Originator leg

Payments - correspondent banking - SWIFT - Financial Stability Board (FSB).

The originator leg is a concept in correspondent banking.

A correspondent banking payment over SWIFT - and the total time it takes to be credited to the beneficiary's account - can be viewed as comprising:

• Originator leg

• In-flight leg and

• Beneficiary leg.

The originator leg is the time from a payer initiating a payment with its originating bank until the originating bank submits that payment on SWIFT's network.

In terms of delays, it is more often the in-flight leg and the beneficiary leg that are a greater problem.

(Source - Annual Progress Report on Meeting the Targets for Cross-border Payments p45 - October 2024 - Financial Stability Board.)

See also

• Beneficiary leg
• Correspondent banking
• Documentary collection
• In-flight leg
• Network bank
• Nostro account
• Originator
• Payments and payment systems
• SLA partner banking
• Society for Worldwide Interbank Financial Telecommunications (SWIFT)

Other resource

• Annual Progress Report on Meeting the Targets for Cross-border Payments - October 2024 - Financial Stability Board