As part of its efforts to address the significant decline in global correspondent banking relationships since 2011, BAFT today released a “Respondent’s Playbook” that provides guidance on how to establish new correspondent relationships, review existing ones and increase the likelihood of a favorable outcome. The playbook is available free for BAFT members and for purchase by non-members.
“The playbook is a realistic window into actively managing de-risking,” said Tod Burwell, president and CEO of BAFT, which is the American Bankers Association’s global transaction banking subsidiary. “It discusses the three major drivers in a correspondent’s decision process when considering a new or reviewing an existing relationship, and empowers a respondent to improve its circumstances by adopting certain best practices.”
The playbook draws on insights from global correspondent banks as well as respondents. BAFT will complement the new resource with two-day instructor-led courses in jurisdictions most affected by the decline in correspondent relationships.