Resource Center

  • Enhancing cross-border payments: building blocks of a global roadmap

    The G20 has made enhancing cross-border payments a priority during the 2020 Saudi Arabian Presidency. Faster, cheaper, more transparent and more inclusive cross-border payment services would deliver widespread benefits for citizens and economies worldwide, supporting economic growth, international trade, global development and financial inclusion.

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  • Trade Finance and the Compliance Challenge: A Showcase of International Cooperation

    Trade Finance and the Compliance Challenge: A Showcase of International Cooperation

    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 […]

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  • AML & CFT Risk Management in Emerging Market Banks. Good Practice Note.

    AML & CFT Risk Management in Emerging Market Banks. Good Practice Note.

    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 […]

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  • FSB reports on correspondent banking and remittances

    FSB reports on correspondent banking and remittances

    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, […]

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  • FSB Correspondent Banking Data Report – Update

    FSB Correspondent Banking Data Report – Update

    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 […]

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  • FSB action plan to assess and address the decline in correspondent banking: Progress report

    FSB action plan to assess and address the decline in correspondent banking: Progress report

    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 […]

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  • FSB action plan to assess and address the decline in correspondent banking: Progress report to G20 Summit of November 2018

    FSB action plan to assess and address the decline in correspondent banking: Progress report to G20 Summit of November 2018

    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 […]

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  • Fact Finding Summary from De-risking Surveys: Withdrawal from Correspondent Banking and Report on the G20 Survey on De-risking Activities in the Remittance Market

    Fact Finding Summary from De-risking Surveys: Withdrawal from Correspondent Banking and Report on the G20 Survey on De-risking Activities in the Remittance Market

    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 […]

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  • Economic Impact of De-risking on the Caribbean: Case Studies of Antigua and Barbuda, Belize and Saint Kitts and Nevis.

    Economic Impact of De-risking on the Caribbean: Case Studies of Antigua and Barbuda, Belize and Saint Kitts and Nevis.

    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 […]

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  • De-Risking and Financial Inclusion

    De-Risking and Financial Inclusion

    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 […]

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  • Stakeholder Dialogue on De-risking: Findings and Recommendations

    Stakeholder Dialogue on De-risking: Findings and Recommendations

    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.”

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  • Withdrawal from Correspondent Banking : Where, Why, and What to do About It.

    Withdrawal from Correspondent Banking : Where, Why, and What to do About It.

    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 […]

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  • Regulation of Beneficial Ownership in Latin America and the Caribbean

    Regulation of Beneficial Ownership in Latin America and the Caribbean

    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, […]

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  • De-Risking and Other Challenges in the Emerging Market Financial Sector : Findings from IFC’s Survey on Correspondent Banking

    De-Risking and Other Challenges in the Emerging Market Financial Sector : Findings from IFC’s Survey on Correspondent Banking

    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 […]

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  • De-risking of Correspondent Banking Relationships: Threats, Challenges, and Opportunities

    De-risking of Correspondent Banking Relationships: Threats, Challenges, and Opportunities

    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 […]

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  • The Decline in Access to Correspondent Banking Services in Emerging Markets: Trends, Impacts, and Solutions

    The Decline in Access to Correspondent Banking Services in Emerging Markets: Trends, Impacts, and Solutions

    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).

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  • CBR Withdrawals: Understanding the Uneven Occurrence Across the Caribbean

    CBR Withdrawals: Understanding the Uneven Occurrence Across the Caribbean

    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, […]

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  • Correspondent Banking Data Report – Update

    Correspondent Banking Data Report – Update

    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 […]

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  • Increased Regulation and De-risking are Impeding Cross-Border Financing in Emerging Markets

    Increased Regulation and De-risking are Impeding Cross-Border Financing in Emerging Markets

    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 […]

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  • Assessing the Impact of the De-risking on Remittances and Trade Finance in Belize

    Assessing the Impact of the De-risking on Remittances and Trade Finance in Belize

    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 […]

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