For that reason, the creation of the Super SIV is inextricably linked to the restructuring and sale of Sachsen LB. The price paid by LBBW and the valuation of the bank took account of the existence of the Super SIV and the liquidity provided by LBBW and the Landesbanken.

So when one bank consumer pays at his bank, the other bank floats that suspense account and puts the money into the other person's account when he receives the money.

(h) bank accounts and accounts with other financial institutions;

(9) Whereas in accordance with Article 109g of the Treaty and with Regulation (EC) No 1103/97, the euro will replace the ECU as from 1 January 1999 as the unit of account of the institutions of the European Communities; whereas the euro should also be the unit of account of the European Central Bank (ECB) and of the central banks of the participating Member States; whereas, in line with the Madrid conclusions, monetary policy operations will be carried out in the euro unit by the European System of Central Banks (ESCB); whereas this does not prevent national central banks from keeping accounts in their national currency unit during th ...[+++]e transitional period, in particular for their staff and for public administrations;

If I have a credit card with one bank and a chequing account with another bank and a savings account with a third bank, the aggregator puts that all together in front of me, whether I'm doing that on my desktop, my iPad, or in some cases on my phone.

Instead of exposing itself to Canadian controls and incurring the high costs of locating in Canada, the bank would open a correspondent bank account with an existing Canadian bank.