Authorized Settlement Agent
Imagine the U.S. banking system as a pyramid. At the top is the central bank, known as the Federal Reserve. It prints the money and provides regulation and oversight for the other banks, all the way down to your local branch, housing the $103.22 you currently have in your checking account.
One of the designations along the pyramid is the "authorized settlement agent." This sounds like a fancy term for a police hostage negotiator. But in reality, it refers to a bank that can send checks to the Federal Reserve. Money then moves from there through the rest of the banking system.
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Finance: What is a regular way contract?1 Views
Finance a la shmoop what is a regular way contract?
alright well for centuries the church has condemned anything but the regular [Men appear in church]
way but then some wise guy posited a question about anything but so then some
wise Torah scribe added an extra letter T there and well everything was a mess [Person wiping letter T out]
and well "regular way" just stopped really being a thing anyway in
finance land regular way simply describes a securities trade when trades
settle regular way, it means that they follow the normal T plus 3, T plus 5, T
plus whatever days that's accorded whatever trade it is they're making a
corporate debt trade well that's usually T plus 3 or 3 days regular way would
imply that the corporate debt will settle in the regular three-day time [Amount owed appears on corporate debt timeline]
period the foreign exchange trade for a stock well that's usually 2 days T plus
2 would be the regular way the basic idea is that there are so many trades
and trade types now that happen in a non regular way because of some weird
restriction or government filing requirement or computer hacking that
happened out there or other global event that precluded things going the au
natural or regular way that noting when something trades regular way [People shouting at trading company]
actually has become a thing like we actually have to call it out when things
happen normally and if you have any questions about what's kosher or not in
regular ways well we suggest you consult your religious scribe or book in
whatever form it comes in it's not our business [Man asking priest questions]
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