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QUESTION: 171

Which of the following best describes the main objective of the nostro reconciliation function?

To ensure efficient cash management
To ensure that ail receipts of foreign currency are made in a timely fashion
To reduce the amounts paid in interest rate claims due to late payments
To ensure that expected cash movements agree with the actual movements of currency

Answer(s): B

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QUESTION: 172

What is a ladder maturity report?

A report that starts with the net open position and runs off day by day to arrive at a zero balance
A report of outstanding securities transactions
A report that begins with a zero balance and at the end of the day, lists all FX deals by maturity
A list of the maturity of all deals per value date

Answer(s): D

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Due to an error by your dealers, your bank is 5 days late in paying EUR 10,000,000.00. Your correspondent bank says it will charge you 6% p.a. plus reserve costs of EUR 1.00 per thousand.
How much will your account be charged for this overdraft?