BTN correspondent banking: who clears the BTN

Tracing a BTN chain

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

Who clears BTN payments?

BTN settles through the local clearing system. Banks without direct access hold a nostro account with a correspondent that has it, so a BTN payment reaches the beneficiary by settling at that correspondent first and moving inwards. In the current dataset 3 distinct institutions act as BTN correspondents.

How concentrated is BTN clearing?

The three largest BTN correspondents between them serve about 100% of the banks that publish a BTN 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 BTN correspondent?

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