[20220408]IF10873_代理银行业务和“去风险”问题概述.pdf

https:/crsreports.congress.gov Updated April 8, 2022Overview of Correspondent Banking and “De-Risking” IssuesWhat Is Correspondent Banking? In broad terms, correspondent banking refers to formal agreements or relationships between banks to provide payment services for each other. It is often used to effectuate cross-border payments, and as such, plays an important role in the international financial system. The value of global cross-border payments is estimated to increase from almost $150 trillion in 2017 to over $250 trillion by 2027, according to the Bank of England. Correspondent banking represents a significant portion of this (e.g., the European Central Bank reported roughly $746 billion worth of daily transactions channeled through correspondent banking arrangements within Eurozone countries alone in 2019), as it underpins trade finance, migrant remittances, and humanitarian flows. A typical correspondent banking arrangement is one in which two financial institutions (respondent banks) employ a third party, a separate financial institution known as a correspondent or service-providing bank. The various types of services correspondent banking provide include wire transfers;