Deposit held by one bank for another bank, usually a correspondent. Each bank holds a Due to Account in the name of the other bank. An account on the books of a foreign correspondent is a Nostro Account to the bank owning the account, and a Vostro Account as viewed by the foreign correspondent.
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 | Banking Dictionary. Dictionary of Banking Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved. Read more |
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