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GHSGHS

GHS correspondent banking: who clears the GHS

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

GHS in the instruction data

Aggregate figures from the current SWIFT standing settlement instruction dataset.

143
banks publish a GHS instruction
30
correspondents serve GHS
50%
served by the top three
34
countries represented

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

Tracing a GHS chain

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

Who clears GHS payments?
GHS settles through the local clearing system. Banks without direct access hold a nostro account with a correspondent that has it, so a GHS payment reaches the beneficiary by settling at that correspondent first and moving inwards. In the current dataset 30 distinct institutions act as GHS correspondents.
How concentrated is GHS clearing?
The three largest GHS correspondents between them serve about 50% of the banks that publish a GHS 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 GHS correspondent?
Search the bank's BIC, select GHS, and the chain resolves hop by hop to the institution that clears the currency, including the nostro account number on each relationship.
Trace a GHS chainHow it works

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