Clearing House Interbank Payments System
A New York computerised network through which cheques are cleared. Most Eurodollar transactions are cleared through CHIPS.
Related links

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Look at other dictionaries:

  • Clearing House Interbank Payments System — The Clearing House Interbank Payments System (CHIPS) is the main privately held clearing house for large value transactions in the United States, settling well over US$1 trillion a day in around 250,000 interbank payments. Together with the… …   Wikipedia

  • Clearing House Interbank Payments System — ( CHIPS) An international wire transfer system for high value payments operated by a group of major banks. The New York Times Financial Glossary * * * Clearing House Interbank Payments System ˌClearing House ˌInterbank ˈPayments ˌSystem , CHIPS… …   Financial and business terms

  • Clearing House Interbank Payments System — CHIPS A US bankers clearing house for paying and accepting funds. It is an electronic system operated through terminals in bank branches. Participating banks must be members of the New York Clearing House Association or affiliates of it, for… …   Accounting dictionary

  • Clearing House Interbank Payments System - CHIPS — The primary clearing house in the U.S. for large banking transactions. CHIPS settles over 250,000 of trades per day, valued in excess of $1 trillion. CHIPS and the Fedwire funds service used by the Federal Reserve Bank combine to constitute the… …   Investment dictionary

  • Clearing House Automated Transfer System — The Clearing House Automated Transfer System, or CHATS, is a Real Time Gross Settlement (RTGS) system for the transfer of funds in Hong Kong. It is operated by Hong Kong Interbank Clearing Limited, a private company jointly owned by the Hong Kong …   Wikipedia

  • Clearing house (finance) — A clearing house is a financial institution that provides clearing and settlement services for financial and commodities derivatives and securities transactions. These transactions may be executed on a futures exchange or securities exchange, as… …   Wikipedia

  • Clearing House Association, LLC — The Clearing House Association, LLC is the nation’s oldest banking association representing 17 of the world s largest commercial banks, which collectively employ over 2 million people and hold more than half of all U.S. deposits. It is a… …   Wikipedia

  • New York Clearing House — The New York Clearing House Association, the nation’s first and largest bank clearing house, was created in 1853, and has played a variety of important roles in supporting the development of the banking system in America’s financial capital.… …   Wikipedia

  • Automated Clearing House — (ACH) is the name of an electronic network for financial transactions in the United States. ACH processes large volumes of both credit and debit transactions which are originated in batches. Rules and regulations governing the ACH network are… …   Wikipedia

  • Clearing (finance) — In banking and finance, clearing denotes all activities from the time a commitment is made for a transaction until it is settled. Clearing is necessary because the speed of trades is much faster than the cycle time for completing the underlying… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”