http://www.imf.org/external/pubs/ft/weo/2012/01/pdf/text.pdf Jorda, Oscar, Moritz Schularick and Alan M. Taylor, (2011), “When Credit Bites Back: leverage, Business Cycles, and Crises”, Federal Reserve Bank of San Francisco, Working Paper 2011–27. http://www.frbsf.org/publications/economics/papers/2011/wp11-27bk.pdf Kindleberger, Charles P. and Robert Z. Aliber, (2011), Manias, Panics and Crashes – A History of Financial Crises, Palgrave Macmillan, 6th edition.
In Japan, the launch of the Zengin More Time System in October 2018 has enabled users to send funds on a real-time basis 24 hours a day, 365 days a year for transfers of less than 100 million yen per transaction (hereinafter referred to as "retail transfers").