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Nostro and Vostro are two unique terms used to portray the same
bank account. These terms are utilized when one bank has another
bank's money on deposit, typically in relation to international
trading or other monetary transactions. The two banks in the
endeavor must record the amount of money being stored by one
bank on behalf of the other bank.
Loro account is a combination of an ordinary and a Nostro
account and is maintained by one domestic bank on the behalf of
other domestic banks in a foreign bank denoted in foreign
currency.
Nostro, Vostro, and Loro are variations on the Latin words that
mean "ours", "yours" and "theirs" respectively.
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