clearing bank

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clearing bank

a bank that is a member of the Committee of London and Scottish Clearing Bankers. See also CLEARING.
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The benefit is a real-time overview of clients' net risk at the clearing bank and at each clearinghouse.
In the United States, two clearing banks handle tri-party repos: Bank of New York Mellon (BNYM) and JP Morgan Chase (JPMC).
Their high street clearing bank was unable to provide the support and flexibility they needed to see them through to better times, and the business began the search for a relationship with a more supportive funder.
The estimated loss to UK clearing banks and finance companies as a result of their alleged activities is believed to be in the region of pounds 3m.
The White Paper expressed concerns about operational, financial, and structural vulnerabilities associated with the status quo, in which all of the most active market participants are critically dependent on one of two clearing banks for settlement of their trades and financing of their positions.
Announcing backing for a campaign by the main banking union BIFU, she said: "Once again it seems Scots families are taking second place to English clearing banks and the London Stock Exchange.
Since authorized by the PBOC to act as the RMB clearing bank in Singapore in 2013, ICBC Singapore Branch has seen strong growth in RMB clearing business and boosted the development of local RMB market.
Indeed, pledging collateral became standard practice among the small group of securities clearing banks whose customers' activity generated substantial daylight overdrafts.
BNM adds, With the majority of RMB clearing banks located in advanced economies, the designation of a RMB clearing bank for Malaysia, first emerging economy in Asia outside China, is an important recognition on the important role of Malaysia as a key RMB offshore centre.
Sombalu Jeyaganesh, 34, of Allan Drive, Raynhill, Liverpool, and 28-year-olds Ariyakunathasa Pirathesan, of Winsford Avenue, Coventry, and Sivanesan Mayilvaganam, of Garden Avenue, Mitcham, Surrey, have admitted one count of conspiring to defraud clearing banks between January 1 2007, and March 13 this year
The Government highlighted the problem more than two years ago, saying the largest clearing banks must no longer "profit from procrastination".
Wallace brings nearly 30 years of IT experience in Europe and served as the general manager -- Group Information Technology at NatWest, one of the leading UK clearing banks.