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A Nostro or Vostro (from Latin: nostra and vostra, ours and yours) Account is a deposit account that a bank holds at a foreign or correspondent bank for the purpose of holding foreign currency and making/receiving international payments. A single deposit account is a Nostro account from the perspective of one bank and a Vostro account from the perspective of another. The bank that owns a correspondent account at a bank in another jurisdiction refers to such account as a Nostro account ("our account at your bank"). The correspondent bank will refer to the same account as a Vostro account ("your account with us"), sometime referred as Loro account. For example, DBS Bank Singapore holds its US dollars with Bank of New York Mellon, New York. DBS will refer to its account at BONY as its USD Nostro account, while BONY Mellon will consider it to be DBS Bank's Vostro account.
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