Originator leg
From ACT Wiki
Payments - correspondent banking - SWIFT - Financial Stability Board (FSB).
The originator leg is a concept in correspondent banking.
A correspondent banking payment over SWIFT - at the total time it takes - 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 more of a 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
- [https://www.fsb.org/uploads/P211024-3.pdf Annual Progress Report on Meeting the Targets for Cross-border Payments - October 2024 - Financial Stability Board.
