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


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.


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 ?
Correspondently, we find the textual representation (natural language denotation and comments) as content for the particular ontology concept.
Correspondently, the reproduction of commons and correspondent communities is often predicated on particular deals with capital, obtained as a result of struggles that have occurred in the past and given rise to particular institutional forms and cultures.
PSVI was decreased for 13 %, but HVI and SVI where increased for 14,2 % and 18,7 % correspondently (p<0,05).
The ground and top floor were simulated separately since their boundary conditions (floor and ceiling correspondently) differ from the typical floors.
The animals were taken out of the experiment after 30 minutes, 6, 12, 24, 48 and 60 hours after the contamination correspondently to perform histological research of shinbones and surrounding soft tissues.
The less pronounced myocardial vascularization in myocardial infarction in case of monopathology is probably caused by the local vascular bed damage and, correspondently, by formation of collaterals bypassing damaged part [7].
Correspondently, it was prepared an acidic aqueous solution of HCl at a pH of 3.1 and later stirred, meanwhile the Ti[O.sub.2] was added for setting its concentration at 0.01 g/L.
Note that centers of the spheres coincide with vertices [V.sub.s], s = 1, 2, ..., 8, of cuboid [P.sub.i]([u.sub.i]) correspondently. We need to extract the necessary spherical sectors of the spheres (Figure 2(d)).
But the values were uniformly and correspondently reduced based on the observed SSTAs located in the three center points in Figure 1 from October 1997 to June 1998.
Once a pair of nodes on the link are disconnected, it should be processed correspondently. The relatively ideal way is to find the third node before disconnection and to maintain the link.
Correspondently, the positive expression rate in the normal tissue specimens was 15% of ER, 18% of PR, 0% of NF-[kappa]B, and 2% of TNF-[alpha].
In addition, as the number of laptop users increases, the number of laptop breakdown increases correspondently. It is therefore imperative that competent manpower is produced to avoid continuous waste in such digital electronic appliance, and at the same time improve skill acquisition of electronic technology graduates for self-reliance in Nigeria.