a term used in banking to denote 'their account' in the eyes of those banks that are neither 'nostro' nor 'vostro.' Thus, if Bank A has opened an account in Bank B in a foreign country, the account with Bank B is called 'Nostro (our)' by Bank A and 'Vostro (your)' by Bank B.The same account is called 'Loro' by other banks.
That is a Loro account for us. It is neither Nostro nor Vostro.
by uttam maharjan August 22, 2010