clearing banks


Also found in: Legal, Wikipedia.

clearing banks

The main British commercial banks that make use of the Central Clearing House in London for the transfer of credits and checks between banks.
References in periodicals archive ?
Seeking to promote global use of the yuan, China has in the past two years appointed clearing banks for Taiwan, Singapore, London, Frankfurt, Paris, Luxembourg and Seoul.
The PBC announced in June that it would also be designating clearing banks in Paris and Luxembourg.
Singapore is among the several cities, including London and Luxemburg, to pursue offshore Yuan clearing banks.
In the tri-party repo market, this intraday financing is provided by the clearing banks.
In the United States, the tri-party agents are the two clearing banks, Bank of New York Mellon and J.
The desire of the main clearing banks to conserve capital in the face of uncertain debt markets is severely constraining for businesses, despite much bank rhetoric to the contrary.
The taxman will seek new orders next month after intense discussions with the clearing banks.
Joseph Yam, the authority's chief executive, said the first transaction could be settled in July once arrangements between PBoC and the clearing banks and between clearing banks and participating banks were made.
Detectives are trying to find out what the proceeds of the alleged attack on UK clearing banks were used for.
Those events also reinforced government officials' longstanding concerns about the potential consequences of voluntary or involuntary exit from the business by either of the two clearing banks.
A decision is thought to be only days away, although the Sunday Telegraph said HBOS would look to position itself as a powerful rival to the big four clearing banks ( HSBC, Royal Bank of Scotland, Barclays and Lloyds TSB ( if it did bid.
FOUR men arrested under the Terrorism Act were charged yesterday with conspiring to defraud clearing banks of large sums of money, police said.