The term "participant" refers to a bank which has joined the foreign currency payment system and opened a foreign currency settlement account at a settling bank.

参与者是指参加外币支付系统并在代理结算银行开立外币结算账户的银行。

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He says the Federal Reserve Board, acting as arbiter of the bank settlement system, should outlaw no-surcharge rules.

FORBES: Credit Where It's Due

In an emergency move on April 25th, the Bank of Japan extended the interbank settlement system by an hour, for Mizuho's benefit.

ECONOMIST: A fine merger yields one fine mess

The European Central Bank, which ought to see the big picture, is in favour of a clearing and settlement system, or network of systems, within the euro area, but is wary of letting a new monopoly develop.

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