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 ?
In this first volume of the two canonical collections, Barbaro included 390 letters written between 1414 and 1451, addressed to or received from some 160 different correspondents. Of these letters, the vast majority (345) were written by Barbaro himself.
This reduced number of voices is a serious consequence for an American reading public which is seeing a declining amount of foreign news and analysis by independent resident correspondents.
The idea is intended to reduce bad loans in villages and bolster the retention rate among these correspondents. Hurt by the poor economic climate, bad loans have spiked to alarming proportions and could worsen to 4.4 percent if the economic pace falters further.
HUD's main goals in the proposed regulation are to eliminate the FHA approval requirement for loan correspondents and increase the net-worth requirements for FHA-approved lenders.
Cadet Correspondents attend a workshop that introduces them to the regulations, guidance and best practices of the branch, as well as basic PA and imagery skills such as photography, videography, interviewing and writing effectively for both traditional and social media.
In battlefields like Yemen, correspondents face the challenge of reporting while being the target of Iran-backed militias and terrorist groups of Al Qaeda and Daesh.
The White House Correspondents' Dinner was set to be held at the Washington Hilton Hotel in Washington, D.C., Saturday at 9:30 p.m.
Female war correspondents faced discrimination and roadblocks on all sides, but they also found allies in the military and among male correspondents.
The Indian central bank is creating a registry of banking correspondents, governor Raghuram Rajan said.
The outgrowth of a doctorate at an Australian University, the author's research rests on interviews with Australian and British foreign correspondents and fixers, and takes as a case study Iraq and Indonesia.
The inside story of how broadcasters reported the biggest economic crash in a century, and its aftermath, plus tips on how to produce a polished media interview, will be shared by BBC correspondent Declan Curry at the CBI's 2015 annual dinner on September 17.
The RBI through its circular in June 2014 permitted banks to sign up Non-deposit taking non-banking financial companies (NBFC) as their business correspondents as previously banks were not allowed to hire a NBFC to act as their business correspondent.