Chapter5 methods of international settlementInstructing a reimbursing bank to effect payment by debiting the remitting bank’s nostro account: when the remitting bank doesn’t open an account with the paying bank, the former may instruct its correspondent with which it maintains an account, to debit the account and credit the paying bank’s account if the paying bank also has an account with that correspondent, such as: In cover, we have authorized The Bank of Tokyo, New York to debit our account and credit your account with the above sum.
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