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 Endpoint Exchange Network and the National Clearing House (NCHA) will make it possible for financial institutions across the country to trade check images with other institutions, nationwide.
By using the Fiserv Clearing Network, financial institutions will be able to improve efficiency and reduce check-clearing costs.
Nasdaq:EQIX), the leading provider of network-neutral data centers and Internet exchange services, today announced that Fortis Clearing Chicago, LLC, a unit of Fortis, the European insurance and banking conglomerate, has relocated the company's data center operations to Equinix's Chicago Internet Business Exchange(TM) (IBX(R)) center in order to leverage the benefits of operating in close proximity to its strategic partners.
Under a recently signed agreement, OCC will serve as the main clearinghouse for CFE, providing the following services: acting as guarantor, overseeing clearing fund and margin deposits, facilitating margin and settlement obligations, managing post-trade transactions, processing and disseminating trade data and offering 24-hour member support services.
The Clearing Corporation is an independent clearinghouse that ensures the financial integrity of financial marketplaces that trade a variety of financial instruments, including futures, options and derivatives contracts.
The terrorist attacks demonstrated ways that operational disruptions to a clearing bank's services could disrupt the trading, clearance, and settlement of government securities.
ATLANTA -- VSoft Corporation, a global information and technology provider of process improvement tools for financial institutions, announced that the Philippine Clearing House Corporation (PCHC) has chosen to implement its Image Capture, Archive, CD Distribution, Online Image Research and Returns solutions.