In this model, the MICR information on a check could be transmitted over a dedicated network or, as recently suggested by some bankers, the ACH. 2  Check 21 removed legal barriers that were preventing electronic technologies from being applied to long-established checkcollection processes.
This is attributable to the fact that Japan has been running a large current account surplus and is the biggest creditor nation in the world, so that Japan is perceived as among the most robust countries in the world in terms of foreign currency funding.