>>>No bank has full trust of any other entity. It's not black and white. Banks basically have full trust in each other and central banks, actually (for these k

>>>No bank has full trust of any other entity. It's not black and white. Banks basically have full trust in each other and central banks, actually (for these kind of transactions, not investments or whatever). If you're a bank and you fuck up to the degree where you don't properly handle ACH and other transactions, guess what happens: you're no longer a bank, the government swoops in and takes over, and everything gets sorted out and you go to jail. It works pretty well.