PRINCIPLE 54
Market Participants should perform timely account reconciliation processes.
Market Participants should conduct a regular reconciliation process to reconcile ex-pected cash flows against actual cash flows on a timely basis. The sooner reconcilia-tions are performed, the sooner a Market Participant can detect missing or erroneous entries and know its true account balances so that it can take appropriate actions to confirm that its accounts are properly funded. Reconciliations should be carried out by personnel who are not involved in processing transactions that would affect the balances of accounts held with correspondent banks.
Full reconciliation should occur across nostro accounts as early as possible. To aid in the full reconciliation of their nostro accounts, Market Participants should be capable of receiving automated feeds of nostro activity statements and implement automated nostro reconciliation systems. Market Participants should also have measures in place to res
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