International payment - Chapter 1 Comprehensive Questions With 100% Verified Answers.
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Course
MNB
Institution
MNB
international bank - correct answer A multinational bank (MNB) is a bank with cross-border representative offices, cross-border branches (legally dependent), subsidiaries (legally independent)
international banking - correct answer ...
international bank - correct answer A multinational bank (MNB) is a bank with
cross-border representative offices, cross-border branches (legally dependent), subsidiaries (legally
independent)
international banking - correct answer The banks engage in the banking
business, if the nationality of customer and bank differ and the banking activities are cross-border
Types of international bank - correct answer Correspondent bank
Foreign branch bank
Representative office
Accounts for foreign transaction - correct answer Nostro account
Vostro account
Nostro account - correct answer An account that a bank holds in a foreign
currency in another bank.
Vostro Account - correct answer An account held by the domestic bank in its
home country for foreign bank.
Correspondent bank - correct answer Banks hold deposits with each other, and
accept and collect items on a reciprocal basis.
Through networks of correspondent banks, trade banks are able to service and support international
business transactions.
Allows the foreign bank to provide trade-related and foreign exchange services for its multinational
customers in the foreign market, without having to establish its own physical presence in the foreign
market.
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