As you know, businesses have started to electronically exchange remittance information, such as purchases and sales orders, by taking advantage of internet technologies. An arrangement to link such remittance information with payment information – namely, information related to a beneficiary’s bank account and the payment date – and to exchange both remittance information and payment information together is called financial EDI.
A secondary objective for using the CCyB is its potential to limit the buildup of financial vulnerabilities by slowing the rate of credit expansion--that is, the possibility that the CCyB may "lean against the wind" of credit fluctuations. This secondary objective, both in the original Basel discussions and in the Federal Reserve's framework, is less central.