The phrase "a corresponding bank" is correct and usable in written English.
It is typically used in the context of banking and finance to refer to a bank that acts on behalf of another bank, especially in international transactions.
Example: "To facilitate the transfer of funds, we need to establish a relationship with a corresponding bank in the recipient's country."
Alternatives: "an intermediary bank" or "a partner bank".
The buyer then reimburses his bank, which in turn reimburses the corresponding bank for making payment to the seller.
This bank (the "corresponding" bank), having inspected all the relevant documents of title and bills of lading to ensure that the seller has performed, makes payment to the seller, often by means of a bill of exchange or other credit device.
As a consequence, Bank of New York shut down its corresponding banking business in Eastern Europe, which had been flourishing in the 1990s as it built its funds-transfer operations, and it promised to clean up its compliance and monitoring program.
Bank Saderat has seen its corresponding banking relationships - which are essential for a bank to operate effectively internationally - fall from 29 in August 2006 to eight by early 2008.
The northern or principal entrance is defended by a lofty mound raised upon the ramparts, and three ditches, with p51 their corresponding banks, running across the narrow ridge, which is only 50 yards wide, the sides of which descend very precipitously.
Ask the bank in your country for information about corresponding banks in the Boston area.
After years of ignoring demands that the bank adopt transparency rules to help stem illicit terror financing and money laundering, the bank was finally forced to change its ways after corresponding banks it relied on refused to continue to do business with it.
Water was flowing from the reservoir at up to 70,000 cubic feet per second into the Sacramento River, and communities downstream were preparing for a corresponding surge along its banks.
The rise in the repo rate has resulted in a corresponding increase in the prime bank overdraft rate from 10.5% to 11.0%.
