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


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.


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 ?
In the fulness of time, this correspondence showing signs of wearing out, and seeming to require an effort on the part of the correspondents to which in the hurried circumstances of departure many of them might not be equal, he established the custom of attending collegians of a certain standing, to the gate, and taking leave of them there.
We entirely sympathize with Professor Mathen's views, but till the Board sees fit to further regulate the Southern areas in which scientific experiments may be conducted, we shall always be exposed to the risk which our correspondent describes.
Since then every family is part of a city, and each of those individuals is part of a family, and the virtue of the parts ought to correspond to the virtue of the whole; it is necessary, that both the wives and children of the community should be instructed correspondent to the nature thereof, if it is of consequence to the virtue of the state, that the wives and children therein should be virtuous, and of consequence it certainly is, for the wives are one half of the free persons; and of the children the succeeding citizens are to be formed.
The gift, to be true, must be the flowing of the giver unto me, correspondent to my flowing unto him.
Carey, acting as the correspondent for his guardian's views, suggested that it was time for him to come back to England, he agreed with enthusiasm.
Then, after a six months' silence, Evgenie Pavlovitch informed his correspondent, in a long letter, full of detail, that while paying his last visit to Dr.
My mother did not relish this at all, and now made many objections to my accepting the situation; in which my sister warmly supported her: but, unwilling to be balked again, I overruled them all; and, having first obtained the consent of my father (who had, a short time previously, been apprised of these transactions), I wrote a most obliging epistle to my unknown correspondent, and, finally, the bargain was concluded.
Was your correspondent lately a pupil at Miss Ladd's school?
Setting his own interests out of the question, Hardyman owed obligations to the kindness of his illustrious correspondent which made it impossible for him to send an excuse.
The writer is one, Thackeray, a half-monstrous Cornish giant, kind of painter, Cambridge man, and Paris newspaper correspondent, who is now writing for his life in London.
There the name of the widow was, unquestionably; figuring for the second time in type, in a letter of the gossiping sort, supplied by an "Occasional Correspondent," and distinguished by the title of "Sayings and Doings in the North.
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.