BIS research finds 20% drop in active correspondent banks
Retreat from correspondent banking could drive people into “unregulated channels”, authors warn
The number of active correspondent banks has declined sharply in recent years and threatens to push people into less regulated parts of the financial system, research published by the Bank for International Settlements warns.
Tara Rice, Goetz von Peter and Codruta Boar analyse data from Swift to show the number of active correspondents has fallen 20% since 2011.
“Virtually all” countries lost correspondents over the period, although Latin America was the worst affected.
Over the same period
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