De-Risking and Other Challenges in the Emerging Market Financial Sector : Findings from IFC’s Survey on Correspondent Banking

This paper examines the relationship between increasing compliance costs and correspondent bank de-risking, among other challenges, and the ability of private-sector banks in emerging markets to continue providing international banking services to...

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Main Authors:	Stames, Susan, Kurdyla, Michael, Prakash, Arun, Volk, Ariane, Wang, Shengnan
Format:	Survey
Language:	English
Published:	International Finance Corporation, Washington, D.C. 2017
Subjects:	EMERGING MARKET BANK FINANCE CORRESPONDENT BANKING EMERGING MARKET ECONOMIES ACCESS TO FINANCE FINANCIAL INSTITUTIONS REGULATION AML/CFT FINANCIAL TECHNOLOGY INTERNATIONAL BANKING REMITTANCES TRADE FINANCE CURRENCY SETTLEMENT FINANCIAL INCLUSION
Online Access:	http://documents.worldbank.org/curated/en/895821510730571841/De-risking-and-other-challenges-in-the-emerging-market-financial-sector-findings-from-IFC-s-survey-on-correspondent-banking http://hdl.handle.net/10986/28968

id	okr-10986-28968
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spelling	okr-10986-289682021-05-25T10:54:40Z De-Risking and Other Challenges in the Emerging Market Financial Sector : Findings from IFC’s Survey on Correspondent Banking Stames, Susan Kurdyla, Michael Prakash, Arun Volk, Ariane Wang, Shengnan EMERGING MARKET BANK FINANCE CORRESPONDENT BANKING EMERGING MARKET ECONOMIES ACCESS TO FINANCE FINANCIAL INSTITUTIONS REGULATION AML/CFT FINANCIAL TECHNOLOGY INTERNATIONAL BANKING REMITTANCES TRADE FINANCE CURRENCY SETTLEMENT FINANCIAL INCLUSION This paper examines the relationship between increasing compliance costs and correspondent bank de-risking, among other challenges, and the ability of private-sector banks in emerging markets to continue providing international banking services to their customers. The IFC Financial Institutions Group, which provides investment and advisory services to banks, microfinance institutions, mortgage and insurance companies, and other financial services providers in emerging markets, has built a global network of hundreds of clients in more than one hundred countries who rely on cross-border banking to serve the needs of their customers and, through their customers, their countries. This paper seeks to enlighten the public discourse on de-risking by sharing insights gleaned from the perspectives of IFC’s network of global emerging market financial institution clients. In this discussion, the authors present the results of the 2017 Correspondent Banking in Emerging Markets survey, undertaken by IFC to capture both data and information from IFC client banks in ninety two emerging markets. 2017-12-06T23:35:14Z 2017-12-06T23:35:14Z 2017-09-01 Survey http://documents.worldbank.org/curated/en/895821510730571841/De-risking-and-other-challenges-in-the-emerging-market-financial-sector-findings-from-IFC-s-survey-on-correspondent-banking http://hdl.handle.net/10986/28968 English CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo World Bank International Finance Corporation, Washington, D.C. Publications & Research Publications & Research :: Working Paper
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	EMERGING MARKET BANK FINANCE CORRESPONDENT BANKING EMERGING MARKET ECONOMIES ACCESS TO FINANCE FINANCIAL INSTITUTIONS REGULATION AML/CFT FINANCIAL TECHNOLOGY INTERNATIONAL BANKING REMITTANCES TRADE FINANCE CURRENCY SETTLEMENT FINANCIAL INCLUSION
spellingShingle	EMERGING MARKET BANK FINANCE CORRESPONDENT BANKING EMERGING MARKET ECONOMIES ACCESS TO FINANCE FINANCIAL INSTITUTIONS REGULATION AML/CFT FINANCIAL TECHNOLOGY INTERNATIONAL BANKING REMITTANCES TRADE FINANCE CURRENCY SETTLEMENT FINANCIAL INCLUSION Stames, Susan Kurdyla, Michael Prakash, Arun Volk, Ariane Wang, Shengnan De-Risking and Other Challenges in the Emerging Market Financial Sector : Findings from IFC’s Survey on Correspondent Banking
description	This paper examines the relationship between increasing compliance costs and correspondent bank de-risking, among other challenges, and the ability of private-sector banks in emerging markets to continue providing international banking services to their customers. The IFC Financial Institutions Group, which provides investment and advisory services to banks, microfinance institutions, mortgage and insurance companies, and other financial services providers in emerging markets, has built a global network of hundreds of clients in more than one hundred countries who rely on cross-border banking to serve the needs of their customers and, through their customers, their countries. This paper seeks to enlighten the public discourse on de-risking by sharing insights gleaned from the perspectives of IFC’s network of global emerging market financial institution clients. In this discussion, the authors present the results of the 2017 Correspondent Banking in Emerging Markets survey, undertaken by IFC to capture both data and information from IFC client banks in ninety two emerging markets.
format	Survey
author	Stames, Susan Kurdyla, Michael Prakash, Arun Volk, Ariane Wang, Shengnan
author_facet	Stames, Susan Kurdyla, Michael Prakash, Arun Volk, Ariane Wang, Shengnan
author_sort	Stames, Susan
title	De-Risking and Other Challenges in the Emerging Market Financial Sector : Findings from IFC’s Survey on Correspondent Banking
title_short	De-Risking and Other Challenges in the Emerging Market Financial Sector : Findings from IFC’s Survey on Correspondent Banking
title_full	De-Risking and Other Challenges in the Emerging Market Financial Sector : Findings from IFC’s Survey on Correspondent Banking
title_fullStr	De-Risking and Other Challenges in the Emerging Market Financial Sector : Findings from IFC’s Survey on Correspondent Banking
title_full_unstemmed	De-Risking and Other Challenges in the Emerging Market Financial Sector : Findings from IFC’s Survey on Correspondent Banking
title_sort	de-risking and other challenges in the emerging market financial sector : findings from ifc’s survey on correspondent banking
publisher	International Finance Corporation, Washington, D.C.
publishDate	2017
url	http://documents.worldbank.org/curated/en/895821510730571841/De-risking-and-other-challenges-in-the-emerging-market-financial-sector-findings-from-IFC-s-survey-on-correspondent-banking http://hdl.handle.net/10986/28968
_version_	1764468065804746752

De-Risking and Other Challenges in the Emerging Market Financial Sector : Findings from IFC’s Survey on Correspondent Banking

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