Who clears BOB payments?

BOB settles through the local clearing system. Banks without direct access hold a nostro account with a correspondent that has it, so a BOB payment reaches the beneficiary by settling at that correspondent first and moving inwards. In the current dataset 4 distinct institutions act as BOB correspondents.

How concentrated is BOB clearing?

The three largest BOB correspondents between them serve about 100% of the banks that publish a BOB instruction. Concentration matters because the withdrawal of one correspondent can affect a large number of respondent banks at once.

How do I find a bank's BOB correspondent?

Search the bank's BIC, select BOB, and the chain resolves hop by hop to the institution that clears the currency, including the nostro account number on each relationship.

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BOB correspondent banking: who clears the BOB

Banks without direct access to BOB clearing settle through a correspondent that has it. BOB settles through its domestic clearing system.

BOB in the instruction data

Aggregate figures from the current SWIFT standing settlement instruction dataset.

2: banks publish a BOB instruction
4: correspondents serve BOB
100%: served by the top three
2: countries represented

Individual instructions, BICs and account numbers are available to subscribers.

Tracing a BOB chain

Each instruction names the institution holding that bank's BOB account. Following those links repeatedly ends at a bank that publishes no onward BOB instruction — the ultimate clearer, with direct access to clearing. That is where the money actually settles before moving inwards to the beneficiary.

Who clears BOB payments?: BOB settles through the local clearing system. Banks without direct access hold a nostro account with a correspondent that has it, so a BOB payment reaches the beneficiary by settling at that correspondent first and moving inwards. In the current dataset 4 distinct institutions act as BOB correspondents.
How concentrated is BOB clearing?: The three largest BOB correspondents between them serve about 100% of the banks that publish a BOB instruction. Concentration matters because the withdrawal of one correspondent can affect a large number of respondent banks at once.
How do I find a bank's BOB correspondent?: Search the bank's BIC, select BOB, and the chain resolves hop by hop to the institution that clears the currency, including the nostro account number on each relationship.

Trace a BOB chain How it works

BOB correspondent banking: who clears the BOB

BOB in the instruction data

Tracing a BOB chain

Other currencies