home/glossary/Correspondent Bank

Correspondent Bank

nounid 2029·updated May 9, 2026
candidate

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.

MWE

Classifications

Entity Type

Organization85%llm-generatedllm:claude-haiku-4-5

Sensitivity

Regulated80%llm-generatedllm:claude-haiku-4-5

Information Class

unclassified

Variants

plural
Correspondent Banks
possessive
Correspondent Bank's
pluralpossessive
Correspondent Banks'

Framework definitions

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.

Outgoing relationships

No outgoing triples
This term is not the subject of any RDF-style relationship yet.

Incoming relationships

No incoming triples
No other term currently asserts a relationship to this one.