Template-Type: ReDIF-Article 1.0
Author-Name: Tara Rice
Author-Name: Goetz von Peter
Author-Name: Codruta Boar
Title: On the global retreat of correspondent banks
Abstract: Correspondent banks have been paring back their cross-border banking relationships for the past decade. The retreat is broad-based, but affects some countries more than others. Jurisdictions with weaker governance and deficient controls to prevent illicit financing have lost more relationships, while trade and growth were supportive. Technological developments, as well as private and public sector initiatives, could help to reduce frictions in cross-border payments. Further monitoring and action are warranted to ensure that all countries enjoy access to safe, low-cost cross-border payment channels.
Journal: BIS Quarterly Review
File-URL: http://www.bis.org/publ/qtrpdf/r_qt2003g.pdf
File-Format: Application/pdf
File-URL: http://www.bis.org/publ/qtrpdf/r_qt2003g.htm
File-Format: text/html
Year: 2020
Month: March
Classification-JEL: F23, F24, F35, G21, G28
Handle: RePEc:bis:bisqtr:2003g