Depository Relationship

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August 25, 2024 4 min read Definitions

Correspondent: Financial Organization Providing Special Services

Banking Finance Correspondent Banking Financial Services Banking Relationships Depository Relationship International Banking

A correspondent in the financial context refers to an organization that regularly performs services for another organization within a market that may be inaccessible to the latter. This term is widely used in banking, where a correspondent relationship typically involves a depository component to cover expenses and streamline transactions.