Correspondent banking trends and developments in 2019

On 06 November the ECB published its eleventh survey on correspondent banking in euro for 2019. 

The findings from the 2019 survey show a decrease in the average size of transactions processed compared to the previous 2016 survey. The decrease in the average transaction size is reflected in a 37% increase in the average daily volume and a 22% decrease in the average daily value of transactions. The most frequently cited reasons for the decline in turnover as well as in the number of banks that are using correspondent banking services are increasing regulatory requirements related to anti-money laundering and combating the financing of terrorism (AML/CFT), including know your customer (KYC) procedures.

Please find the entire survey here.