BED and BREAKFAST Definition

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BED and BREAKFAST was an overnight UK tax related maneuver intended to establish a tax loss benefit. Now no longer allowed.

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VOSTRO ACCOUNT is a local currency account maintained with a bank by another bank. The term is normally applied to the counterpartys account from which funds may be paid into or withdrawn, as a result of a transaction.

FIXED DEPOSIT is a specific sum of money deposited in a financial institution for a fixed term earning a pre-agreed interest rate.

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