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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 periodicals archive ?
3 respectively corresponds to notation "s" and "p" in Fig.
The function is computed first by solving the equation [empty set] = 0 for y for a given d, then computing the IP terms one at a time and summing; each term has a factor which corresponds to the product of all the sequences of reflection coefficients mapped by a binary number.
In agreement with experimental values, the new moel predicts that somewhere between two and 15 mutations occur before the antibody response matures, or evolves, to produce antibodies with an affinity that corresponds to an intermediate peak on the affinity landscape.
1), this corresponds to an approximate (4) 31[degrees]C temperature rise of the microheating element from ambient (room) temperature.
The product is the increase in the applicable credit amount that corresponds to the increase in the applicable exclusion amount.