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My Dad was in banking in the UK and told stories about inter-bank transfers in London in the 1930s that were effected by two low level employees physically exch
by dave333 4y ago
My Dad was in banking in the UK and told stories about inter-bank transfers in London in the 1930s that were effected by two low level employees physically exchanging documents. He said he was always very careful to get a firm grip on the receivable briefcase before releasing his grip on the deliverables.
- walrus01 4y agoBearer bonds?
- linksnapzz 4y agoOr actual bills. In the US, at that time, the Federal Reserve used to issue $10000 && $100000 notes exclusively for settlements between member banks.
- dave333 4y agoI am not certain, but I recall he said it was something to do with settlement of foreign exchange transactions.