Nostro reconciliation

Roles that need it

• Reconciliations Analyst
• Treasury Operations Analyst
• Payments Operations Analyst
• General Accountant

Skills it belongs to

• Period-end close and reconciliations
• Settlement and fails management

Related concepts

• Nostro and vostro accountsA nostro account is an account a bank holds with another bank, usually abroad and in foreign currency (our account with you). The same account seen from the bank that keeps it is a vostro (your account with us), also called a loro account. Nostros let banks make and receive payments in currencies where they have no direct system access.
• camt.053 (bank to customer statement)camt.053 is the ISO 20022 end-of-day account statement a bank sends to a customer, with opening and closing balances and every booked entry, including structured references and remittance data. It replaces the Swift MT 940 and MT 950 and feeds automated reconciliation in treasury and accounting systems.
• MT 940 (customer statement message)MT 940 is the legacy Swift end-of-day customer statement, widely used by companies to load bank balances and entries into ERP and treasury systems. The MT 950 is its interbank counterpart and the MT 942 the intraday version. The ISO 20022 replacements are camt.053 and camt.052, which carry more structured detail.
• Value dateThe value date is the reference date a bank uses to calculate interest on funds debited from or credited to an account. Under PSD2, the payee's credit value date may be no later than the business day on which the funds reach the payee's bank, and the payer's debit value date no earlier than the moment the account is debited.

Sources

• Correspondent banking, CPMI report (2016), Bank for International Settlements (external site) accessed 31 Oct 2026
• ISO 20022 message definitions (external site) accessed 31 Oct 2026

Updated 31 Oct 2026.