UZS correspondent banking: who clears the UZS

Tracing a UZS chain

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

Who clears UZS payments?

UZS settles through the local clearing system. Banks without direct access hold a nostro account with a correspondent that has it, so a UZS payment reaches the beneficiary by settling at that correspondent first and moving inwards. In the current dataset 16 distinct institutions act as UZS correspondents.

How concentrated is UZS clearing?

The three largest UZS correspondents between them serve about 48% of the banks that publish a UZS 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 UZS correspondent?

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