Forthcoming 2026:
Catherine R. Schenk, 'Central banks and the international payment system' in Ugolini, S., Jobst, C. (eds.) 'Routledge Handbook of the History of Central Banking', Routledge.
This book will be available Open Access upon publication.
This sketch of the development of payments demonstrates how finance and payments are closely linked, are crucial for the smooth functioning of a globalised economy and also how the system includes both flows of information and instructions as well as final settlement into customers’ accounts (Robinson et. al. 2022). The system of final settlement through correspondent banks persists into the present day despite dramatic changes in the nature of communications technology and the scale of cross-border trade and financial services
