The New Yorkers, in turn, will use the Federal Reserve's clearing system to wire the money to a correspondent bank in Memphis.

ECONOMIST: Banking: Loose wiring | The

Through a John Doe summons issued to the U.S. bank holding the correspondent account, the IRS can view records of deposits and payments by check and wire.

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Despite the removal, Palestinians - encouraged by the impact of their action - say they will repeat the tactic in other parts of the occupied West Bank, our correspondent says.

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Banamex, a big bank, has called your correspondent every day for two years because its call centre is unable to correct wrong numbers.

ECONOMIST: Mexican banks

The Louisiana Bank is active as a correspondent for other banks.

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Stephen Cape, the BBC's Labour Affairs Correspondent, said unions were unhappy with the way the bank had handled the issue.

BBC: NEWS | Business | Account warning for bank workers

The Vatican Bank - known officially as the Institute for Works of Religion - has hitherto exempted itself from international banking regulations on the grounds that it is not a real bank in the normal sense of the word, our correspondent says.

BBC: Vatican sets up watchdog to combat money laundering

The majority of Palestinians in Gaza and the West Bank accept segregated education as part of their culture, our correspondent says.

BBC: Hamas in mixed-sex school ban

"Daniels will hope that those investors don't start to have serious doubts about whether he is the right man to attempt to rebuild a bank that many would say has been seriously weakened by the acquisition of HBOS, " our correspondent says.

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