Files
详细记录
符号UNCTAD/PRESS/PB/2024/1
标题Correspondent banking relationships and trade
获取English: 1411547-EN - PDF ;
摘要
Banks often use intermediary banks through Correspondent banking relationships (CBRs) to enable cross-border payments. These relationships are, therefore, critical for international trade transactions that rely on those payments. In recent years, CBRs have declined in many developing economies, and the de-risking strategy of some banks contributes to this trend. This decline in CBRs creates a challenge for LDCs, LLDCs, and SIDS to conduct trade. This brief examines the cause of declining CBRs, and presents a preliminary assessment of how it can affect trade, and proposes possible pathways of action. Key Points: Anti-money laundering and countering financing of terrorism (AML/CFT) regulations are essential to combating financial crimes and ensuring the integrity of the financial system. Limited capacity in developing countries to implement AML/CFT raises compliance risks and costs for banks, leading to a decline in correspondent banking relationships (CBRs). Least Developed Countries (LDCs), Landlocked Developing Countries, and Small Island Developing States (SIDS), that lose more CBRs experienced larger reductions in export growth. Efforts are required to reduce divergence in the banks' implementation capacity and step-up support for LDCs, LLDCs, and SIDS.
作者UNCTAD
日期Geneva : UNCTAD ; April 16 2024
描述
7 p.