What is a Closing Agent?

The payment and settlement agent refers to the behavior between the two parties of a commercial bank in which one party entrusts the other party to handle their payment and settlement business. The entrusting party is the correspondent bank, and the entrusted party is the correspondent bank. Mainly include agency bank drafts, agency exchanges, agency interbank cash, etc.

Payment settlement agency business

Right!
The payment and settlement agent refers to the behavior between the two parties of a commercial bank in which one party entrusts the other to handle its payment and settlement business. The entrusting party is the correspondent bank, and the entrusted party is the correspondent bank. Mainly include agency bank drafts, agency exchanges, agency interbank cash, etc.
1 Shi Deying, editor. Commercial Banking Institutions Financial Business. China Finance Press, 2010.04.
2 Dai Guoqiang, editor. Commercial Banking Business and Management Foundation. Shanghai People's Publishing House, 2007.1. [1]

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