Correspondent Banking
A relationship entered into between a small bank and a big bank in which the big bank provides a number of deposit, lending, and other services.
Related Terms
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Financial Institution
Any public or private bank, credit union, or savings and loan, subject to national and state banking laws, and capable of both accepting deposits and making loans. These institutions collect funds from the public or...
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BIS Denied Person list
The Bureau of Industry and Security (BIS) of the U.S. Department of Commerce is responsible for the regulation of exports for national security, foreign policy, and nonproliferation reasons, as well as the enforcement of those...
