Through correspondent banking relationships, banks can provide cross-border payment services in different currencies. Currently, there are increasing indications that banks reduce their service level in this area – with potentially negative impact on global trade and real economy, respectively. Hence, the BIS-hosted Committee on Payments and Market Infrastructures (CPMI) prepared a report on correspondent banking describing current trends and putting forward recommendations for possible technical improvements. In the context of the consultation procedure comments are possible by 7 December 2015.
Correspondent banking - consultative report