clearing house

noun

1. banking an institution where cheques and other commercial papers drawn on member banks are cancelled against each other so that only net balances are payable
2. a central agency for the collection and distribution of information or materials

Example Sentences

It is not clear that Mr. Trump is done clearing house.

From New York Times

Organizers say the Expo was always designed as a clearing house for far out ideas but there have been times when its open-minded, anything-goes attitude has gone too far.

From Los Angeles Times

Under the rule, more trades would be sent to a clearing house, requiring counterparties to put up cash to guarantee execution in the event of defaults.

From Reuters

To ensure additional sources of revenue, Yellen reiterated that she supported "harnessing windfall proceeds from Russian sovereign assets immobilized in particular clearing houses and using the funds to support Ukraine."

From Reuters

Over 200 billion of that amount is held in Europe with around 125 billion managed by Belgian clearing house Euroclear.

From Reuters