Correspondent account - it is something without which can not work banks

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2018-04-24 22:00:29

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Correspondent account – it is a necessary requisite for transactions between credit institutions. The combination of these accounts is reflected in the banking account balance room 301 with further detail depending on the type of transaction. Among them are the following:a correspondent account is a

  • Accounts that a commercial Bank opens at the Bank of Russia. It reflect the capital contributions received interbank loans, amounts outstanding assignment, etc. (debit subaccount number 30102). Credit: credits granted on the interbank market, cash payments, transfer of tax amounts, commissions etc.
  • Account with which the credit institution opens in other credit institutions (NOSTRO, are considered on subaccount No. 30110), and accounts that other banks opened in the financial institution (LORO subaccount number 30109). They affect not only their own operations, but the number of transactions its customers.

Correspondent account – this link is for building relationships with foreign banks. Banks can open their accounts in foreign credit institutions. The latter in turn can do the same in domestic financial institutions. In order of detail of the separately allocated account correspondent accounts for operations with precious metals.the correspondent account of Sberbank

Correspondent account – is the ability of a Bank to continually monitor the relationship with other lending institutions, because analytical accounting involves the separation of the operations for all banks offset. In order to comply with currency legislation also allocated to accounts of foreign banks that conduct transactions in Russian rubles (account type “To” and “N” reflected on the sub-30122 and 30123).

Correspondent account – it is, in fact, dvadtsatiletnej number, each digit which has a strictly defined value. The territorial division of the Bank of Russia or the Bank it opens up after a commercial financial institution received the certificate on state registration. In order to open the correspondent accounts in foreign banks, there is need to send us a set of well-defined documents, most of which are subject to transfer and appropriate certification.

the correspondent account of the Bank of RussiaThe Correspondent account of Sberbank may vary for departments in different cities. The first three figures in it is always equal to 301, the second two – is the number of balance accounts (2nd order), followed by three numbers, meaning the account currency (the Russian ruble is encoded 810). Next one the check digit eight digits reserved for the encoding of a Bank account, and the last three match the last three digits BIC of the credit organization. For example, to the Central office of Sberbank of the last digits of correspondent account is equal to 225, and for the Baikal – 607.

Who else might have a correspondent account? The Bank of Russia regards this question as the opening of accounts of this kind for foreign national banks to conduct operations in rubles and other currency.


Article in other languages:

AR: https://tostpost.com/ar/finance/859-correspondent-account---it-is-something-without-which-can-not-work-ban.html

BE: https://tostpost.com/be/f-nansy/1471-karespandenck-rahunak---geta-toe-bez-chago-ne-moguc-pracavac-bank.html

DE: https://tostpost.com/de/finanzen/1468-nostro-konto-ist-etwas-ohne-das-die-banken-nicht-arbeiten-k-nnen.html

ES: https://tostpost.com/es/finanzas/1473-korrespondentskiy-cuenta---es-algo-sin-lo-cual-no-pueden-funcionar-los.html

HI: https://tostpost.com/hi/finance/859-correspondent-account---it-is-something-without-which-can-not-work-ban.html

JA: https://tostpost.com/ja/finance/858-correspondent-account---it-is-something-without-which-can-not-work-ban.html

KK: https://tostpost.com/kk/arzhy/1471-korrespondentt-k-shot---b-l-onsyz-zh-mys-stey-almaydy-bankter.html

PL: https://tostpost.com/pl/finanse/1474-korrespondentskiy-konto---to-jest-co-bez-czego-nie-mog-pracowa-banki.html

PT: https://tostpost.com/pt/finan-as/1471-contas-nostro---algo-sem-o-qual-n-o-podem-trabalhar-bancos.html

TR: https://tostpost.com/tr/maliye/1477-mahsup-hesab-hi-bir-ey-al-mayabilir-bankalar.html

UK: https://tostpost.com/uk/f-nansi/1473-korespondents-kiy-rahunok---ce-te-bez-chogo-ne-mozhut-pracyuvati-banki.html

ZH: https://tostpost.com/zh/finance/918-correspondent-account---it-is-something-without-which-can-not-work-ban.html






Alin Trodden - author of the article, editor
"Hi, I'm Alin Trodden. I write texts, read books, and look for impressions. And I'm not bad at telling you about it. I am always happy to participate in interesting projects."

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