FSB Publishes updated data on Correspondent Banking

In its efforts to assess the decline in correspondent banking relationships, the FSB has published an update using SWIFT data. Some of the main findings are as follows:

  1. The number of active correspondents continued its decline in the first half of 2017;
  2. The number of active corridors continued to fall, however the rate of decline decreased between 2016 and 2017 (with the exception of the Americas (excl. North America)); and
  3. The decline in the number of correspondent banks did not cause a decline in the volume or value of messages. This may however be due to the lengthening of the payments chain.

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