin takes so long to clear isn't that recipient bank is checking Standard and Poor's to see if Wachovia is good for it.