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QA2019-59 - Currency and reporting of nostro agents

QA2019-59 - Currency and reporting of nostro agents

Owned by SRB Services
Feb 01, 2024
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Resolution Reporting Subject Matter Guidance
Guidance Documents FMIs
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Unique Identifier

QA2019-59

Question


How should nostro agents be reported?


Response


Nostro agents should be reported  If the nostro agent provides indirect access to one or several FMIs: as “intermediary” in 120.  If the nostro agent is necessary for enabling the reporting entity to make use of an FMI (to which it has either direct access, or indirect access via another intermediary), for example if the nostro agent provides liquidity in a specific currency: as service provider in 190 for relevant currencies only (i.e. for transactions that account for at least 5% of total operations of the reporting institution with the FMI (currency to be completed in 150)).