correspondent relationships definition
correspondent relationships means the provision of correspondent banking services by a bank in The Bahamas as the correspondent to a respondent financial institution, including providing a current or other liability account and related services, such as cash management, international funds transfers, cheque clearing, payable-through accounts and foreign exchange services;
correspondent relationships means accounts maintained by banks for the settlement of interbank services (remittances of bills, bank and cashier's checks, deposit orders, rounds of funds, documented remittances, and other transactions) as well as relationships, however denominated, maintained between banking and financial intermediaries used for the settlement of transactions on behalf of customers of respondent institutions (e.g., securities deposit, investment services, foreign exchange transactions, document collection services, issuance or management of debit or credit cards);