sábado, marzo 31, 2007

Vostro accounts or loro accounts

This post comes from a discussion about which is the correct term "vostro accounts" or "loro accounts".

In the international funds transfers, banks usually employ specific accounts to settle the transaction. Nostro accounts are accounts are the ones the bank holds with his counterparty, the other bank; the opposite, the accounts the counterparties have with the bank are called vostro accounts.

Generically the word nostro is the latin term "ours" whereas vostro is the latin traslation of "yours". Nevertheless, the vostro accounts are common called "loro" accounts. Why two different names for the describe the same term?

Answer: "Cause Vostro is not latin!"

The Dative (Indirect complement) of the determinats possesive in Singular is the following:
1st Person Singular: Meo
2nd Person Singular: Tuo
3rd Person Singular: Suo
1st Person Plural: Nostro
1st Person Plural: Vestro (Here you are!!)
3rd Person Plural: Suo

The word "vostro" seems to come from the italian bankers, possesives in Italian are the following:
1st Person Singular: Mio
2nd Person Singular: Tuo
3rd Person Singular: Suo
1st Person Plural: Nostro
1st Person Plural: Vostro
3rd Person Plural: Loro

Now, what it is more sensible?
If you talking about the other banks' account to your boss, you should say your account or account? Of course, it is not your boss and colleagues accounts!

Loro should be the correct term!!! :)

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