1A bankers' establishment where cheques and bills from member banks are exchanged, so that only the balances need be paid in cash.
- It simply remits the cheque to the drawee bank through the clearing house, and transmits an advice of the receipt of the cheque to the collecting bank.
- The clearing house for banks and building societies had planned to introduce an industry-wide scheme.
- It has been busy with the task of improving their financial markets, starting with the demutualisation and merger of their two exchanges and their three clearing houses in March 2000.
1.1An agency or organization which collects and distributes something, especially information: the Centre will act as a clearing house for information on local school programmes
More example sentences
- A seven million dollar system designed to help fight crime by acting as a clearing house for information held by the judiciary and law enforcement agencies is being developed, with the hope of implementing it at the end of next year.
- The organization maintains an online database that serves as a clearing house of information for the global peatland-conservation community.
- We're using NATO as a clearing house for information for individual countries.
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