The disconnection of local banks from correspondent banking services could affect remittances

Imagine this. You, a partner or family member is working overseas. You have been sending money home to support an aging relative or to make a regular payment on a mortgage. You go to the Caribbean money transfer business that you have always used, only to be told your money can no longer be accepted because there is no intermediary bank in Europe or the US willing to work with it despite its absolute reliability and positive track record.

Although oversimplified, this scenario is not impossible as changing international regulations and risk aversion are having