Most all people say that in the U.S. no bank will issue an MT760 because it will pose a liability on the bank balance sheet. Now comes the ability to issue a bank aval promissory note against the premium of a banking instrument. Do you think you would be able to issue a bank aval promissory note/bank backed promissory note/bankers' acceptance? And what's the difference?
Well an MT760 would be a debit on the bank balance sheet.
A bank aval, bankers' acceptance is order by the drawer to pay by the bank a specified amount on a specific date, pay to the order to.
Anyone have any comments? Hmmm. My money or the bank's money? I've heard a few others say that the bank won't aval a P/N. Why not? If it's my money I can do what ever I want to do!
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The only reason MT dose not work in the US banks, do to Banks in the US do not use the same software's. every Bank in the US has the choice to use any software they like, in fact you can purchase the same software from any one and once MT760 is on my account in the US you then have all the info to move the funds around.
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