clearing banks


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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 ?
The Central Bank of The Bahamas , in collaboration with the Clearing Banks Association (CBA), will host the first Get Money Smart Bahamas Financial Literacy Fair on Saturday, May 25, 2019 at Fusion Superplex, John F.
They were detained on suspicion of conspiracy to defraud UK clearing banks of excess of PS2m, the Met said.
The addition of ICBC will see DCCC expanding its network of Settlement and Clearing Banks to six global banks.
GCF Repo trades are cleared and settled on the books of the two large clearing banks, JPMorgan Chase (JPMC) and Bank of New York Mellon (BNY Mellon), with each bank using its own tri-party repo settlement platform.
Since 2011, China has appointed clearing banks for Taiwan, Singapore, London, Frankfurt, Paris, Luxembourg and Seoul.
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.
Singapore is among the several cities, including London and Luxemburg, to pursue offshore Yuan clearing banks. Analysts said Singapore wants a Yuan clearing bank firstly because it wants to grow its offshore Yuan capital market.
In the United States, the tri-party agents are the two clearing banks, Bank of New York Mellon and J.P.
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.
* Regulators should monitor and test implementation of the clearing banks' plans to satisfy the regulators' sound practices and implementation timelines for core clearing and settlement organizations as described in the Interagency Paper on Sound Practices to Strengthen the Resilience of the U.S.