Vostro account: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson m (Spacing 14/8/13) |
imported>Michele Allman-Ward mNo edit summary |
||
| Line 9: | Line 9: | ||
* [[Correspondent banking]] | * [[Correspondent banking]] | ||
* [[Nostro account]] | * [[Nostro account]] | ||
* [[Loro account]] | |||
Revision as of 15:54, 17 October 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.
