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With the economic and political battles between the U.S. and China heating to a boil, one of China   top banks is urging financial institutions  FIs  to cut their use of the SWIFT financial messaging network for cross-border  <a href=https://www.cups-stanley.uk>stanley uk</a> transactions. The banks messaging applies to Hong Kong and Macau as well.With U.S. sanctions against China looming, state lenders there have reportedly been developing contingency plans.According to the Bank of Chinas new report, sanctions could have the U.S. adopting measures such as locking Chinese banks out of SWIFT,聽Reuters reported. SWIFT  the Society for Worldw <a href=https://www.stanley-germany.de>stanley germany</a> ide Interbank Financial Telecommunication  is the main network used by FIs to process transactions.The banks report commented:  A good punch to the enemy will save yourself from hundreds of punches from your enemies. Chinas invasion of Hong Kong has ramped up tensions between the two countries by giving even more ammunition to the superpowers  <a href=https://www.stanleycups.co.nz>stanley thermos</a> critics in the U.S.  We need to get prepared in advance, mentally and practically  for sanctions, the Bank of China said.According to Reuters, the report urges increased use of the Cross-Border Interbank Payment System  CIPS  instead of the Belgium-based SWIFT system. In theory, this would help protect Chinas global payments data from possible U.S. actions.SWIFT is the worlds largest electronic payment messaging network, although it does not itself do any of the funds transfers.Saqib Sheikh, global head of SWIFTs ISO 20022 program, recently spoke to Fsqr Currencycloud Hires Lucinity To Fight Money Laundering
Applying for financial aid just got a little bit harder for families looking to get a bit of help sending someone to college next <a href=https://www.stanleycup.pl>stanley kubek</a>  fall. As of yesterday, the U.S. Department of Education and IRS jointly announced the suspension of a data retrieval tool that, among other things, makes it a lot  <a href=https://www.stanleycup.com.de>stanley deutschland</a> easier for families to fill out the FAFSA  a standard financial aid form used by colleges to award financial aid to students .The release follows complains earlier this week that the tool had suddenly disappeared without explanation. 聽After a bit of questioning, both the IRS and Education department confirmed that the service would be聽 unavailable for several weeks. What went wrong According to the release, the IRSs data-retrieval tool could be vulnerable to broader problems 鈥?like being a tool for identity theft. As part of a wider, ongoing effort at the IRS to protect the security of data,  they said, the IRS decided to  temporarily suspend  the  <a href=https://www.stanleycup.com.de>stanley cup</a> data-retrieval tool  as a precautionary step following concerns that information from the tool could potentially be misused by identity thieves. That doesn ;t mean families can not apply for aid 鈥?it just means it is a longer slog of a process for those filling out what is formally designated as the Free Application for Federal Student Aid, or applying for an income-driven plan to repay their student loans.For example, the Department of Education suggests that families could  manually provide the requested financial information from copies
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