TND correspondent banking: who clears the TND

Tracing a TND chain

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

Who clears TND payments?

TND settles through the local clearing system. Banks without direct access hold a nostro account with a correspondent that has it, so a TND payment reaches the beneficiary by settling at that correspondent first and moving inwards. In the current dataset 103 distinct institutions act as TND correspondents.

How concentrated is TND clearing?

The three largest TND correspondents between them serve about 33% of the banks that publish a TND 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 TND correspondent?

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