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When should discrepancies between front-office and back-office systems be resolved?
Due to an error by your dealers, your bank is 5 days late in paying EUR 10,000,000.00. Your correspondent bank says it will charge you 6% p.a. plus reserve costs of EUR 1.00 per thousand. How much will your account be charged for this overdraft?
If the back office staff receive a trade that is incomplete, which information is absolutely essential for processing the trade?