Check clearing

 

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Check clearing

The movement of a check from the depository institution at which it was deposited back to the institution on which it was written; the movement of funds in the opposite direction and the corresponding credit and debit to the involved accounts. The Federal Reserve operates a nationwide check-clearing system.



Check clearing

Similar Matches

Nonclearing member

Nonclearing member

An exchange member firm that is not able to clear transactions, and must pay another member firm to carry out its clearing operations.


London Clearing House

London Clearing House

The organisation founded in 1888 to clear sugar and coffee trades in London, originally known as the London Produce Clearing House. Once LCH has registered a trade, it becomes the buyer to every LCH Member who sells and seller to every LCH Member who buys, thereby guaranteeing that the financial obligations of trades are met.The LCH clears trades conducted on the International Petroleum Exchange (IPE), the London International Financial Futures Exchange (LIFFE) incorporating the London Commodity Exchange (LCE), the London Stock Exchange and the London Metal Exchange (LME). It is owned by the major UK clearing banks (Barclays, LloydsTSB, HSBC, NatWest, Royal Bank of Scotland and Standard Chartered) and is a Recognised Clearing House under the regulatory supervision of the Financial Services Authority (FSA).


Cheque clearing

Cheque clearing

A system which enables cheques to be transmitted between banks (and between branches) in order to transfer funds.


Clearing corporations

Clearing corporations

Organizations that are affiliated with exchanges and are used to complete securities transactions by taking care of validation, delivery, and settlement.


Clearing House Interbank Payments System (CHIPS)

Clearing House Interbank Payments System (CHIPS)

An international wire transfer system for high-value payments operated by a group of major banks.


Further Suggestions

Clearinghouse
credit clearing
Joint clearing members
Options Clearing Corporation
Options Clearing Corporation (OCC)
clearing house
National Securities Clearing Corporation
Clearing member
National Securities Clearing Corporation (NSCC)
Mortgage Backed Securities Clearing Corporation (MBSCC)
Recognised Clearing House
clearing house interbank payment system
Clearing House Electronic Subregister System (CHESS)
Clearing house funds
clearing house automated payment system
inter branch clearing
Bankers Automated Clearing Services
Market clearing
Clearing House Automated Payments System (CHAPS)
Automated Clearing House (ACH)
Clearing system
Market clearing
clearing
inter bank clearing


 
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