Other Free Encyclopedias » 21st Century Webster's Family Encyclopedia » 21st Century Webster's Family Encyclopedia - Children's literature to Clumber spaniel

Clearinghouse

banks

Clearinghouse, institution or system for exchanging checks among banks for the purpose of collection. The clearinghouse allows the banks in each city to settle their accounts among themselves on a daily basis. When the banks are in different cities, the clearinghouse function is performed by the Federal Reserve Bank of the district.

Beverly Cleary [next] [back] John Middleton Clayton

User Comments

Your email address will be altered so spam harvesting bots can't read it easily.
Hide my email completely instead?

Cancel or