Article 13 › 3

In respect of cross-frontier correspondent banking relationships with respondent institutions from third countries, Member States shall require their credit institutions to: (a) gather sufficient information about a respondent institution to understand fully the nature of the respondent's business and to determine from publicly available information the reputation of the institution and the quality of supervision; (b) assess the respondent institution's anti-money laundering and anti-terrorist financing controls; (c) obtain approval from senior management before establishing new correspondent banking relationships; (d) document the respective responsibilities of each institution; (e) with respect to payable-through accounts, be satisfied that the respondent credit institution has verified the identity of and performed ongoing due diligence on the customers having direct access to accounts of the correspondent and that it is able to provide relevant customer due diligence data to the correspondent institution, upon request.

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Source: EUR-Lex CELLAR · retrieved 2026-09-05