Nostro Account
/ˈnɒstroʊ əˌkaʊnt/
Definitions
- (n.) A bank account held by a domestic bank in a foreign bank, denominated in the foreign bank's currency, used to facilitate international transactions.
The bank maintained a nostro account in London to manage its client’s GBP transactions.
Forms
- nostro account
- nostro accounts
Related terms
See also
Commentary
Nostro accounts arise in international banking law and finance, essential for cross-border payment settlements and currency exchange compliance.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.