The first [Peele, 1553] has nothing on nostro and vostro accounts. His later treatise [Peele, 1569, ledger A, ff.
Reasonably detailed discussion of nostro and vostro accounts are also to be found in some other treatises, including Flugel [1781, pp.
Continuing with the earlier example of A and B, the entries in the foreign-currency columns in the nostro account (in B'S name) in Ks ledger should mirror exactly the entries in the vostro account (in Ks name) in B'S ledger, except that debits and credits would be reversed.
402] noted, the difference between a nostro account and a vostro account was clearly set out in a treatise in English by John Carpenter [1632, pp.
401] Waninghen explains carefully "that a Vostro account is opened for a foreign principal and a Nostro account for a foreign agent." Although the illustrative accounts in Waninghen do include examples of the two types of account, at least in one passage in the text the two types are confused.
