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A bank, Securities firm, or other financial institution that regularly renders services for another in an area or market to which the other party lacks direct access. A bank that functions as an agent for another bank and carries a deposit balance for a bank in another city.

Securities firms may have correspondents in foreign countries or on exchanges—organizations that provide facilities for convening purchasers and sellers of securities—of which the firms are not members.

The term correspondent is distinct from corespondent—a person summoned to respond to litigation, together with another person, particularly, a paramour in a Divorce action based on Adultery.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
But as one paper after another closed foreign bureaus, he realized he needed not only to teach reporters how to work overseas, but to get them there--fast.
It has 15 foreign bureaus and has assigned two major bureaus to each of its four largest papers.
"Quality" isn't just about how many foreign bureaus you have or how long your big features can run.
The grant, meanwhile, will allow us to expand our international coverage at a time most other newspapers are closing or cutting back foreign bureaus for lack of funds.
The scaling back in Baghdad also illustrates a broader scaling back among TV news organisations when it comes to foreign bureaus.
Cairo is one of 107 foreign bureaus filing for Xinhua 's 20 newspapers, websites and 12 magazines in eight languages, including Arabic.
Yet Horrocks hopes to take advantage of the cuts in foreign bureaus by the Big Three in the U.S.
In Editor's Desk, agenda of Turkey and the world is assessed by editors of services, 18 local editor-in-chiefs in Turkey and AA's foreign bureaus such as in Washington, Beijing, Paris, Berlin, London and Cairo.
When other companies slashed newsroom staffs and shuttered domestic and foreign bureaus, the Times did not.
Newsrooms have shrunk dramatically and foreign bureaus have been decimated."
Newsday has closed all of its foreign bureaus, and most major media outlets have abandoned foreign posts.

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