Cross-Border Banking
/ˈkrɒsˌbɔːrdər ˈbæŋkɪŋ/
Definitions
- (n.) The provision of banking services by financial institutions across national borders, subject to multiple jurisdictions and regulatory frameworks.
Cross-border banking requires compliance with both domestic and foreign financial regulations.
- (n.) A legal and regulatory framework governing financial transactions, risk management, and anti-money laundering controls for banks operating transnationally.
Regulators have tightened cross-border banking laws to prevent illicit financial flows.
Forms
- cross-border banking
Related terms
See also
Commentary
Careful drafting of cross-border banking clauses should consider conflicting regulations between jurisdictions and include dispute resolution mechanisms.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.