NostroVostro
NostroVostro Accounts
| Command | Description |
|---|---|
| getNostroVostro [options] | list all nostro accounts and location of vostro |
A nostro acount is an account which records an asset held at another participant. So if a commercial bank holds USD at the Federal Reserve, for example, it records its Fed balance as an asset in a nostro account on its own ledger. The Federearl Reserve records the same balance as a liability (an amount owed to the commercial bank). The term 'nostro' is derived from the latin for 'ours'. The same account recored by the Fed is often called a 'vostro' account - derived from the latin for 'yours'.
One of the biggest administrative tasks in financial services is to 'reconcile nostros'. This is the process of making sure that the bank's nostro accounts line up with the respective vostro accounts.
ledgerswarm getNostroVostro
Shows the Nostro accounts in the ledger and maps those Nostro accounts onto an external account at another participant.
