Glossary term

Correspondent Banking

This term has 3 definitions.

1. Banking system whereby a bank extends services to another bank, sometimes across borders.

2. Services of a bank between two institutions to enable international payments.

3. A banking arrangement where one bank (the correspondent) provides services on behalf of another bank (the respondent), often in a different country, which can be exploited to move illicit funds across borders

All terms beginning with C