TJS correspondent banking: who clears the TJS

Tracing a TJS chain

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

Who clears TJS payments?

TJS settles through the local clearing system. Banks without direct access hold a nostro account with a correspondent that has it, so a TJS payment reaches the beneficiary by settling at that correspondent first and moving inwards. In the current dataset 12 distinct institutions act as TJS correspondents.

How concentrated is TJS clearing?

The three largest TJS correspondents between them serve about 72% of the banks that publish a TJS 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 TJS correspondent?

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