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 have an impact on the ability to send and receive international payments, or drive some payment flows underground, with potential adverse consequences on growth, financial inclusion and international trade. While impacts on the stability and integrity of the global financial system have not been identified, concerns remain at the national and regional level.