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SLLSLL

SLL correspondent banking: who clears the SLL

Banks without direct access to SLL clearing settle through a correspondent that has it. SLL settles through its domestic clearing system.

SLL in the instruction data

Aggregate figures from the current SWIFT standing settlement instruction dataset.

2
banks publish a SLL instruction
1
correspondents serve SLL
100%
served by the top three
2
countries represented

Individual instructions, BICs and account numbers are available to subscribers.

Tracing a SLL chain

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

Who clears SLL payments?
SLL settles through the local clearing system. Banks without direct access hold a nostro account with a correspondent that has it, so a SLL payment reaches the beneficiary by settling at that correspondent first and moving inwards. In the current dataset 1 distinct institutions act as SLL correspondents.
How concentrated is SLL clearing?
The three largest SLL correspondents between them serve about 100% of the banks that publish a SLL 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 SLL correspondent?
Search the bank's BIC, select SLL, and the chain resolves hop by hop to the institution that clears the currency, including the nostro account number on each relationship.
Trace a SLL chainHow it works

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