The Financial Stability Board (FSB) has published updated data on correspondent banking relationships using data provided by SWIFT. The data is published as part of the FSB’s action plan to assess and address the decline in correspondent banking relationships.
The FSB finds that the reduction in the total number of active correspondents, as measured by the number of banks that have sent or received messages, continued in the first half of 2017. A decline in the number of correspondent banking relationships is a concern because in impacted jurisdictions it may affect the ability to send and receive international payments or drive payments underground with potential adverse impacts for trade, growth, financial inclusion, financial stability and the integrity of the financial system.
View FSB publishes updated data on correspondent banking relationships, 6 March 2018