BizTerm Definition
Clearing house interface
Full Definition

A Clearing House is a centralized facility for the exchange of mutual claims by financial institutions with settlement of the net balance. The aim is to provide the branches of a bank with an electronic link to their local clearing house. Tape and/or diskette interfaces may be supported if direct linking is not feasible. See also Collection exchange. Clearing House Systems Country System Australia Belgium CEC. Canada Eurobond Cedel and Euroclear. France Germany Italy Japan The Netherlands UK USA CHIPS

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