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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.


adjective adapted, agreeable, agreed, akin, analogous, answerable, apposite, belonging, coequal, coextensive, cognate, coinciding, collateral, comfortable, comparable, commensurable, complementary, concomitant, congruous, consistent, consonant, contemporaneous, correlative, corresponsive, counterpart, equal in effect, equal in force, equal in significance, equal in value, equivalent, fit, fitted, germane, harmonious, mutual, pendent, reciprocal, related, relative, similar, suitable, suited, synonymous, uniform


noun analogue, complement, correlative, counterpart, duplicate, equal, obverse, pendant, reciprocator, similitude
See also: accompanying, agreed, akin, analogous, apposite, appropriate, coequal, coextensive, cognate, collateral, commensurable, comparative, complement, concomitant, concordant, congruous, consistent, consonant, contemporaneous, correlate, correlative, counterpart, fit, germane, harmonious, litigant, mutual, pendent, reciprocal, related, relative, relevant, similar, suitable, uniform
References in periodicals archive ?
Dollar correspondent banking relationships are vital to the Angolan banking system, given Angola's dependence on international trade," said Akintunde Majekodunmi, a Vice President at Moody's.
Tamoney has over 13 years of experience in correspondent sales.
In the decade leading up to the mortgage meltdown of the mid-2000s, correspondent lenders experienced a healthy period of growth.
Samar Baasiri, head of compliance unit at BankMed said correspondent banks relied on the local banks' due diligence.
The survey confirmed that correspondent banking remains an important channel for effecting payments in euro.
MBC correspondents Ghazwan Al-Shammari has been selected as secretary-general.
Joshua Hammer is an award-winning author and foreign correspondent.
Through this transaction, Wachovia will integrate Union Bank's sizeable international correspondent franchise, including 600 bank relationships, the payment and trade processing activity which drives these relationships, and the related loan book in an amount up to $2 billion.
Panel members included Richard Berke, national political correspondent for The New York Times, David Gregory, White House correspondent for NBC News, and Judy Woodruff, senior correspondent and anchor of CNN'S Inside Polities.