Resource Center

In 2017, an IFC report1 pinpointed the reductions in the network of correspondent banks in emerging markets. In emerging markets, correspondent banking stress and compliance challenges drove some respondent banks […]

For banks in emerging markets, the regulatory landscape is more complicated than ever. Rules designed to fight money laundering and root out terror finance have made the financial system safer […]

Further progress has been made in implementing the FSB’s coordinated four-point action plan on correspondent banking since the progress reports sent to the Hamburg G20 Summit. Attached are two reports, […]

This report presents updated results to the FSB Correspondent Banking Data Report of July 2017, and FSB Correspondent Banking Data Report – Update of March 20182 derived from information provided […]

The decline in the number of correspondent banking relationships in many countries around the world remains a source of concern for the international community because, in affected jurisdictions, it may […]

The decline in the number of correspondent banking relationships in many countries around the world remains a source of concern for the international community because, in affected jurisdictions, it may […]

At the request of the G20 and the Financial Stability Board (FSB), and with the support of the Committee on Payments and Market Infrastructures (CPMI), the World Bank Group has […]

Caribbean economies are open economies dependent upon international trade, foreign direct investment and remittances more so on average, than other countries. Small Caribbean countries, including the three countries that are […]

Correspondent banking relationships (CBRs) play an essential role in economies around the world, enabling local banks to access overseas products and carry out cross-border transactions. But while such relationships are […]

On May 31 and June 1, 2016, the World Bank and ACAMS (Association of Certified Anti-Money Laundering Specialists) organized a two-day workshop in Washington D.C., the “Stakeholder Dialogue on De-Risking.”

Correspondent banking services are essential to enabling companies and individuals to transact internationally and make cross-border payments. Recently there have been indications that certain large international banks have started terminating […]

The international community is increasingly aware that adopting laws, regulations, and mechanisms to gather and exchange information about “beneficial owners” (BOs) is crucial for combating tax evasion, money laundering, corruption, […]

Recent efforts to strengthen the global financial system will ultimately contribute to greater financial stability and a safer world. However, the resultant de-risking is reportedly having a negative impact on […]

Many countries are threatened by the potential loss of their connection to the global financial system as large international banks terminate long-standing relationships and close correspondent accounts.2 This de-risking phenomenon […]

To move funds internationally, banks rely on correspondent banking relationships (CBRs), roughly defined as the provision of banking services by one bank (the correspondent) to another bank (the respondent).

Multiple studies have highlighted the Caribbean as one of the geographic regions most severely impacted by the decline in correspondent banking relationships (CBRs). However, when examined at a disaggregated level, […]

This report presents updated results to the FSB Correspondent Banking Data Report of July 2017, and FSB Correspondent Banking Data Report – Update of March 2018 derived from information provided […]

Correspondent banking relationships connect banks and people across borders and are critical to finance and trade. They are a vital link between emerging markets and the broader global economy. Yet […]

Since 2015, Belize has experienced de-­risking, the withdrawal of correspondent banking relationships. The impact on the banking sector and other financial institutions has been adverse, with repercussions also for the […]

The regulatory reforms, which have set new international standards, brought about both greater complexity and regulatory requirements to the financial sector and its regulators. These reforms are impacting on the […]