BIS Committee on Payments and Market Infrastructures Publishes New Correspondent Banking Data

Over the last decade the volume and value of cross-border payments has increased by 61% and 37%, respectively, while the number of correspondent banking relationships has fallen by 29%.
The BIS Committee on Payments and Market Infrastructures (CPMI) today published data pertaining to 2022.

The correspondent banking network facilitates a large share of cross-border payments and is vital for global trade as well as remittance transfers.

Since 2019, the CPMI has published data based on cross-border payment messages in the global SWIFT network from more than 200 countries and jurisdictions for monitoring developments in the correspondent banking network.

With today’s publication, the CPMI and SWIFT have fulfilled their commitment to the Financial Stability Board to provide an annual quantitative review until 2023.

Access the data here.

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