Clearing house: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson m (Spacing) |
imported>Doug Williamson m (Category added 9/10/13 and spacing) |
||
| Line 8: | Line 8: | ||
In some cases, the clearing house may assume significant counterparty, financial or risk management responsibilities for the clearing system. | In some cases, the clearing house may assume significant counterparty, financial or risk management responsibilities for the clearing system. | ||
== See also == | == See also == | ||
* [[Clearing House Interbank Payment System]] | * [[Clearing House Interbank Payment System]] | ||
* [[Clearing system]] | * [[Clearing system]] | ||
[[Category:Cash_management]] | |||
Revision as of 10:02, 9 October 2013
(CH).
Funds transfer.
A formal or informal association of banks in a geographic area that facilitates the exchange of items drawn on participants.
This exists via a central location or central processing mechanism through which financial institutions agree to exchange payment instructions or other financial obligations (for example securities). The institutions settle for items exchanged at a designated time based on the rules and procedures of the clearing House.
In some cases, the clearing house may assume significant counterparty, financial or risk management responsibilities for the clearing system.
