Correspondent


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Correspondent

A financial organization that performs services (acts as an intermediary) in a market for another organization that does not have access to that market.

correspondent

A financial organization such as a securities firm or a bank that regularly performs services for another firm that does not have the requisite facilities or the access to perform the services directly. For example, a member of a securities exchange may execute a trade for a nonmember firm.

Correspondent.

A correspondent is a financial institution, such as a bank or brokerage firm, that handles transactions on behalf of another financial institution that it can't complete on its own.

For example, if a US bank has a client who needs to make a payment to a supplier located overseas, the US bank would use its relationship with a correspondent bank in the supplier's home country to credit the supplier's bank account with money from its own client's account that had been transferred through an international payment system.

References in classic literature ?
Tell me, should you have the misfortune to turn your head while your right-hand correspondent was telegraphing" --
TWENTY-EIGHT HOURS' WORLD COMA UNPRECEDENTED EXPERIENCE CHALLENGER JUSTIFIED OUR CORRESPONDENT ESCAPES ENTHRALLING NARRATIVE THE OXYGEN ROOM WEIRD MOTOR DRIVE DEAD LONDON REPLACING THE MISSING PAGE GREAT FIRES AND LOSS OF LIFE WILL IT RECUR?
My correspondent has just left Miss Ladd," the doctor answered.
Hardyman might, in that case, plead with his Imperial correspondent for a delay in his departure of a few days more; and th e marriage might still take place before he left England.
Meanwhile in Paris he met a young Irish lady with whom he fell in love, and being offered the post of Paris correspondent on another paper, he married.
Considerable sensation (the correspondent announced) had been caused in Perth and its neighborhood, by the exposure of an anonymous attempt at extortion, of which a lady of distinction had lately been made the object.
Third, a guest staying in the house, who has already appeared in these pages under the name of Horace Holmcroft--attached to the German army as war correspondent of an English newspaper.
Her correspondent had discovered that fact quite accidentally from the talk of the people of the house, having made friends with a workman who occupied a room there.
shown to the correspondents of the principal Literary and Antiquarian
There were many requests from my little correspondents for "more about the Wizard.
Frank Baum and his correspondents," for I have used many suggestions conveyed to me in letters from children.
With the summer rush from the Outside came special correspondents for the big newspapers and magazines, and one and all, using unlimited space, they wrote Daylight up; so that, so far as the world was concerned, Daylight loomed the largest figure in Alaska.