Report on the G20 Survey in De-Risking Activities in the Remittance Market

In September 2014, the Group of Twenty (G20) Global Partnership for Financial Inclusion (GPFI) requested the World Bank Group to undertake a survey in the G20 countries on the issue of commercial banks’ actions to de-risk their operations, specific...

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Bibliographic Details
Main Author:	World Bank Group
Format:	Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2015
Subjects:	TERRORISM DEPOSIT FINANCIAL SERVICES REGULATORY FRAMEWORK MARKET STRUCTURE ECONOMIC GROWTH PEOPLE PAYMENT SERVICE MONEY LAUNDERING FINANCING PRINCIPAL INTEREST ACCESS TO PAYMENT DEPOSIT TAKING INSTITUTIONS INDUSTRY REMITTANCE EXCHANGE OPTION PAYMENT SYSTEM BANKING SERVICES SERVICES DEVELOPING COUNTRIES BANK ACCOUNT ACCESS TO BANK EXCLUSION HOUSING REVENUES MONEY TRANSFER PORTFOLIO WELFARE PROVISION OF FINANCE ACCESS POINT REMITTANCE SERVICES REGULATORY SCRUTINY PAYMENTS CREDIT INSTITUTION INTERNATIONAL BANK MARKET INFRASTRUCTURES AGENTS WITHOUT ACCESS REGULATORY AUTHORITIES MICROFINANCE INSTITUTIONS CENTRAL BANK MARKET PARTICIPANTS ACCESS TO BANKING RISK PERCEPTIONS ANTI-MONEY LAUNDERING INTERNATIONAL FINANCE PUBLIC POLICY POLICY RESPONSE SAVINGS PENALTIES LEGAL PROVISIONS DISBURSEMENT LEVEL OF CONFIDENCE BANKING RELATIONSHIPS UNION TRANSFERS FINANCIAL INSTITUTIONS PAYMENT MARKETS LEGISLATION SETTLEMENT FINANCIAL PRODUCTS RISK PERCEPTION COMPETITIVE MARKET BANKERS ENTERPRISES BANKING ASSOCIATIONS NATIONAL BANKERS FINANCE INFRASTRUCTURE BANKING SECTOR BANKS SUPERVISORY AUTHORITIES TRANSACTIONS INTERNATIONAL STANDARDS PAYMENTS INFRASTRUCTURES MONEY MANAGEMENT GOOD RETAIL BANKING TRANSPARENCY FINANCIAL STABILITY SMALL ENTERPRISES LACK OF ACCESS ACCESS TO BANKS MARKET CONDITIONS FUTURE PUBLIC POLICIES VALUE SOURCE OF INCOME FINANCIAL EXCLUSION BANK CREDIT AMOUNT OF RISK CASH MANAGEMENT ACCESS TO BANK ACCOUNTS INTERNATIONAL CLEARING MARKET SUPERVISORY SANCTIONS ACCESS TO BANKING SERVICES BANK ACCOUNT ACCESS RISK PROFILE FINANCIAL SERVICE SUBSIDIARY BANK ACCOUNTS MICROCREDIT PROFITABILITY GOVERNANCE ACCESS TO CREDIT MICROFINANCE WIRE TRANSFERS MARKET SHARE RISK COMMERCIAL BANKS SHARE PAYMENT SERVICES REMITTANCE SERVICE POVERTY INTERNATIONAL STANDARD BANKING REVENUE PRIVATE INVESTMENTS LANGUAGE BARRIERS LEGAL REQUIREMENTS FINANCIAL SUPPORT INVESTMENTS RISK MANAGEMENT LENDING MARKET FINANCE CORRESPONDENT BANKS FEES FAMILIES ACCESS TO BANK ACCOUNT WOMEN OUTREACH REMITTANCES PAYMENT SYSTEMS GOVERNMENTS INTERNATIONAL BANKS CREDIT INSTITUTIONS GUARANTEE CONSUMER PROTECTION ACCOUNT HOLDERS AUDITING RISK MITIGATION DISABLED
Online Access:	http://documents.worldbank.org/curated/en/2015/11/25478384/report-g20-survey-de-risking-activities-remittance-market http://hdl.handle.net/10986/23327

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Summary:	In September 2014, the Group of Twenty (G20) Global Partnership for Financial Inclusion (GPFI) requested the World Bank Group to undertake a survey in the G20 countries on the issue of commercial banks’ actions to de-risk their operations, specifically in relation to non-bank international remittance service providers or, as they are alternatively referred to throughout this report, money transfer operators (MTOs). The objective of the survey was to assess the status of the de-risking phenomenon in the G20 countries, and to collect evidence from which conclusions on the main drivers and the impact for the MTO market could be drawn. The key findings of this survey and the relative recommendations on potential actions are provided in this report to assist the G20 governments, standard setting bodies, private sector entities and the other relevant stakeholders in the financial sector on future discussions on this topic. In addition to working with the G20 on de-risking in the remittance market, the World Bank Group collaborated with the Financial Stability Board (FSB) and the Committee on Payments and Market Infrastructures (CPMI) to conduct a global survey on access to foreign correspondent banking relationships. This survey is focused on banking authorities, large international banks, and regional/local banks. The G20 Finance Ministers and Central Bank Governors endorsed this work in February 2015.

Report on the G20 Survey in De-Risking Activities in the Remittance Market

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