Clearing house

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Related to Clearing house: Clearing House Interbank Payments System, Automated Clearing House

CLEARING HOUSE, com. law. Among the English bankers, the clearing house is a place in Lombard street, in London, where the bankers of that city daily settle with each other the balances which they owe, or to which they are entitled. Desks are placed around the room, one of which is appropriated to each banking house, and they are: occupied in alphabetical order. Each clerk has a box or drawer along side of him, and the name of the house he represents is inscribed over his head. A clerk of each house comes in about half past three o'clock in the afternoon, and brings the drafts or checks on the other bankers, which have been paid by his house that day, and deposits them in their proper drawers. The clerk at the desk credits their accounts separately which they have against him, as found in the drawer. Balances are thus struck from all the accounts, and the claims transferred from one to another, until they are so wound up and cancelled, that each clerk has only to settle with two or three others, and the balances are immediately paid. When drafts are paid at so late an hour that they cannot be cleared that day, they are sent to the houses on which they are drawn, to be marked, that is, a memorandum is made on them, and they are to be cleared the next day. See Gilbert's Practical Treatise on Banking, pp. 16-20, Babbage on the Economy of Machines, n. 173, 174; Kelly's Cambist; Byles, on Bills, 106, 110; Pulling's Laws and Customs of London, 437.

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Rick Leander, Executive Vice President of The Clearing House responsible for its Strategic Forum, said: "Our working assumption is that establishing standards early in the evolution of mobile payments would be a winning proposition for all parties.
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Publishers Clearing House has been in business since 1953 and since 1967 has awarded over $200 million in prizes and awards to consumers from coast to coast.
The interface with Talent Clearing House has been seamless and painless.
Combining paper and electronic check clearing under one executive has been long planned and will enable The Clearing House to serve its financial services partners more effectively.
Nonetheless, the system-wide restrictions and regulations on credit activities stimulated the banks to devise an effective defense: clearing house associations operating as lenders of last resort.
e former leader of Rugby Borough Council will have overall responsibility for the leadership, management and nancial sustainability, which is funded by the Regional Growth Fund, of the Clearing House.
EA professionals are collaborating with both government and industry representatives to provide the Clearing House with an overview of the system s requirements, an outline of the appropriate development process, costs and level of effort for system development, and identification of qualitative benefits to potential stakeholders for its deployment.
Scudder is the 80th Publishers Clearing House winner of one million dollars or more, joining a roster of many other SuperPrize winners from all over the country
Holland Clearing House (HCH) is a continental European derivatives clearing house based in Amsterdam and is the primary clearing house for the TOM multi-lateral trading facility.
The Electronic Payments Network, a payments business of The Clearing House Payments Company, is the only national private- sector ACH operator in the United States.
Clearing House members can participate in a task force not only for Statement no.

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