BYN correspondent banking: who clears the BYN

Tracing a BYN chain

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

Who clears BYN payments?

BYN settles through the local clearing system. Banks without direct access hold a nostro account with a correspondent that has it, so a BYN payment reaches the beneficiary by settling at that correspondent first and moving inwards. In the current dataset 27 distinct institutions act as BYN correspondents.

How concentrated is BYN clearing?

The three largest BYN correspondents between them serve about 29% of the banks that publish a BYN 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 BYN correspondent?

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