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.
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.
Ironically, manipulating the overseas press in the way he has may have backfired for big Pierre.
The Post also won an array of other awards including a George Polk, a Peabody, several Overseas Press Club awards and citations, and recognition from state press associations in Maryland and Virginia and international news-design organizations.
In 2008, he was awarded by the Overseas Press Club of America for covering the massive China earthquake.
Cesar Chelala is a winner of an Overseas Press Club of America award and two national journalism awards fromArgentina
He is also a winner of an Overseas Press Club of America award and two awards from ADEPA, the organization of Argentine newspapers.
Under her leadership, AP's coverage in Honduras, Mexico and Argentina won several awards, including two from the Overseas Press Club, one from Investigative Reporters and Editors, the American Society of News Editors Batten Medal, and one from Sigma Delta Chi.
Alma Guillermoprieto was named a winner by the Overseas Press Club of America of its 2010 Ed Cunningham Award for best magazine reporting from abroad.
Jacobovici has won three Emmys and an Overseas Press Club Award for his masterpieces.
Cesar Chelala is co-author of "Missing or Dead in Argentina: The Desperate Search for Thousands of Abducted Victims", a New York Times Magazine cover story, for which he shared an Overseas Press Club of America award.
Signe Wilkinson (Philadelphia Inquirer), who in her acceptance speech for the Overseas Press Club-Thomas Nast Award, showing a combative streak, reflected that "if you don't want your prophets drawn in nasty cartoons, don't do nasty things in the name of your prophets.

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