Browsing: Correspondent banking

Compliance

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.

Newsbytes

BAFT — ABA’s global transaction banking subsidiary — yesterday recognized the 32 members of its Future Leaders program class of 2019. This year’s class includes bankers from 14 different countries, representing a wide variety of disciplines within the transaction banking industry.

Compliance

In response to the “derisking” trend in anti-money laundering and Bank Secrecy Act compliance, the OCC will soon issue guidance that articulates its expectations for banks to routinely evaluate risk in their foreign correspondent banking portfolios, Comptroller of the Currency Thomas Curry said today.

Compliance

The Basel, Switzerland-based Financial Stability Board published a report recently outlining steps taken in response to a decline in the number of worldwide correspondent banking relationships — a sign of “derisking” as banks respond to stepped-up regulatory focus on anti-money laundering compliance.

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