correspondent banking


correspondent banking
Ⅰ.
correspondent bank UK US noun [C] (also correspondent) BANKING
a bank that does work for a bank in another place, usually in another country: »

The use of a correspondent bank facilitates the transfer of funds abroad.

correspondent banking noun [U]
»

These principles apply in all correspondent banking arrangements.

Ⅱ.
correspondent banking UK US noun [U] BANKING
the act of a small foreign bank using a larger local bank to do its business in places where it has no office: »

An offshore affiliate of Argentina's Banco Republica had a 10-year correspondent banking relationship with Citibank in New York.

»

Correspondent banking is the most common means of making international payments.


Financial and business terms. 2012.

Look at other dictionaries:

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