clearing bank


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clearing bank

n
(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
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
References in periodicals archive ?
M2 EQUITYBITES-June 27, 2019--MUFG to become yuan clearing bank
Those that have said yes have been given details of a bank account with a mainstream bank, saying that it acts as a clearing bank for Brexit Bank.
NEW YORK: For the fifth consecutive year, Citi has once again been awarded Derivatives Clearing Bank of the Year by GlobalCapital.
First, as long as a dealer had securities at the clearing bank to serve as collateral, the clearing bank was willing to extend intraday credit to that dealer to settle tri-party repo trades.
The Argentine unit of the ICBC, China's largest lender by assets, will be the country's yuan clearing bank, the People's Bank of China (PBOC) said in a statement.
Australia's top finance and government officials joined the Bank of China president in Sydney officially announce the Bank of China's Sydney branch's appointment as the clearing bank for the local renminbi (RMB) market in Australia.
Industrial and Commercial Bank of China's (ICBC) Doha branch is the clearing bank for the centre, which intends to serve companies from around the Middle East.
Industrial and Commercial Bank of China's Doha branch was appointed as the clearing bank for Yuan deals in an agreement signed in November.
The central bank said on Sunday that it would appoint the Canadian branch of the Industrial and Commercial Bank of China Ltd (ICBC) , China's largest commercial bank, as the hub's clearing bank.
Five offshore jurisdictions now have a clearing bank with direct links to the PBC and onshore Chinese interbank markets: Hong Kong (since 2003), Macau (2004), Taiwan (2012), Singapore (2013), London (2014) and Frankfurt (2014).
23 September 2013 a[euro]" Russian non-commercial partnership (NP) RTS could acquire Alor Bank from Alor Invest Ltd in a drive to create a clearing bank, local daily Vedomosti said on Monday, quoting an insider.