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A Finance/banking term.
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 etc. 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").
For example, D Bank Singapore holds its US dollars with Bank of N, New York . D will refer to its account at Bank of N as its USD Nostro account, while Bank of N will consider it to be D Bank's Vostro account.
Nostro breaks — discrepancies between expected and actual cash settlements.
Commodity derivatives report a higher incidence of nostro breaks than do other products.
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