Meaning of CORRESPONDENT CENTRAL BANKING MODEL in English
- CORRESPONDENT CENTRAL BANKING MODEL
A mechanism established by the European System of Central Banks with the aim of enabling counterparties to use underlying assets in a cross-border context. In the CCBM, national central banks act as custodians for one another. This means that each national central bank has a securities account in its securities administration for each of the other national central banks (and for the ECB).
European Central Bank English Glossary. Английский глоссарий Европейского Центрального Банка. 2012