sub-host operation

SWIFT

switch

transaction operator

An operation in which EFT terminals communicate directly
with a controlling minicomputer rather than with the
host CPU. In the event the host CPU is inoperable the
controlling minicomputer can independently authorize EFT
terminal transactions.

(Society for Worldwide Interbank Financial Telecommunications.) A cooperative company that engages in international funds transfer services.

A facility that performs the rapid communications required in EFT systems. Example: a switch links all of the retail terminals in a POS system to all of the financial institutions that are members of the system.

One who operates an EFT transaction terminal by entering funds transfer transactions at the direction of a customer or employer.

BIBLIOGRAPHY: EFT SUPPLEMENT

American Bankers Association, Bank Card Standards Management and Use of Personal Identification Numbers Document 6.0.4. Washington, D.C., September 1978.

"Audit and Control of the Money Transfer Function".

George W. Steffen, Bank Administration Institute Park Ridge, Illinois. Gerald S. Touger, Controller and General Auditor, Southern National Bank, Birmingham, Alabama.

Automation Training Center, Inc., EDPACS. Reston, Virginia, February 1980.
Bank Administration Institute, Debit Card Operations.

Park Ridge, Illinois, 1977.

Security, Audit, and Control Considerations in the Design of Electronic Funds Transfer Systems Park Ridge, Illinois, 1977.

Consumer Requirements for Retail EFT in the Supermarket. Park Ridge,
Illinois, 1977.
Illino

Comptroller of the Currency Adminstrator of National Banks, EFTS Guidelines.
Washington, D.C., April 16, 1976 Revised April 15, 1977.

The

Washington,

EFT in the United States Policy Recommendations and the Public Interest".
Final Report of the National Commission on Electronic Fund Transfers.
October 1977.

Federal Deposit Insurance Corporation, Introduction to Automated Tellers.
Washington, D.C., November 1975.

Washington, D.C., February 1976.

Introduction to Point of Sale Systems.
Introduction to EFT Security. Washington, D.C., August 1976.

EFTS Glossary. Washington, D.C., December 1978.

Fitzgerald, Jerry and Tom S. Eaton.
John Wiley & Sons, Inc., 1978.

Fundamentals of Data Communications. New York:

Jeffery, S. National Bureau of

Standards

Technology, "Data Integrity & Security

Testimony to the National Commission on Electronic Fund Transfers.
D.C., December 1976.

Penny, Norman and Donald I. Baker. The Law of Electronic Fund Transfer System. Boston: Warren, Gorham and Lamont, Inc., 1980.

Institute for Computer Sciences
the EFT Interchange Environment"
Washington,

"Swift" 1979.

Society for Worldwide Interbank Financial Telecommunication, Washington

SOURCES OF ILLUSTRATIONS: EFTS SUPPLEMENT

CHAPTER 10

Figures 10.1 through 10.3: Board of Governors of the
Federal Reserve System.

Figures 10.4: Bank Administration Institute, Auditing
Bank Computer Systems.

TELEPHONIC TRANSFER REQUESTS

for discussion at the

ABA/INSURANCE INDUSTRY MEETING

JUNE 23-24, 1983
CAPITAL HILTON HOTEL
Washington, D. C.

Donald G. Miller

Vice President

The First National Bank of Chicago
June 24, 1983