SEK correspondent banking: who clears the Swedish krona

Tracing a SEK chain

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

Who clears SEK payments?

SEK settles through RIX. Banks without direct access hold a nostro account with a correspondent that has it, so a SEK payment reaches the beneficiary by settling at that correspondent first and moving inwards. In the current dataset 418 distinct institutions act as SEK correspondents.

How concentrated is SEK clearing?

The three largest SEK correspondents between them serve about 32% of the banks that publish a SEK 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 SEK correspondent?

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