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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This event is bringing together all of the Clearing Banks to give Bahamian consumers as much support as possible in building and maintaining a strong financial future for themselves and their families, said Gowon Bowe, Chairman of the CBA.
Prior to reform, these systems depended heavily on the clearing banks providing unlimited intraday credit to the institutions entering into tri-party repo and GCF Repo contracts.
Industrial and Commercial Bank of China's Doha branch was appointed as the clearing bank for Yuan deals in an agreement signed in November.
Industrial and Commercial Bank of China's Doha branch has been appointed as the clearing bank for yuan deals in Qatar, China's central bank said on Tuesday.
ICBC Singapore, which was designated as the Yuan clearing bank in Singapore earlier this year, said 49 banks from Singapore and elsewhere opened accounts with it to become participating banks.
The clearing banks, the main broker dealers, and some of the large cash investors participate every day; one can suspect, then, that implicit relationships and reputation, for example, play a significant role in determining outcomes (Copeland, Martin, and Walker 2010).
Its members included senior representatives of the two clearing banks for government securities (J.P.
A decision is thought to be only days away, although the Sunday Telegraph said HBOS would look to position itself as a powerful rival to the big four clearing banks ( HSBC, Royal Bank of Scotland, Barclays and Lloyds TSB ( if it did bid.
FOUR men arrested under the Terrorism Act were charged yesterday with conspiring to defraud clearing banks of large sums of money, police said.
Mouleff has also been charged with conspiring with others to defraud clearing banks of large sums of money, a Sussex Police spokesman said.
Liverpool branch manager Kevin Cassidy said: ``We are delighted that our customers in Liverpool have endorsed our position as the proven alternative to the large clearing banks in the UK.