clearing bank

Examples (10)

• A clearing bank plays a crucial role in the national payment system.
• In the UK, the major high street banks are all clearing banks.
• The central bank holds accounts for all the major clearing banks in the country.
• Historically, only a few institutions were recognized as clearing banks.
• When you write a cheque, your payment is processed through a clearing bank.
• For the new digital currency to work, it will need the cooperation of every major clearing bank.
• Regulations for clearing banks have become much stricter since the financial crisis.
• Smaller banks often use a larger clearing bank as an agent to process their transactions.
• What are the requirements for a financial institution to become a designated clearing bank?
• The efficiency of the entire financial market depends heavily on the smooth operation of its clearing banks.