Report on the G20 Survey in De-Risking Activities in the Remittance Market

In September 2014, the Group of Twenty (G20) Global Partnership for Financial Inclusion (GPFI) requested the World Bank Group to undertake a survey in the G20 countries on the issue of commercial banks’ actions to de-risk their operations, specifically in relation to non-bank international remittance service providers or, as they are alternatively referred to throughout this report, money transfer operators (MTOs). The objective of the survey was to assess the status of the de-risking phenomenon in the G20 countries, and to collect evidence from which conclusions on the main drivers and the impact for the MTO market could be drawn. The key findings of this survey and the relative recommendations on potential actions are provided in this report to assist the G20 governments, standard setting bodies, private sector entities and the other relevant stakeholders in the financial sector on future discussions on this topic. In addition to working with the G20 on de-risking in the remittance market, the World Bank Group collaborated with the Financial Stability Board (FSB) and the Committee on Payments and Market Infrastructures (CPMI) to conduct a global survey on access to foreign correspondent banking relationships. This survey is focused on banking authorities, large international banks, and regional/local banks. The G20 Finance Ministers and Central Bank Governors endorsed this work in February 2015.

Bibliographic Details

Main Author:	World Bank Group
Format:	Working Paper biblioteca
Language:	English en_US
Published:	World Bank, Washington, DC 2015-10-01
Subjects:	TERRORISM, DEPOSIT, FINANCIAL SERVICES, REGULATORY FRAMEWORK, MARKET STRUCTURE, ECONOMIC GROWTH, PEOPLE, PAYMENT SERVICE, MONEY LAUNDERING, FINANCING, PRINCIPAL, INTEREST, ACCESS TO PAYMENT, DEPOSIT TAKING INSTITUTIONS, INDUSTRY, REMITTANCE, EXCHANGE, OPTION, PAYMENT SYSTEM, BANKING SERVICES, SERVICES, DEVELOPING COUNTRIES, BANK ACCOUNT, ACCESS TO BANK, EXCLUSION, HOUSING, REVENUES, MONEY TRANSFER, PORTFOLIO, WELFARE, PROVISION OF FINANCE, ACCESS POINT, REMITTANCE SERVICES, REGULATORY SCRUTINY, PAYMENTS, CREDIT INSTITUTION, INTERNATIONAL BANK, MARKET INFRASTRUCTURES, AGENTS WITHOUT ACCESS, REGULATORY AUTHORITIES, MICROFINANCE INSTITUTIONS, CENTRAL BANK, MARKET PARTICIPANTS, ACCESS TO BANKING, RISK PERCEPTIONS, ANTI-MONEY LAUNDERING, INTERNATIONAL FINANCE, PUBLIC POLICY, POLICY RESPONSE, SAVINGS, PENALTIES, LEGAL PROVISIONS, DISBURSEMENT, LEVEL OF CONFIDENCE, BANKING RELATIONSHIPS, UNION, TRANSFERS, FINANCIAL INSTITUTIONS, PAYMENT, MARKETS, LEGISLATION, SETTLEMENT, FINANCIAL PRODUCTS, RISK PERCEPTION, COMPETITIVE MARKET, BANKERS, ENTERPRISES, BANKING ASSOCIATIONS, NATIONAL BANKERS, FINANCE, INFRASTRUCTURE, BANKING SECTOR, BANKS, SUPERVISORY AUTHORITIES, TRANSACTIONS, INTERNATIONAL STANDARDS, PAYMENTS INFRASTRUCTURES, MONEY MANAGEMENT, GOOD, RETAIL BANKING, TRANSPARENCY, FINANCIAL STABILITY, SMALL ENTERPRISES, LACK OF ACCESS, ACCESS TO BANKS, MARKET CONDITIONS, FUTURE, PUBLIC POLICIES, VALUE, SOURCE OF INCOME, FINANCIAL EXCLUSION, BANK, CREDIT, AMOUNT OF RISK, CASH MANAGEMENT, ACCESS TO BANK ACCOUNTS, INTERNATIONAL CLEARING, MARKET, SUPERVISORY SANCTIONS, ACCESS TO BANKING SERVICES, BANK ACCOUNT ACCESS, RISK PROFILE, FINANCIAL SERVICE, SUBSIDIARY, BANK ACCOUNTS, MICROCREDIT, PROFITABILITY, GOVERNANCE, ACCESS TO CREDIT, MICROFINANCE, WIRE TRANSFERS, MARKET SHARE, RISK, COMMERCIAL BANKS, SHARE, PAYMENT SERVICES, REMITTANCE SERVICE, POVERTY, INTERNATIONAL STANDARD, BANKING, REVENUE, PRIVATE INVESTMENTS, LANGUAGE BARRIERS, LEGAL REQUIREMENTS, FINANCIAL SUPPORT, INVESTMENTS, RISK MANAGEMENT, LENDING, MARKET FINANCE, CORRESPONDENT BANKS, FEES, FAMILIES, ACCESS TO BANK ACCOUNT, WOMEN, OUTREACH, REMITTANCES, PAYMENT SYSTEMS, GOVERNMENTS, INTERNATIONAL BANKS, CREDIT INSTITUTIONS, GUARANTEE, CONSUMER PROTECTION, ACCOUNT HOLDERS, AUDITING, RISK MITIGATION, DISABLED,
Online Access:	http://documents.worldbank.org/curated/en/2015/11/25478384/report-g20-survey-de-risking-activities-remittance-market http://hdl.handle.net/10986/23327
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