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 periodicals archive ?
UO journalism student Cory Eldridge (above) is one of 12 students nationwide to have been selected for an Overseas Press Club Foundation Scholarship this year for his reportage about a Palestinian ophthalmologist's surgical work (right) to repair a 3-year-old girl's ruptured eye while in a West Bank refugee camp.
Truth wins: Overseas Press Club honors CSM Weekly for cover story exposing the over-hype of carbon offsets.
The Overseas Press Club of America awarded Reportage by Getty Images photographer Alvaro Ybarra Zavala with the prestigious Olivier Rebbot Award, for his evocative images of the dangerous underworld of political violence in Venezuela.
Halper has received numerous honors including a News and Documentary Emmy, an Overseas Press Club Award, the Edward R.
Bloomberg Markets magazine reporting has received more than 50 journalism awards, including the 2006 George Polk Award in Journalism for Health Reporting, the 2004 Gerald Loeb Award for News Service/Online Content and the Overseas Press Club's 2002 Morton Frank Award for Best Business Story in a Magazine.
The number and the diversity of awards received - including the Overseas Press Club's prestigious Robert Capa Gold Medal Award and Picture of the Year International's Magazine Photographer of the Year Award - is a testament to the talented Getty Images team who tell powerful visual stories by capturing captivating imagery.
21, 2014 /PRNewswire/ -- The Overseas Press Club of America, a 75-year-old organization that awards the most prestigious prizes devoted exclusively to international news coverage, elected a new president on Wednesday night at its annual meeting in midtown Manhattan.
In 2003, he was honored with an Overseas Press Club award for his coverage of Haiti.
She received Overseas Press Club honors for reports on Iraq and on the Israeli-Palestinian conflict; the Fred Friendly First Amendment Award; the Edward R.
Andelman is Editor of World Policy Journal, the author of A Shattered Peace: Versailles 1919 and the Price We Pay Today, President-Designate of the Overseas Press Club of America and a UN Global Expert (www.
duPont Silver Baton, a Peabody Award, a Loeb Award, an IRE Award, and an Overseas Press Club Citation.
CMB won rewards and recognition granted by a number of domestic and overseas press organizations, such as; 'The Best Domestic Commercial Bank in China', 'The most respectable Enterprises in China', and one of 'The Top 10 Public Companies in China' respectively.

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