Although the system is now fully functional and the banks are able to transfer funds during the day, settlement finality as at this stage is only achieved at the end BIS Review 31/1998  -4-  of each day. For the time being, end-of-day positions will still be settled in the morning of the next day.
The Atlantic Ocean, with Europe and America on each side, is no longer the undisputed centre of world economic activity. Asia and the Pacific Rim, while not as rich as the Atlantic, are clearly the area of fastest  BIS Review 47/2004  1  growth and largest population.