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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

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.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.
References in periodicals archive ?
universities and colleges applied for the $2,000 Overseas Press Club scholarship.
military bases to daily life and the environment to domestic and overseas press organizations covering the summit in the northern Okinawan city.
Klose hopes to expand the news programming, and points out with pride that NPR won a Lowell Thomas award from the Overseas Press Club for its coverage of Kosovo.
The Overseas Press Club of America presented an award Thursday to U.S.
But two Pacifica Radio reporters have spurned an honor bestowed by the Overseas Press Club, because they were denied an opportunity to question the speaker of the evening, Richard Holbrooke.
AWARDS FOR APRIL 1- APRIL 30 Imagen Awards (13) MVPA awards (27) Vision awards (8) Alma Awards (27) BAFTA (22) Pulitzers (21) Aspen Shortfest (10) Genii Awards (3) GLAAD Awards (9) Maximum Image Awards (9) Golden Rose (1) Montreux fest awards (14) Overseas Press Club (16) Operating Cameramen Awards (9) Hong Kong Film Awards (13) Outer Critics Circle awards (23) National Magazine Awards (15)
Ironically, manipulating the overseas press in the way he has may have backfired for big Pierre.
The Embassy of Egypt in the United States tweet its congrats to Michael and El-Mofty via the embassy's official twitter account: "Congrats to Maggie Michael and Nariman El-Mofty from Egypt for winning the 2019 @PulitzerPrizes for International Reporting for their extensive coverage of the conflict in Yemen." #EgyptPride #WomenofEgypt It is worth mentioning that this isn't Michael's first award, in April 2018, she has won the Overseas Press Club (OPC) of America in the contest honoring the best international reporting for her work in Yemen.
Cesar Chelala is an international public health consultant and a co-winner of an Overseas Press Club of America award.
Nathan Thompson, president of the Overseas Press Club of Cambodia, said The Phnom Penh Post has been a stalwart voice of independent journalism in a country that plunged 10 spots in the latest press freedom index by Reporters Sans Frontier (RSF), to 142nd place.
Cesar Chelala is a co-winner of an Overseas Press Club of America award and two national journalism awards from Argentina
Another award came from the Overseas Press Club of America for their coverage of the 2008 earthquake.

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