Clearing house: Difference between revisions
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imported>Doug Williamson m (Category added 9/10/13 and spacing) |
imported>Doug Williamson (Generalise to non-bank institutions and link with LME Clear page.) |
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''Funds transfer''. | ''Funds transfer''. | ||
A formal or informal association of | A formal or informal association of institutions 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 | 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. | In some cases, the clearing house may assume significant counterparty, financial or risk management responsibilities for the clearing system. | ||
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* [[Clearing House Interbank Payment System]] | * [[Clearing House Interbank Payment System]] | ||
* [[Clearing system]] | * [[Clearing system]] | ||
* [[LME Clear]] | |||
[[Category:Cash_management]] | [[Category:Cash_management]] | ||
Revision as of 16:31, 19 April 2015
(CH).
Funds transfer.
A formal or informal association of institutions 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.
