PLN correspondent banking: who clears the PLN

Tracing a PLN chain

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

Who clears PLN payments?

PLN settles through the local clearing system. Banks without direct access hold a nostro account with a correspondent that has it, so a PLN payment reaches the beneficiary by settling at that correspondent first and moving inwards. In the current dataset 296 distinct institutions act as PLN correspondents.

How concentrated is PLN clearing?

The three largest PLN correspondents between them serve about 20% of the banks that publish a PLN 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 PLN correspondent?

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