American Express Bank opened correspondent accounts for Credit Bank of Moscow
In February 2006 American Express Bank has opened three correspondent accounts for Credit Bank of Moscow (“CBM”). A US dollar account has been opened in New York, USA, a euro account in Frankfurt am Main, and a yen one in Tokyo, Japan. This correspondent relationship is going to stretch beyond clearing business to trade finance and treasury transactions within the operational credit limits. Credit Bank of Moscow enjoys a ramified international correspondent network involving already three first-rate nostro correspondents in the USA and 16 across Europe. This facilitates efficiency of CBM’s international payments in all major currencies and helps enhance overall quality of services offered to its clients.