Definition ∞ Interbank transfers are electronic movements of funds between different financial institutions. These transactions facilitate payments between customers of separate banks, often cleared through central banking systems or specialized networks. They represent a fundamental operation within the traditional financial system, enabling domestic and international money circulation. Efficiency and security of these transfers are paramount for global economic stability.
Context ∞ Interbank transfers are undergoing modernization efforts globally, with a push towards real-time payment systems. The emergence of central bank digital currencies (CBDCs) and distributed ledger technology offers potential alternatives to existing clearing mechanisms. A key discussion involves how these innovations can reduce settlement times and costs while maintaining financial integrity. Future developments will focus on enhancing speed, security, and interoperability across various payment infrastructures.
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