clearing


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Related to clearing: clearing house, Bank Clearing
See: exoneration

clearing

the process by which the cheques drawn on clearing banks are exchanged and the differences between what is due from and to each bank are settled daily by transfers between the accounts of such banks with the Bank of England.
References in classic literature ?
Thus they stood while Teeka came across the clearing, going more slowly as she neared the panther, for even her mother love could scarce overcome her instinctive terror of this natural enemy of her kind.
Now she sat upon a high branch, safe out of harm's way, cuddling the little thing close to her hairy breast, the while her savage little eyes bored down upon the contestants in the clearing, and her ferocious voice urged Taug and the other bulls to leap into the melee.
Presently the entire company filed on across the clearing and disappeared in the jungle upon the opposite side.
Three times the Arabs started across the clearing in the direction from which they thought the arrows came, but each time another arrow would come from behind to take its toll from among their number.
An hour later he came to the edge of the clearing before the village.
The terrorist attacks demonstrated ways that operational disruptions to a clearing bank's services could disrupt the trading, clearance, and settlement of government securities.