Today, the U.S. Department of the Treasury released a Joint Fact Sheet on Foreign Correspondent Banking developed with the Federal Reserve Board, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency that outlines supervisory and enforcement processes with respect to anti-money laundering and sanctions in the area of correspondent banking.

The [Fact Sheet]( describes the expectations of U.S. regulators, the supervisory examination process, and the use of enforcement actions.

Correspondent banking relationships help improve livelihoods and foster global economic growth by enabling banks to facilitate international trade, conduct cross-border business and charitable activities, and provide U.S. dollar financing. The U.S. financial system is a critical part of the global economy, and the U.S. government believes that expanding access to that system and protecting it from illicit activity are mutually reinforcing goals that can and must be addressed simultaneously.

[US Treasury Blog on the Joint Fact Sheet on Foreign Correspondent Banking](—Protecting-the-Financial-System-from-Abuse-and-Expanding-Access-to-the-Financial-System.aspx)