Clearing house interbank payment system
Clearing house interbank payment systemA computerised payment system for clearing cheques in New York.
Interbank marketInterbank market
Financial institutions exchange of currencies between and among themselves.
Society for Worldwide Interbank Financial Telecommunications (SWIFT)Society for Worldwide Interbank Financial Telecommunications (SWIFT)
A dedicated computer network to support funds transfer messages internationally between over 900 member banks world-wide.
Interbank rateInterbank rate
The rate of interest charged by a bank on a loan to another bank. See LIBOR.
London interbank offered rateLondon interbank offered rate
The interest rate that the largest international banks charge each other for loans, usually of Eurodollars. In fact, LIBOR includes rates quoted each day for many currencies, excluding the euro, but it is the rate for dollar loans that is used as a benchmark for other transactions.
Society for Worldwide Interbank Financial TelecommunicationsSociety for Worldwide Interbank Financial Telecommunications
An international body which sets protocols and standards for international payment systems, such as electronic money transfers.
Further SuggestionsClearing House Interbank Payments System (CHIPS)
Paris Interbank Offer Rate (PIBOR)
London Interbank Bid Rate (LIBID)
London Interbank Offered Rate (LIBOR)
Moscow Interbank Currency Exchange (MICEX)