BizTerm Definition
Loro account
Full Definition

(1) An ISO term. An account serviced by a bank on behalf of an account owner bank. (2) An account held by a bank in our books on behalf of another (=correspondent) bank. In principle, a liability account representing balances maintained with the reporting entity for another bank. (3) Loro accounts are also known as "vostro accounts" and "due to accounts".

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