“There is increasing discussion within the industry about whether or not value dating is as relevant as it once was, given new compliance requirements that can add delays in payment execution,” says Michael Gallagher, head of payments and cash management for North America and global head of FI payments and e-clearing at HSBC.
Payments are being stopped in queues for review so that banks can reconfirm they are appropriate. Clarification can at times take days to complete.
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