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| Definition Of: |
Nostro Accounts
Demand accounts of banks with their correspondents in foreign countries in the currency of that country. Such accounts are used to make and receive payments in foreign currencies for a bank's customers and to settle maturing foreign exchange contracts. Also called due from foreign bank-demand accounts, or balances with them, or due from balances.
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UNODC Money Laundering Terms Dictionary INDEX:
List of Terms: Terms beginning with "A", Page 1 |
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1 A: Page 1 of 1.
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