Nostro

Nostro is the complete working system of a correspondent bank's cross-border payment settlement and nostro reconciliation operation - the wire room and the reconciliation floor that move another bank's money across currencies, hold the mirror accounts it settles through, repair the messages that arrive broken, fund each account before its currency's cutoff, and chase every break until the ledger and the correspondent's statement agree to the cent. It keeps the nostro and vostro mirrors in every settlement currency, carries each instruction from receipt to final credit with its value date and its cover, watches each clearing cutoff and the queue against it, settles the compensation a wrong value date creates, prices and bills the correspondent charges, and screens every party against the sanctions lists.

Fourteen real modules, each a browsable page with real seeded data. NOSTRO AND VOSTRO ACCOUNTS carries the opening ledger balance against the opening available balance, the intraday movement, the closing ledger against the correspondent's own statement closing with the difference stated explicitly, and the agreed target balance and tolerance band. The PAYMENT INSTRUCTION REGISTER holds the ordering and beneficiary institutions with their BICs, the charge convention of OUR, SHA or BEN, the correspondent chain and intermediary used, the cover method and reference, and the value date requested against the value date applied. The MESSAGE REPAIR QUEUE shows the raw field as it arrived verbatim against the repaired field, the fault that stopped it from an IBAN checksum failure to a currency-country mismatch, and whether the repair cost the payment its value date.

The CUTOFF AND CLEARING CALENDAR runs the clock the whole floor works against, with each currency's clearing system, its local cutoff, its holiday calendar and the value still queued. FUNDING AND POSITION with its swaps, placements and unplanned overdrafts, STATEMENT RECONCILIATION with its match rate and its two separate unmatched populations, the BREAK AND INVESTIGATION REGISTER with its ageing bands and provisions, COMPENSATION CLAIMS computed on a market interest basis, CHARGES AND BILLING, the CORRESPONDENT NETWORK AND KEY REGISTER with its annual reviews and key re-exchange dates, SANCTIONS SCREENING with the instructed name against the listed name side by side, and the TREASURY MORNING REPORT complete the operation's view. A CORRESPONDENT PORTAL gives a correspondent bank its own balances, repairs and open claims, and an OPERATIONS DASHBOARD closes the loop.

The signature drawing is the cutoff clock and queued-value ladder: nine settlement currencies each ruled into its own lane, the business day ruled from first receipt to last cutoff with the hours marked, each currency's clearing cutoff drawn as a vertical rule terminating in a chip giving its local time, the value still queued drawn as a stroked bar ending in an amount chip, the warning threshold ruled ahead of it, each closed holiday date hatched on the lane, and every currency inside thirty minutes of its cutoff with value still queued struck in oxide red with the minutes remaining named - the whole plate edged with a drawn tractor-feed sprocket strip and a ruled hour scale. Designed as a 1960s bank wire-room telex ticket crossed with a green-bar continuous-form ledger printout: a continuous-form pale green-grey stock, carbon black ink, ledger grey-green hairline rules and typed field labels, and a single oxide red reserved strictly for an account outside tolerance, an instruction released after cutoff, a break over thirty days, a claim disputed beyond sixty days, a relationship past its annual review or a screening hit held beyond four hours.