HNL correspondent banking: who clears the HNL

Tracing a HNL chain

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

Who clears HNL payments?

HNL settles through the local clearing system. Banks without direct access hold a nostro account with a correspondent that has it, so a HNL payment reaches the beneficiary by settling at that correspondent first and moving inwards. In the current dataset 3 distinct institutions act as HNL correspondents.

How concentrated is HNL clearing?

The three largest HNL correspondents between them serve about 100% of the banks that publish a HNL 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 HNL correspondent?

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