Correspondent, or the so-called "core. Account" - is a kind of calculus, which are recorded and subsequently displays all kinds of operations of the bank, according to a correspondent agreement committed.In other words, this concept implies a credit organization opened a bank account that is used for the formation of reserve funds or various transfers, made the above-mentioned structure.As a rule, institutions of the Central Bank of the country and any businesses conclude among themselves an agreement that serves to account for the property which they own.
Species
Like any other financial term core.by - a concept that has several directions.There are three types of estimates: loro, nostro and vostro.Let us consider each of them.So, the first type is used to determine the account that is opened by the bank acting as a correspondent, an institution which is the respondent.In other words, such a core.Sberbank account reflects all the operations of any other organization.These records are entered into a liability company.In turn, the nostro cor.by - a calculation of the respondent institution which has concluded an agreement with the correspondent bank.For greater clarity, walk through an example.Two banks (A and B) entered into a correspondent agreement.In the event that the establishment of A need to transfer a certain amount, it can use its nostro account in the bank B. Conversely, if the need arises from the structure of the financial calculations B, all the operations carried out will be reflected on the correspondent account the bank's loro A. Easiersaying nostro - our account at another bank and Loro - their account in our.When the first two species have become widely understood, we can move on to the last type of correspondent accounts - open.Its main feature is that it is a contract concluded between the Central Bank and any foreign institution settled poizvodyatsya either in local currency or bank notes of a third country.This definition is more complementary, so it can not meet as often as the first two.
Typology
In addition, you can select another classification, according to which the distinguished correspondent accounts, both concluded between the commercial and the Central Bank of the country and between the two commercial establishments.The first type occurs when you create a new bank that formed its authorized capital.Upon successful completion of this process, the Central Bank shall issue a license to conduct banking activities, and after the state registration of the existing core.account can be used as a form of property records and the method of implementation of settlement operations.The second type, in turn, implies the existence of an agreement between the two commercial banks, which establishes a specific procedure for the participation of both bodies in financial calculations with clients.
Appointment
should be noted that core.bank account is most often used for money transfers.Currency can be different but it will still be attributed to a single correspondent account.In addition, as mentioned earlier, banks can operate on the above calculus to account for their property.
designation
Like many other financial definitions correspondent account allows you to encrypt all the necessary information in the numeric notation.Central Bank of Russia decided that core.by - a twenty characters, the first three digits indicate that traditional calculus of the first order (301), and the last three numbers contain information about the three-digit number of the participant conditional payments.For example, to / from 30101810600000000957.
