BZD correspondent banking: who clears the BZD

Tracing a BZD chain

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

Who clears BZD payments?

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

How concentrated is BZD clearing?

The three largest BZD correspondents between them serve about 75% of the banks that publish a BZD 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 BZD correspondent?

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