Bank Calculations

1.

2.

Settlement operations of banks - operations within the
framework of the system for organizing non-cash
payments of legal entities and individuals for monetary
claims and obligations. Under the settlement operations
of a commercial bank is understood:
execution of orders (instructions) of bank customers:
on payment for works, goods, services to suppliers,
on the repayment of debts to the budget for taxes,
on repayment of other debts;
crediting incoming funds to customer accounts;
operations for the conduct of business activities of the
bank itself;
interbank settlements both within the country and with
foreign countries.

3.

SERVICING A BANK
CUSTOMER'S ACCOUNT
Between the bank and the client opening a
current account, a bank account
agreement is concluded, which provides[1]:
storage of client funds,
receiving funds from the account in cash,
organization of non-cash transfers and
receipts.

4.

TYPES OF NONCASH SETTLEMENT
TRANSACTIONS
Non-cash settlement transactions
between legal entities can be
carried out:
payment orders,
payment requirements,
letters of credit,
checks
collection orders.

5.

Settlements with the Central Bank
Edit
To carry out settlement operations and
store free funds, each bank opens a
correspondent account with the Central
Bank. The representative of the Central
Bank is the cash settlement center (RCC)
of the territorial administration of the
Central Bank. Each bank opens only one
correspondent account with the RCC, no
fee is charged for its maintenance, and no
interest is accrued on the balance of funds
on it.

6.

SETTLEMENTS BETWEEN COMMERCIAL BANKS
A respondent bank is a bank that has opened a
correspondent account with another bank.
Correspondent bank - a bank in which a
correspondent account of a respondent bank is
opened.
Correspondent account LORO - correspondent
account of another bank in the bank in question
(from Italian loro "them") - passive account.
Correspondent account NOSTRO correspondent account of the bank in question
in another bank (from Italian nostro "our") - an
active account.