QUESTION: 173

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?

EUR 8,219.18
EUR 8,333.33
EUR 18,219.18
EUR 18,333.33

Answer(s): D

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QUESTION: 174

Which SWIFT message type is a nostro cash reconciliation software package based on?

SWIFT MT 300
SWIFT MT 292
SWIFT MT 571 (i.e. a statement of holdings)
SWIFT MT 940 and MT 950 (i.e. a statement of account)

Answer(s): D

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QUESTION: 175

Why is a failed trade log important?

It helps the risk manager to adjust the limits
It allows the cash positions keeper to retrace the arrival of the funds
It is essential in determining compensation arrangements at a later date
The auditors require these logs for their statistics

Answer(s): C

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QUESTION: 176

Which of the following is an example of a foreign currency nostro account from the perspective of a bank in London?

A GBP account with another UK bank
A CHF account with a bank in Zurich
A CHF account that it holds for a customer in London
A GBP account that it holds for a bank in New York

Answer(s): B

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QUESTION: 176

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