DEFINITION
Remote Access to an IFTS

"Remote access to an IFTS": Funds transfer. The facility for a credit institution established in one country (home country) to become a direct participant in an interbank funds transfer system (IFTS) established in another country (host country) and, for that purpose, to have a settlement account in its own name with the central bank in the host country, without necessarily having established a branch in the host country.
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