Vostro account: Difference between revisions
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An account held by a domestic bank on behalf of a (different) foreign bank, when the account balance stands in favour of the foreign bank. | An account held by a domestic bank on behalf of a (different) foreign bank, when the account balance stands in favour of the foreign bank. | ||
The term 'vostro' is derived from Latin, meaning 'in your favour'. | The term 'vostro' is derived from Latin, meaning 'in your favour'. | ||
Also known as a Loro account. | Also known as a Loro account. | ||
== See also == | == See also == | ||
* [[Correspondent banking]] | * [[Correspondent banking]] | ||
* [[Nostro account]] | * [[Nostro account]] | ||
Revision as of 10:15, 14 August 2013
An account held by a domestic bank on behalf of a (different) foreign bank, when the account balance stands in favour of the foreign bank.
The term 'vostro' is derived from Latin, meaning 'in your favour'.
Also known as a Loro account.
