Correspondent banking relationships have been terminated because financial institutions are de-risking due to anti-money laundering and counter financing of terrorism (AML/CFT) rules according to a report published by the European Banking Authority (EBA).

Respondent banks that contributed to the EBA report on de-risking and its impact on access to financial services said decisions to end correspondent relationships are being made by financial institutions regardless of the respondent banks’ individual AML/CFT efforts.

You need to be logged in to view this article.

If you are an existing subscriber please enter your credentials to log in.

To become a member of The Association of Trade Finance Compliance Professionals (ATFCP) click here!