MORTGAGE Definition

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MORTGAGE is a conditional conveyance of property as security for the repayment of a loan.

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NOSTRO ACCOUNT is an account held by a bank in a foreign country in the currency of that country e.g., a German bank with an account in New York will call the record in its own books of its New York account a nostro account.

BRETTON WOODS is the site in New Hampshire, U.S., of an international conference in 1944 which resulted in the establishment of the World Bank and the International Monetary Fund.

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