I am just reading off internet too. So I may be wrong. In large indirections (or nesting), there is risk for both depositer and CB. Depositer would have to tru

I am just reading off internet too. So I may be wrong. In large indirections (or nesting), there is risk for both depositer and CB. Depositer would have to trust more banks in the chain. For CB nesting means harder to be KYC/KYCC/AML complient [1]. Due to the recent and growing derisking phenomena, nesting is not going to survive. Eurodollar reads like just another name for correspondent banking, which was also used to escape USA regulations. But no longer works. In 2016, BofA dropped Belize Bank (largest bank by assets) after 35-yrs of relationship with no explaination other than regulatory pressure [2]. And thats how USG get a bank whereever it might be. Regarding "a dollar balance held in London", unless you mean hard cash, the amount is just a ledger entry in FedWire. So US is very much involved [3]. [1] https://bizfluent.com/info-10002124-correspondent-payable-through-nested-account.html https://bizfluent.com/info-10002124-correspondent-payable-th... [2] https://www.reuters.com/investigates/special-report/usa-banking-caribbean/ https://www.reuters.com/investigates/special-report/usa-bank... [3] https://en.wikipedia.org/wiki/Society_for_Worldwide_Interbank_Financial_Telecommunication#U.S._control_over_transactions_within_the_EU https://en.wikipedia.org/wiki/Society_for_Worldwide_Interban...