UAH correspondent banking: who clears the UAH

Tracing a UAH chain

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

Who clears UAH payments?

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

How concentrated is UAH clearing?

The three largest UAH correspondents between them serve about 39% of the banks that publish a UAH 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 UAH correspondent?

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