Die Bank Payment Obligation (BPO) ist eine neue Zahlungsbedingung im Außenhandel. Sie wird von Banken angeboten, um die Risiken im Außenhandelsgeschäft sowohl für den Exporteur als auch für den Importeur zu reduzieren. Die BPO ist eine unwiderrufliche Zahlungsverpflichtungserklärung der...

This paper focuses on the withdrawal of correspondent banking relationships (CBRs) in some jurisdictions post-global financial crisis. It describes existing evidence and consequences of the withdrawal of CBRs and explores drivers of this phenomenon drawing on recent surveys and select country...

We exploit proprietary information on severed correspondent banking relationships (due to the stricter enforcement of financial crime regulation) to assess how payment disruptions impede cross-border trade. Using firm-level export data from emerging Europe, we show that when local respondent...

New financial technologies - including those underpinning cryptocurrencies - herald broader access to the financial system, quicker and more easily verifiable settlement of transactions and payments, and lower transaction costs. Domestic and cross-border payment systems are on the threshold of...