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This paper explores the extent to which formal, regulated financial institutions such as banks have been able to partner with "correspondents"-commercial entities whose primary objective and business is other than the provision of financial services. The paper illustrates the case of Brazil, where banks recently have developed extensive networks of such correspondents. Such arrangements result in lower costs and shared risks for participating financial institutions, making these arrangements an attractive vehicle for outreach to the underserved. Correspondent banking requires an enabling envir

Zonder onderwerpscode: wereldeconomie, ontwikkelingsproblematiek --- Correspondent banks --- Banks, Correspondent --- Banks and banking

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The paper looks at feasible concrete action that can be taken by correspondent and respondent banks, money transfer operators, the Pacific authorities, the Australian and New Zealand authorities, and international organizations.

Correspondent banks --- Emigrant remittances --- Banks and banking --- Banks and banking. --- Correspondent banks. --- Emigrant remittances. --- Pacific Area. --- Banks, Correspondent --- Immigrant remittances --- Remittances, Emigrant --- Foreign exchange --- Agricultural banks --- Banking --- Banking industry --- Commercial banks --- Depository institutions --- Finance --- Financial institutions --- Money --- Asia-Pacific Region --- Asian and Pacific Council countries --- Asian-Pacific Region --- Pacific Ocean Region --- Pacific Region --- Pacific Rim --- Anti-money laundering and combating the financing of terrorism (AML/CFT) --- Balance of payments --- Banks and Banking --- Banks --- Compliance costs --- Corporate crime --- Correspondent banking --- Crime --- Criminology --- Depository Institutions --- Development banks --- Exports and Imports --- Financial Institutions and Services: General --- Financial services --- Illegal Behavior and the Enforcement of Law --- Industries: Financial Services --- International economics --- International finance --- International Lending and Debt Problems --- Micro Finance Institutions --- Money laundering --- Mortgages --- Multilateral development institutions --- Public finance & taxation --- Remittances --- Revenue administration --- Tax administration and procedure --- Tax Evasion and Avoidance --- Taxation --- White-collar crime --- New Zealand