Increased Regulation and De-Risking Are Impeding Cross-Border Financing in Emerging Markets

• Tác giả: Ariane Volk
• Ngôn ngữ: eng
• Ký hiệu phân loại: 332.15 International banks
• Thông tin xuất bản: International Finance Corporation, Washington, DC, 2018
• Bộ sưu tập: Tài liệu truy cập mở
• ID: 244941
• Chủ đề: 1. ANTI-MONEY LAUNDERING; 2. COMBATING THE FINANCING OF TERRORISM; 3. CORRESPONDENT BANKING; 4. EMERGING MARKET ECONOMIES; 5. TRADE FINANCE

Tóm tắt

Correspondent banking relationships connect banks and people across borders and are critical to finance and trade. They are a vital link between emerging markets and the broader global economy. Yet efforts to combat money laundering and the financing of terrorism have increased compliance requirements for banks. Difficulties adhering to these requirements and increased costs associated with them threaten the ability of banks to serve their customers, while also eroding the number and quality of correspondent banking relationships. A recent International Finance Corporation (IFC) survey shows that many banks are feeling the pressure of increased regulation and de-risking, and emerging market banks are bearing the brunt of it.