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Counterparty · Correspondent bank

Loxahatchee Atlantic Bank

Loxahatchee Atlantic Bank has been the onshore US correspondent for the Palm Beach founding office since 2019. It provides domestic dollar clearing, receives client subscriptions from North American investors, and holds the operating accounts of the Delaware vehicles. Around 30 per cent of the group's US dollar payment volume routes through its Miami operations centre. It is the largest of the 49 correspondent relationships in the Americas managed from Brickell Atrium.

Type
Correspondent bank
City
Miami
Region
North America
Relationship since
2019

The relationship

The Miami relationship gives the group a second dollar route that is independent of the Cayman correspondent. Both banks are tested quarterly under the Business Continuity policy, and either can carry the full payment load for a week. Loxahatchee also settles the Commercial Finance division's receivables purchases from Florida and Gulf Coast suppliers.

Services to IGUAKO and its clients

  • Domestic US dollar clearing and operating accounts
  • Subscription and redemption receipt for North American investors
  • Operating accounts for Delaware vehicles
  • Receivables settlement for Commercial Finance

Also in the region

North America.