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Glossary Term: CLEARING

Definition(s) for CLEARING:


1. ) A movement of checks from banks where they are deposited back to those on which they were written, and funds movement in the opposite direction This results in credit to the banks where funds are deposited and corresponding debits to the accounts of paying institutions The Federal Reserve operates a nationwide check clearing system, including numerous Regional Check Processing Centers See also Clearinghouse, Regional Check Processing Centers


See Also:
AUTOMATED CLEARING HOUSE (ACH), CHECK-CLEARING FLOAT, CLEARING HOUSE INTERBANK PAYMENT SYSTEM (CHIPS), CLEARING ACCOUNT, CLEARING CORPORATION, LOCAL CLEARING HOUSE, CLEARING HOUSE AUTOMATED PAYMENTS SYSTEM (CHAPS), CHECK CLEARING, CLEARING HOUSE ELECTRONIC SUBREGISTER SYSTEM (CHESS), CLEARING HOUSE FUNDS, CLEARING MEMBER TRADE AGREEMENT (CMTA), DEPOSITORY TRUST AND CLEARING CORPORATION (DTCC), OPTIONS CLEARING CORPORATION (OCC), BOARD OF TRADE CLEARING CORPORATION, CLEARING CORPORATION, CLEARING MARGIN, CLEARING MEMBER, NATIONAL SECURITIES CLEARING CORPORATION (NSCC), OPTIONS CLEARING CORPORATION (OCC)


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