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clearing bank |
Also found in: Wikipedia, Hutchinson | 0.01 sec. |
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clearing bank n (Economics, Accounting & Finance / Banking & Finance) (in Britain) any bank that makes use of the central clearing house in London for the transfer of credits and cheques between banks How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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The Working Group, formed by the Board after the September 11, 2001, terrorist attacks in New York City, recommended nine steps to mitigate risks to the financial system from the interruption or termination of the services of a clearing bank as the result of either operational or non-operational problems. Though not as big a project as the mammoth North Regional Clearing Bank in Hanover (AR August 2002), it still sets challenging architectural and environmental standards for what can often be a dreary and dislocated building type, the edge of town office. Clearing banks may also implement an automated signature verification system or visual verification by comparing the image with the original signature card to determine authenticity of the client signature. |
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