KZT correspondent banking: who clears the KZT

Tracing a KZT chain

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

Who clears KZT payments?

KZT settles through the local clearing system. Banks without direct access hold a nostro account with a correspondent that has it, so a KZT payment reaches the beneficiary by settling at that correspondent first and moving inwards. In the current dataset 61 distinct institutions act as KZT correspondents.

How concentrated is KZT clearing?

The three largest KZT correspondents between them serve about 46% of the banks that publish a KZT 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 KZT correspondent?

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