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clearing bank

Line breaks: clear|ing bank

Definition of clearing bank in English:

noun

British
A bank which is a member of a clearing house.
Example sentences
  • That has always been the situation with the universal banks of jurisdictions like Germany, but in England the clearing banks and merchant banks were for over a century institutionally separate.
  • Much of the recommendations have been acted upon, and in the UK, the Financial Services Authority, Bank of England and clearing banks have all co-operated to raise standards of internal controls and compliance.
  • It is one of the smaller clearing banks.

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