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Correspondent banking

General considerations

For the purpose of clearing and settling cross-border credit transfers submitted to its CAM procedures (CAM-Individual and CAM-IMPay), the Bundesbank has a network of correspondent banking relationships. Alongside its roughly 65 foreign currency accounts held abroad for the purpose of settling payments, the Bundesbank also maintains around 180 euro accounts itself for use by foreign counterparties.

Account holders involved in correspondent banking can belong to the following counterparty categories

  • Foreign commercial banks
  • Central banks, monetary authorities and governments as well as
  • International organisations

Account management at the Bundesbank is characterised by the following features

  • Accounts are managed solely in euro
  • No account management fees are levied
  • There is no obligation to maintain a certain minimum credit balance
  • Accounts are managed exclusively on a credit balance basis
  • Interest is paid on the account balance, depending on the counterparty

Additional information on the submission, processing and forwarding of cross-border credit transfers can be found under the menu item "Information sheet on correspondent banking" on the right-hand side of this page.

The detailed terms and conditions applying to foreign commercial banks as well as the interest rate and price schedule can be called up in the password-protected customer area. The relevant link is likewise located to the right of this text.

For information on the range of services offered by the Bundesbank with respect to euro reserve management for foreign central banks and monetary authorities as well as international organisations please refer to the menu item: Central Bank Service

Directories

Directory of Foreign Correspondent Banks (form 7006)

In order to avoid delays during settlement and unnecessary additional work for all credit institutions involved, it is extremely important that foreign payment orders for same-day euro credit transfers destined for states outside the EU/EEA as well as all foreign currency payments be submitted without any errors or omissions.

The Directory of Foreign Correspondent Banks (form 7006) contains all relevant details of the Bundesbank’s correspondent banks and is designed to eliminate problems and optimise the procedure as a whole.

Directory of credit institutions holding a foreign currency account at the Deutsche Bundesbank (form 7005)

The Bundesbank maintains USD accounts for a number of German credit institutions for the purpose of settling interbank payments. A list of these accounts can be downloaded using the link below.