Correspondent Bank
nouncandidate·updated May 9, 2026
An institution, acting on behalf of other institutions, that can settle the checks they collect for other institutions (respondents) by using accounts on their books or by sending a wire funds transfers. Generally, a provider of banking and payment services to other financial institutions.
Framework senses
Federal Financial Institutions Examination Council (FFIEC) IT Examination Handbook Infobase, Glossary1 senseview framework →
- §1
- An institution, acting on behalf of other institutions, that can settle the checks they collect for other institutions (respondents) by using accounts on their books or by sending a wire funds transfers. Generally, a provider of banking and payment services to other financial institutions.