Front Matter Page
Monetary and Capital Markets
Contents
Abstract
Glossary
I. Introduction
II. Concepts Used for Building a CBR Monitoring Framework
A. Number of Correspondent Banking Relationships
B. Measuring Transaction Volumes and Values
C. Currency Corridors
D. Business Identifier Codes
E. Minimum Scope and Expanded Scope Framework
F. Active Correspondents
G. Direct, Nested or Global Relationships
H. Scope of Services, Restrictions, Profitability
I. SWIFT Payment Messages
J. Initial Ordering and Ultimate Beneficiary Bank
K. Going from Minimum to Expanded Scope Monitoring
III. Minimum Scope CBR Monitoring Framework
A. Data Collection and Database Format
B. Analysis and Reporting Dashboard
C. Additional Analysis
Limitations and Restrictions
Remittances
Credit lines
IV. Expanded Scope Monitoring Framework
A. Data Collection and Database Format
B. Analytical Tool Programmed in R
C. Network Analysis
D. Analysis and Network Maps
V. Conclusion
References
Annex I.A: Minimum Scope Template
Annex I.B: Expanded Scope Template
Annex I.C: Clustering of Business Identifier Codes
Annex II: Programming Code Analytical Tool for Swift Data Analysis
Annex III: Background Network Analysis
Annex IV: CPI List Used for Country Data Analysis
Figures:
Figure 1: Stylized Cross-Border Payment Chain
Figure 2: Stylized Nested Cross-Border Payment Chains
Figure 3: System-Level AC and CBR Development
Figure 4: Bank-Level (B3) AC and CBR Development
Figure 5: Analyzing Remittances Flows
Figure 6. 2016 Institution-Level, System (All U.S. Dollar Relationships)…
Figure 7. 2016 System-Level U.S. Dollar Correspondent Relationships
Figure 8. 2016 System-Level Euro Correspondent Banking Relationships
Figure 9. 2016 System-Level All Correspondent Banking Relationships…
Figure 10. 2016 Bank-Level Correspondent Relationships
Figure 11. 2016 Country-Level, System (All Relationships)
Figure 12. 2016 Country-Level, System (All Relationships)
Boxes:
Box 1. Network Analysis: Selection Menu in Program Code
Glossary
| AC |
Active Correspondent |
| BIC8 |
Eight Character Business Identifier Code |
| CB |
Correspondent Bank |
| CBCG |
Correspondent Banking Coordination Group |
| CBR |
Correspondent Banking Relationship |
| CPMI |
Committee for Payments and Market Infrastructures |
| CSV |
Comma Separated Values |
| FATF |
Financial Action Task Force |
| FIU |
Financial Intelligence Unit |
| FSB |
Financial Stability Board |
| GPFI |
Global Partnership for Financial Inclusion |
| G-SIBs |
Globally Systemically Important Banks |
| IMF |
International Monetary Fund |
| ITRS |
International Transaction Reporting System |
| ISO |
International Organization for Standardization |
| MCM |
Monetary and Capital Markets Department |
| MT |
Message Type |
| MTO |
Money Transfer Operators |
| WB |
World Bank |