TBH this is probably why there's the discrepancy with the Bahamian bank inflow/outflow numbers now that I think about it
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Thank you for this info! Highly appreciate your time today Sam! This could explain the discrepancy by looking at currency inflows in the Bahamas.
But may I ask one further question to understand it better: Are you wiring to foreign Deltec branches or to other institutes?
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very insightful! very last question: which institutes do you use beside of Deltec to wire funds to bitfinex/tether?
some names could be really interesting to know & would help to understand the Deltec / Bahamas money inflow controversy
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Was this not obvious?
Of course deltec use correspondent banks
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This is the question we have been trying to get answered definitively. Where are they wiring the money...to Deltec directly or to a correspondent bank.
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You dont wire to correspondent bank, you write to beneficiary bank. If they dont wire to Deltec, they are wiring it *someplace else*.
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But the funds could be stored on Deltec's accounts at the correspondend bank (via nostro/vostro). Then there would be no inflow into the Bahamas. Please correct me if I'm wrong
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No that's incorrect. The wire contains the senders bank and the receiving bank details. Additionally (cross border) the sender & receiver *banks* correspondent banks (and any intermediate bank) details are included. How banks reconcile it internally is not relevent.
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So the funds cannot be deposited (e.g. for Deltec) at the correspondent bank and in any case they have to flow to the Bahamas? So we would have to see them in the CB publishings?
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is correct above -- there are such things as nostro/vostro accts that work as they described
"There are such things as nostro/vestro accts"
Yes, there are. There are also debits, credits, double entry system, btr reporting, suspense accounts - many terms are used in banking, all of which are equally irrelevant to the question of where you sent the money to.
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