clearing house

Thân thiện

A clearing house processes financial transactions between banks.

Definition

Noun: 1. A central institution for the settlement of mutual claims and accounts: Specifically, a central collection place where banks exchange checks, drafts, or other financial instruments. Participants maintain accounts at the clearing house, against which credits and debits are posted to net out obligations, reducing the need for individual settlements between every pair of institutions. 2. A central agency for the collection, classification, and distribution of information: By extension, any central organization that collects, verifies, and disseminates information or data within a specific field or industry.

Usage Examples

• Financial Context:
  • The check was processed through the national clearing house.
  • Banks rely on the clearing house to settle their daily transactions efficiently.
• Informational Context:
  • The organization acts as a clearing house for research on climate change.
  • The new online portal serves as a clearing house for job postings in the tech sector.

Advanced Usage

• "to act as a clearing house for": To serve as a central point for gathering and distributing something (information, resources, etc.).
  • The library acts as a clearing house for community event information.

Variants and Related Words

• Clear (verb): In finance, to settle (a check or other financial transaction) through a clearing house.
  • The bank will clear the check in two business days.
• Clearing (noun): The process of settling financial transactions.
  • The clearing of securities trades is a complex operation.

Synonyms

• Exchange (noun): A place where things, especially financial securities, are bought and sold.
• Settlement center (noun): A place where financial accounts are settled.
• Central repository (noun): A central place where data or items are stored and managed.

Related Phrases

• Clearing system (noun phrase): The entire set of procedures and institutions involved in the clearing of transactions.
  • The stability of the financial clearing system is crucial.
• Clearing member (noun phrase): A member firm of a clearing house that is entitled to clear trades through it.
  • Only clearing members can submit transactions directly to the exchange's clearing house.

Related Idioms

• None directly associated with the term "clearing house."

Học thuật

Noun

1. a central collection place where banks exchange checks or drafts; participants maintain an account against which credits or debits are posted